TEMPORARY SUSPENSION OF INVESTMENT PROJECT ACTIVITIES: LEGAL REGULATIONS THAT YOU NEED TO KNOW

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During project implementation, investors may encounter many problems that may arise, leading to temporary suspension of investment project activities. So what does the law stipulate about temporarily suspension of investment project operations? Find out with OTIS LAWYERS in the article below!

Legal basis

Investment Law 2020

Decree 31/2021/ND-CP Detailing and guiding the implementation of a number of articles of the investment law

Circular 09/2021/TT-BKHDT Guidance on selecting investors to implement investment projects according to the public-private partnership method and investment projects using land

In case of temporarily suspension of investment project activities

Investors who stop operating an investment project must notify the investment registration agency in writing. In case of shutdown of an investment project due to force majeure, the investor will be exempted from land rent and reduced land use fees by the State during the shutdown period to overcome the consequences caused by force majeure.

The state management agency in charge of investment shall decide to stop or partially stop the operation of an investment project in the following cases:

  • To protect relics, relics, antiques, and national treasures according to the provisions of the Cultural Heritage Law;
  • To remedy violations of the law on environmental protection at the request of state environmental management agencies;
  • To implement measures to ensure labor safety at the request of state labor management agencies;
  • According to court judgments, decisions, and arbitration awards;
  • The investor did not comply with the investment policy approval and Investment Registration Certificate and was sanctioned for administrative violations but continued to violate them.

The Prime Minister decides to stop or partially stop the operation of an investment project in case the implementation of the investment project causes harm or has the risk of harming national defense and security at the request of the Prime Minister. Ministry of Planning and Investment.

Procedures for temporarily suspension of investment project activities

Step 1: Prepare documents

Investors prepare complete documents according to regulations. The dossier set includes:

  • Notice of temporarily suspension of investment project operations. The suspension notice should have the following main contents: Investor information; information about economic organizations implementing investment projects; project performance (implementation of administrative procedures, implementation progress); performance of financial obligations; content of temporary suspension of investment project activities; investor commitment.
  • Authorization document for applicants who are not legal representatives; Authorization contract or service contract for the organization performing the service of submitting documents on behalf of the organization and a letter of introduction from the organization to the individual submitting the application.
  • Decision and meeting minutes (if any) on suspension.
  • Copy of Investment Policy Decision/Investment Registration Certificate/Investment Certificate/Investment License/Business License or Investment Policy Decision.

Step 2: Submit documents

Investors submit applications at the Investment Registration Office - Department of Planning and Investment of the province/city. Specialists receiving documents from the Investment Registration Department check the documents. If the application is valid, the receiving specialist will receive the application and issue a Receipt to the Investor.

Step 3: Get results

Based on the appointment date on the Receipt, the Investor goes to the Investment Registration Office to receive the results of processing the application.

  • Case 1: Department of Planning and Investment receives the Notice of temporary suspension of investment project operations and records the project's operational status.
  • Case 2: In case of force majeure, the investor is exempted from land rent during the period of temporary shutdown to overcome the consequences caused by force majeure.

Investment Law consulting services of OTIS LAWYERS

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OTIS LAWYERS is always proud to be a professional unit in the field of investment law consulting. With a team of highly qualified lawyers, extensive experience and dedication to our customers, we believe we will provide our customers with the best, most professional service at a reasonable cost and time. Complete the procedure as quickly as possible. We commit that all customer information is absolutely confidential and customer interests are always put first.

For any questions or comments, please contact:

OTIS AND PARTNERS LAW FIRM

Office address: K28 - Group K, Lane 68 Trung Kinh, Yen Hoa Ward, Cau Giay District, Hanoi

Email: [email protected]

Hotline: 0987748111

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