HCMC – The Ministry of Finance has proposed exempting overseas investment projects worth under VND20 billion from licensing requirements, while raising the threshold for projects requiring prime ministerial review to VND1.6 trillion, under a draft Government decree now open for public feedback.

The proposal is part of a plan to simplify administrative procedures and expand decentralization, according to the ministry. Under the draft decree guiding Article 42 of the Investment Law, overseas investment registration certificates would be required only for projects with capital of at least VND20 billion or those in conditional sectors. Smaller projects would no longer need a certificate and would instead be managed through foreign exchange registration at commercial banks. The ministry said the change would reduce compliance costs and processing time, particularly for small and medium-sized firms seeking to explore foreign markets, while maintaining oversight of large projects that could affect national financial security. The draft also proposes doubling the capital threshold for projects that must be submitted to the prime minister for consideration, from VND800 billion to VND1.6 trillion. Projects of exceptional size or those seeking special policy mechanisms would still require prime ministerial review. The adjustment is intended to reduce the number of projects escalated to the prime minister and increase the autonomy and accountability of ministries and agencies in managing overseas investment. The draft further expands cases eligible for exemption from licensing, including certain large companies with strong financial capacity, effective operations, and experience in overseas investment, subject to strict criteria. It also removes the requirement for investors to submit a written foreign currency arrangement commitment from a credit institution for projects not subject to prime ministerial approval. Investors would be responsible for their own foreign currency sources. Other proposed changes include fully online procedures for issuing and amending investment certificates and more flexible rules allowing profit remittances to Vietnam based on actual profit distribution, rather than waiting for tax finalization in host countries. The ministry said the revisions align with the Investment Law 2025, aiming to ease procedures while tightening risk controls for large-scale overseas investments.