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Firstly, the investors must check commitments of Vietnam on opening markets to the foreign investors. It is necessary for the investors to implement their project in Vietnam. They are prescribed by laws, ordinances, decrees or treaties on investment (Viet Nam has committed 11 service sectors and about 110 subsectors, which are diversified in nature, from telecommunications, finance, transportation to such services as services incidental to manufacturing, audio-visual services)
Secondly, the investors must check investment conditions for foreign investors. It means conditions which the foreign investors have to satisfy when making investment in conditional investment sectors or trades. They include:
-          Condition on charter capital holding ratio of a foreign investor in an economic organization;
-          Condition on investment form;
-          Condition on scope of investment activities;
-          Condition on Vietnamese partner participating in investment activities;
-          Other conditions
Principles of application of investment conditions for the foreign investors:
Foreign investors conducting investment activities in different sectors or trades have to satisfy all the investment conditions prescribed for such sectors or trades;
Foreign investors governed by treaties on investment containing different provisions on investment conditions may choose to apply investment conditions prescribed in one of such treaties. Foreign investors shall exercise their rights and perform their obligations under the treaty they have chosen;
For service sectors and sub-sectors which are neither committed nor specified in Vietnam’s WTO Schedule of Commitments and other treaties on investment but for which Vietnamese law already provides investment conditions for foreign investors, these provisions of Vietnamese law shall apply;
Foreign investors from territories that are not WTO member states conducting investment activities in Vietnam may apply investment conditions like those from countries or territories being WTO member states, unless otherwise prescribed by laws of and treaties between Vietnam and such countries or territories;
For service sectors and sub-sectors which are neither committed nor specified in Vietnam’s WTO Schedule of Commitments and other treaties on investment and for which Vietnamese law does not provide investment conditions for foreign investors, the investment registration agencies shall propose them to the Ministry of Planning and Investment and line ministries for consideration and decision;
In case foreign investors have been licensed to conduct investment activities in service sectors or sub-sectors mentioned as above and published on the National Foreign Investment Portal, the investment registration agencies shall consider and decide on investment activities of foreign investors in such sectors or sub-sectors without having to consult line ministries.
Thirdly, the investors choose the investment forms. It can be:
-          Invest in establishing economic organizations;
-          Make investment through capital contribution or purchase of shares or capital contributions in economic organizations;
-          Make investment under business cooperation contracts;
-          Acquire through transfer of investment projects or other cases of taking over investment projects.
Fourthly, the investors choose a location for their project. It depends on the investors’ desire and can be affected by service sectors or sub-sectors they will invest. Therefore, the investors can lease an office of an individual or organization in Vietnam. The investors can also propose land use to the competent authorities.
Finally, the investors must prepare a dossier to apply for the project. The dossier includes:
-          A written proposal for implementation of the investment project;
-          A copy of the identify card or passport, for individual investors; a copy of the establishment decision or an equivalent document certifying the legal status, for institutional investors;
-          Proposals for the investment project;
-          A copy of one of the following documents: the investor’s financial statement of the last 2 years; financial support commitment of the parent company and of a financial institution; guarantee for the investor’s financial capacity; and document explaining the investor’s financial capacity;
-          Proposals on land use; in case the investor does not propose the State to allocate or lease land or to permit change of land use purposes, the investor shall submit a copy of the site lease agreement or another document certifying that the investor has the rights to use the site used for project implementation;
-          Explanations about use of technologies, for the projects (if any)
-          The BCC, for investment projects in the form of BCC (if any)
-          Other documents.

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