Based on Clause 1 Article 43 Investment Law stipulated as follows:

Ensuring investment project implementation

1. Investors must deposit or have a bank guarantee on deposit obligations to ensure the implementation of investment projects that require the State to allocate land, lease land, or allow change of land use purpose. except for the following cases:

a) The investor who wins the auction for land use rights to implement an investment project is allocated land by the State with land use fees, or leases land with a one-time land rent for the entire lease period;

b) The investor wins the bid to implement an investment project using land;

c) Investors are allocated land or leased land by the State on the basis of receiving transfer of investment projects that have made deposits or completed capital contributions and capital mobilization according to the schedule specified in the approval document. Investment policy, Investment registration certificate;

d) Investors are allocated or leased land by the State to implement investment projects on the basis of receiving transfer of land use rights and assets attached to land from other land users.

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At the same time, based on Clause 1 Article 25 Decree No.  31/2021/ND-CP regulations:

Ensuring investor project implementation

1. Except for the cases specified in Points a, b, c and d, Clause 1, Article 43 of the Investment Law, investors must deposit a deposit or have a guarantee from a credit institution or foreign bank branch approved established under Vietnamese law (hereinafter referred to as credit institutions) on deposit obligations to ensure the implementation of investment projects allocated land, leased land, or allowed to change land use purposes by the State. .

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According to the above regulations, investors must deposit or have a bank guarantee on deposit obligations to ensure the implementation of investment projects that request the State to allocate or lease land.

Therefore, investors do not need to deposit a deposit if they are guaranteed their deposit obligations by a credit institution or foreign bank branch.

However, investors do not need to deposit or be guaranteed their deposit obligations if they fall into the following cases:

(1) The investor who wins the auction for land use rights to implement an investment project is allocated land by the State with land use fees, or leases land with a one-time land rent for the entire lease period;

(2) The investor wins the bid to implement an investment project using land;

(3) Investors are allocated land or leased land by the State on the basis of receiving transfer of investment projects that have made deposits or completed capital contributions and capital mobilization according to the schedule specified in the acceptance document. Investment policy agreement, Investment registration certificate;

(4) Investors are allocated or leased land by the State to implement investment projects on the basis of receiving transfer of land use rights and assets attached to land from other land users.