Licensing time for foreign investment projects cut by half
Ha Noi, Nov. 3 (VNA) -- The licensing time for foreign direct invested projects in Ho Chi Minh City will be cut by half to 20 days for those in the fields under State special control and those that require examination from specialized branches. The licensing time for small projects in the fields that the State is trying to stimulate investment in will not exceed 10 days.
For those projects that fall into the areas which the Planning and Investment Service is authorized by the People's Committee to consider, the licensing time will not last longer than five days after the application has been submitted to the People's Committee.
According to a directive recently issued by the committee to improve the environment for foreign direct investment, authorized agencies must answer investors within 15 days of receiving questions on policies for projects to invest in the fields in which no project has been licensed before. This policy also applies to questions from investors regarding projects which are to be licenced by the Prime Minister and the Ministry of Planning and Investment. Similarly, authorized agencies have to supply information to investors within 12 days of receiving requests regarding agreement on construction sites as well plans for projects in appropriate fields and situations.
The Planning and Investment Service and the City Southern Management Board are responsible for answering investors' questions about land rent prices, the status of land tracts, and the origin of the area that an investor plans to invest in - all within 25 days.--VNA
