On November 29th, 2024, the National Assembly passed Law No. 57/2024/QH15 – the Law amending and supplementing the Planning Law, the Investment Law, and the Bidding Law. In which, the Investment Law 2020 has several notable amendments and supplements as follows:
– Amend and supplement Point đ, Clause 2, Article 47 of the Investment Law, regarding cases where the State management agency has the right to stop or partially stop an investment project, when:
+ The investor does not comply with the contents of the investment policy approval, the Investment Registration Certificate and has been administratively penalties but continues to violate, except in cases where the investor does not comply with the schedule in the investment policy approval document, Investment Registration Certificate or the document approving the adjustment of the investment policy, the adjusted Investment Registration Certificate.
– Additional a case where the Investment Registration Agency has the right to terminate or partially terminate the operation of an investment project (Point a1 added after Point a, Clause 2, Article 48 of the Investment Law), when:
+ After 24 months from the end of progress in implementing the investment project’s operational objectives or operational objectives of each phase (if any) specified in the investment policy approval document or Investment Registration Certificate, the investor still does not complete this operational objective and is not subject to schedule adjustment according to regulations, except in cases where the investment project is subject to land recovery due to failure to use or delayed use according to regulations Land Law.
– Amend and supplement Appendix IV on the List of conditional investment and business lines:
+ Remove the business lines “Fire prevention and fighting service business” (No. 11) and “Specialized electricity consulting business” (No. 50) from the List of conditional investment and business lines.
+ Additional the following conditional investment and business lines:
・Import, temporary import for re-export, temporary export for re-import of unmanned aircraft, other flying vehicles, aircraft engines, aircraft propellers, equipment and devices of unmanned aircraft, and other flying vehicles (No. 90a).
・Business of unmanned aircraft, other flying vehicles, aircraft engines, aircraft propellers, equipment and devices of unmanned aircraft, and other flying vehicles (order number 90b).
・Research, manufacture, test, repair, and maintenance of unmanned aircraft, other flying vehicles, aircraft engines, aircraft propellers, equipment and devices of unmanned aircraft, and other flying vehicles (No. 90c).
・Business of data intermediary products and services (No. 230).
・Business of data analysis and synthesis products and services (No. 231).
・Business of data platform services (No. 232).
Law No. 57/2024/QH15 takes effect from January 15th, 2025.
