Terminate the operation of the investment project

Conditions for terminating the operation of the investment project

Article 48.1 of the Law on Investment 2020 stipulates that an investor shall terminate an investment project or the investment activity in the following cases:

• The investor decides to terminate the operation of the investment project.

• Terminate according to the termination conditions regulated in the contract, the charter of the enterprise.

• The investment project has expired.

The investment registration authority terminates in full or in part of the operation of an investment project in the following cases:

• The investment project falls into one of the cases regulated in Clauses 2 and 3, Article 47 of the Law on Investment 2020 and the investor is unable to overcome the conditions for suspension of operation;

• The investor is no longer permitted to keep using the investment location and fails to complete the procedures for change of investment location within 06 months from the date on which the investor is no longer permitted to use the investment location, except for the case specified in Point d of this Clause;

• The investment registration authority cannot contact the investor or the investor’s legal representative after 12 months from the date of suspension of the project;

• Land reserved for the investment project is expropriated by the State for the reason that the land is not used or the land use is delayed in accordance with the law on land;

• The investor fails to pay the deposit or obtain a bank guarantee as prescribed by law if project execution security is required;

• The investor conducted the investment activities on the basis of a sham civil transaction in accordance with the civil law;

• Pursuant to a judgment or decision of a court or an arbitral award.

For investment projects subject to approval of investment policies, the investment registration agency shall terminate the operation of the investment project after obtaining opinions from the investment policy-approving agency.

Investors liquidate the investment project by themselves according to the provisions of the law on liquidation of property when the investment project terminates, except for the case regulated in Clause 5, Article 48 of the Law on Investment 2020.

The processing of land use rights and land-attached property when the investment project terminates, shall be implemented following the provisions of the land law and other relevant laws.

The investment registration authority shall decide to revoke the Investment Registration Certificate in case the investment project terminates its operation as prescribed in Clause 2, Article 48 of the Law on Investment 2020, except for the case of termination in part the operation of the investment project.