Projects that are 'suspended' for too long may be terminated or stopped operating.

Including proposals to amend a number of regulations on suspension and termination of investment projects.

Specifically, the law drafting agency proposed to amend and supplement Article 47 of the Investment Law 2020 to add provisions on suspension of investment projects in case the investor fails to comply with the contents of the investment policy approval, the Investment Registration Certificate and has received a document from the investment registration agency on failure to comply with the contents of the investment policy approval, the Investment Registration Certificate, etc.

At the same time, amend and supplement Article 48 of the Investment Law 2020 to add provisions on termination of investment project operations in cases where the economic organization has been dissolved but does not terminate operations, or does not transfer or transfer other ownership rights according to the law on investment projects.

In addition, contents related to procedures for terminating investment projects facing difficulties and problems will continue to be studied, revised and completed in the draft Decree guiding the Law.

According to the drafting agency, the amendment and supplementation of these regulations is to ensure the legal basis for suspending and terminating investment projects, avoiding the situation where projects are delayed for too long and State agencies cannot terminate them.

Minister of Finance Nguyen Van Thang presents a report. (Photo: National Assembly Media).

The drafting agency also proposed to amend and supplement a number of articles of the Railway Law No. 95/2025/QH15 in the direction that for national and local railways, investors are allowed to extend the project's operating period according to the provisions of the law on investment.

In addition, in case the investor does not propose to extend the project's operating period, the investor shall transfer all assets formed from the project to the State after the project's operating period expires, and the State shall pay the investor according to the provisions of law.

Examining this content, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai said that according to the provisions of the current Investment Law and the draft amended Investment Law, the term of "investment projects with large investment capital but slow capital recovery" is 70 years.

However, the appraisal agency believes that due to the special nature of railway projects, many cases require a longer investment period to recover capital, and with private investment, the economic efficiency factor for investors is also raised.

Mr. Mai stated that there were opinions suggesting to study other handling methods besides transferring the project with compensation in case the investor is allowed to extend but does not propose an extension, ensuring harmony of interests of the State, people and investors.

Along with that, there are opinions suggesting to study the application to some special projects when permitted by competent authorities, not to apply to all projects.

Regarding this content, the draft Law on Civil Aviation of Vietnam (replacement) also proposes to amend the same Point c Clause 3 Article 24 of the Law on Railways but the proposal in the two draft laws is different in content. The reviewing agency requested the Government to report and unify the proposed content.

PHAM DUY

Source: https://vtcnews.vn/du-an-tréo-qua-lau-co-the-bi-cham-dut-ngung-hoat-dong-ar986516.html