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Supplement the list of restrictions on market access for foreign investors

  20/05/2021

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Supplement the list of restrictions on market access for foreign investors

This is an internal new point in Decree 31/2021/ND-CP compared to the previous regulations. The list of industries and trades to avoid market access for foreign investors is officially announced and promulgated, specifically as follows:

– Foreign investors are only allowed to invest in 25 industries and trades that have not yet been able to access the market as prescribed in Section A of Appendix I to this Decree: Trading in goods and services on the list of goods and services. goods or services, performing state monopolies in commercial fields, etc.

– The list of industries and trades with market access with  conditions for foreign investors  includes 59 items. If investing in industries and trades except for 84 industries, including industries with market access with the conditions and industries and professions that have not yet been able to access markets as mentioned in point a above, foreign investors will be apply market access conditions as for domestic investment regulations.

Additional subjects belonging to the investment incentive industries

Decree 31/2021/ND-CP has also added the subjects in the professions eligible for investment incentives, including:

– Invest in research, distribution and production of technological, biological, and food products.

– Producing wooden products; distributes artificial boards, including: plywood, MDF board, bar plywood, .

– Strongly invest in, operate and manage scientific infrastructure works in industrial clusters.

– Invest in mutual support for the prevention or combat of gender-based violence in the community for sex workers.

– Invest in making use of excess heat from exhaust gases to generate electricity by construction material manufacturing facilities in order to save energy and protect the environment…

Currently, the number of industries eligible for investment incentives under the new regulations are: Science and technology, electronics, mechanics, material production, notification engineering (20 industries and occupations); healthcare (09 branches and occupations); Agriculture (11 industries and occupations); Environmental protection, infrastructure construction (23 industries and occupations); Education, society, culture, sports; Other industries and occupations (04 industries and occupations).

Change and unify the list of investment projects in areas with difficult socio-economic conditions

Decree 31 specifically lists the list of areas eligible for investment incentives in areas with difficult socio-economic conditions or areas with typical difficult socio-economic conditions as prescribed in the Appendix. III promulgated together with the Decree.

Additional conditions for those eligible for investment incentives

According to Point c, Clause 4, Article 19 of Decree No. 31/2021/ND-CP, investment projects for the consumption of employees with compulsory disabilities from 30% of the number of employees, on average annually or more, are eligible for incentives. invest.

For  product distribution chains of small and medium enterprises , they are entitled to investment incentives when they meet the following conditions:

– At least  80% of participating enterprises are small and medium enterprises;

– There are at least 10 locations to distribute all kinds of goods to consumers;

– At least 50% of the chain’s revenue is generated by small and medium enterprises participating in the chain.

Regulations on time limit for investment projects

Article 56 of Decree 31/2021/ND-CP stipulates the time limit for operation of an investment project as follows: Conditions on the total time limit for operation of an investment project must not exceed 12 months. In case the said time limit is exceeded from the date of shutdown, the investment registration agency terminates or terminates part of the operation of that investment project.

For “cases” of investment project activities according to court judgments, decisions, judgments with the effect of arbitration or decisions of state management agencies in charge of investment, the time limit for operation shall be limited. The action of an investment project is determined by a judgment, court decision, an arbitral award or by a decision of a national investment management agency.

Adding the case of termination of operation of an investment project

Accordingly, Decree 31 has added cases of  termination of operation of investment projects:

– Terminate the operation of an investment project in case the investor conducts investment activities on the basis of poor quality civil communication created in accordance with the civil law.

– Terminate the operation of investment projects according to court judgments or decisions or arbitration awards.

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