Budget for industrial encouragement policies is funded by the State budget of Vietnam

Budget for industrial encouragement policies is funded by the State budget of Vietnam (Internet image)

Articles 11 to 13 of Decree 45/2012/ND-CP stipulate the budget for industrial encouragement activities and the budget for applying cleaner industrial production (hereinafter referred to as industrial encouragement budget) include national industrial encouragement budget and local industrial encouragement budget. National industrial encouragement budget is budget used for industrial encouragement activities managed and organized by the Ministry of Industry and Trade. Local industrial encouragement budget is budget managed by provincial People’s Committees, People's Committees of districts or communes, and used for industrial encouragement activities implemented locally.

* National industrial encouragement budget

- National industrial encouragement budget is funded by the following sources:

• Annual state budget allocations under plans;

• Sponsorships and contributions from domestic or overseas organizations and individuals;

• Other lawful capital sources according to law.

- National industrial encouragement budget shall be used for:

• Expenses on national industrial encouragement activities specified in Article 4 of Decree 45/2012/ND-CP;

• Expenses for national industrial encouragement activities.

* Local industrial encouragement budget

- Local industrial encouragement budget is funded by the following sources:

• Annual budget allocations of provincial People’s Committees, People's Committees of districts or communes;

• Sponsorships and contributions of domestic or overseas organizations and individuals;

• Other lawful capital sources according to law.

- Local industrial encouragement budget shall be used for:

• Expenses on industrial encouragement activities organized by localities in accordance with Article 4 of Decree 45/2012/ND-CP;

• Expenses on industrial encouragement activities in localities.

More details can be found in Decree 45/2012/ND-CP, which comes into force from July 5, 2012.

Le Vy

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