The latest authority to issue decisions on policies for investment in public investment programs and projects in Vietnam
Currently, the unit is assigned to manage a number of state-funded projects. According to the Law on Public Investment, who will have the authority to issue decisions on policies for investment in public investment programs and projects in Vietnam? What is the legal basis?
The latest authority to issue decisions on policies for investment in public investment programs and projects in Vietnam (Image from the Internet)
According to Article 17 of the Law on Public Investment 2019 (effective from January 1, 2020) stipulating the authority to issue decisions on policies for investment in programs and projects:
1. The National Assembly shall be vested with authority to issue decisions on policies for investment in the following programs and projects:
a) National target programs;
b) Investment projects of national significance.
2. The Government shall be vested with authority to make decisions on policies for investment in public investment programs using the central budget allocations, except those specified in point a of clause 1 of this Article.
3. The Government shall be authorized to set out regulations on power decentralization, procedures and processes for making decisions on investment policies for public investment programs or projects using legitimate revenues from state regulatory authorities and public service units for investment purposes in compliance with regulations on the financial autonomy of entities.
In case where those public investment programs or projects specified in this clause use state budget allocations, authority, procedures and processes for making decisions on these programs or projects shall be subject to provisions laid down herein.
4. The Prime Minister shall be accorded authority to issue decisions on policies for investment in the following programs and projects:
a) Public investment projects specified in clause 1 of Article 8 herein; other group-A public investment projects using the central budget allocations under the jurisdiction of Ministries or central regulatory agencies;
b) Public investment programs and projects using ODA borrowings and preferential borrowings from foreign sponsors, except national target programs and public investment programs specified in clause 1 and 2 of this Article;
c) Public investment programs and projects using non-refundable ODA aids that fall into the following situations: Group-A and group-B public investment programs and projects; public investment programs and projects associated with regulatory policy framework; public investment programs and projects that are developed and implemented in the national defence, security and religion fields; sector-specific approach programs; procurement of goods subject to the Prime Minister’s permission; Vietnam’s participation in regional programs and projects;
d) Technical support projects using ODA funds and preferential borrowings from foreign sponsors for preparations for investment projects.
5. Ministers and Heads of central regulatory agencies shall be accorded authority to make decisions on policies for investment in group-B and group-C public investment projects under their management, except those projects specified in clause 4 of this Article.
6. Provincial-level People’s Councils shall be accorded authority to make decisions on policies for investment in group-A projects under their jurisdiction, except those projects specified in clause 4 of this Article.
7. People’s Councils at all levels shall be vested with powers to make decisions on policies for investment in group-B or group-C public investment programs and projects using the local budget’s allocations, including target transfers from the superior budget and legitimate funding sources under their jurisdiction, except those public investment projects prescribed in clause 4 of this Article.
Where necessary, People’s Councils shall be accorded authority to make decisions on assign People’s Committees at the same level to make decisions on policies for investment in projects specified in this clause in line with developmental objectives, guidelines, financial capacity and specific conditions of localities.
8. In case of adjustments in policies for investment in public investment programs and projects, authority to make decisions on policies for investment in public investment programs and projects shall be subject to regulations laid down in clause 1 of Article 34 herein.
Above is our consulting content. For more related content, you can see more at the Law on Public Investment 2019.
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