9th Floor Diamond Plaza Building, 34 Le Duan, Ben Nghe Ward, District 1, Ho Chi Minh City
info@bkclaw.vn
0901 333 341
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In the context of rapid socio-economic development, the termination of foreign investment projects in Vietnam marks an important turning point in the country’s economic development strategy. This decision often stems from various factors, including changes in investment policies, global economic conditions, or internal project challenges. Although it may be a difficult move, it also opens opportunities for Vietnam to adjust and optimize its investment environment, thereby attracting higher-quality projects more aligned with the country’s sustainable development goals.
An investment project is a proposal to invest medium- or long-term capital to carry out business investment activities in a specific locality over a defined period. Since investment projects are registered with state authorities, their termination must also be reported to the competent authorities for strict and accurate monitoring.
Thus, termination of an investment project means the complete cessation and conclusion of specific business investment activities that have been planned in terms of time, location, and manpower.
An operating investment project may be terminated at the investor’s discretion or by decision of the investment management authority. However, termination must comply with the provisions of the Investment Law and guiding documents. Pursuant to Clause 1, Article 48 of the Investment Law 2020, investors may terminate project operations in the following cases:
1. The investor decides to terminate the project operations;
2. Termination occurs under conditions stipulated in the contract or company charter;
3. Expiration of the project’s operational duration.
The investment registration authority terminates or partially terminates project operations in the following cases:
1. The project falls under one of the cases specified in Clauses 2 and 3, Article 47 of the Investment Law 2020 and the investor is unable to remedy the conditions leading to suspension;
2. The investor is no longer permitted to use the investment location and fails to adjust the investment location within 06 months from the date of being denied continued use, except as provided in point d below;
3. The project has ceased operations and 12 months have passed since cessation, during which the investment registration authority has been unable to contact the investor or their lawful representative;
4. The project is subject to land recovery due to failure to put land into use or delayed land use under land law provisions;
5. The investor fails to provide a deposit or guarantee for project implementation obligations as required by law for projects subject to performance guarantee;
6. The investor carries out investment activities based on simulated civil transactions under civil law provisions;
7. Pursuant to court judgments, decisions, or arbitral awards.
**Preparation of Dossier:**
Pursuant to Clause 2, Article 57 of Decree 31/2021/ND-CP, depending on the specific case, the dossier includes one or more of the following documents:
+ Notification of project termination (Form A.I.15);
+ Decision to terminate project operations;
+ Investment Registration Certificate (if any);
+ Certified copy of documents recording project termination (applicable when termination is based on company charter or contract provisions).
**Case 1: Investor Voluntarily Terminates Project Operations** (including voluntary decision or termination under contract/charter provisions or upon expiration of project duration)
Step 1: The investor submits the decision to terminate project operations along with the above dossier to the Investment Registration Authority within 15 days from the date of the termination decision.
Step 2: The Department of Planning and Investment (Investment Registration Authority) receives the investor’s notification and informs relevant agencies of the project termination.
Step 3: Enterprise dissolution and tax finalization with the tax authority.
Step 4: Dissolution and removal of enterprise name from the register.
*Note: Steps 3 and 4 are only required when project termination coincides with enterprise termination.
**Case 2: Termination by Decision of the Investment Registration Authority** (under points a, b, d, đ of Clause 2, Article 48 of the Investment Law 2020)
Step 1: The Investment Registration Authority prepares a record confirming the project falls under termination cases specified in points a, b, and đ of Clause 2, Article 48 of the Investment Law 2020.
Step 2: The investment registration authority issues a decision to terminate project operations and revokes the Investment Registration Certificate (if issued). The Investment Registration Certificate ceases to be effective from the effective date of the project termination decision.
Step 3: The business registration authority carries out procedures to revoke business registration contents in the Investment Registration Certificate or business registration certificate (applicable when the project operates under an Investment Registration Certificate that also serves as a Business Registration Certificate).
Step 4: The investment registration authority issues a land recovery decision.
Step 5: The investment registration authority decides to terminate project operations.
*Note: Step 4 and Step 5 are only required when termination falls under point d of Clause 2, Article 48 of the Investment Law 2020. In cases of partial termination under Clauses 1 and 2 of Article 48, the investor may continue operations for the non-terminated portion and must adjust the investment project under Articles 44, 45, 46, and 47 of Decree 31/2021/ND-CP.
**Case 3: Termination When the Investment Registration Authority Cannot Contact the Investor**
Step 1: Prepare a record confirming project cessation and inability to contact the investor.
Step 2: Send a written request to the investor to contact the Investment Registration Authority to handle project termination at the address registered with the authority.
Step 3: After 30 days with no response, the investment registration authority sends a support request to the commune-level People’s Committee where the investor resides (for domestic individual investors) or to the diplomatic mission of the investor’s nationality in Vietnam (for foreign investors); simultaneously posts a notice requiring the investor to contact the Investment Registration Authority within 90 days on the National Investment Portal.
Step 4: After 12 months of applying the above measures without contacting the investor, the investment registration authority issues a decision to terminate project operations.
**Case 4: Termination Pursuant to Court Judgment, Decision, or Commercial Arbitration Award** (including cases based on simulated civil transactions)
Step 1: The court or commercial arbitration issues a judgment/decision/award terminating the entire or part of the investment project.
Step 2: The investment registration authority follows the procedures in Case 2 or Case 3.
At BKC Law, we offer comprehensive consultation services to support enterprises and foreign investors in terminating investment projects in Vietnam. With an experienced team of lawyers deeply knowledgeable in legal regulations, we commit to accompanying you from the initial stages—identifying reasons for termination, preparing and submitting required dossiers, handling assets and financial obligations, to completing enterprise dissolution procedures (if applicable). We ensure strict compliance with legal requirements while optimizing the process to minimize risks and save time for clients. Let BKC Law be your reliable partner in efficiently and professionally completing investment project termination procedures.
With a team of senior lawyers with many years of experience, solid legal knowledge, and strong bilingual consultation capabilities, BKC LAW is confident in being one of the best legal partners on the market to support services related to termination procedures for foreign-invested companies in Vietnam.
To receive free legal consultation at BKC Law, please contact our lawyers using the following information:
Telephone: 0901 3333 41
Email: info@bkclaw.vn
Branch in District 1: 9th Floor, Diamond Plaza Building, 34 Le Duan Street, District 1, Ho Chi Minh City
Branch in Binh Tan: 41 Ten Lua Street, Binh Tan District, Ho Chi Minh City
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41 Rockets, Binh Tri Dong B, Binh Tan District, Ho Chi Minh City.
info@bkclaw.vn
0901 3333 41
9th Floor, Diamond Plaza Building, 34 Le Duan, Ben Nghe Street, District 1, Ho Chi Minh City.
info@bkclaw.vn
0901 3333 41