On April 1, 2022, Circular 02/2022/TT-BKHDT issued by the Ministry of Planning and Investment officially took effect (“Circular 02“), Circular 02 guides the supervision and assessment of foreign investment activities in Vietnam

The following are the main contents of Circular 02:

1. Regarding supervision of foreign investment activities in Vietnam: Mainly in monitoring activities, specifically:
* The Investment Registration Agency monitors the following contents:
a) The investor’s implementation of the reporting regime;
b) Summarize the project implementation situation;
c) Summarize the exploitation and operation of the project;
d) Summarize the implementation of requirements on environmental protection, land use, and use of mineral resources of the project;
d) The handling and observance of handling measures by investors and economic organizations;
e) Report and propose plans to handle difficulties, problems, and issues beyond their competence.
* The State Management Agency in charge of investment shall monitor the following contents:
a) The implementation of the reporting regime by the investment registration agency;
b) The observance of handling measures by the investment registration agency;
c) The contents of the monitoring regulations of the Investment Registration Authority above.
** How to conduct follow-up: Regular, thematic.

2. Regarding the assessment of foreign investment activities in Vietnam: Including closing assessment, impact assessment, and unexpected assessment (details are specified in Articles 20, 21, and 22 of Circular 02, interested readers can read more, so you can refer to it for more details).

Circular 02 takes effect on April 1, 2022, and replaces Circular 09/2016/TT-BKHDT dated June 30, 2016.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

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