03 Principles for Managing Expenditure on the National Investment Promotion Program

The financial management applicable to the national investment promotion projects approved and implemented according to the Regulations on the formulation and implementation of the national investment promotion program issued with Decision 26/2012/QD-TTg dated June 8, 2012 (hereinafter referred to as the program) shall be implemented following the three principles specified in Article 4 of the Circular 31/2013/TT-BTC, as follows:

Illustration (source: internet)

- The leading unit must use the state budget funds appropriately, effectively, and in conformity with current spending standards and policies, as well as the spending levels for program content as stipulated in this Circular.- For expenditure items that do not yet have guiding policies, based on the contract, invoices, actual, reasonable, and legal expenses in accordance with the law, the leading unit must be responsible for spending decisions as well as the accuracy and truthfulness of the expenses and accompanying documents.- For expenditure items required to undergo bidding, the provisions of the Bidding Law and related guiding documents must be applied.

The leading unit of the program includes Ministries, sectors, and People's Committees of provinces and centrally-run cities, Management Boards of economic zones, industrial zones, export processing zones, and high-tech zones that have national investment promotion projects approved by competent authorities.

It should be noted that the funding to implement the national investment promotion program is allocated from the state budget for national investment promotion content approved annually by the National Assembly, revenue sources, and other legal sponsorships (if any).

See more regulations in Circular 31/2013/TT-BTC effective from May 5, 2013.

Thu Ba

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