On February 14, 2022, the Ministry of Planning and Investment issued Circular No. 02/2022/TT-BKHDT guiding the supervision and evaluation of investment for foreign investment activities in Vietnam. Accordingly, in this Circular, the case of ad hoc inspection of foreign investment activities in Vietnam has been added. Specifically, Article 10 of this Circular stipulates 03 forms of inspection of foreign investment activities in Vietnam as follows:
- Periodic inspection: conducted on the basis of the annual inspection plan approved by the competent authority specified in Article 4 of Circular No. 02/2022/TT-BKHDT.
- Ad hoc inspection: carried out on case basis according to management demands and actual circumstances or upon request with regard to difficulties that ensue during the implementation of investment activities or of legal regulations and policies on foreign investment or showing signs of violations in investment activities of foreign-invested economic organizations and foreign-invested projects.
- Specialized inspections: conducted in accordance with specialized laws and upon request by specialized management authorities with the aim of evaluating the implementation of legal regulations in relation to the fields under their management.
Thus, compared with the provisions of Circular 09/2016/TT-BKHDT, this Circular has added the case of ad hoc inspection of foreign investment activities in Vietnam: “showing signs of violations in investment activities of foreign-invested economic organizations and foreign-invested projects”.
This Circular will take effect from April 01, 2022 and replace Circular No. 09/2016/TT-BKHDT.