Ministry sets up database to monitor FDI project progress
Ministry sets up database to monitor FDI project progress
The Ministry of Planning and Investment (MPI) will launch a national system for foreign investment on March 1.
The new system will allow foreign direct investment (FDI) enterprises to give information about their projects online, before they submit documents to apply for an investment certificate. They will also be asked to use the system to send online reports to the government management agencies.
FDI management agencies in cities and provinces are required to update data on registrations, grant, adjustment and withdrawal of investment certificates or of permits and legal documents.
The system will provide a database of all FDI projects being carried out in the country. People can search for information on an online portal of the MPI's Foreign Investment Agency (FIA).
The ministry said that it will be mandatory for government management agencies and FDI enterprises in the country to use the system. It also petitioned People's Committees in cities and provinces that they should ask FDI project management agencies to guide their officers and FDI companies in using the national system.
The system has been built and managed by the planning and investment ministry, following the Prime Minister's directive on Decision No 48 that was issued on March 31, 2009. Its objectives are to standardise and computerise a national database on FDI enterprises and their projects, as well as Viet Nam's investment projects abroad, and update information on FDI-related activities in the country.
