Streamlined Foreign Investment Process in Ho Chi Minh City

Vietnam has taken significant steps to create a business-friendly environment by implementing a simplified and accelerated process for foreign investors seeking to establish operations in Ho Chi Minh City. In accordance with a decision signed by Nguyen Huu Tin, the deputy chairman of the Ho Chi Minh City People's Committee, foreign investors will receive their investment licenses within five days of submitting all necessary documents. If submitted online, the process can be completed in just two days.

Key Takeaways:

• Foreign investors will receive their investment licenses within five days of submitting all necessary documents, or within two days if submitted online.
• The municipal Planning and Investment Department will be responsible for receiving investment records and coordinating with local sectors to resolve investment issues.
• Projects requiring additional examination from ministries and sectors will receive a license within 20 days.
• District people's committees will inform the Department of Planning and Investment about the average price per square meter of land within three days.
• A council for managing site clearance, supporting loss, and helping people resettle will be established within 40 days.
• The Department of Construction will review and approve project designs within 10 days of receiving records.
• The Department of Natural Resources and Environment will revoke land within five days and grant land-use right certificates within three days after investors fulfill their financial duties.
• For environmental impact projects, the DoNRE will finish its examination within 15 days, and the DoC will reply within five days.
• Other administrative procedures, including tax codes, customs codes, and labor licenses, will be issued within 2-8 days.

Statistics:

• Foreign investors will receive their investment licenses within 2-5 days.
• Projects requiring additional examination will receive a license within 20 days.
• District people's committees will inform the Department of Planning and Investment about land prices within 3 days.
• A council for site clearance will be established within 40 days.
• Project designs will be reviewed within 10 days, and investors will have 30 days to provide additional information.
• Land use right certificates will be granted within 3 days after investors fulfill their financial duties.
• Environmental impact projects will undergo examination within 15 days.
• Other administrative procedures will be issued within 2-8 days.

Sources:

• Asia Pulse
• Ho Chi Minh City People's Committee
• VNA (Vietnamese News Agency)
• Nguyen Huu Tin
• Vietnamese Government