Extending a project’s implementation schedule — conditions and dossier

Can a delayed investment project have its schedule extended? How many times, and what dossier is required? This article analyses the schedule-extension mechanism under the Law on Investment 2025 (No. 143/2025/QH15, effective 1 March 2026) — notably the 24-month cap in Article 33 and the operation-term extension procedure in Decree 96/2026/ND-CP.

1. Two easily confused concepts: schedule adjustment vs operation-term extension

In practice, “extending the schedule” covers two distinct legal mechanisms:

• Adjusting the implementation schedule during project rollout — when the project lags behind its registered schedule (Article 33 of the Law on Investment 2025).
• Extending the operation term when the project nears expiry but the investor wishes to continue (Article 31.5 of the Law on Investment 2025, Article 61 of Decree 96/2026/ND-CP).

Confusing the two leads to filing the wrong procedure, lost time and possible dossier rejection.

2. The 24-month cap on schedule adjustment

Article 33.4 of the Law on Investment 2025 provides: for projects subject to investment-policy approval, the investor may not adjust the schedule by more than 24 months compared with the schedule in the initial approval document — except in 7 cases:

1. Force majeure under civil and land law (natural disasters, epidemics…);
2. Late State land allocation/lease or land-use-purpose conversion approval;
3. Adjustment required by a State management agency or due to an agency’s late administrative procedures;
4. Adjustment following State planning changes;
5. Change/addition of objectives subject to policy approval;
6. Total investment capital increased by 20% or more, changing project scale;
7. Other cases prescribed by the Government.

Notably: time lost to the State’s late land handover is excluded from the project schedule (Article 31.3) — the most important legal basis when explaining delays caused by State agencies.

3. When is investment-policy-adjustment approval required?

Under Article 33.3, investors must obtain approval for adjusting the investment policy (from the original approving authority) when:

• Extending the schedule by more than 24 months versus the initial document (point c);
• Adjusting the project operation term (point d);
• Changing the investment location, land-use area scale, policy-approved objectives, or the investor.

For projects not subject to policy approval, or adjustments outside the above cases, investors only need to adjust the Investment Registration Certificate under Article 56 of Decree 96/2026/ND-CP.

4. Extending the operation term upon expiry: conditions and dossier

When the operation term expires and the investor wishes to continue and meets legal conditions, the project may be considered for extension, each time not exceeding the maximum term (70 years inside economic zones / 50 years outside, Article 31.5). No extension for:

• Projects using obsolete technology, posing environmental-pollution risks or being resource-intensive;
• Projects where the investor must transfer assets without compensation to the Vietnamese State or the Vietnamese party.

Extension dossier (Article 61 of Decree 96/2026/ND-CP) comprises:

• The written extension request;
• A report on project implementation up to filing;
• Documents proving land-use rights (database lookup or certificate);
• Documents proving financial capacity: financial statements for the last 2 years, a parent-company/financial-institution support commitment, or a financial-capacity guarantee;
• The project technology determination document (if subject to technology appraisal).

5. Consequences of unadjusted schedule delays

This is the point investors most often underestimate: 24 months after the deadline for achieving operational objectives, if the investor still has not completed them — and the case is not eligible for schedule adjustment — the project may be terminated by the investment registration agency (Article 36.2(b) of the Law on Investment 2025), followed by revocation of the Investment Registration Certificate.

6. Practical recommendations

• Monitor continuously: compare actual progress against the IRC/approval schedule from the first quarter showing delay signs.
• Keep an evidence trail: all correspondence with State agencies on land handover, administrative procedures and planning — the basis for proving one of the 7 exceptions.
• Act before the 24-month mark: when on-time completion looks impossible, start adjustment procedures immediately; do not wait for expiry.
• Synchronise land: operation-term extension must be paired with land-use-term extension (Article 172 of the Land Law 2024).

For assistance with procedures to adjust or extend an investment project schedule, investors may contact us. See more in our Foreign Investment section.

Prepared and reviewed by the FLAW AI Legal Council — now submitted to the owner for approval prior to publication. This content is for reference only and does not constitute legal advice for any specific case.