PROCEDURE FOR EXTENDING THE DURATION OF AN INVESTMENT PROJECT FOR PROJECTS THAT HAS BEEN ISSUED WITH THE INVESTMENT REGISTRATION CERTIFICATE AND NOT SUBJECT TO APPROVAL FOR ITS INVESTMENT GUIDELINES

1. Legal Basis?

- Law on Investment No. 61/2020/QH14 dated June 17, 2020;

- Law No. 03/2022/QH15 dated January 11, 2022, on amendments to certain articles of the Law on Public Investment, the Law on Public-Private Partnership Investment, the Law on Investment, the Law on Housing, the Law on Procurement, the Law on Electricity, the Law on Enterprises, the Law on Special Excise Duties and the Law on Civil Judgment Enforcement;

- Law No. 57/2024/QH15 dated November 29, 2024, amendments to Law on Planning, Law on Investment, Law on Public-Private Partnership Investment, and Law on Bidding;

- Law No. 90/2025/QH15 dated June 25, 2025, Amending and Supplementing a Number of Articles of the Bidding Law, the Law on Investment in the Form of Public-Private Partnership, the Customs Law, the Law on Value-Added Tax, the Law on Import Duty and Export Duty, the Law on Investment, the Law on Public Investment, and the Law on Management and Use of Public Property;

- Decree No. 31/2021/ND-CP dated March 26, 2021, detailing and guiding the implementation of a number of articles of the Law on Investment;

- Decree No. 239/2025/ND-CP dated September, 03, 2025, Amending and supplementing a number of articles of the Government’s Decree No. 31/2021/ND-CP dated March 26, 2021 detailing and guiding the implementation of a number of articles of the Law on Investment;

- Circular No. 03/2021/TT-BKHDT dated April 9, 2021, prescribing the forms and reports related to investment activities in Vietnam, offshore investment and investment promotion activities;

- Circular No. 25/2023/TT-BKHDT dated December 31, 2023, Amending and supplementing a number of articles of Circular No. 03/2021/TT-BKHĐT dated April 9, 2021,  of the Minister of Planning and Investment prescribing the forms and reports related to investment activities in Vietnam, offshore investment and investment promotion activities.

2. What is investment project?

According to Clause 4, Article 3 of the Law on Investment 2020, Investment project means a collection of proposals for the expenditure of mid-term or long-term capital to carry out investment activities in a particular administrative division over a certain period of time.

3. Duration of investment projects?

According to Clause 1 and 2, Article 44 of the Investment Law 2020 and Clause 15, Article 6 of Law No. 90/2025/QH15, the duration of investment projects is specified as follows:

- Investment project inside an economic zone: shall not exceed 70 years;

- Investment project outside an economic: shall not exceed 50 years;

- Investment projects implemented in areas with difficult socio-economic conditions, areas with particularly difficult socio-economic conditions, or projects with large investment capital but slow capital recovery; projects investing in the construction and operation of infrastructure in high-tech zones, high-tech industrial zones, or concentrated digital technology zones; or projects entitled to special investment incentives or support: the duration may exceed 50 years but shall not exceed 70 years.

4. Conditions for extending the duration of an investment project?

Pursuant to Clause 4, Article 44 of the Investment Law 2020 and Clause 4, Article 27 of Decree No. 31/2021/NĐ-CP, the conditions for extension are as follows:

- The project does not fall under any of the following cases:

+ Investment projects using obsolete, environment threatening or resource-intensive technologies;

+ Investment projects in which the investor must transfer assets without reimbursement to the State of Vietnam or the Vietnamese side.

-  The project conforms to the national planning, regional planning, provincial planning, urban planning and special administrative-economic unit planning (if any); conforms to the objecties and orientations for urban development or residential housing development plans and programs (with respect to project on investment in residentical housing and urban area construction);

- The conditions for land allocation or land lease prescribed by the law on land are met (in the case of applying for extension of land use term).

5. Dossier for extending the duration of an investment project for projects that has been issued with the investment registration certificate and not subject to approval for its investment guidelines?

Pursuant to Clause 2, Article 55 of Decree No. 31/2021/ND-CP and Clause 22, Article 1 of Decree No. 239/2025/ND-CP, the dossier includes:

- An application form for extension of the project’s duration (Form A.I.14 issued together with Circular No. 03/2021/TT-BKHDT);

*Note: For individual investors and legal representatives who are Vietnamese citizens, or Vietnamese citizens with dual nationality who choose to use their Vietnamese nationality, only the following information needs to be provided: full name, personal identification code, contact address, phone number, and email. For individual investors and legal representatives who are foreign nationals, or Vietnamese citizens with dual nationality who choose to use their foreign nationality, all information must be provided as currently required.

- Report on the project implementation status up to the time of submission of the dossier;

- Investment Registration Certificate;

- Certificate of land use rights or equivalent document;;

- Document (s) proving the financial capacity of the investor including at least one of the following documents::

+ The investor’s financial statements for the last two years;;

+ Commitment of the parent company to provide financial support;

+ Commitment of a financial institution to provide financial support;

+ Guarantee for the investor’s financial capacity;

+ Other document proving the investor’s financial capacity.

6. Procedure for extending the duration of an investment project for projects that has been issued with the investment registration certificate and not subject to approval for its investment guidelines?

Pursuant to Clause 2, Article 55 of Decree No. 31/2021/ND-CPand Clause 22, Article 1 of Decree No. 239/2025/ND-CP

•  Procedure:

Step 1: Prepare the dossier for extending the duration of the investment project;

Step 2: The investor submits one set of the extension dossier, together with an electronic copy, to the Investment Registration Authority.;

Step 3: Within 02 working days from the receipt of the valid dossier, the Investment Registration Authority shall send the application to the land authority and relevant authorities to seek their opinions about fulfillment of the conditions;

Step 4: Within 07 days from the receipt of the dossier, the enquired authorities shall give their opinions about fulfillment of the conditions;

Step 5: Within 14 working days from the receipt of the valid dossier, the Investment Registration Authority reviews the conditions, consolidates the opinions, and issues a decision to extend the duration of the investment project;

Step 6: The Investment Registration Authority returns the new Investment Registration Certificate reflecting the adjusted duration of the investment project to the investor.

•  Investment registration authority:

- Departments of Finance shall handle the investment projects located outside industrial parks, export-processing zones, hi-tech zones and economic zones, except for special cases specifically provided below.

- Management boards of industrial parks, export-processing zones, hi-tech zones and economic zone shall handle investment projects within industrial zones, export processing zones, high-tech zones, and economic zones, except for special cases specifically provided below.

- The investment registration authority of the administrative division where the investor executes the investment project, places or intends to place the head office or operating office to execute the investment project shall issue, adjust and revoke investment registration certificates with respect to the following investment projects:

+ Investment projects that are executed in at least 02 provinces;

+ Investment projects that are executed both inside and outside industrial parks, export processing zones, hi-tech zones and economic zones;

+ Investment projects which are executed inside industrial parks, export processing zones, hi-tech zones or economic zones where the industrial park, export processing zone, hi-tech zone or economic zone management boards have not yet been established or which are not under the management of the industrial park, export processing zone, hi-tech zone or economic zone management boards

Extending the duration of an investment project, while not overly complicated, is still a procedure that requires a solid understanding of investment law and careful preparation of each document. For projects that are not subject to approval for its investment guidelines, understanding the specific requirements of the dossier and the processing procedure not only helps investors save time and costs but also avoids the risk of project disruption when the current duration expires. In the context of frequently changing laws, timely updates on regulations and correct implementation from the outset are key to maintaining project stability and sustainable development. Investors should proactively prepare the dossier before the deadline and, when necessary, seek professional consulting services to receive comprehensive support throughout the extension procedure.

 

DB Legal will not be responsible for any use or application of this information for any business purpose. For in-depth advice on specific cases, please contact us.

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