On 26/03/2021, the Government issued Decree 29/2021/ND-CP regulating the procedures for appraisal of projects of national significance and investment supervision and evaluation.
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Specifically, Decree 29/2021/ND-CP regulates supervision and assessment of investment projects. However, within the scope of this article, we will focus on regulations on investment monitoring and evaluation reports for investment projects that do not use state capital (investment projects using other capital sources), As follows:
(1) Regarding investment monitoring and evaluation responsibilities
Project investors using other capital sources are responsible for preparing project monitoring and evaluation reports according to regulations.
(2) About the agency receiving the report
Investors in projects using other capital sources prepare and send it to the investment registration agency and the focal agency to carry out investment supervision and evaluation of the locality where the investment project is implemented.
(3) Types of investment monitoring and evaluation reports
- Periodic monitoring and evaluation reports: every 6 months and the annual report;
- Monitoring and evaluation reports before adjusting the project;
- Final assessment report (if any).
(4) Time limit for investment monitoring and evaluation reports
- Submit reports 6 months before July 10 of the reporting year;
- Submit annual reports before February 10 of the following year;
- Submit reports before submitting project program adjustments.
Thus, during project implementation, investors of investment projects using other capital sources need to prepare periodic investment monitoring and evaluation reports every 6 months, the annual report and before adjusting the next project. The Department of Planning and Investment or the Management Board of industrial parks, export processing zones, high-tech zones, economic zones and focal agencies carry out investment supervision and assessment where investment projects are implemented.
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(5) Handling violations in investment monitoring and evaluation reports
Investors who do not properly carry out their reporting responsibilities in investment monitoring and evaluation will be subject to administrative sanctions in accordance with the law on sanctions for administrative violations in the field of Planning and investment.
Accordingly, the current fine is specified in Decree 122/2021/ND-CP, specifically:
- Fine from 20,000,000 VND to 30,000,000 VND for one of the following acts:
(i) Prepare investment monitoring and evaluation reports not on time or with incomplete content as prescribed;
(ii) Failure to update the Investment Supervision and Evaluation Report on the National Information Portal on Investment Supervision and Evaluation.
- Fine from 30,000,000 VND to 50,000,000 VND for one of the following acts:
(i) Failure to implement periodic investment monitoring and evaluation reports as prescribed;
(ii) Making dishonest and inaccurate investment monitoring and evaluation reports.
- Remedial measures:
(i) Forced addition of missing content in case the investment monitoring and evaluation report is incomplete;
(ii) Forced update of Investment Supervision and Evaluation Report on the National Information Portal on Investment Supervision and Evaluation;
(iii) Forced implementation of periodic investment monitoring and evaluation reporting regime in case of failure to comply with the prescribed reporting regime.
Thus, in case of non-compliance with regulations on investment monitoring and evaluation reports, investors may be subject to administrative sanctions with a maximum fine of up to 50,000,000 VND.
Decree 29/2021/ND-CP takes effect from March 26, 2021.
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