I GENERAL PART

I. Making Investment In Vietnam 1. Investment Options for Foreign Investors The National Assembly of Viet Nam passed the common Investment Law in November 2005. The intent of the common Investment Law is to create a unified legal regime for investment activities and promote investments by allowing all participants in the Vietnamese economy to invest and conduct business on the basis of equality, fair competition, transparency and stability. The common Investment Law articulates the general principle regarding an investor's freedom in choosing investments. Investors can invest in any sectors of the Vietnamese economy except certain prohibited sectors. In sectors where investment is subject to specific entry conditions, such conditions must also be complied with. 1.1. Prohibited Investment Sectors Foreign investors are prohibited from investment in the following four main categories: Projects detrimental to national defense and security and the public interest; Projects detrimental to historical relics, culture, and morals; Projects harmful to public health, natural resources and the environment; and Projects for the treatment of toxic waste brought into Vietnam; projects for the manufacture of any type of toxic chemicals or for the use of chemical agents prohibited by provisions of international treaties 1.2. Conditional Investment Sectors If foreign investors invest in the conditional investment sectors regulated by Vietnamese law, they shall comply with the specific investment conditions provided that such investment conditions must be consistent with the provisions of international treaties to which Vietnam is a member (i.e., Vietnams commitments to WTO). The following conditional investment sectors are applicable to all foreign investors who invest in Vietnam: Radio and television broadcasting. Production, publishing and distribution. Exploration and mining of mineral. Establishment of infrastructure for telecommunications network, transmission and provision of internet and telecommunications services. Establishment of public postal network and provision of postal services and express services. Construction and operation of river ports, seaports, terminals and airports. Transportation of goods and passengers by railway, airway, roadway and sea and inland waterways. Catching of aquaculture. Production of tobacco. Real estate business.

Import, export and distribution business. Education and training. Hospital and clinics. Other investment sectors in international treaties of which Vietnam is a member and which restrict the opening of the market to foreign investors (i.e., all Vietnams commitments to WTO regarding trade in services).

Vietnam's membership to the WTO became effective on January 11, 2007. According to the Vietnam Commitments to the WTO, Vietnam makes commitments on goods, particularly tariffs and agricultural subsidies, commitments on services, identifying which services foreign service providers can provide and the conditions applicable to such activities including limits on foreign ownership. Finally, Vietnam makes commitments regarding changes in the institutional and legal set-up for trade. The investment options open to foreign investors in Vietnam will likely change even more following Vietnam's WTO accession, as Vietnam's WTO commitments become incorporated into the list of conditional sectors regulated by the law.

2. Forms of Investment The common Investment Law distinguishes between direct and indirect investment. Direct investments involve the investment of capital by an investor who participates in the management of the investment. In indirect investments, the investor may be (A) purchasing shares, share certificates, bonds or other valuable papers, (B) investing in investment funds, or (C) investing in through an intermediary financial institutions; but in all instances the investor does not participate directly in the management of investee enterprises. For your transparent view, the detailed guidelines on direct investment and indirect investment shall be respectively presented herein at Section 2.1 and Section 2.2 of Part A. 2.1. Direct Investment Foreign investors are given significant flexibility in choosing one of the following appropriate economic structure for their investment strategy subject to compliance with applicable sector restrictions. Private enterprise means an enterprise owned by one individual who shall be liable for all activities of the enterprise to the extent of all of his or her assets. The private enterprise may not issue any type of security. Each individual may only establish one private enterprise. Partnership means a business having at least two co-owners who jointly conduct business under one common name. Such co-owners must be individuals who shall be liable for the obligations of the partnership to the extent of all their assets. The partnership may not issue any type of security. In addition to co-owners of the partnership, there are capitalcontributing members in the partnership. These capital-contributing members shall only be liable for the debts of the partnership to the extent of the amount of capital they have contributed to the partnership. Limited liability company with one member means an enterprise owned by one organization or one individual. The organization or individual shall be liable for all debts and other

property obligations of the company within the charter capital amount of the company. A limited liability company with one member may not issue shares. Limited liability company with 2 or more members means an enterprise in which a member may be an organization or an individual. The number of members shall not exceed 50. The members of the company shall be liable for the debts and other property obligations of the enterprise within the amount of capital that they have undertaken to contribute to the company. The share of capital contribution of each member may be transferred. A limited liability company with 2 or more members may not issue shares. Joint stock/shareholding company means an enterprise in which: the charter capital shall be divided into equal portions called shares; shareholders may be organizations or individuals; the minimum number of shareholders shall be three and there shall be no restriction on the maximum number; shareholders shall be liable for the debts and other financial obligations of the enterprise only within the amount of capital contributed to the enterprise; shareholders may transfer their shares to other persons. A joint stock company may issue all types of securities to raise funds.

The foreign investor can set up a business establishment entirely owned by such investor in Vietnam (except certain sectors whether the foreign shareholding is regulated by law. Please see Section 2.3). Alternatively, the foreign investor may choose to joint venture with Vietnamese local partner(s) or foreign partner(s) to set up a multiple member limited liability company, shareholding company or a partnership. The foreign investor can select to sign a Business Cooperation Contract (BCC) with local partners in order to co-operate in production and share profits or to share products and other forms of business cooperation, without setting up a new legal entity in Vietnam. A foreign investor can sign a Building Operation Transfer (BOT), Building Transfer Operation (BTO) and Building Transfer (BT) contract with a competent State body in order to implement projects for new construction, expansion, modernization and operation of infrastructure projects in the sectors of traffic, electricity production and business, water supply or drainage, waste treatment and other sectors as stipulated by the Prime Minister of the Government. 2.2. Indirect investment A foreign investor shall be permitted to carry out the following forms of indirect investment in Vietnam: Purchase of shares, share certificates, bonds and other valuable papers; By way of securities investment funds; and By way of other intermediary financial institutions.
Any investment by way of purchase or sale of shares, share certificates, bonds and other valuable papers of individuals and organizations and procedures for conducting indirect investment activities shall be implemented in accordance with the Law on Securities and other provisions of relevant laws.

2.3. Foreign Ownership Restrictions Under the common Investment Law, foreign investors may purchase shares in or make capital contribution to, existing Vietnamese companies. However, foreign ownership restriction must be in line with, among others, (i) Vietnams international commitments on ownership ratio, investment form and market access schedule, and (ii) regulatory requirements on investment in the conditional investment sectors provided that they must follow the provisions in international treaties of which Vietnam (i.e., Vietnams commitments to WTO) is a members. Generally, acquisition of shares in Vietnamese companies by foreign investors is currently limited to specified percentages, depending primarily on whether such companies are listed on a Vietnamese stock exchange and in what sector they operate. At the moment, the limit on foreign ownership in a company listed on a Vietnamese stock exchange is set at 49%. The limit on foreign ownership of unlisted companies is 30%. Particularly, under Vietnams commitments to WTO, foreign investors have the right to purchase shares in existing Vietnamese companies (i.e., unlisted company) with the percentages as follows: From January 11, 2007 until January 11, 2008, up to 30% of the charter capital, unless otherwise provided by Vietnamese laws or authorized by Vietnams competent authority. From January 11, 2008 until December 31, 2008, less than 99% of the charter capital; and No limitation as from January 1, 2009 except for capital contribution in the form of (A) buying shares of joint-stock commercial banks, and (B) the sectors not committed in Vietnams WTO Schedule of Specific Commitments in Services (Services Schedules), provided that the level of equity held by foreign investors in acquisition of Vietnamese enterprises shall be corresponding to the limitations on foreign capital participation set forth in the Service Schedule, including the limitations in the form of transitional periods, where applicable.

II. Procedures for setting up a foreign-invested enterprise

1. Investment Certificate For first time foreign investors must have an investment project before being granted an investment certificate. The investment certificate also serves as the business registration certificate. The investment certificate shall be issued as part of the investment registration and/or evaluation processes based on (i) the type of project, (ii) the scale of invested capital and (iii) whether such project is in a conditional investment sectors. The investment certificate for foreign invested project will have a fixed term not longer than 50 years, which by law may be extended up to 70 years with the approval of the Government. The investment certificate will set out the specific scope of business activities that a foreign investor is permitted to undertake in Vietnam, the amount of investment capital, the location and

the land area to be used, and the relevant incentives (if any). The investment certificate must also indicate the project implementation schedule for the investment. 2. Procedures The licensing authority shall issue an investment certificate within a time limit of 15 working days (for cases of a foreign project subject to the registration process) or 30 working days (for cases of a foreign project subject to the evaluation process) from the date of receipt of a complete and valid application. The registration process applies to a foreign-invested project with invested capital of less than VND300 billion and is not included in the list of conditional business sector. The evaluation process applies to the two following cases: Foreign projects with capital of at least VND300 billion: the evaluation process will in substance focus on the projects compliance with the applicable infrastructure master plan, land use master plan and the master plan for raw materials and other natural resources. Other factors to be considered include land use requirements, project implementation schedule and environmental impact. Foreign projects included in the list of conditional business sectors regardless of the scale of the invested capital: The evaluation process will focus on compliance with applicable sector conditions. If the project has capital exceeding VND 300 billion other factors as discussed above shall also be considered.

3. Licensing Authority The licensing authority is further decentralized to provincial peoples committees and provincial boards of management of industrial zones, export processing zones and hi-tech zones (Board of Management). With respect to certain important or sensitive business sectors, the grant of investment certificate by a provincial peoples committee or a Board of Management must be based on an investment policy or economic plan that has already been approved by the Prime Minister. a. Prime Ministers Approval The following projects are required to be obtained the approval on the investment policy from the Prime Minister: (i) Construction and commercial operation of airports; air transportation; (ii) Construction and commercial operation of national sea ports; (iii) Exploration, production and processing of petroleum; exploration and mining of minerals; (iv) Radio and television broadcasting; (v) Commercial operation of casinos; (vi) Production of cigarettes; (vii) Establishment of university training establishments; (viii) Establishment of industrial zones, export processing zones, high-tech zones and economic zones.

If any of these projects listed above are already included in an economic plan approved by the Prime Minister and are consistent with the conditions in an international treaty to which Vietnam is a signatory, the provincial peoples committee or the Board of Management can proceed to grant the investment certificate without obtaining a separate approval from the Prime Minister. If any of these projects are not included in an economic plan approved by the Prime Minister or does not meet conditions of an international treaty to which Vietnam is a signatory, the provincial peoples committee or the Board of Management must obtain approval from the Prime Minister prior to the grant of the investment certificate and concurrently coordinate with the MPI and other ministries to propose to the Prime Minister to decide on any supplement or adjustment to the economic plan.

b. Provincial Peoples Committee The provincial peoples committee has the authority to consider and grant an investment certificate to any investment project within its provincial territory regardless of the amount of investment capital or intended investment activities. In particular, a provincial peoples committee is authorized to license: Investment projects located outside industrial zones, export processing zones and high-tech zones; and Investment projects to develop infrastructure for industrial zones, export processing zones and high-tech zones where the Board of Management in that province has not been established.

The provincial Department of Planning and Investment is responsible for receiving application documents for investment certificates for and on behalf of the relevant peoples committees.

c. Board of Management The Board of Management will consider and grant investment certificates to investment projects made in an industrial zone, export processing zone and high-tech zone.

II - DETAILED PART
A. FIRST TIME INVESTORS Foreign investors can create local companies under the forms of: Limited liability (LLC), Joint Stock (JSC); they can be either 100% foreign owned or in joint venture with local partners. The company creation process is the same for all types of companies . However, it varies according to the location of the company and to the authority which will grant the investment certificate (see left column). The process will also be different if the investor intends to lease land or if he only wants to rent an office or existing factory space. Finally, special requirements (a feasibility study must be included in the application file) apply to investments of more than VND300 billions (USD16.7 millions). Land is State owned in Viet Nam, but investors can lease land to establish their project. The lease is limited to 50 years (up to 70 years in special cases). Foreign investors can invest in Viet Nam without creating a company. They can sign with a Vietnamese company or individual a business cooperation contract (BCC), in which parties jointly undertake business activities and share the resulting profits. The Vietnamese company can be owned by nationals, by foreigners or be a joint-venture. Optionally, the foreign party can set up an executive office in Vietnam, should it be useful to execute its part of the activities.

I. Create a company with (DPI)

simple office or factory space lease

outside special zones

1. Procedures of issuing investment certificate applied for registration project Profiles of administrative procedures, including: 1) Written request for issuance of investment certificate (I-3) 2) Report on financial capability of the investor (which the investor shall prepare and for which the investor shall be liable); [the contents of the report must clearly indicate the source of investment capital. Investors can also attached certified balance bank account (for individual investors) or Financial Statement (for the organization investor)] 3) Draft company charter corresponding to each type of company. The Draft company charter must be fully signed by the partners in the case of the partnership; by the legal representative and by members or their authorized representatives in the case of the multiple member limited liability company; and by the legal representative and by founding shareholders or their authorized representatives in the case of shareholding company. 4) List of members corresponding to each type of company (II-4, I-8 or I-9) 5) Documents certifying the legal status of the investor:

For an individual investor: Valid copy of one of the documents for personal identification: identity card, passport or other lawful personal identification. - For organization investors: + Applied for establishment of multiple member limited liability company, shareholding companies and partnerships: Valid copy of the decision on establishment, Business registration certificate or other equivalent document + Applied for establishment of single member limited liability company : Valid copy of the decision on establishment, Business registration certificate or other equivalent document, charter or other equivalent document if the company owner is an organization (except where the State is the company owner). Document of foreign organization must be consular legalized within three months before the date of submission of the business registration documents 6) Power of attorney from the investor to the authorized representative if the company owner is an organization and valid copy (notarized copy) one of the legal papers of individual as authorized representative. 7) Joint venture contract in the case of establishment of a joint venture economic organization between a domestic investor and a foreign investor. 8) In the case of investment projects using State capital, there must have written permission of competent agency to use State capital to invest the project Notes: - In case, the investor authorizes organizations and individuals make investment procedures, when submitting the application file at DPI must present ID. Card/passport other lawful personal documents and power of attorney. - The documents in foreign languages must be translated into Vietnamese and certified by organizations which is allowed for translation - For the purpose of the management of the area as well as convenience in considering the legality of the location, recommended investors to present legal documents related to the head office address and location project (valid copy of notarized lease contract or the related legal papers to prove legal right to use the site) attached to the application file. Number of submitted set: 04 sets (01 original, in Vietnamese or in Vietnamese and popular foreign language) to be filed in each book. Time for issuing Investment Certificate from the date of receipt of application file full and valid: 15 working days 2. Apply for company seal The seal must be made at one of the authorised seal making companies (listed above). After having received the payment of seal making fees, the seal making company will issue the receipt of seal making, complete and send the seal directly to the Police authority, where the Company shall pick up the seal and seal specimen registration certificate.

The Company may also come to the Ho Chi Minh Police Department, Division of Administration on Social Security to request seal making procedures. In this case, the Division of Administration on Social Security shall receive the application file, issue the receipt of seal making and introduce the Company to an authorized seal making company to pay seal making fees. The enterprise come to one of the authorized seal making company for seal engraving: * Procedure and dossier: 1) Certified copy of Investment Certificate. 2) Authorization document of companys legal representative for the person requesting seal making if the companys legal representative does not request directly, this authorization document must be certified by competent notary or authentication agencies (peoples committees, notary bureaus, notary offices). 3) Presenting original ID card/passport of the person requesting seal making. 4) Payment of seal making fees. (price agreement with seal making company). 5) Receive seal collecting appointment receipt. (Time and address indicated on the seal collecting appointment receipt). * Time of making company seal: 3. Apply for tax registration Within 10 working days after the issuance date of the investment certificate, the company must submit a tax registration application. * Tax registration dossier: 1) Declaration form for tax registration 2) List of tax registration application documents 3) One certified copy of Investment Certificate * Time: 5 days Entity in charge: Ho Chi Minh City Tax Department Office in charge: Reception and Release Unit, Counter No 13 4. Open bank account The company must open a special capital foreign currency account at any authorized bank in Vietnam. This account is used for capital transactions e.g. making charter capital contributions and foreign loan disbursements and payments. The company may also open and maintain several foreign currency and Vietnamese dong accounts at any bank in Vietnam. Dossier:

1) Notarized copy of the investment certificate 2) Notarized copy of the passport/ID card of the legal representative of the company 3) The bank may have other requirements 5. Publication in Newspaper Within thirty (30) days from the date of issuance of investment certificate (or amended investment certificate), the company establishment (or change of business registration contents in the investment certificate) must be published in a written or electronic newspaper in three consecutive issues. Announcement may be made either in Vietnamese or English. Information and document: 1) Information of the company to be published include: (i) name of the company; (ii) Addresses of the head office of the enterprise, branch, representative office; (iii) Lines of business; (iv) Charter capital in the case of a limited liability company or partnership; quantity of shares and value of share capital already contributed and quantity of shares to be issued in the case of a shareholding company; initial investment capital in the case of a private enterprise; legal capital in the case of an enterprise engaged in a line of business for which legal capital is required; (v) Names, addresses, nationalities, numbers of peoples identity cards, passports or other lawful personal identification of the owner, founding members or shareholders;(vi) incorporation registration number (for corporate investor (vii) Full name permanent address, nationality, number of peoples identity card, passport or other lawful personal identification of the legal representative of the enterprise; (viii) Place of business registration. 2) A certified copy of the investment certificate.

II. Create a company with land lease at Saigon Hi -Tech Park (SHTP)
1. Procedure and dossier; The files of an investment project and official correspondence with the State bodies of Vietnam shall be prepared in Vietnamese in the case of domestic investment projects; and in the case of foreign investment projects, they shall be prepared in Vietnamese or in Vietnamese and a commonly used foreign language. If there is any difference between the Vietnamese language version of a document and the foreign language version, the Vietnamese version shall be applied Dossier: 1) Request for issuance of investment certificate (I-3) 2) Report on financial capability 3) List of members/shareholders (I-8, I-9, I-10) (Eng)

4) Charter (Eng) 5) Power of attorney Entity in charge: Saigon Hi-Tech Park Board of Management (SHTPBOM) Office in charge: Investment Division 2. Technology evaluation and approval The investor (or it authorized representative) is recommended to send the required technology documents to SHTPBOM for its review and comments before official submission. Within 10 days after receiving the technology evaluation application, if SHTPBOM has any question or requires any further document in connection with the technology approval application, it will inform the investor. Documents: 1) Technology evaluation application signed by the investor 2) Technology documents of the investment project (if any) Number of copies: 1 original and 6 copies Time: 11 days 14 days Entity in charge: Saigon Hi-Tech Park Board of Management (SHTPBOM) Office in charge: Department of Investment and Cooperation (DIC) 3. Land lease agreement Procedure: 1) Signed land lease agreement (4 originals in bilingual languages, English and Vietnamese) 2) Payment of deposit Within 10 days from the date of signing land lease agreement, the investor must pay the deposit by bank transfer (10% of total land rent). Within 01 month from the date of signing land lease agreement, the investor must submit the application file for issuance of investment certificate or the investor will lose the paid deposit. However, this time may be extended upon reasonable request of the investor. Time: 0 day 30 days 4. Submit application file for issuing investment certificate For all types of companies: 1. Application duly filled and signed by the investor

2. Draft of company charter initiated on each page and signed on the signing page by the investor and the legal representative of the company 3. Financial capability of the investor duly signed by the investor 4. Land lease agreement or equivalent document and documents regarding the ownership of the premises and rights to lease of the lessor 5. Legalized copy of the passport/notarized copy of ID card (for Vietnam citizens) of the legal representatives of the company 6. List of founding members (if it is a limited liability company) or founding shareholders (if it is a joint stock company) signed by all authorized representatives of the investors and the legal representative of the company in the relevant signing pages 7. Technical application with supplemented contents approved by SHTP Scientific Council For a joint venture company: 8. Joint venture contract initiated on each page and signed on the signing page by authorized representatives of the investors For a limited liability company with one corporate member: 9. List of the authorized representatives of the investor signed by all authorized representatives of the investor in the collective signing place on the table and the legal representative of the company in the signing page For individual investors: 10. Legalized copy of passport 11. Bank confirmation in which the balance of the bank account is at least equal to the investor's contribution to the company's charter capital For corporate investors: 12. Legalized copy of certificate of incorporation 13. Copy of charter or equivalent document certified true copy and sealed by the investor. If the investor does not have a seal, such copy must be legalized 14. Decision of the investor on: (i) the establishment of the company, (ii) appointments of authorized representative of the investor to the company and (iii) approval of the legal representative of the company 15. Legalized most recent audited financial report of the investor or bank confirmation in which the credit balance is at least equal to the charter capital of the company 16. Legalized copy of the passport/notarized copy of ID card (for Vietnamese citizens) of the authorized representatives of the investor in the company For the person submitting the application file: 17. Valid ID card/passport (original) of the person submitting the application file 18. Power of attorney to the person who submits the application file if the investor does not submit the same directly Notes: 1. Number documents: 1 original and 2 copies 2. The legalization is only valid within 3 months from the date of the legalization

3. The investor may submit copy of passport as notarized by any commune people's committee in Vietnam without legalization for documents Nos. 5, 9, 15 and 16 Time: 5 days 15 days 5. Making company seal As section I.2 above 6. Register Tax code As section I.3 above 7. Open bank account As section I.4 above 8. Lease land - The land lease contract is signed in 8 bilingual originals in English and Vietnamese. SHTPBOM keeps 5 originals and the lessee keeps 3 originals. - Hand over the land: The handover will be conducted in accordance with the relevant provisions of the land lease contract. SHTPBOM will inform the company to come to carry out the land survey and handover procedures. SHTP and the company will sign a handover minute. - Collect certified land map: SHTPBOM will carry out procedures to get the land maps certified by the Ho Chi Minh City Department of Natural Resource and Environment (DONRE). SHTPBOM will obtain the certified land maps from DONRE and then inform the company to come to SHTP to collect the certified land maps. - The investor pay land rental by following the payment schedule regulated in the land lease contract. - Collect land rent payment certificate 9. Request for land use right certificate SHTPBOM carries out the procedures to obtain the land use right certificate in the name of the company from DONRE. It may however require that the company assign staff to assist e.g. to accompany SHTPBOM officers in the meetings with DONRE and other relevant bodies in relation to the land use right certificate procedures. Documents 1. Request letter for land use right certificate 2. Copy of the investment certificate certified by SHTPBOM as true copy 3. Copy of the land lease agreement certified by SHTPBOM as true copy 4. Copy of the land delivery record certified by SHTPBOM as true copy

5. Original certified land maps 6. Original land rent payment certificate Time: 60 days 70 days 10. Publication in Newspapers As section I.5 above

III. Create a company with land lease Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA)
1. Sign MOU on land The investor signs an MOU on land lease in the industrial zone or export processing zone where the investment project is located. The investor pays a deposit. The land lease contract will be signed by the company and the IDC after issuance of the investment certificate. 1. Procedures of issuing investment certificate applied for registration project Profiles of administrative procedures, including: 1) Written request for issuance of investment certificate (I-3) 2) Report on financial capability of the investor (which the investor shall prepare and for which the investor shall be liable); [the contents of the report must clearly indicate the source of investment capital. Investors can also attached certified balance bank account (for individual investors) or Financial Statement (for the organization investor)] 3) Draft company charter corresponding to each type of company. The Draft company charter must be fully signed by the partners in the case of the partnership; by the legal representative and by members or their authorized representatives in the case of the multiple member limited liability company; and by the legal representative and by founding shareholders or their authorized representatives in the case of shareholding company. 4) List of members corresponding to each type of company (II-4, I-8 or I-9) 5) Documents certifying the legal status of the investor: - For an individual investor: Valid copy of one of the documents for personal identification: identity card, passport or other lawful personal identification. - For organization investors: + Applied for establishment of multiple member limited liability company, shareholding companies and partnerships: Valid copy of the decision on establishment, Business registration certificate or other equivalent document + Applied for establishment of single member limited liability company : Valid copy of the decision on establishment, Business registration certificate or other equivalent document, charter or other equivalent document if the company owner is an organization (except where the State is the company owner).

Document of foreign organization must be consular legalized within three months before the date of submission of the business registration documents 6) Power of attorney from the investor to the authorized representative if the company owner is an organization and valid copy (notarized copy) one of the legal papers of individual as authorized representative. 7) Joint venture contract in the case of establishment of a joint venture economic organization between a domestic investor and a foreign investor. 8) In the case of investment projects using State capital, there must have written permission of competent agency to use State capital to invest the project Notes: - In case, the investor authorizes organizations and individuals make investment procedures, when submitting the application file at DPI must present ID. Card/passport other lawful personal documents and power of attorney. - The documents in foreign languages must be translated into Vietnamese and certified by organizations which is allowed for translation - For the purpose of the management of the area as well as convenience in considering the legality of the location, recommended investors to present legal documents related to the head office address and location project (valid copy of notarized lease contract or the related legal papers to prove legal right to use the site) attached to the application file. Number of submitted set: 04 sets (01 original, in Vietnamese or in Vietnamese and popular foreign language) to be filed in each book. Time: 15 days Investors (or authorized person) may apply directly or through an IDC Hepza. Within three days, Hepza will inform about the validity and completeness of application file, and may require investors to provide additional information or explanation. The 15-day period for issuance of the investment certificate will be re-counted from the date of submission of the additional documents. Other steps are like the above methods of investment.