The Government has enacted a new decree on direct investment in foreign markets by Vietnamese businesses, which will replace the existing one issued in 1999.
The Government has enacted a new decree on direct investment in foreign markets by Vietnamese businesses, which will replace the existing one issued in 1999.
The decrees Article 9 stipulates that investment projects overseas in banking, insurance, financial services, media and telecommunications, with State capital from 150 billion VND and upwards or 300 billion VND or more for those invested by the non-State sector, will have to submit to the Prime Minister for approval.
In other fields, State-invested projects, capitalised at 300 billion VND and upwards, and non-State sectors projects with capital from 600 billion VND, are also required to do so.
The Ministry of Planning and Investment is authorised to grant investment certificates to projects approved by the PM and other projects which are not regulated by the decrees Article 9.
The decree, coded 78/2006/ND-CP, consists of five chapters and 42 articles. It will take effect 15 days after it is published on the Official Gazette and will replace Decree No. 22/1999/ND-CP dated
(Source: VNA)
