Consulting periodic investment supervision reports in Vietnam

Periodic investment supervision reports are indispensable tools for supervising the progress and effectiveness of investment programs and projects. Preparing periodic investment supervision reports helps investors, financial institutions, and state management agencies grasp the project implementation status, evaluate investment efficiency, and promptly propose appropriate adjustment measures. In the article below, Viet An Law Firm provides primaly consulting periodic investment supervision reports in Vietnam.

What is an investment supervision and assessment report?

According to the provisions of Clause 1, Article 3 of Decree No. 29/2021/ND-CP:

“Investment supervision is the activity of supervision and inspecting investment. Investment supervision includes supervision of investment programs and projects and overall investment supervision.”

Specifically, investment supervision includes supervision of investment programs and projects and overall investment supervision. The legal basis for preparing periodic investment supervision reports currently in Vietnam is stipulated in the following legal documents:

• Investment Law 2020.
• Decree 29/2021/ND-CP stipulates the order and procedures for appraising important national projects and supervising and assessing investments.
• Decree 122/2021/ND-CP regulating administrative sanctions in the field of planning and investment.
• Circular 05/2023/TT-BKHDT stipulates the form of investment supervision and assessment reports.

Obligation to prepare periodic investment supervision reports in Vietnam

The obligation to prepare investment assessment and supervision reports is imposed on the following entities:

• Investor, component project owner;
• Ministry of Planning and Investment (Department of Investment Supervision and Appraisal), sectors, localities, state-owned enterprises;
• The agency managing and operating the Investment Supervision Information System is the Center for Information Technology and Digital Transformation.

The preparation of periodic investment supervision reports is mainly carried out in two main stages: Investment implementation stage and Operation stage (6 months, a whole year).

Form of periodic investment supervision report in Vietnam

Unlike the Investment Activity Report which is done online, the Investment Supervision Report is actively done by the investor in the form of a paper file and submitted to the Department of Planning and Investment which manages the enterprise’s investment registration certificate.

Contents of periodic investment supervision reports in Vietnam

To prepare a periodic investment supervision report, it is necessary to follow the investment supervision and assessment report template in Circular 05/2023/TT-BKHDT issued by the Ministry of Planning and Investment on June 30, 2023, regulating the investment supervision and assessment report template. Accordingly, this circular has issued a total of 19 investment supervision report templates. In particular, each type of investment will have its own periodic investment supervision report template:

In general, when preparing periodic investment supervision reports, entities need to meet the following basic criteria:

Some notes on content when preparing periodic investment supervision reports

• The content of the report must comply with the provisions of relevant legal documents.
• Reports must be prepared fully, accurately, promptly, and sent to competent state agencies following the provisions of law.
• Reporting deadlines may vary for each specific type of investment project according to regulations of specialized laws and project contracts or investment plans.

Investors need to regularly update the latest legal documents to ensure compliance with regulations on investment supervision and assessment reporting deadlines.

Deadline for submitting periodic investment supervision reports

According to Article 100 of Decree 29/2021/ND-CP, the deadline for submitting investment supervision reports is For subjects with specific obligations as follows:

• Program owner, investor and investor:​​​​
  • Submit 6-month report before July 10 of the reporting year.
  • Submit annual reports before February 10 of the following year.
  • Submit report before submitting project program adjustment.​
• Investment registration agency: Submit annual report before February 20 of the following year.
• Ministries, branches, localities, and state- owned enterprises: Submit annual overall supervision and assessment reports before March 1 of the following year.
• Deadline for community investment supervision reports:
  • The community investment supervision board shall submit its report before the 10th day of the first month of the following quarter.
  • The Vietnam Fatherland Front Committee at the commune level shall submit annual reports before February 10 of the following year.
  • The provincial Vietnam Fatherland Front Committee shall submit its annual report before February 20 of the following year.
• The Ministry of Planning and Investment shall report to the Prime Minister on the synthesis of investment supervision and evaluation work in the previous year by March 31 of the following year.

Penalties for failure to comply with reporting regulations

Investors and component project owners who fail to fully comply with the reporting regime as prescribed in Article 5 of Circular 05/2023/TT-BKHĐT will be subject to sanctions in accordance with Article 103 of Decree 29/2021/ND-CP. Accordingly, depending on the nature and severity of the violation, they will be subject to disciplinary action, administrative sanctions or criminal prosecution; if damage is caused, compensation will be made in accordance with the provisions of law.

According to Decree 122/2021/ND-CP on regulations on administrative sanctions for violations in the field of planning and investment, violations of investment supervision and assessment reports can be fined up to 50 million VND and forced to take remedial measures such as additional payment to fully implement the reporting regime as prescribed. In conclusion, preparing periodic investment supervision reports is an important task to ensure that investment projects are implemented on schedule, effectively and in compliance with the provisions of law. Enterprises/investors need to make complete, accurate and timely reports.

Consulting service for preparing periodic investment supervision reports of Viet An Law Firm

• Consulting on legal regulations on investment supervision and assessment reports;
• Instructions for preparing investment supervision reports according to regulations;
• Consulting on how to collect and process information to prepare investment supervision and assessment reports;
• Support in reviewing reports and evaluating investment implementation results and making appropriate recommendations and proposals;
• Review of supervision report content
• Service of guiding customers to submit investment supervision reports, representing customers to submit reports;
• Advice on administrative sanctions in case of failure to comply with reporting regime;

Above is an article about consulting periodic investment supervision reports in Vietnam. Clients who need advice in the field of investment law, administrative law, please contact Viet An Law for the most effective support.

Update: 10/2024