What is investment policy approval?

“Approval for investment guidelines” means a competent authority approving the objectives, location, scale, schedule and duration of a project; investor or form of selection of investor and special mechanisms or special policies (if any) to execute an investment project. (Clause 1, Article 3 Law on Investment No. 61/2020/QH14).

Which projects must apply for investment policies?

According to Article 30, Article 31, Article 32 of the Law on Investment 2020, the following projects must have investment policies approved:

- Investment projects that exert great effects or potentially serious effects on the environment;

- Investment projects that require repurposing of land meant for wet rice cultivation during with 02 or more crops of at least 500 hectares;

- Investment projects that require relocation of 20,000 people or more in mountainous areas or 50,000 people or more in other areas;

- Investment projects that require application of a special mechanism or policy that needs to be decided by the National Assembly;

- Investment projects regardless of capital sources;

- Investment projects that require relocation of 10,000 people or more in mountainous areas or 20,000 people or more in other areas;

- Investment projects on construction of: airports and aerodromes; runways of airports and aerodromes; international passenger terminals; cargo terminals of airports and aerodromes with a capacity of at least 1 million tonnes per year;

- New investment projects on passenger air transport business;

- Investment projects that request the State to allocate or lease out land without auction or bidding for or receipt of land use rights, and investment projects that request permission to repurpose land, except for cases of allocation, lease or permission for repurposing of land of households or individuals not subject to the written approval by the provincial People's Committee in accordance with regulations of law on land;

- Projects on investment in golf course construction and business;

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