DIRECTIVE

Regarding the implementation of Resolution No. 09/2001/NQ-CP dated August 28, 2001 of the Government on enhancing attraction and improving the effectiveness of foreign direct investment during the period 2001-2005

In order to implement Resolution No. 09/2001/NQ-CP dated August 28, 2001 of the Government on enhancing attraction and improving the effectiveness of foreign direct investment during the period 2001-2005, the Prime Minister instructs the Ministries, ministerial-level agencies, agencies under the Government, and provincial people's committees (hereinafter referred to as Ministries and provincial people's committees) to carry out the following tasks:

1. The Ministry of Planning and Investment shall take the lead in drafting the following projects:

- Project on building and perfecting legal documents on foreign direct investment towards establishing a legal framework and main policies for domestic investment and foreign direct investment;

- National project list calling for foreign direct investment during the period 2001-2005.

In 2001, the Ministry of Planning and Investment shall submit to the Government and the Prime Minister:

- Project on expanding the scope of attracting foreign direct investment; piloting the conversion of foreign direct investment enterprises to operate under the joint stock company model; amending certain provisions to accelerate the formation and implementation of BOT projects;

- Decree amending and supplementing Decree No. 36/CP dated April 24, 1997 of the Government promulgating the Regulations on Industrial Zones, Export Processing Zones, and High-Tech Zones;

- Regulation on coordination in managing foreign direct investment activities, including the establishment of an inter-ministerial working group to systematically review all permits and regulations related to foreign direct investment, abolish unnecessary permits and regulations, and establish a one-stop management mechanism at both central and local levels.

2. The Ministry of Trade shall issue regulations on foreign direct investment in the import service sector and domestic distribution services in accordance with the spirit of Decree No. 24/2000/NĐ-CP dated July 31, 2000 of the Government detailing the implementation of the Law on Foreign Investment in Vietnam; submit to the Prime Minister the project on narrowing the list of goods not subject to purchase by foreign direct investment enterprises for export purposes.

3. The Ministry of Construction shall submit to the Government the project on amending and supplementing Decree No. 60/CP dated July 5, 1994 of the Government on ownership rights to housing and land use rights in urban areas and Decree No. 61/CP dated July 5, 1994 of the Government on buying and selling housing.

4. The Ministry of Education and Training, the Ministry of Science, Technology, and Environment, and the Ministry of Labor, Invalids, and Social Affairs shall guide the implementation of Decree No. 06/2000/NĐ-CP dated March 6, 2000 of the Government on cooperation with foreign investment in the fields of healthcare, education and training, and scientific research.

5. The State Price Control Agency shall submit to the Prime Minister the project on adjusting prices and fees to unify a common standard for domestic and foreign investment; announce types of prices and fees that can be unified and applied immediately in 2001.

6. Vietnam Electricity Corporation shall complete before June 2002 the repayment to foreign direct investment enterprises of legitimate and actual capital and funds they have invested in constructing power facilities outside the factory premises.

7. The State Bank of Vietnam:

- Draft the project on reforming monetary policy related to foreign direct investment activities;

- Issue within 2001 guidelines for implementing government decrees on ensuring loans, pledges, mortgages, and guarantees for foreign direct investment enterprises to truly facilitate their borrowing from credit organizations operating in Vietnam;

- Draft the project on the possibility and conditions for some foreign direct investment enterprises to mortgage land value at credit institutions operating abroad.

8. The Ministry of Finance:

- Draft the project on reforming the tax system related to foreign direct investment activities;

- Issue within 2001 policies to encourage the operation of foreign investment funds in Vietnam, and regulations on tax declaration and settlement based on audit results.

9. The Land Administration Bureau shall complete within 2001 the guidance on issuing land use right certificates to enterprises in industrial zones and export processing zones; draft the project on allowing private individuals to pilot leasing land to foreign direct investment enterprises; guide the handling of joint venture land contributions in cases of bankruptcy, dissolution, or change in investment form.

10. The Ministry of Justice shall issue within 2001 legal documents guiding the registration of secured transactions and the establishment of a national agency for registering secured transactions; lead the review of legal documents and regulations related to foreign direct investment issued by ministries and provincial people's committees to eliminate overlapping and conflicting provisions and to remove unsuitable regulations..

11. Ministries and provincial people's committees shall draft lists of projects calling for foreign direct investment for their respective sectors and localities, coordinate with the Ministry of Planning and Investment, and publish them in 2001 as a basis for investment promotion activities; simplify and publicly announce administrative procedures related to foreign direct investment.

12. Economic technical ministries shall draft, adjust, and publish industry plans and key products within the first six months of 2002, clearly outlining domestic capital, ODA capital, and foreign direct investment capital as a basis for determining investment policies.

13. Investment permit issuing authorities shall regularly review and classify foreign direct investment projects that have been granted investment permits to promptly resolve difficulties, support projects to start operations and achieve effective business results.

For projects that have not yet been implemented but are deemed to have the potential and conditions for implementation, the Ministry of Planning and Investment shall proactively exchange with the investors to promote their implementation within a specified period and resolve any obstacles, including adjustments to the project's objectives and scale of operations, in coordination with relevant ministries, sectors, and provincial People's Committees.

14. The Ministry of Planning and Investment, the Ministry of Industry, the Ministry of Agriculture and Rural Development, and the People's Committees of provinces and centrally governed cities shall closely cooperate with the Ministry of Foreign Affairs, the Ministry of Trade, and other related agencies to develop and implement annual investment promotion programs, effectively organize publicity on foreign direct investment, study foreign direct investment partners and foreign investment laws and policies of countries in the region, and deploy staff for investment promotion in key areas abroad.

The Ministry of Finance shall allocate funds for investment promotion activities from the annual regular budget of ministries, sectors, and localities.

15. In 2001, the Government Organizational and Cadre Management Board shall draft regulations for Vietnamese cadres participating in the boards of directors and management of joint ventures; the Ministry of Education and Training shall take the lead in drafting a plan to organize training for cadres involved in foreign direct investment work; the Ministry of Labor, Invalids, and Social Affairs shall take the lead in drafting a plan to train vocational skills for foreign direct investment enterprises.

16. The Ministry of Planning and Investment, in coordination with the Government Office, shall be responsible for monitoring and consolidating the implementation of the Government Resolution and this Directive to promptly report to the Prime Minister on plans related to the implementation of this Directive.

17. Ministers, heads of ministerial-level agencies, heads of government-affiliated agencies, and Chairpersons of provincial and centrally governed city People's Committees shall strictly and fully implement this Directive. In cases where issues arise beyond their authority, they shall report to the Prime Minister for consideration and guidance on how to proceed./.