What are regulations on management and use of funding for supervision and assessment of investment in Vietnam?
What are regulations on management and use of funding for supervision and assessment of investment in Vietnam? What are specific costs of supervision and assessment of investment in Vietnam?
What are regulations on management and use of funding for supervision and assessment of investment in Vietnam?
Pursuant to Article 90 of the Decree 29/2021/ND-CP stipulating management and use of funding for supervision and assessment of investment in Vietnam as follows:
- Funding for supervision and assessment of investment by owners of public investment programs and owners of public investment projects shall comply with regulations on cost management of investment programs/projects.
- Management and use of funding for supervision and assessment of investment by investment deciders, investors in projects funded by non-public investment state capital and regulatory authorities competent to conclude and execute PPP contracts shall comply with Clause 1 of this Article.
- Funding for supervision and assessment of investment by investors in projects funded by other sources of capital: investors shall manage and use the funding for supervision and assessment of investment on a case-by-case basis.
- Management and use of funding for supervision and assessment of investment by competent authorities.
+ Authorities in charge of supervision and assessment of investment shall make annual plans and estimates of costs of supervision and assessment of investment. The cost estimate shall be made according to the plan for supervision and assessment of investment, the specific costs mentioned in Article 89 of this Decree, and the limits prescribed by applicable regulations;
+ Funding for supervision and assessment of investment shall comply with regulations on management and use of sources of administrative and regular funding of competent authorities or the Law on State Budget;
+ In case an authority hires a consultancy to assess the program/project, the cost management in which case is the same as management of cost of consultancy services. Advance and payment for hiring a consultancy to assess the program/project shall comply with current regulations on management of payments for investment and construction consultancy.
- Management and use of funding for public supervision of investment
+ Funding for public supervision of investment in a commune is included in the cost estimate of Vietnamese Fatherland Front Committee of the commune, which is covered by the commune budget. The minimum funding for public supervision of investment is VND 10 million per year and varies according to the plan for public supervision of investment made by the People’s Council of the commune.
The estimation, provision and statement of funding shall be done by Public Investment Supervision Board in accordance with regulations on management of commune budget and other financial activities of the commune;
+ Funding for propagation, provision of training courses, guidance and review of public supervision of investment of each district and province shall be included in the cost estimate of Vietnamese Fatherland Front Committee of the district/province and covered by the budget of the district/province.
- The estimation and management of funding for supervision and assessment of investment shall comply with applicable regulations.
What are specific costs of supervision and assessment of investment in Vietnam?
Pursuant to Article 89 of the Decree 29/2021/ND-CP stipulating specific costs of supervision and assessment of investment in Vietnam as follows:
- Costs of monitoring investment programs/projects
- Costs of inspection of investment programs/projects
- Costs of assessment of investment programs/projects
- Costs of overall investment supervision and assessment
- Costs of operating the investment supervision and assessment information system
- Costs of public supervision of investment
Best regards!
