Vietnamese
On May 09, 2022, the Prime Minister issues the Decision No. 12/2022/QD-TTg on procedure and authorization for the issuance of objection and no-objection letters for private sector operations of international financial institutions in Vietnam
Accordingly, objection and no-objection letters consist of objections or no objections of Vietnam for the proposals of no-objection to proposals for expression of no objection opinion.
Proposals for no-objection opinions are the proposals of international finance organizations which are submitted to the relevant ministries and agencies of Vietnam for showing no-objection opinions of international financial institutions in private sector operations in Vietnam.
In particulars, governing bodies shall receive, consolidate and evaluate the proposals for expressing no objection of international financial institutions.
In case that the dossiers satisfy all the requirements according to the List of information, the governing bodies shall take opinions of the Ministry of Investment and Planning, the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Public Security, the Ministry of National Defense, the State Bank of Vietnam, and relevant ministries and agencies to the categories which are mentioned in the proposals for no objection opinion in written form within 07 working days from the receiving date.
Relevant ministries and agencies shall show their opinions in writing form for the proposals for no-objection opinions at the requests of the governing bodies within 10 working days...
No-objection letters are not permits, approval for investment policies on investment, or Vietnam’s guarantee for private sector operations of international finance institutions.
This Circular takes effect on the signing date. Relevant ministries and agencies shall cooperate with governing bodies on giving opinions on giving their opinions on proposals for no-objection opinions.
