1. What role does the government of Vietnam play in approving and regulating foreign direct investment?
The Ministry of Planning and Investment (MPI) is the central administrative body that oversees all investment activities, including foreign investment. The MPI is responsible for drafting legislation, developing policies, providing guidance and consultation, and coordinating with other authorities. The MPI is also the contact point for foreign invested enterprises (FIEs) should problems or questions arise.
However, it is important to understand that the provincial/city People’s Committees directly administer foreign investment activities and issue investment certificates (ICs) for almost every type of foreign investment within their province/city. An IC is required for every investment project that involves foreign capital. Some projects, especially those that aretermed “conditional” or projects that are very large, require approval by the Prime Minister.
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