On February 10, 2025, the Government issued Decree No. 19/2025/ND-CP, detailing the special investment procedure under Article 36a of the Law on Investment. The decree introduces a fast-track licensing mechanism for eligible projects and prevails over inconsistent prior regulations. Non-eligible projects remain subject to the Law on Investment 2020 and Decree No. 31/2021/ND-CP. Applicable to both domestic and foreign investors, Decree 19 aims to attract FDI in high-tech and innovation-driven sectors and enhance Vietnam’s overall investment competitiveness.
Key highlights include:
- The time for issuing an Investment Registration Certificate (IRC) is reduced to 15 days, compared to 6–12 months under the standard procedure.
- Several pre-approval requirements are removed, including construction permits, environmental impact assessments (EIA), and fire safety approvals before project implementation.
- A post-approval supervision model is applied, based on the investor’s commitment to comply with applicable regulations.
- Investors may use a deposit or bank guarantee instead of capital contribution verification.
- The procedure applies to both domestic and foreign investors, with priority given to high-tech FDI projects.
- Only projects in priority sectors and locations (such as high-tech, R&D, industrial parks, and economic zones) are eligible.
- The IRC application dossier is simplified, focusing mainly on the investor’s commitments and project proposal.
- No separate construction permit is required; investors only need to submit a construction commencement notice at least 30 days in advance.
- Environmental procedures are simplified, and a full EIA is not required at the IRC stage.
- Investors are fully responsible for compliance and self-monitoring, while authorities conduct post-licensing inspections.
- Deposits or guarantees are refunded in stages as the project reaches construction and operation milestones.
Overall, the policy reduces costs, speeds up project implementation, and enhances Vietnam’s attractiveness as an investment destination. Asia Legal will continue to update clients on newly issued legal regulations, ensuring that their interests are fully protected and supported.
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