Adjust the IRC in Vietnam at the Industrial Park Management Board

In the context of the constantly fluctuating global economy, businesses need to adapt quickly to maintain and develop. The adjustment of the investment registration certificate is a flexible solution, helping businesses ensure that their business activities are always in line with current regulations, optimize resources and enhance competitiveness and meet the needs of expanding production, business and investment. The adjustment of the certificate is a necessary step for businesses to develop sustainably and achieve the set business goals. Viet An Law would like to guide customers through the preliminary procedures for adjusting the Investment Registration Certificate (IRC) in Vietnam at the Industrial Park Management Board through the article below.

In which cases it is necessary to adjust the IRC at the Industrial Park Management Board

According to Clause 2, Article 41 of the Law on Investment 2020, it is stipulated as follows: “The investor shall carry out the procedures for adjusting the Investment Registration Certificate in case the adjustment of the investment project changes the content of the Investment Registration Certificate.”

Thus, according to the provisions of Vietnamese law, enterprises need to adjust the investment registration certificate when there are changes affecting the content that has been issued in the certificate. Specifically, these cases usually include:

• Change investor information:
  • Change your name, address, phone number, email… of investors.
  • Change the capital contribution rate of investors.
  • Change of legal representative.
• Change information about investment projects:
  • Change the project name.
  • Change the location of the project.
  • Change the scale, objectives, and technology of the project.
  • Change of investment capital.
  • Change of business lines.
• Other cases:
  • Change the organizational structure of the enterprise.
  • Change the project’s operating duration.
  • Change other conditions as prescribed by law.

Why must the Investment Registration Certificate be adjusted?

• Ensure the accuracy of information: Adjustments help keep information about businesses and projects up to date, ensuring accuracy and transparency.
• Legal compliance: Adjusting the certificate helps businesses comply with the provisions of the law, avoiding possible legal risks.
• Creating favorable conditions for business activities: A valid investment registration certificate will help businesses easily access capital sources, expand business activities and cooperate with partners.

Dossier of adjustment of the investment registration certificate at the Industrial Park Management Board

The investor prepares 4 sets of documents according to the list of documents below:

• A written request for adjustment of the investment project;
• Report on the implementation of the investment project up to the time of adjustment;
• Report on monitoring and assessment of project impacts up to the time of adjustment;
• The investor’s decision on the adjustment of the investment project;
• Explanation of reasons for adjustment of investment projects;
• A copy of the issued investment registration certificate;
• Documents related to the adjustment of the contents include:
  • In case of change of investor: Documents on the legal status of the investor;
  • In case of change of investment capital: Documents proving the financial capacity of the investor include at least one of the following documents: financial statements of the investor for the last 2 years; commitment to financial support of the parent company; financial support commitments of financial institutions; guarantee of the investor’s financial capacity; other documents proving the financial capacity of the investor;
  • In case of change of location for implementation of investment projects: for locations that do not request the State to allocate or lease land or permit land use purpose change, copies of land use right papers and lease contracts for new offices shall be submitted;
  • An investment project proposal includes the following principal contents: investor or form of investor selection, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, implementation schedule, information on the current status of land use at the project location and proposal of land use demand (if any), labor demands, proposals for investment incentives, impacts and socio-economic efficiency of the project, preliminary assessment of environmental impacts (if any) in accordance with the law on environmental protection;
  • Other documents related to the investment project, requirements on conditions and capacity of investors in accordance with law (if any).

Processing time: Within 03 working days from the date of receipt of a valid dossier, the management board of the industrial park, export processing zone, hi-tech park or economic zone shall send the dossier to the competent state agency as prescribed at Point b, Clause 7, Article 33 of this Decree for consultation on the contents of the adjustment of the investment project