New provisions regarding termination of investment project’s operation according to Law on Investment 2020

Nội dung bài viết

In addition to the points previously specified in the Law on Investment 2014, Article 48 of the Law on Inverstment 2020 specifically applied by Articles 57 to 60 of Decree 31/2021/ND-CP stipulates that the project shall be terminated from investment operation if it is in one of the following new cases:

Firstly, the project subject to approval of investment policy is terminated according to the opinion of the agency approving the investment policy.

Secondly, the investment registration agency or the investor terminates wholly or partly of the investment project's operation:

  • If the Investor does not terminate the project by himself according to the termination conditions in the contract/charter or the term of operation of the investment project expires, the investment registration agency shall decide to terminate.
  • If only part of project is terminated, the Investor shall perform the rest and adjusts the project’s operation.
  • If the project has been granted an Investment Registration Certificate, the Investment registration agency shall decide to terminate the project’s operation and revoke the license.
  • If the project has land recovered because it is not put into use or is slow to put into use, the competent authority shall issue a decision on land recovery before deciding to terminate the operation of the investment project.
  • For the projects specified at Points a, b and đ, Clause 2, Article 48 of the Law on Investment 2002, the competent authority must rafticale a minutes before deciding to terminate investment operation.

Picture source: Thukyluat


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