Hanoi city People’s Committee Department Of Planning And Investment

Socialist Republic Of Vietnam

Independence – Freedom – Happiness
Hanoi, 22/12/2022
NOTIFICATION
Regarding the failure to meet the conditions to by the capital contribution of foreign investors in Wokr. Joint stock
company
Dear
- Work Joint Stock Company
- Mr. Simon-Hugues Roy ( Canadian nationality ) .
Pursuant to Investment Law No. 61/2020/QH14 dated June 17, 2020
Pursuant to Decree No. 31/2021/ND-CP dated Marche 26, 2021 of the Government regulating detailing and guiding the
implementation of the number of articles of the First Law
Pursuant to the Circular No. 03/2021/TT-BKHĐT dated 9, 2021 of the Minister of Planning and Investment, stipulating the
form for carrying out investment activities, private in Vietnam, Vietnam’s investment abroad and investment promotion.
Pursuant to the Decision No,24/2016/ QĐ-UBND dated August 1, 2016 of the People’s Committee of Hanoi, defining the
functions, tasks, powers and organizations structure of the Department of Planning and Investment of the city HaNoi
Pursuant to the written registration of capital contributions, share purchase and capital contribution of the investment filed
on December 8, 2022
Hanoi Department of planning and Investment announced :
1. The following investors has not yet met the conditions to purchase a capital contribution in Work Joint Stock
Company :
 Mr. Simon-Huge Roy Sumiththa, date of birth : 11/13/1977: Nationality : Canadian, passport number :
AR449505 issued by the Canadian Embassy in Hanoi on June 11, 2021, permanent address: 6 ST-
Estienne, Lesvis , Quesbec, Canada, G6V 5R61006 Toorak Road, Camberwell 3124 Victoria, Australia,
current residence : No.2 Mac Dinh Chi, Truc Bach ward, Ba Dinh district, Hanoi city , Vietnam, phone
number : 0961 743 446 , email : sinmothroy@gmail.com
2. Value and ration of capital contribution, purchase of shares , purchase of capital contribution of the investor is a
follows:
STT Foreign Nationality Value of contributed capital according Expected transaction value of
investor’s to charter capital capital contribution/purchase of
name contributed capital contract
Simon- VNĐ USD Percent VNĐ USD
Hugues equivalent 16% equivalent
Roy
Sumiththa
:
Canadian 5,600,000,00 225,000 20 500,000,000 20.120
0
3. The application does not meet the specific conditions as follows :
Regarding the purpose of registration
+ For the industries included in Vietnam’s schedule of commitments upon joining the WTO, it’s recommended that
the investor review and correctly register the industry, apply the CPC code and explain that it meets the conditions
for the foreign investors according to the regulations ( note the method, form, financial capital, capital contribution
ratio of foreign investors, specialized legal conditions in accordance with Vietnamese law )
+ For industries that are not included in Vietnam’s schedule of commitments upon joining the WTO, request the
investor to explain that it meets the conditions for compliance with the provisions of Vietnamese law and submit an
additional set of documents for application guidance of specialized ministries in case of necessity
- Regarding the expected transaction value of the Share Purchase Contract : investors are requested to report and
clarify the basis and the determination of the expected transaction value ( VND 500,000,000 ) much lower than the
expected transaction value, value of contributed capital according to charter capital ( 5,600,000,000), explain the
business plan of the company after transferring the contributed capital to ensure the efficiency and feasibility when
performing the registered business. For a similar case, the Hanoi Department of Planning and Investment has
 issued Document No. 1533/KH&DT-KTDN dated April 15, 2022 to the Hanoi City tax Department requesting
comments on capital contribution, buy capital contribution from foreign investors. However, the settlement of capital
contribution documents with a transaction value below the value of capital contribution according to the charter
capital has no basis for consideration and settlement.
- After 30 days from the date of signing this documents, in case the investor does not give an explanation according
to the Notice, the Department of Planning and Investment will consider and close the dossier in accordance with
the provisions of Section C, Clause 1, Article 6, Decree No. 31/2011/ND-CP dated March 26,2021 of the
Government.
- The Department of Planni and Investment of Hanoi city makes a big announcement to investors self-knowing and
organizing the implementation.

Destination :
As above
City police
Die GD So ( de b/c: )
Business registration office
1-door unit
…..