According to Circular 03BKH-QLDA dated March 15, 1997 by the Ministry of
Planning and Investment (MPI) giving guidelines for implementation of
foreign investment projects in Vietnam, foreign-invested enterprises can
apply for amendment of and supplementation to investment licenses in the
-Changing partner(s)/Transferring capital,
-Changing the investment form,
-Changing or supplementing business objectives,
-Adjusting capital (increasing or reducing capital, changing capital
-Other adjustments (term of operation, tax rate, land rent, product
In these cases, foreign investors must submit applications to the
investment licensing authority. The application includes:
-Application for amendment of or supplementation to the investment
license signed by the general director or the first deputy general
-Decision of the board of directors of the joint venture enterprise,
agreement of parties to the business cooperation contract, or request of
the owner of the 100% foreign-owned enterprise.
-Report on implementation of the investment license from the date of
issuance to the date of application for amendment or supplementation.
In addition to these documents, foreign investors must submit a letter
of explanation in specific cases:
-Changing business objectives: Reason(s) for the change, and solutions
to achieve new objectives regarding market, capital, technology, etc.
-Increasing capital: Reason(s) for increasing capital, financial
conditions to support the increase, and the list of additional machinery
and equipment needed as a result of the increase. In case the increase
is made with profit used for reinvestment, a certification by the tax
authority is needed.
-Transferring capital and changing partner(s): The need for capital
transfer, evidences about the legal status and financial capacity of the
new partner (s), the notarized agreement for capital transfer, which
states clearly the condition, method and price of the transfer.
-Opening branches: The need and business objective of the branch, the
approval of the provincial people�s committee regarding the location
where the branch is to be established and the land rent thereof.
-Other cases: Reason(s) for amendment of and supplementation to the
All the documents submitted must be originals or notarized copies.