06 construction cost management principles for PPP projects

08:58, 16/08/2019

On August 14, 2019, the Government of Vietnam issued Decree No. 68/2019/NĐ-CP on construction cost management, which specifies 06 construction cost management principles, including:

- Construction cost management must ensure achievement of investment targets and project proficiency and construction costs must be calculated correctly and sufficiently for each project;

- The State shall manage construction costs by promulgating legal documents, providing instructions, and inspecting the implementation thereof;

- Investors are responsible for construction cost management from the project preparation stage to the completion and inauguration of the project;

- With regard to specific construction works classified as state secrets and works constructed under urgent orders, the principles and methods of determining construction costs, systems of measuring devices, construction prices and price indexes set out in this Decree shall be applied;

- With regard to infrastructure construction projects under the National target program on sustainable poverty reduction, the principles and methods of determining construction costs specified in this Decree shall be applied;

- The inspection, examination and audit shall comply with the bases specified in this Decree.

View more details at Decree No. 68/2019/NĐ-CP of Vietnam’s Government, effective from October 01, 2019.

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