Decision 245: Priority allocation of State Budget for nuclear energy projects in Vietnam

Decision 245: Priority allocation of State Budget for nuclear energy projects in Vietnam (Image from Internet)

On February 5, 2025, the Prime Minister of the Government of Vietnam issued Decision 245/QD-TTg approving the Development and Application Planning of Atomic Energy for the period up to 2030, with a vision to 2050.

Decision 245: Priority allocation of State Budget for nuclear energy projects in Vietnam

According to the Decision 245/QD-TTg in 2025, for investment, financial, and capital mobilization issues and solutions in the development and application planning of atomic energy for the period up to 2030, with a vision to 2050, the Prime Minister of the Government of Vietnam has provided guidance as follows:

- Priority allocation of the state budget for regular expenditures to implement the contents and tasks of the Planning, performed on the basis of the central budget balancing ability, criteria, and norms stipulated by existing legal documents to allocate funding sources, ensuring compliance with the law on the budget and other related legal documents.

- Research and perfect financial mechanisms and capital mobilization for development investment, application of atomic energy;

- Promote private investment in, diversify capital sources, and forms of capital mobilization; effectively attract domestic and foreign capital sources into research, development, application, human resource training, ensuring nuclear safety and security in the atomic energy field;

- Priority allocation of the state budget in accordance with the law on public investment and other related legal regulations for projects on the development and application of atomic energy;

- Priority allocation of funds for important programs/projects, priority; development, warning network, and environmental radiation monitoring;

- The state shall invest and have appropriate incentive mechanisms to encourage businesses, research institutions, and applications to participate in investing in specialized laboratories.

Regulations on the organization of State Budget expenditure in Vietnam

The organization of state budget expenditure is regulated in Article 56 of the State Budget Law 2015 as follows:

- The expenditure tasks arranged in the estimate are ensured with funding according to the correct implementation progress and within the assigned estimate.

- For investment projects and other urgent expenditure tasks, funds and budgets are advanced to perform tasks according to signed contracts. The advance capital level is based on the contract value and within the scope of the assigned budget estimate and in accordance with relevant laws; the advanced funds and budgets are recovered upon payment of completed volumes and tasks.

- The lower-level budget is advanced from the upper-level budget to perform expenditure tasks according to the assigned budget estimate when necessary.

- Based on the assigned budget estimate and task execution requirements:

+ The head of the budgeting unit decides on expenditures sent to the State Treasury for implementation;

+ The lower-level finance agency withdraws the supplementary amount from the upper-level budget at the State Treasury.

- The State Treasury checks the legality of necessary documents according to legal regulations and performs budget expenditure when all conditions specified in Clause 2, Article 12 of the State Budget Law 2015 are met by direct payment or advance according to the provisions of Clause 2 and Clause 3, Article 56 of the State Budget Law 2015.

- The head of the State Treasury refuses payments and disbursements of expenses not meeting the conditions prescribed in Clause 2, Article 12 of the State Budget Law 2015 and is responsible for his/her decisions according to legal regulations.

More details can be found in Decision 245/QD-TTg issued on February 5, 2025.

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