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INVESTMENT CONSULTATION OF THERMAL POWER PROJECTS
Thermal power projects are playing a very important role in providing electricity for production and business activities nationwide. In Vietnam, the strongest development is coal-fired power, which accounts for just more than 30% of capacity but accounts for 50% of electricity supply for the whole country. In addition to coal-fired power, the development of liquefied natural gas thermal power plants applied to electricity production is a direction to be considered, due to its efficiency and environmental friendliness.
Conditions for investment in thermal power projects in Vietnam.
- Investment and development of thermal power projects must be consistent with the electricity development planning. Investment projects not included in the electricity development planning may only be implemented when the power development planning agency submits them to the competent authorities for planning approval for permission.
- Thermal power project investors are responsible for strictly complying with the provisions of the law on investment, construction and environmental protection.
- The generating unit is responsible for investing in the construction of switching stations and substations within its management, in sync with power generation technology equipment to connect to the power system, unless otherwise agreed.
- Newly built power transmission and distribution lines and substations must be designed and used with technical equipment and technologies in accordance with industry codes and standards, Vietnamese standards or standards foreign equivalent or higher permitted by competent state agencies to apply in Vietnam.
Procedures for investment in thermal power projects.
Submit application for decision on investment policy of thermal power project
Dossier of application for decision on approval of investment policy for thermal power project
a) A written request for implementation of the thermal power project investment project, including a commitment to bear all costs and risks if the project is not approved;
b) Documents on the legal status of the thermal power project investor;
c) Documents proving the financial capacity of the thermal power project investor, including at least one of the following documents: financial statements of the last 2 years of the investor; commitment to financial support of the parent company; financial institution’s commitment to financial support; guarantee on the financial capacity of the investor; other documents proving the investor’s financial capacity;
d) Investment project proposal for a thermal power project, including the following main contents: investor, investment objective, investment scale, investment capital and capital mobilization plan, location, duration, implementation progress, information on the current status of land use at the project site and proposed land use demand (if any), labor demand, proposal for investment incentives, impacts, socio-economic efficiency of the project, preliminary assessment of environmental impacts (if any) in accordance with the law on environmental protection.
If the construction law provides for the preparation of a pre-feasibility study report, the investor may submit a pre-feasibility study report instead of the investment project proposal;
d) If the investment project does not request the State to allocate or lease land or permit the change of land use purpose, a copy of the paper on land use rights or another document determining the right to use the site shall be submitted. to carry out investment projects;
e) The explanation of technology used in the thermal power investment project, for the project subject to appraisal and consultation on technology in accordance with the law on technology transfer;
g) Other documents related to the thermal power investment project, requirements on conditions and capacity of the investor as prescribed by law (if any).
Time limit for processing applications for approval of investment policies for thermal power projects
Up to 65 days for projects that need approval from the Prime Minister;
Up to 40 days for projects that need approval from the Provincial People’s Committee.
Issuance of Certificate of investment registration of thermal power projects at the Investment Registration Authority (Article 35 of Decree 31/2021-ND-CP)
After receiving the policy approval decision of the Prime Minister or the People’s Committee of the province, the Investment Registration Authority shall grant the Investment Registration Certificate for thermal power projects to the Investor within 05 working days.
2.3. Apply for a Certificate of Business Registration for the company implementing the thermal power project at the business registration office
After being granted the Investment Registration Certificate, the investor needs to follow this next step to complete the process of setting up a foreign-invested company in Vietnam operating in the field of thermal power.
- The investor submits a set of documents to the competent authority (Business registration office under the Department of Planning and Investment of the provinces/cities). Profile include:
– Application for business registration (according to the form);
– Company rules;
– List of founding shareholders and shareholders being foreign investors (if it is a joint stock company); List of members (if it is a two-member limited liability company);
– Documents on legal status of the representative (If being an individual: Copy of passport/citizen identity card/identity card; for organizations: establishment decision/business registration certificate/ equivalent documents and passport/national identity card/citizen identification with written authorization for the capital manager in Vietnam;
– A certified copy of the issued Investment Registration Certificate;
- Within 03 – 07 working days from the day on which the complete application is received, the business registration authority shall grant the business registration certificate to the enterprise. The case of refusal must be in writing and clearly state the reason.
Siglaw’s special incentives for customers related to thermal power project investment consulting
- Free consultation on contracts, regulations on enterprise law, investment law of Vietnam.
- Free consultation on issues related to recruitment, use of foreign workers, residence of foreigners in accordance with Vietnamese law.
- Incentives for regular consultation and answers to tax-related issues: Personal income tax, corporate income tax, etc. at the time of consulting on offshore investment projects.
- … And many other added values that exceed customers’ expectations!
Above is the advice of Siglaw Firm on thermal power projects. If you have any questions, please contact:
Phone: (+84) 961 366 238
Email:
Headquarters: Floor 12A Sao Mai Building, 19 Le Van Luong Street, Nhan Chinh Ward, Thanh Xuan District, Hanoi City.
Southern branch: No. 99 Cong Hoa, Ward 04, Tan Binh District, Ho Chi Minh City.
Central branch: 177 Trung Nu Vuong, Hai Chau District, Da Nang City
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