What are rights and responsibilities of presiding ministries regarding construction projects financed by public investments in Vietnam?
I want to ask about rights and responsibilities of presiding ministries regarding construction projects financed by public investments in Vietnam. Thank you!
Pursuant to Clause 3 Article 10 of the Circular 107/2018/TT-BTC stipulating rights and responsibilities of presiding ministries regarding construction projects financed by public investments in Vietnam as follows:
- Guide, inspect and encourage project owners under their jurisdiction to carry out plans for investments, receive and use investments for right purposes and in conformance to the State’s regulations. Bear responsibility to the Government and laws on the amount of investments requested to be paid in advance and to be paid to projects within their jurisdiction.
- Bear responsibility for inspecting legality of records, materials and evidencing documents on projects before submitting them to financial institutions and State Treasury. Before sending records, materials and evidencing documents written in foreign languages to financial institutions and state treasuries, they must be translated into Vietnamese (or their important information shall be translated upon the request of the financial institution) and must be original copies or certified true copies with the presiding ministry’s endorsement stamp. In urgent cases where Vietnamese translation is not made on time, the signature and stamp of the presiding ministry held responsible for accuracy and legality of these documents must be affixed.
- Bear responsibility for inspecting the accuracy of quantities, unit prices and values of payment requests; ensure legality of data and materials contained in documentation provided for State Treasury and other State agencies.
- On a quarterly basis, act on behalf of the project owner to preside over collaboration with the State Treasury in reporting and assessing implementation of advance payment of investments and recovery of advances on investments.
- Carry out reporting regimes and final accounts of investments in accordance with regulations in force.
Above are rights and responsibilities of presiding ministries regarding construction projects financed by public investments in Vietnam.
Best regards!
