For a Data Center project in Vietnam, an investor's compliance obligations do not end upon completing the investment approval procedures or obtaining an Investment Registration Certificate. Throughout the project lifecycle, from project implementation and construction to operation, expansion, and termination, investors may be required to comply with various reporting requirements. These obligations arise not only under investment laws but may also extend to other sector-specific regulations directly related to Data Center operations.
Vietnam's regulatory framework governing investment activities and investment monitoring and evaluation has undergone significant changes since the beginning of 2026. Therefore, Data Center investors should establish a legal compliance calendar from the early stages of project development to effectively manage reporting obligations throughout the entire project lifecycle.
1. Investment Project Implementation Report
Under the Investment Law 2025, investors and economic organizations implementing investment projects are responsible for reporting on project implementation to the local investment registration authority. For Data Center projects, this is one of the fundamental reporting obligations that must be fulfilled periodically throughout project implementation.
These reports generally cover investment capital implementation, business performance, employment, contributions to the State budget, research and development activities, environmental protection, and other relevant indicators as prescribed by law. Investors should proactively monitor and consolidate data relating to total registered investment capital, disbursed capital, construction costs, machinery and equipment expenditures, electrical infrastructure, cooling systems, backup generators, information technology infrastructure, and other investment expenditures. In addition, enterprises should prepare information on revenue, capacity utilization, Data Center floor space or capacity brought into operation, the number of customers, and other business indicators relevant to their operating models. Regarding human resources, enterprises should regularly update their workforce figures and changes in employment during each reporting period. They must also monitor and report on tax obligations, contributions to the State budget, and other financial obligations.
Under Article 94 Decree no. 96/2026/ND-CP, investment project implementation reports must be submitted on a quarterly and annual basis. Quarterly reports must be submitted before the 10th day of the first month of the following quarter, while annual reports must be submitted before March 31 of the following year.
2. Investment Monitoring and Evaluation Report
For Data Center projects in general and foreign-invested projects, investors are required to submit investment monitoring and evaluation reports in accordance with applicable regulations.
Although the contents of investment monitoring and evaluation reports may overlap with those of investment project implementation reports, these are separate reporting requirements, both of which are mandatory for investors where applicable. Therefore, enterprises should not assume that submitting an investment project implementation report automatically fulfills all their investment monitoring and evaluation obligations. Investment monitoring and evaluation reports focus particularly on project implementation progress, capital disbursement, construction schedules, achievement of project objectives and scale, land use, operational performance, and issues arising during implementation. Since the beginning of 2026, reporting obligations have also been linked to the requirement to update project information on the Investment Monitoring and Evaluation Information System. Investors should ensure that project information is updated completely, accurately, and consistently with the project's legal, financial, and technical documentation.
Under Article 94.11 Decree no. 19/2026/ND-CP (amended by Decree No. 96/2026/ND-CP.), investors subject to these requirements must submit semi-annual and annual investment monitoring and evaluation reports, as well as additional reports in circumstances prescribed by law.
3. Investment Monitoring and Evaluation Report Prior to Project Adjustments
A Data Center project is often developed over multiple phases rather than implemented in a single stage. Many projects adopt a campus development model or are divided into several phases, allowing capacity, construction area, total investment capital, and supporting infrastructure to be expanded in response to market demand and investor capabilities.
During project implementation, investors may need to adjust total investment capital, project scale, land area, capacity, implementation schedule, objectives, location, operating term, or other project-related matters. Before initiating project adjustment procedures, investors should review and fulfill any applicable requirements to submit an investment monitoring and evaluation report prior to project adjustment pursuant to Form No. 16 prescribed in Circular No. 44/2026/TT-BTC.
For example, where an investor plans to expand Phase 2, increase the designed capacity, or substantially increase total investment capital, the enterprise may be required to amend its Investment Registration Certificate. The adjustment dossier may include both a report on project implementation up to the adjustment date and an investment monitoring and evaluation report, as applicable.
Conducting a comprehensive compliance review at this stage helps minimize inconsistencies between project adjustment documentation and actual implementation progress.
4. Project Completion Evaluation Reports
Investors' reporting obligations may continue even when a project reaches its completion or termination stage. For projects subject to the relevant requirements, investors must prepare a project completion evaluation report in accordance with investment monitoring and evaluation regulations pursuant to Form No. 17 prescribed in Circular No. 44/2026/TT-BTC.
This report assesses project implementation against the approved or registered objectives, scale, schedule, and investment capital. Investors should prepare and maintain comprehensive records of actual investment capital, implementation progress, operational results, investment efficiency, fulfillment of financial obligations to the State, and the settlement of outstanding obligations upon project completion or termination.
This requirement is particularly important for multi-phase projects or projects with long operating periods, as the completion of an individual phase does not necessarily constitute the completion of the entire investment project.
5. Employment Reports
Although employment reporting is not a reporting obligation specific to investment projects, Data Center operators must comply with applicable labor reporting requirements. This is particularly relevant to Data Center projects, as their operating models typically require technical personnel to work continuously on rotating shifts and may involve both Vietnamese and foreign employees.
Enterprises should monitor workforce numbers, changes in employment, foreign employees, work permits or certificates confirming work permit exemptions, employment contracts, social insurance, working hours, and occupational safety and health requirements.
Under current regulations, enterprises are required to submit periodic reports on changes in employment on a semi-annual and annual basis. Data Center operators should ensure that employment information remains consistent across different regulatory reports.
6. Fire Prevention and Fighting Reports
Fire prevention and fighting (FPF) compliance is among the most critical regulatory obligations for Data Center projects. Data Centers are characterized by high concentrations of electrical and technological equipment and continuous operations. Accordingly, fire safety requirements and emergency response capabilities must be maintained and managed throughout the project lifecycle.
Depending on the type and regulatory classification of the facility, enterprises may be required to conduct periodic inspections, maintain fire prevention and fighting systems, and fulfill reporting obligations under applicable laws.
Investors should maintain comprehensive documentation relating to fire safety design and acceptance, fire detection and suppression systems, rescue and emergency response equipment, inspection and maintenance records, and corrective actions taken in response to deficiencies identified by competent authorities.
Investors should establish a legal compliance calendar from the investment preparation stage to systematically manage legal and reporting obligations throughout each phase of the project. Late submissions, failure to fulfill reporting obligations, or the provision of inaccurate information may result in administrative penalties and create difficulties in project adjustment procedures, capital increases, capacity expansion, or extensions of the project's operating term. For large-scale Data Center projects developed in multiple phases, maintaining consistency across investment, land, construction, financial, environmental, and operational documentation is particularly important for minimizing compliance risks.
Therefore, a comprehensive legal compliance calendar should cover the entire project lifecycle, from investment preparation and construction to operation, expansion, and eventual completion or termination. This enables investors to proactively manage regulatory deadlines, legal obligations, and project implementation schedules.
Through our comprehensive ecosystem of expertise and services, DCOMPASS supports investors in developing phase-specific legal compliance calendars, including reviewing regulatory requirements relating to investment, land, construction, power infrastructure, environmental protection, fire prevention and fighting, telecommunications, and operational compliance. Through these services, DCOMPASS helps investors mitigate legal risks and facilitate the successful development, operation, and expansion of Trung tâm Dữ liệu projects in Vietnam.
