BBGV Breakfast Seminar: Law on Investment 2015 in Action

Event details

The BBGV is hosting a Breakfast Seminar about: Law on Investment 2015 in Action.

LNT & Partners proudly supports and speaks at this event.

Please join Mr Tuan, Deputy Director of the Legal Department of the Ministry of Planning and Investment and Dr Net from LNT & Partners as they provide information on the new provision in the investment law; how it can affect your business structure and discuss whether the new provisions provide an improved investment climate for foreign owned companies.

Date and Time: Friday 14th August 2015, from 7:30AM to 9:00AM

Venue: Cat Ba Room, InterContinental Asiana Saigon, HCMC

The new Law on Investment became effective in July 2015, purported to make landscape reform to Vietnam business environment for foreign investors. How this new law will affect the business in practice and benefit your business? How would current projects already invested in Vietnam co-op with the new law? What would be the procedure for foreign investors to establish or acquire a company in Vietnam? How about the HS Code requirement in the Investment Registration Certificate?

These Questions will be answered by Mr Quach Ngoc Tuan, Deputy Director of the Legal Department of the Ministry of Planning and Investment (MPI) and Dr Le Net, partner at LNT & Partners.

Entrance Fees: – BBGV Members: VND 500,000 – Non-members: VND 600,000

RSVP to Nga at nga.nguyen@bbgv.org or call 08 3829 8430

Reservations not cancelled within 48 hours of the event will be charged as will no-shows and invoiced.

About the Speakers

Mr Quach Ngoc Tuan

Mr Quach Ngoc Tuan is the Deputy Director of the Legal Department of the Ministry of Planning and Investment (MPI).  He was the key person in the drafting committee of the Law on Investment, as well as the Decree implementing the new Law on Investment. Before joining MPI, Mr Tuan worked at the People’s Court of Ninh Binh Province.

Dr Le Net

Dr Net 1

Le Net is a partner at LNT & Partners, in charge of infrastructure, international arbitration and financial services. He has more 18 years of experience, and was a leading counsel in ICC arbitrations and awarded Lawyer of the Year in 2012 by the Ministry of Justice’s Law Journal.  Net was behind many complex cross-border infrastructure, M&A, banking and finance transactions.  Net is also an arbitrator of Vietnam International Arbitration Centre, and a member of Vietnam Bar Federation’s National Council.

Net co-founded LNT & Partners, one of the major leading Vietnam law firms, being the only Vietnam law firm ranked in FT 25 Innovative Lawyers 2015 by Financial Times, and Vietnam Deal Firm of the Year in 2014 by ALB Thomson Reuters.

Final LNT breakfast seminar

The New Obligation of Foreign Direct Investment Enterprises (“FDIE”)

The new obligation of foreign direct investment enterprises (“FDIE”) to use a national information system of offshore investment (“System”)

After five years from the original approval date of the plan for information technology application in activities of competent authorities in period of 2009 – 2010, on 29 January 2015 the Ministry of Planning and Investment promulgated Official Letter No. 579/BKHDT-DTNN, it is time for official application of operation of the System. As such, from 01 March 2015, all FDIE within Vietnam are obliged to use the System to declare certain information prior to submitting hard copies of the dossiers on request of investment certificate issuance. The FDIE must also submit a report of their projects via the System.

More specifically, prior to submitting hard copies dossiers to the investment certificate issuing body, the investor must register information relating to the dossier, the investor, the enterprise and the project in form as provided at the link:

http://fia.mpi.gov.vn/tinbai/1308/Tai-lieu-huong-dan-su-dung-he-thong-thong-tin-quoc-gia-ve-DTNN

Once registration is successfully completed, the investor shall obtain a registration code. In order to complete procedure for request of investment certificate issuance, the investor is obligated to submit certificate issuing body such registration code accompanied with the hard copy dossier as provided by laws within 48 hours from the moment the registration code is provided to the investor. After the aforementioned time limitation, the registration code shall be automatically cancelled.

In addition, the FDIE shall be provided with an account to submit its online report of the project. The report form is available at this link:

http://fia.mpi.gov.vn/tinbai/1308/Tai-lieu-huong-dan-su-dung-he-thong-thong-tin-quoc-gia-ve-DTNN.

The FDIE then must accordingly submit report of project on a monthly basis (on 18th of each month), a quarterly basis (in the last month of each quarter) and finally on an annual basis.

It is believed that the System is a useful data source about all the FDIE in Vietnam.

By Vietnam Law Insight, LNT & Partners

Disclaimer: This Briefing is for information purposes only. Its contents do not constitute legal advice and should not be regarded as detailed advice in individual cases. For more information, please contact us or visit the website: Http://LNTpartners.com