Vietnam: Integrating target program funds in the project area 2012

According to Article 3 of the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, allocating and assigning cost estimates from additional sources with targets to implement programs, projects and tasks in 2012 are prescribed as follows:

- Based on the cost estimates for implementation of important programs and projects and a number of other tasks assigned by the Prime Minister, Ministries, central agencies, People's Committees of provinces and central-affiliated cities shall allocate and assign cost estimates to subordinate units and administrations to ensure the correct objectives and contents of each programs and projects that have been assigned by competent authorities. The provinces and central-affiliated cities shall integrate the target program funds in their localities according to the prescribed regime for effective implementation; in addition to targeted support capital from the central budget, provinces and centrally-run cities shall proactively allocate local budgets according to commitments and lawful financial sources for implementation.

- Deployment of national target program expenditure estimates in 2012:

+ Based on the list of projects under the national target program decided by the Prime Minister to implement in 2012, the Ministry of Planning and Investment and the Ministry of Finance will announce the funding levels for the programs. Ministries and agencies in charge of programs shall develop normative criteria and funding allocation plans for program implementation and send them to the Ministry of Planning and Investment and the Ministry of Finance for appraisal, synthesis and submit to the Government to report to the National Assembly Standing Committee for comments before implementation and notify the ministries, central agencies and localities.

+ After receiving the notice of funding for the implementation of the national target programs, the ministries and central agencies shall allocate program expenditure estimates to their attached units; The People's Committees of the provinces and centrally-run cities shall develop plans on allocating expenditure estimates for programs and report to the Standing Committee of the People's Council at the same level for comments before implementation and report to the People's Council at the nearest meeting.

View more details at the Circular No. 177/2011/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2012.

Le Vy

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