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Accordingly, Article 10, Circular No. 02/2022 prescribes 03 forms of irregular inspection of foreign investment in Vietnam, including:
- Regular inspection: Shall be carried out under annual inspection plans approved by competent agencies specified in Article 4, Circular No. 02/2022/TT-BKHDT.
- Irregular inspection:
+ Shall be carried out on a case-by-case basis to meet management requirements and suit practical situations, or
+ Based on requests or reports of agencies, organizations, and individuals on problems arising in the course of organization of investment activities; or
+ The implementation of foreign investment laws and policies or upon detection of signs of violation in investment by foreign-invested organizations or projects.
- Specialized inspection: Shall be carried out in accordance with specialized laws and upon request of specialized management agencies in order to evaluate the observance of regulations concerning fields of management under their competence.
Therefore, compared with the current regulations prescribed in Article 13, Circular 09/2016, the new Circular supplements the irregular inspection of foreign investment in Vietnam upon detection of signs of violation in investment by foreign-invested organizations or projects.
Besides, the Circular 02/2022 also prescribes the foreign investment activities in Vietnam as follows:
- Depending on the contents and practical situation, competent agencies shall carry out inspection by the following methods:
+ Via the national investment information system;
+ On the basis of reports;
+ Formation of inspection teams or working teams.
- Based on specific tasks, an inspection may be carried out by one or a combination of the above methods in order to achieve the highest effectiveness.
The Circular takes effect on April 01, 2022.
