Ho Chi Minh City cuts processing time for 8 administrative procedures in the investment sector

The Ho Chi Minh City People's Committee has just approved a plan to simplify and reduce the time for 8 administrative procedures in the investment sector managed by the Department of Finance.

According to the new plan, the procedure for granting investment registration certificates for projects not subject to investment policy approval will reduce the processing time from 10 days to 8 days (equivalent to 6 working days) from the date of receiving valid documents, a reduction of 20%.

For procedures for capital contribution, purchase of shares and capital contributions by foreign investors, processing time is shortened from 15 days to 8 days, a reduction of 46.67%.

Businesses wait to complete procedures at an administrative agency in Ho Chi Minh City.

Procedures for adjusting projects that have been granted investment registration certificates and are not subject to approval for investment policy adjustment are also simplified and processing time is reduced.

In case of adjusting progress, operating period or updating project implementation location according to administrative unit arrangement, processing time is reduced from 3 working days to 2 days.

In case investors need to update information on the location of investment projects based on the arrangement of administrative units and two-level local government organizations, the City will reduce the time for handling procedures from 7 working days to 4 days.

For project adjustment dossiers according to court or arbitration judgments or decisions, the processing time is reduced from 5 days to 3 days.

For the procedure of re-issuing and correcting investment registration certificates, the time is reduced from 5 working days to 3 days, a reduction of 40%.

Procedures for establishing an executive office of a foreign investor in a business cooperation contract (BCC) are reduced from 15 days to 7 working days.

Meanwhile, the procedure for terminating the executive office of a foreign investor in a business cooperation contract, previously did not specify a time limit, but according to the new plan, the processing time is 5 working days from the date of receiving a complete and valid dossier.

For procedures to terminate investment projects under the approval authority of the provincial People's Committee or the Department of Finance issuing investment registration certificates, the processing time is clearly specified as 5 working days.

Similarly, the procedure for suspending a project has changed from having no time limit to having a processing time of 3 working days for projects with investment certificates issued by the Department of Finance, and 5 working days for projects under the approval authority of the provincial People's Committee.

Standardizing time helps overcome the prolonged situation in handling administrative procedures, ensuring transparency and publicity, creating convenience for investors when carrying out procedures.

Source: https://baodautu.vn/tphcm-cat-giam-thoi-gian-giai-quyet-8-thu-tuc-hanh-chinh-trong-linh-vuc-dau-tu-d441367.html