The special investment procedure in Vietnam is an optional licensing route for projects located in an industrial park, export processing zone, high-tech park, concentrated digital technology zone, free trade zone, international financial centre, or a functional area of an economic zone. In exchange for a written compliance commitment, the project skips investment policy approval, technology appraisal, the environmental impact assessment (EIA) report, the detailed zoning plan, the construction permit, and the approval steps for construction and fire safety (Article 28 of the Law on Investment 143/2025/QH15). The zone management board issues the Investment Registration Certificate (IRC) within 15 working days (Article 47(5)(b) of Decree 96/2026/ND-CP).
Many guides to the special investment procedure in Vietnam still describe the 2025 version: Article 36a of the old Law on Investment and Decree 19/2025/ND-CP, which limited the route to semiconductors, high-tech, R&D and innovation centres. Since 1 March 2026 there is no sector test. What matters now is the location and whether the project is on the exclusion list. Decree 19/2025 and the dedicated forms in Circular 06/2025/TT-BKHDT are no longer in force.
What is the special investment procedure in Vietnam, and why is it called a "green lane"?#
The procedure moves control from before licensing to after it. On the ordinary route, a factory in an industrial park can queue for several approvals before breaking ground: investment policy approval if required, technology appraisal, EIA approval, design appraisal, construction permit, fire safety design approval. On the special route the investor commits that it will meet the applicable conditions, standards and technical regulations; the management board issues the IRC on that basis; and the authorities inspect during implementation (Article 28(2) and (3) of the Law on Investment; Article 50 of Decree 96).
"Green lane investment procedure" is press shorthand for Article 28 of the Law on Investment. The legislation never uses it, and "green lane" also refers to customs channel classification, so filings and correspondence with the board should cite Article 28 by name.
| Period | Legal basis | Sector scope | IRC deadline |
|---|---|---|---|
| 15 Jan 2025 to 30 Jun 2025 | Article 36a of the Law on Investment 2020 (added by Article 2(8) of Law 57/2024/QH15); Decree 19/2025/ND-CP; Circular 06/2025/TT-BKHDT | Innovation and R&D centres; semiconductors, ICs, chips; priority high-tech | "15 days" |
| 1 Jul 2025 to 28 Feb 2026 | Article 36a as amended by Article 6(13) of Law 90/2025/QH15 | Added large data centre, cloud, 5G and strategic technology projects | "15 days" |
| From 1 Mar 2026 | Article 28 of Law 143/2025; Articles 46 to 50 of Decree 96/2026; Circular 55/2026/TT-BTC | No sector limit; international financial centres added; exclusions set by the Government | 15 working days |
Which projects qualify for the special investment procedure in Vietnam?#
Location. Clause 1 of Article 28 of the Law on Investment lists seven types of location: industrial parks, export processing zones, high-tech parks, concentrated digital technology zones, free trade zones, international financial centres and functional areas of economic zones. A project outside them, including one in an industrial cluster, cannot use the route. The board checks the project against the zone's subdivision plan, or for an economic zone functional area against the general plan of the zone (Article 47(4) of Decree 96). A high-tech park project must still meet the criteria for high-tech activities (Article 46(2)). Projects in an international financial centre follow that centre's own rules (Article 46(3)).
Optional, not mandatory. The law says the investor "has the right to choose" (Article 28(1); Article 46(1) of Decree 96). If it does not, the ordinary route applies. Domestic investors can also choose it; the output is an IRC even though a domestic project normally needs none (Article 26(2)), and that IRC becomes the basis for land lease, administrative procedures and inspection (Article 28(4)).
Exclusions. Article 28(1) excludes projects that need investment policy approval "as provided by the Government". Article 46(1) of Decree 96 sets the list:
| Excluded | Projects (Article 24 of the Law on Investment) |
|---|---|
| In any zone | Item 14: developing and operating the infrastructure of an industrial park, export processing zone or concentrated digital technology zone |
| Only when located in an economic zone or free trade zone | Items 5 (heritage protection areas), 6 (nuclear power), 11 (housing and urban areas), 12 (restricted or historic inner-city areas of special-class cities), 13 (golf courses), 15 (ports in special or class I seaports), 16 (airports), 17 (passenger air transport), 18 (oil and gas processing), 20 (projects needing special mechanisms that depart from law) |
So the park developer cannot use the route, while a manufacturer leasing land inside the park can. Item 8 (State land allocation or lease without auction or tender) is not on the list, and Decree 96 even sets a first-valid-file rule where several investors seek a State land lease on the same site (Article 47(5)(d)). On our reading, a project in an economic zone functional area that leases land from the State can still choose the route. Items 1 to 4, 7, 9, 10 and 19 are also absent from the list; for such projects we would ask the board in writing first.
A draft to extend it beyond the zones is not law. On 19 August 2026 the Government news portal reported a Ministry of Finance draft amending the Law on Investment that would open the route to certain projects outside the zones (electronics and chips, AI and cloud, biotechnology, modern logistics, innovation centres, data centres and others). Law 24/2026/QH16, published on 22 September 2026, amends only Article 6 and Appendix IV, not Article 28. As at 19 October 2026, projects outside the zones still cannot use the procedure.
What the special investment procedure in Vietnam waives, and what it does not#
The route is not a permit exemption. It removes certain approvals in advance and replaces them with commitments, independent verification and inspection.
| Not required (Article 28(2) of the Law on Investment) | Still required |
|---|---|
| Investment policy approval | An IRC from the management board (Article 47(5) of Decree 96) |
| Technology appraisal | Disclosure of any technology restricted from transfer (Article 28(2)); a technology explanation under Appendix III of Form I.1.1 if the project would otherwise be subject to appraisal or consultation |
| EIA report | Identification and forecast of environmental impacts with mitigation measures in the project proposal; an environmental licence before construction if the project needs one; environmental registration where applicable (Article 49(2) and (3) of Decree 96) |
| Detailed zoning plan | Consistency with the subdivision or general plan (Article 47(4)) |
| Construction permit and construction approvals | The investor prepares, appraises and approves its own economic-technical report; a qualified firm verifies it; construction start notice at least 30 days in advance (Article 28(3); Article 49(4) of Decree 96) |
| Fire safety approvals | Compliance with fire safety standards listed in Appendix IV of Form I.1.1; the verification report covers fire safety (Article 28(3)(b)) |
Three points are often missed. First, the environmental licence survives: a project that would have needed an EIA skips the EIA report but, if it needs an environmental licence, must obtain it before construction from the authority that would have appraised the EIA (Article 49(2)(a) of Decree 96). Second, the economic-technical report must exist and must be independently verified for structural safety, environment, fire safety and compliance with standards; a phased project may prepare it per phase (Article 49(4)(b)). Third, sector licences, work permits and export processing enterprise customs steps are untouched.
The text does not say whether the fire safety acceptance inspection and the completion acceptance check before operation fall within the waived "procedures to be approved, accepted or permitted". We advise clients to prepare as if they will be inspected, because the board and the sector authorities can check compliance with every commitment (Article 50(2)(d) and (3) of Decree 96).
Applying for the special investment procedure in Vietnam: the file under Circular 55/2026#
Circular 55/2026/TT-BTC (signed 15 May 2026, in force on signing) has no separate form set for this route. The investor uses the ordinary IRC forms and completes the sections marked for projects under Article 47 of Decree 96. The file comprises items (a), (b), (c), (d), (dd), (g) and (h) of Article 32(1) of Decree 96 (Article 47(1)):
- Request to implement the investment project, Form I.1.1, including section IV (the investor's own assessment), commitment V.5, and Appendices I (construction), II (environment), III (technology) and IV (fire safety).
- Legal status documents of the investor.
- Proof of financial capacity: two years of financial statements, a parent company or financial institution support letter, a financial capacity guarantee or equivalent.
- Project proposal, Form I.1.3. Item 7 must forecast environmental impacts during construction and operation, waste types and volumes, treatment measures and incident response; this replaces the preliminary environmental assessment.
- Right to use the site where no State land is requested, usually the land or factory sublease agreement with the park developer.
- BCC contract if applicable, and any other documents required by sector law.
Appendix II of Form I.1.1 asks for expected volumes of air emissions, wastewater and solid waste, treatment efficiency, the treatment works and their construction schedule, and a monitoring programme at least every six months with mapped sampling points. It is the longest part of the commitment file.
Commitment checklist#
Article 47(2) of Decree 96 requires three layers: a list of the applicable conditions, standards and technical regulations; a preliminary self-assessment; and an undertaking to comply, to avoid prohibited acts and to bear full responsibility.
| Area | What to state | Where |
|---|---|---|
| Construction | National technical regulations on planning, fire safety of buildings and infrastructure; standards adopted for the works; zone planning indicators; undertaking to file the start notice with the verified report | Appendix I, Form I.1.1 |
| Environment | Waste types and volumes; other impacts; treatment measures and works; monitoring programme | Appendix II, Form I.1.1; item 7, Form I.1.3 |
| Technology | Explanation where appraisal would apply; restricted technology | Appendix III, Form I.1.1; item 10, Form I.1.3 |
| Fire safety | Applicable provisions; separation distances, fire access roads, escape routes, fire resistance, compartmentation, smoke control, power for fire systems, firefighting systems | Appendix IV, Form I.1.1 |
| General | Full responsibility for commitments and schedule; acceptance that the project may be suspended or terminated in whole or part | Sections V.5 and V.6, Form I.1.1 |
The commitment is an integral part of the IRC and is sent to the local construction, science and technology, environment and fire authorities (Article 47(5)(c) and (6) of Decree 96; IRC template Form I.2.6 of Circular 55/2026). Inspectors will check against exactly what was written, so boilerplate does not help.
Steps, timing and the deposit#
- File one set with the management board (Article 47(5)(a) of Decree 96).
- The board assesses planning fit, the investor's legal status and experience, land needs and land lease conditions if requested, schedule, commitments and incentives, and issues the IRC within 15 working days of receipt (Article 47(3) and (5)(b)).
- The IRC with the commitment goes to the local sector authorities (Article 47(5)(c)).
- Deposit (or bank guarantee), only if the State leases the land: after the IRC and before compensation or the land lease decision, or within 30 days of the IRC where the land was already cleared (Article 27(5)(b)). A tenant subleasing from a park developer is not leasing from the State and so is outside the deposit rule (Article 30(1) of the Law on Investment).
- Construction start notice at least 30 days before works begin, to the local construction order authority and the board, with the economic-technical report and the verification report (Article 49(4)(a) of Decree 96).
- Deposit refund: 50% when the start notice and documents are filed; the balance with interest when the completion acceptance record is filed (Article 27(10)).
A foreign investor may incorporate first and obtain the IRC afterwards (Article 19(2) of the Law on Investment; Article 72 of Decree 96); the enterprise registration file then omits the IRC copy (Article 24(5) of Decree 168/2025/ND-CP), and the company must obtain the IRC within 12 months and may not implement the project before it (Article 72(4)). The full sequence is in our guide to setting up a foreign-owned company in Vietnam.
Special investment procedure in Vietnam versus the ordinary route#
At the IRC stage alone, the special route is not faster. An IRC for a project that needs no policy approval is due within 10 working days of a complete file (Article 39(3) of Decree 96); the special route allows 15. The gain comes after the IRC.
| Ordinary route (project inside a zone) | Special investment procedure | |
|---|---|---|
| Investment policy approval | If listed in Article 24; inside a planned zone, the board approves projects otherwise within the provincial chairperson's remit (Article 25(4)) | Not required, unless excluded under Article 46(1) of Decree 96 |
| IRC | 10 working days (Article 39(3)); 5 working days after policy approval (Article 38) | 15 working days (Article 47(5)(b)) |
| Technology | Appraisal or consultation if applicable | No appraisal; explanation if applicable |
| EIA | If applicable | No EIA report; environmental licence still needed if applicable |
| Construction permit, design appraisal | Yes, unless construction law exempts the works | No; self-approved report plus independent verification |
| Fire safety design approval | If applicable | No; commitment plus independent verification |
| Before breaking ground | All permits above | 30-day start notice with reports |
| 50% deposit refund (State land) | On the land lease decision and a construction permit or other construction approval, if required (Article 27(9)(a)) | On filing the start notice (Article 27(10)) |
| Main risk | Delay waiting for approvals | Inaccurate or unmet commitments found on inspection |
When Decree 19/2025 was issued, the Government news portal (11 February 2025) said the route was "expected" to shorten project implementation by about 260 days. That was a policy estimate, not a measured result, and as at 19 October 2026 we have not found official statistics on how many IRCs have been issued under it.
On our reading, in industrial park project licensing the route pays off most for a build-to-suit factory on subleased park land that would otherwise need a construction permit, fire safety design approval or an EIA, and for projects that need policy approval but are not excluded. It adds little for a tenant of a ready-built factory with light fit-out and no EIA, which gets an IRC in 10 working days on the ordinary route with a lighter file. It suits investors with engineering advisers able to stand behind the technical report and the fire safety design, since the technical requirements do not change; only the advance approval disappears.
Inspection and consequences of breaching the commitments#
Under the special investment procedure in Vietnam, the investor monitors and evaluates its own project; the board inspects, notifies issues in writing before and during construction, and checks compliance with construction, environment, technology and fire safety commitments, alongside the investment and sector authorities (Article 50 of Decree 96). If the project does not meet what was committed, the authorities may impose administrative penalties, suspend or terminate the project, or take other measures (Article 49(1)). Under the Law on Investment, the project may be suspended to remedy environmental breaches at the environmental authority's request (Article 35(2)(b)) or where the investor keeps breaching its IRC after a penalty or written warning (Article 35(2)(dd)), and terminated if it cannot remedy the cause of suspension (Article 36(2)(a)). Fines for technical breaches sit in the construction, environment and fire safety penalty decrees. The investment penalty decree, Decree 122/2021/ND-CP, predates the procedure, and Decree 288/2026/ND-CP amended only its enterprise and cooperative registration provisions, so no offence is framed specifically around special-route commitments. On our reading, the authorities could rely on the general offence of failing to follow the IRC, since the commitment forms part of it. See also terminating an investment project and the ordinary investment reporting obligations, which still apply.
Existing projects, amendments and expansions#
- Amending a special-route project: same board procedure and 15 working days, with an updated commitment on construction, environment and fire safety on Form I.1.8 (Article 48 of Decree 96). See IRC amendment procedure.
- Projects licensed or approved before 1 March 2026: may switch if they meet Article 46, by filing the commitment with a progress report; the board issues or replaces the IRC. A phased project may switch phase by phase, and switching only one part or phase is handled as an amendment under Article 48 (Article 100(2) and (3)). This is the practical path for an expansion phase.
- Files lodged before 1 March 2026 and still pending: continue under the old law and Decree 31/2021, or switch by adding the commitment (Article 100(1)).
- Permits already granted (EIA, detailed plan, construction permit, fire safety) remain valid (Article 100(4)).
The text does not cover a project licensed on the ordinary route after 1 March 2026 that later wants to switch. On our reading, an expansion that can stand as an independent project can be registered as a new project on the special route; we would confirm with the board first.
Not to be confused with special investment incentives#
Special investment incentives (Article 17 of the Law on Investment; Article 21 of Decree 96) are tax and support benefits for very large projects, starting from VND 3,000 billion, with the level and duration decided by the Prime Minister. The special procedure is a licensing route that depends on location. A project can have one without the other. Thresholds are in our guide to investment incentives in Vietnam; ordinary incentives can still be recorded on a special-route IRC (Article 47(3)(g)).
Common mistakes#
- Treating the green lane investment procedure as a full permit exemption. Environmental licence or registration, sector licences, land procedures and, for State land, the deposit remain.
- Writing a generic "we will comply with the law" commitment. The forms require specific standards, indicators and provisions.
- Forgetting that fire safety and environmental standards still apply in full. Only the advance approval is removed.
- Applying it to a site outside the listed zones, including industrial clusters.
- Relying on the 2025 sector test. It no longer applies, although high-tech parks still require high-tech project criteria (Article 46(2) of Decree 96).
- Starting works the day the IRC arrives, without the 30-day start notice and, if needed, the environmental licence.
- Counting 15 calendar days. Decree 96 counts 15 working days, roughly three weeks.
Before choosing the special investment procedure in Vietnam#
Check three things: that the site is in a listed zone with a valid subdivision plan, that the project is not excluded under Article 46(1) of Decree 96, and whether it needs an environmental licence. Background on the certificate itself is in the handbook entry on the investment registration certificate, and on policy approval in investment policy approval in Vietnam. An export processing enterprise also needs its status recorded on the IRC; see export processing enterprise in Vietnam.
LexData handles industrial park project licensing for foreign investors: we assess whether the special investment procedure in Vietnam fits, prepare the commitment file and deal with the management board as part of our company formation work, and move existing projects onto the route through our IRC amendment service.
