Allowed to amend the decision on approval for the sponsorship of small and medium enterprises development fund in Vietnam

17:05, 18/11/2020

This is a notable content of the Circular No. 08/2020/TT-BKHĐT on guidelines for receipt of sponsorships, contributions and trusts by small and medium enterprises (SMEs) development fund, issued by the Ministry of Planning and Investment of Vietnam on November 13, 2020.

Documentation on contribution of small and medium enterprises development fund in Vietnam must be made public

Specifically, according to Article 13 of the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, amendments to documentation or the decision on approval for the sponsorship, contribution, or trust are prescribed as follows:

- As for a repayable contribution or trust at the discretion and approval of the Minister of Planning and Investment:

+ The amendments shall be made upon any change of the long-term (if any) and short-term objectives, methods of initiation, management and use, expected primary results and place of the approved repayable contribution or trust or any amendment to the schedule leads to 24 months behind the approved schedule shall be reported to the Minister of Planning and Investment for consideration.

+ No later than 10 days after receiving such a request for amendments, the appraising agency shall request the Minister of Planning and Investment to decide the amendments to the repayable contribution or trust.

- As for a sponsorship, contribution, or trust at the discretion and approval of the President of Member Assembly:

+ Regarding any amendment to the sponsorship, contribution, or trust which makes it falling under the discretion and approval of the Minister of Planning and Investment, the appraising agency shall cooperate with the Fund in reporting it to the Minister of Planning and Investment for consideration.

+ Any amendments not specified in point a clause 2 hereof shall be at the discretion of the President of Member Assembly.

+ No later than 10 business days after approving an amendment to the sponsorship, contribution, or trust, the President of Member Assembly shall make a decision on an amendment to the sponsorship, contribution, or trust.

View more details at the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, effective from January 15, 2021.

Le Vy

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