Principles of Construction Investment Cost Management according to New Regulations
Article 3 Decree 10/2021/ND-CP stipulates the principles of construction investment cost management as follows:
Construction investment cost management must ensure the principles stipulated in Article 132 of the Construction Law and Clause 50 Article 1 of the Law amending and supplementing several articles of the Construction Law, suitable for each capital source to invest in construction, investment form, implementation method, project implementation plan, and relevant legal regulations.
Clearly stipulate and properly implement the rights and responsibilities of state management agencies, investment decision-makers, construction-specialized agencies; the rights and obligations of investors, organizations, and individuals related to construction investment cost management, in accordance with the construction investment implementation process stipulated in Clause 1 Article 50 of the Construction Law.
The State shall issue, guide, and inspect the implementation of legal regulations on construction investment cost management; stipulate the necessary tools for investors and related entities to apply and refer to in the management of construction investment costs, including: construction norms, construction work prices, construction investment capital rates, construction price indices; construction material prices, construction machine and equipment prices, construction labor unit prices; information and data on construction investment costs of projects and construction works; methods for determining and managing construction investment costs, volume measurement, cost control, construction norms, construction work prices, construction investment capital rates, construction price indices.
Specific construction projects and works shall apply the regulations in the Decree stipulating certain details on the management of construction investment projects and special mechanisms as stipulated by the Government of Vietnam, or decisions of the Prime Minister of the Government of Vietnam, to determine and manage construction investment costs.
For construction projects and works serving national defense and security, such as the authority and process of appraising the total construction investment in the Construction Investment Feasibility Study Report, the Economic-Technical Construction Investment Report, the authority, process of appraising, and approving construction budget estimates in design implementation after basic design are carried out according to regulations of the Minister of National Defense and the Minister of Public Security.
Projects and construction works under national target programs shall apply the principles and methods for determining construction investment costs as stipulated in this Decree and relevant laws, suitable for the specific characteristics and implementation conditions of the works under the Program.
Construction investment projects and works abroad shall manage construction investment according to the principles stipulated in the Decree detailing certain contents on the management of construction investment projects.
Sincerely!
