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Wednesday, July 17, 2024

Hanoi City to inspect foreign businesses and investment projects

By Thai Huy

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HCMC – The Department of Planning and Investment of Hanoi City is set to inspect foreign investment projects and foreign-invested enterprises in the city this year.

As per the plan, a total of 64 projects and 17 foreign businesses will be subject to examination in the near future, as reported by the Vietnam News Agency.

The objective of the inspection is to enhance awareness and accountability among foreign investors and economic organizations, ensuring their compliance with laws and other relevant regulations during their operations in Vietnam.

The Department of Planning and Investment in Hanoi affirmed that the inspection process would not have any adverse impact on the business operations of companies and projects.

According to Hanoi authorities, the areas under scrutiny will include contributed capital, legal capital (if applicable), investment capital, project timeline, achievement of investment objectives, adherence to commitments and fulfillment of investment conditions, market approach, and investment incentives.

Inspectors will thoroughly examine investors’ fulfillment of financial obligations to the government, compliance with labor and foreign currency management regulations, reporting procedures, and the contents of investment registration certificates and enterprise registration certificates.

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