To set up a business in Vietnam by foreign direct investment, the foreign investors are required an investment license registering from the Ministry of Planning and Investment (MPI).
Base on the investment business lines, investment conditions, a scale of the projects and where the investment project is located, the Vietnam State authorities would be involved. The MPI takes a charge of developing legislation, guiding, consulting and coordinating with the other state authorities in regard to all investment in Vietnam.
So, the foreign investors should apply for an investment license at the MPI which has contact role first. The People's Committee will control all administer investment activities within its city or province and issue the investment license to the foreign investor. In case, the business sets up in an industrial zone, the management board of an industrial zone will have authority over the investment licensing process.
For the project is larger than U.S 14.2 million dollar or in the conditional investment area, the MPI and the other ministries will be involved in the evaluation process to recommend to the Prime Minister for approval.
The other ministries involved in investment project license would be:
These Ministries are involved to ensure the foreign investment comply with the specific industry's regulations.
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