During business operations, in order to meet customer and market demands or to align with business needs, resources, and finances, enterprises may adjust the objectives and scale of their investment projects. However, this is not merely a business decision; it is also a mandatory legal procedure under the provisions of the Investment Law.
To support enterprises in this process, VPL provides professional services for adjusting investment project objectives and scale, helping businesses resolve issues quickly, effectively, and in full compliance with the law.
Cases requiring adjustment of project objectives or scale on the IRC
Clause 2, Article 41 of the 2020 Investment Law stipulates that investors must carry out the procedure to adjust the Investment Registration Certificate if the project adjustment changes the content of the certificate. Accordingly, investors are required to adjust the Investment Registration Certificate, specifically regarding objectives and scale, in the following cases:
Investors increase the scale of the project
Investors decrease the scale of the project
Investors add new objectives to the project
Investors remove certain objectives from the project
Benefits of using VPL’s services
Comprehensive advice
VPL’s team of lawyers and legal consultants provides comprehensive advice on all matters related to adjusting project objectives and scale, based on the actual situation of each enterprise. This ensures that businesses fully understand the regulations and can make well-informed decisions.
Efficient and fast
With years of experience in corporate and investment law, VPL prepares and drafts all necessary documents thoroughly, avoiding repeated amendments or multiple rounds of legal document collection. As a result, the process is more efficient and faster, saving time and effort for the enterprise.
Mitigating legal risks
Adjusting the project’s scale and objectives is not merely an administrative procedure but a critical legal matter affecting the project and its future operations. By using VPL’s services, businesses are ensured legal safety and minimized risks before, during, and after the adjustment.
Full legal support
VPL does not stop at completing the procedure; we continue to accompany enterprises, providing advice on all legal matters arising after the adjustment and throughout the business operation.
Scope of Services
When using VPL’s service for adjusting project objectives or scale, clients receive comprehensive support in the following areas:
Detailed and in-depth consulting: VPL’s team of legal experts provides thorough analysis and advice on all legal aspects, as well as options for adjusting objectives and scale, ensuring suitability to the specific characteristics of each project and full compliance with legal regulations.
Representation for full adjustment procedures of the Investment Registration Certificate: VPL prepares all documents, submits them on behalf of clients, receives the results, and handles all communications and explanations related to adjusting the Investment Registration Certificate. The procedure is carried out at the Department of Finance or the Management Boards of Export Processing Zones, Industrial Parks, or Economic Zones.
Representation for full adjustment procedures of Enterprise Registration Content: VPL prepares the documents and acts as authorized representative to carry out the procedure to adjust the Confirmation of Change in Business Registration Content, specifically for changes in business lines. The procedure is conducted at the Business Registration Office of the Department of Finance where the enterprise is headquartered.
Support for review and legal advice: VPL assists in reviewing legal documents and the actual implementation status of the project, providing legal advice on matters that clients should note and on issues that authorities may inspect or audit.
Reception of inspection teams: In cases where project inspections arise, VPL supports clients in receiving the inspection team and preparing the necessary documents and materials to effectively explain the inspection content.
Support for investment project reporting: If investors have not yet submitted the required investment project reports under the law, VPL assists in preparing and submitting full reports as required by the relevant investment management authority (if any).
Frequently asked questions
What documents are required for adjusting project objectives and scale?
Pursuant to Clause 2, Article 47 and Clause 1, Article 44 of Decree 31/2021/ND-CP, the documents for adjusting project objectives and scale include:
- Written request for adjustment of the investment project
- Report on the project implementation status up to the adjustment date
- Investor’s decision on the adjustment of the investment project
- A photocopy of the latest annual financial statement with the seal affixed on the first page (for foreign-invested enterprises, the financial statement must be audited).
- A certified copy of the latest Enterprise Registration Certificate.
- A certified copy of the latest Investment Registration Certificate.
- Explanation and supporting documents related to the adjustment of project objectives and scale
How long does it take to process documents for adjusting project objectives and scale?
The time to complete the procedure for adjusting project objectives and scale depends on the nature of each case, typically ranging from 30 to 35 working days, counted from the date VPL receives a fully signed dossier and all necessary documents from clients. After receiving the documents, VPL will provide advice and a detailed timeline along with the fee estimate.
Does adjusting the project scale affect the subsidiary permits already issued?
Adjusting the scale of an investment project does not necessarily require modifications to all related permits. However, if the adjustment changes the waste generation source, volume, waste characteristics, or environmental impact, the investor is responsible for carrying out the procedure to adjust the Environmental Permit in accordance with the 2020 Law on Environmental Protection.
Can the project be put into production after adjusting its scale?
After receiving the Investment Registration Certificate reflecting the adjusted project scale, the investor may only put the project into production after completing all related legal procedures, including environmental compliance, fire safety, construction, and other technical requirements as prescribed by law.
What criteria do authorities consider when reviewing and approving the registration for increasing the project’s scale?
Authorities will review the registration for increasing the project’s scale based on criteria such as: compliance with local planning; the investor’s financial and technical capacity; the environmental impact and corresponding control measures; and the project’s overall compliance with legal regulations.
What should be noted when authorities inspect the project implementation site?
When authorities inspect the project implementation site, investors must ensure that the site complies with the approved planning and has complete and valid legal documentation. Factories and facilities must be constructed according to the building permit, have passed completion inspection, and been put into use as prescribed. At the same time, no illegal constructions or misuse of facilities are allowed.
Get more support
If you are in need of a reputable legal consultancy unit, effective and dedicated companion in every legal issue, do not hesitate to contact VPL today!
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0274 650 7999
