Procedures for Transferring Investment Projects in Industrial Parks

What are the documents and procedures for transferring investment projects in industrial parks? What are the conditions for transferring projects? Let’s find out with fdiinvietnam.com in this article.

The transfer of an investment project located in an industrial park (IP) is the transfer of a part or the entire project to another investor through a transfer contract. However, investors need to clearly understand the relevant legal regulations and legal issues arising during the transfer process to avoid unfortunate mistakes and wasting time. Join fdiinvietnam.com to learn about the conditions and procedures for transferring an investment project in an IP in this article.

Legal basis

 The transfer of investment projects is regulated and guided in the following documents:

• Enterprise Law 2020;
• Investment Law 2020;
• Decree 31/2021/ND-CP of the Government guiding the implementation of the Investment Law 2020;
• Decree 35/2022/ND-CP of the Government regulating the management of industrial parks and economic zones.

Conditions for transferring investment projects in industrial parks

According to Clause 1, Article 46 of the Investment Law 2020, investors are entitled to transfer all or part of an investment project when meeting the following conditions:

1. The investment project or the transferred part of the investment project is not terminated according to Article 48 of this Law;
2. In case a foreign investor receives the transfer of the entire project or a part of the investment project, the following conditions must be met:
   • Apply market access conditions to foreign investors as domestic investors, except in cases where industries and professions have not yet had market access or industries and professions with conditional market access;
   • Ensure regulations on national defense and security;
   • Comply with legal regulations on land, conditions for receiving land use rights, conditions for land use in islands, border communes, wards and towns, coastal communes, wards and towns.
3. Satisfy other conditions prescribed by law such as: land, housing, real estate business law in case of transferring investment projects to build houses, real estate projects…;
4. Implement the contents of the investment policy approval document, investment registration certificate or other relevant regulations (if any);
5. When transferring an investment project, a state-owned enterprise must comply with the provisions of law on management and use of state capital invested in production and business at the enterprise before adjusting the investment project.

Investment project transfer dossier in industrial park

Note:

Depending on the type of investment project, the number of documents required to be prepared and submitted is specified as follows:

• 4 sets of documents for the following projects:
  • Project subject to investment policy decision of Industrial Park Management Board;
  • The project is granted an investment certificate and is not subject to investment policy decision;
  • The project is granted an investment certificate in the case of an investment policy decision in which the investor has completed capital contribution, capital mobilization and put the project into operation;
  • The project is subject to investment policy decision of the Provincial People’s Committee.
• 8 sets of documents for projects subject to investment policy decisions by the Prime Minister.

Process – Procedures for transferring investment projects in industrial parks

1. Procedures for transferring investment projects in industrial parks

When meeting all the above transfer conditions, depending on the type of project, the procedure for transferring part or all of the investment project is carried out as follows:

• Carry out procedures to change the contents of investment certificates for projects approved in principle for investment and projects granted investment certificates;
• For projects not falling into the above cases, the transfer of the project or transfer of property ownership to the project recipient after the transfer must be carried out in accordance with the provisions of the law on civil affairs, enterprises, real estate business and other relevant provisions of law.

>> See more: Procedures for adjusting investment registration certificates – Latest.

2. Details of the process of transferring investment projects in industrial parks

➨ Step 1: Submit application

• After preparing all documents, the investor submits the investment project transfer dossier to the receiving and returning results department of the Industrial Park Management Board where the investment project is located;
• For projects not within the scope of settlement, within 3 working days from the date of receiving valid documents, the Industrial Park Management Board will send the documents to the competent authority for processing.

➨ Step 2: Process application and receive results

Depending on the scale and transfer content of each project, the agency receiving and processing the application will be different, specifically:

a. Industrial Park Management Board in localities

The Industrial Park Management Board receives and processes applications for the following projects:

• The project is granted an investment registration certificate and is not subject to investment policy decision;
• The project is granted an investment certificate in the case of an investment policy decision in which the investor has completed capital contribution, capital mobilization and put the project into operation.

Time to process application: 10 working days.

b. Provincial People’s Committee

The Provincial People’s Committee has the authority to resolve investment project transfer dossiers in industrial parks for projects subject to investment policy decisions by the Provincial People’s Committee.

Total processing time is about 50 working days, specifically:

• Within 15 working days from the date of receipt of the dossier from the Industrial Park Management Board, the Provincial People’s Committee will send feedback on the conditions for project transfer;
• The Industrial Park Management Board shall prepare a report on the conditions for project transfer and submit it to the Provincial People’s Committee for consideration within 25 working days and issue a decision to adjust the investment policy within 7 working days.

c. Prime Minister

The Prime Minister has the authority to resolve projects subject to the Prime Minister’s investment policy decision.

Total processing time is about 58 working days, specifically:

• Within 3 working days after receiving the investor’s dossier, the Industrial Park Management Board shall submit it to the Provincial People’s Committee for consideration and send it to the Ministry of Planning and Investment for appraisal opinions on the conditions for transferring the investment project;
• Within 15 working days from the date of receipt of the dossier, the competent authorities will respond with comments on the project adjustment content within their management scope;

• Within 35 working days from the date of receiving valid documents, the Ministry of Planning and Investment will prepare a report assessing the contents of investment project adjustments and submit it to the Prime Minister;
• Within 5 working days from the date of receipt of the appraisal report of the Ministry of Planning and Investment, the Prime Minister shall issue a decision approving the adjustment of the investment policy and send it to the ministries and agencies related to the implementation of the investment project.

d. Results received:

• New investment registration certificate (also known as investment license) for projects granted investment registration certificates;
• Documents adjusting investment policies of the Prime Minister, Provincial People’s Committee, Industrial Park Management Board for projects that do not have investment registration certificates.

Note:

• For applications submitted directly to the organization, the applicant must bring the application receipt and appointment to receive results to the Administrative Service Center to receive the results;
• For projects that do not have an investment registration certificate: the decision to adjust the investment policy will be sent to the investor;
• For projects granted investment registration certificates: The Industrial Park Management Board shall adjust the investment registration certificate for the investor receiving the project transfer within 5 working days from the date of receipt of the decision.

Some questions about transferring investment projects in industrial parks