Provinces to report on foreign investment

HCM CITY — As from September 10 provinces and cities nationwide will have to make regular reports on foreign direct investment (FDI) in their jurisdiction, according to an official of the Ministry of Planning and Investment (MPI).

The FDI reports, which would provide the government with more accurate information on FDI activities nationwide, would be submitted to MPI, said Do Nhat Hoang, director of the Foreign Investment Department.

Hoang said that enterprises would also be required to make separate reports on the implementation of some special FDI projects to submit to provincial and municipal people's committees.

Projects that need to be reported would include those with FDI of more than US$1 billion; on five ha or more of urban land or 50 ha or more of other kinds of land; those involved in exploitation and processing of natural minerals; and those required to regularly report on environmental impacts, he said.

Agencies responsible for granting investment certificates would have to make evaluation reports on the implementation of their state management functions by authorised bodies at localities that had reportable FDI projects. — VNS

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