Adjusting the Operating Term of an Investment Project in Vietnam

In the context of continuous transformation in both the global and Vietnamese economies, the adjustment of an investment project’s operating term is no longer a rare occurrence but has become an essential need for many investors. Both objective and subjective factors — from market fluctuations, changes in legal policies, to unexpected difficulties during implementation — can affect the progress and feasibility of achieving a project’s initial objectives. Therefore, understanding the legal regulations on adjusting the operating term of an investment project in Vietnam is essential. This helps investors proactively respond, ensure operational efficiency, comply with the law, optimize benefits, and minimize risks during the investment process.

Operating term of investment projects

According to Article 44 of the Law on Investment 2020, the operating term of an investment project is prescribed as follows:

• The duration of an investment project inside an economic zone shall not exceed 70 years.
• The duration of an investment project outside an economic zone shall not exceed 50 years. The duration of an investment project in a disadvantaged area or extremely disadvantaged area, or a project with large investment capital but with a slow rate of capital recovery, may be longer, but shall not exceed 70 years.
• If an investment project uses land allocated or leased out by the State, but the transfer of land is delayed, the delay shall not be included in the project duration or execution schedule.
• Upon expiry of the duration of an investment project, if the investor wishes to keep executing the investment project and satisfies the conditions as prescribed by law, the duration of the investment project may be extended, but shall not exceed the maximum, except for the following investment projects:
  • Investment projects using obsolete, environmentally threatening, or resource-intensive technologies;
  • Investment projects in which the investor must transfer assets without reimbursement to the State of Vietnam or the Vietnamese side.

Projects ineligible for extension

• Investment projects using obsolete, environmentally threatening, or resource-intensive technologies;
• Investment projects in which the investor must transfer assets without reimbursement to the State of Vietnam or the Vietnamese side.

Conditions for adjusting the operating term of an investment project in Vietnam

According to Clause 4, Article 27 of Decree 31/2021/NĐ-CP (as amended by Decree 239/2025/ND-CP), except for the two cases below:

• The duration of an investment project inside an economic zone shall not exceed 70 years;
• The duration of an investment project outside an economic zone shall not exceed 50 years. The duration of an investment project in a disadvantaged area or extremely disadvantaged area, or a project with large investment capital but with a slow rate of capital recovery, may be longer but shall not exceed 70 years.

Upon expiry of the duration of an investment project, the authority that has the power to approve investment guidelines and the investment registration authority will consider and decide to extend the duration of such project if the investor wishes to keep executing the investment project and satisfies the following conditions:

• The project conforms to the national planning, regional planning, provincial planning, urban planning, and special administrative-economic unit planning (if any); conforms to the objectives and orientations for urban development or residential housing development plans and programs (with respect to projects on investment in residential housing and urban area construction);
• The conditions for land allocation or land lease prescribed by the law on land are met (in the case of applying for extension of land use term).

Procedure for adjusting the duration of the investment project

Step 1: Preparing the application for adjustment

According to Clause 2, Article 55 of Decree 31/2021/NĐ-CP (as amended by Decree 239/2025/ND-CP), the dossier for extending the duration of the investment project includes:

• An application form for extension of the project’s duration;
• Decision on approval for investment guidelines;
• Investment registration certificate;
• Decision on investor approval or equivalent document;
• certificate of land use rights or equivalent document;
• Document (s) proving the financial capacity of the investor, including at least one of the following documents: the investor’s financial statements for the last two years; commitment of the parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

Step 2: Applying adjustment

As of now, the Ministry of Planning and Investment has been merged with the Ministry of Finance, and the new entity operates under the Ministry of Finance. Therefore, investors shall submit their applications for adjustment of project operating terms to the Ministry of Finance:

Declare project information online via the National Foreign Investment Information System at https://fdi.gov.vn, and then apply in person to the competent investment registration authority. Within 15 working days from the date of online declaration, the investor must submit the physical dossier to the authority.

Step 3: Receipt and processing of the application

• Within 02 working days from the receipt of the valid application specified in Point a of this Clause, the Ministry of Planning and Investment or the investment registration authority shall send the application to the land authority and relevant authorities to seek their opinions about fulfillment of the conditions on compliance with the Investment Law.
• Within 07 working days from the receipt of the valid application, the enquiring authorities shall give their opinions about the fulfillment of the conditions.
• Within 14 working days from the receipt of the valid application, the Ministry of Planning and Investment and the investment registration authority shall consider the conditions for extending the project’s duration to prepare an appraisal report and submit it to the investment guideline approving authority.
• Within 03 working days from the receipt of the report, the investment guideline approving authority shall decide to extend the project’s duration.

Above is the information on the issue of adjusting the operating term of an investment project in Vietnam. Clients who have related questions or need legal support, please contact Viet An Law Firm for the best support!