{"id":14443,"date":"2026-03-27T10:54:35","date_gmt":"2026-03-27T03:54:35","guid":{"rendered":"https:\/\/cdlaf.vn\/?p=14443"},"modified":"2026-03-27T11:03:34","modified_gmt":"2026-03-27T04:03:34","slug":"removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project","status":"publish","type":"post","link":"https:\/\/cdlaf.vn\/en\/removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project\/","title":{"rendered":"Removing Bottlenecks For Long-Term Projects: The Right To Freely Adjust The Operating Term Of An Investment Project"},"content":{"rendered":"<h1><em>Author:<\/em><\/h1>\n<ul>\n<li><em>Tran Phuong Nam &#8211; Lawyer<\/em><\/li>\n<li><em>Le Hong Dang &#8211; Paralegal<\/em><\/li>\n<\/ul>\n<p><em>During the implementation of long-term investment projects, especially large-scale <\/em><em>projects, or multi-phase projects<\/em><em>, investors often encounter difficulties when the operating term stated in the Investment Registration Certificate (IRC) or equivalent documents no longer aligns with the actual implementation schedule. Adjusting the operating term of an investment project therefore becomes a common need; however, in practice, such adjustment are not always consistently understood or applied by regulatory authorities.<\/em><\/p>\n<p><em>With the Law on Investment No. 143\/2025\/QH15 (\u201c<strong>Law on Investment 2025<\/strong>\u201d) officially taking effect on 01 March 2026, the new regulations tend to enhance flexibility and investor autonomy. Accordingly, the question of whether investors are entitled to freely adjust the operating term of an investment project, and to what extent such adjustment is permitted, has attracted considerable attention. Clarifying the legal basis for this right not only helps remove obstacles for ongoing projects but also contributes to ensuring the stability and feasibility of the investment environment.<\/em><\/p>\n<figure id=\"attachment_14423\" aria-describedby=\"caption-attachment-14423\" style=\"width: 533px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-14423\" src=\"http:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-533x400.jpg\" alt=\"\" width=\"533\" height=\"400\" srcset=\"https:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-533x400.jpg 533w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-1065x800.jpg 1065w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-768x577.jpg 768w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-1536x1153.jpg 1536w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2026\/03\/pexels-mike-468229-1178684-2048x1538.jpg 2048w\" sizes=\"auto, (max-width: 533px) 100vw, 533px\" \/><figcaption id=\"caption-attachment-14423\" class=\"wp-caption-text\">Source: pexels-mike-468229-1178684<\/figcaption><\/figure>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of contents:<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #a32411;color:#a32411\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #a32411;color:#a32411\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/cdlaf.vn\/en\/removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project\/#1_Bottleneck_under_previous_regulations_rigidity_in_project_term_extension\" >1. Bottleneck under previous regulations: rigidity in project term extension<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/cdlaf.vn\/en\/removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project\/#2_Changes_under_the_Law_on_Investment_2025_granting_greater_autonomy_to_investors\" >2. Changes under the Law on Investment 2025: granting greater autonomy to investors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/cdlaf.vn\/en\/removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project\/#3_Draft_guiding_decree_mechanism_for_restoring_lost_time\" >3. Draft guiding decree: mechanism for restoring lost time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/cdlaf.vn\/en\/removing-bottlenecks-for-long-term-projects-the-right-to-freely-adjust-the-operating-term-of-an-investment-project\/#SEND_CONSULTATION_REQUEST\" >SEND CONSULTATION REQUEST<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Bottleneck_under_previous_regulations_rigidity_in_project_term_extension\"><\/span>1. Bottleneck under previous regulations: rigidity in project term extension<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Under Article 44 of the 2020 Law on Investment, the operating term of a project had to be fixed at the stage of issuance of the Investment Policy Approval Decision or the Investment Registration Certificate. If an extension was required, the investor was only allowed to carry out procedures for extension when the project term was about to expire.<\/p>\n<p>This rigidity created significant obstacles in practice, particularly in corporate advisory work. During project implementation, investors often face the need to restructure, transfer the project, or change the investment scale. The inability to proactively request an increase of the project term in the middle of the implementation period results in the remaining time being insufficiently attractive to potential transferees, thereby undermining financial arrangements and significantly reducing transaction valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Changes_under_the_Law_on_Investment_2025_granting_greater_autonomy_to_investors\"><\/span>2. Changes under the Law on Investment 2025: granting greater autonomy to investors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Clause 4 Article 31 of the Law on Investment 2025 directly addresses the above bottleneck with a more open-ended provision: \u201c<em>During the implementation of an investment project, the investor may adjust the operating term of the investment project by increasing or decreasing such term.<\/em>\u201d<\/p>\n<p>Of course, the total operating term after adjustment must still comply with the statutory cap (generally not exceeding 50 years for projects outside economic zones, and up to 70 years for projects located in economic zones, areas with difficult socio-economic conditions, high-tech zones, or projects eligible for special incentives). This change brings dual benefits to enterprises:<\/p>\n<ul>\n<li><strong>Flexibility in financial planning<\/strong>: Investors may proactively restructure the project lifecycle to reallocate depreciation costs and optimize cash flow.<\/li>\n<li><strong>Improved liquidity for M&amp;A activities<\/strong>: For projects under implementation but requiring capital restructuring, the ability to request an extension of the operating term (if the statutory cap has not been reached) creates a longer time horizon, thereby giving new investors greater confidence to inject capital or take over the project.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"3_Draft_guiding_decree_mechanism_for_restoring_lost_time\"><\/span>3. Draft guiding decree: mechanism for restoring lost time<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In addition to granting investors the right to proactively adjust project terms, another notable highlight lies in the mechanisms proposed in the Draft Decree guiding the implementation of the Law on Investment 2025. The draft introduces solutions to protect investors\u2019 interests in cases where time is lost due to delays caused by state authorities.<\/p>\n<p>According to Article 28 of the Draft Decree, the period during which the project is delayed due to objective reasons will not be counted toward the operating term or the project implementation schedule. Two highly practical cases include:<\/p>\n<ul>\n<li><strong>Delay in land handover on site:<\/strong> If the investor has obtained a land allocation \/ land lease decision but the actual handover of the site is delayed, the operating term and implementation schedule will only be calculated from the date the land is actually handed over.<br \/>Notably, the enterprise is not required to carry out procedures to amend the Investment Policy Approval Decision or the IRC, thereby minimizing administrative burdens.<\/li>\n<li><strong>Suspension due to inspection or examination: <\/strong>The period during which the project must be suspended to serve inspection or examination activities by competent state authorities (where the fault does not lie with the investor) will also be excluded from the project\u2019s operating term.<\/li>\n<\/ul>\n<p>Thus, the new provisions of the Law on Investment 2025 are not merely technical amendments in wording, but clearly reflect a shift in regulatory approach \u2014 from strict control to facilitative governance. The flexibility in freely adjusting the operating term, together with the mechanism for restoring lost time, will create a solid legal foundation allowing investors to maximize commercial interests and proactively adapt to market fluctuations.<\/p>\n<p><strong><em>Time<\/em><\/strong><strong><em> of writing<\/em><\/strong><em>: 12\/03\/2026<\/em><\/p>\n<p><em>The article contains general information which is of reference value, in case you want to receive legal opinions on issues you need clarification on, please get in touch with our Lawyer \u00a0at\u00a0 <a href=\"https:\/\/mail.google.com\/mail\" target=\"_blank\" rel=\"noopener\"><strong>info@cdlaf.vn<\/strong><\/a><\/em><\/p>\n<div class=\"content-post-nd\">\n<div style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5519 size-full aligncenter\" src=\"http:\/\/cdlaf.vn\/wp-content\/uploads\/2023\/05\/CHUONG-TRINH-THANG.png\" alt=\"\" width=\"1080\" height=\"600\" srcset=\"https:\/\/cdlaf.vn\/wp-content\/uploads\/2023\/05\/CHUONG-TRINH-THANG.png 1080w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2023\/05\/CHUONG-TRINH-THANG-720x400.png 720w, https:\/\/cdlaf.vn\/wp-content\/uploads\/2023\/05\/CHUONG-TRINH-THANG-768x427.png 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/div>\n<\/div>\n<div class=\"content-post-nd\">\n<p><strong>Why choose CDLAF\u2019s service?<\/strong><\/p>\n<ul class=\"li-content\">\n<li>We provide effective and comprehensive legal solutions that help you save money and maintain compliance in your business;<\/li>\n<li>We continue to monitor your legal matters even after the service is completed and update you when there are any changes in the Vietnamese legal system;<\/li>\n<li>Our system of forms and processes related to labor and personnel is continuously built and updated and will be provided as soon as the customer requests it;<\/li>\n<li>As a Vietnamese law firm, we have a thorough understanding of Vietnam&#8217;s legal regulations, and grasp the psychology of employees, employers, and working methods at competent authorities;<\/li>\n<li>CDLAF&#8217;s team of lawyers has many years of experience in the field of labor and enterprises, as well as human resources and financial advisory.<\/li>\n<li>Strict information security procedures throughout the service performance and even after the service is completed.<\/li>\n<\/ul>\n<\/div>\n<p><strong style=\"color: #a32411;\">You can refer for more information:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/cdlaf.vn\/en\/legal-impacts-of-narrowing-the-scope-of-projects-subject-to-investment-policy-approval-under-the-2025-law-on-investment\/\">Legal Impacts Of Narrowing The Scope Of Projects Subject To Investment Policy Approval Under The 2025 Law On Investment<\/a><\/li>\n<li><a href=\"https:\/\/cdlaf.vn\/en\/the-new-landscape-of-conditional-business-investment-sectors-from-2026-reductions-and-transformations\/\">The New Landscape Of Conditional Business Investment Sectors From 2026: Reductions And Transformations<\/a><\/li>\n<li><a href=\"https:\/\/cdlaf.vn\/en\/statute-of-limitations-in-commercial-contract-disputes-and-risk-control-measures-for-enterprises\/\">Statute of Limitations in Commercial Contract Disputes and Risk Control Measures for Enterprises<\/a><\/li>\n<li><a href=\"https:\/\/cdlaf.vn\/en\/foreign-direct-investment-procedures-issuing-enterprise-registration-certificate-erc-before-investment-registration-certificate-irc\/\">Foreign Direct Investment Procedures: Issuing Enterprise Registration Certificate (ERC) Before Investment Registration Certificate (IRC)<\/a><\/li>\n<\/ul>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2681-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"2681\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/en\/wp-json\/wp\/v2\/posts\/14443#wpcf7-f2681-o1\" method=\"post\" 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btn-yellow\" type=\"submit\" value=\"Send\" \/>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Author: Tran Phuong Nam &#8211; Lawyer Le Hong Dang &#8211; Paralegal During the implementation of long-term investment projects, especially large-scale projects, or multi-phase projects, investors often encounter difficulties when the operating term stated in the Investment Registration Certificate (IRC) or equivalent documents no longer aligns with the actual implementation schedule. Adjusting the operating term of&#8230;<\/p>\n","protected":false},"author":4,"featured_media":14423,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[64],"tags":[],"class_list":["post-14443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"acf":[],"_links":{"self":[{"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/posts\/14443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/comments?post=14443"}],"version-history":[{"count":2,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/posts\/14443\/revisions"}],"predecessor-version":[{"id":14445,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/posts\/14443\/revisions\/14445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/media\/14423"}],"wp:attachment":[{"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/media?parent=14443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/categories?post=14443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cdlaf.vn\/en\/wp-json\/wp\/v2\/tags?post=14443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}