Establishment of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam

On July 16, 2024, the Prime Minister of the Government of Vietnam issued Decision 656/QD-TTg to establish the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam.

Establishment of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam

The Prime Minister decided to establish the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam (hereinafter referred to as the Fund) to receive, manage, and use voluntary financial contributions (including cash and bank transfers) from organizations, individuals within the country, abroad, and other legitimate sources for the activities of removing temporary and dilapidated houses for poor and nearly-poor households as per legal regulations.

The Fund is managed by the Ministry of Finance. The English transaction name of the Fund is: Vietnam National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households.

This is a state financial fund outside the budget, operating under the Decision of the Prime Minister of the Government of Vietnam.

The Fund has a legal entity status; it can open trading accounts at the State Treasury and commercial banks to receive monetary contributions, sponsorships, and support from organizations and individuals inside and outside the country.

Additionally, the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam has the function of managing and coordinating the financial resources of the Fund to sponsor and support the activities of removing temporary and dilapidated houses for poor and nearly-poor households that have not been supported by the state budget as per legal regulations.

Regarding the operational principles of the Fund:

The activities of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam must comply with the following principles:

- The Fund operates not for profit, uses capital for the right purposes and in accordance with legal regulations, ensures transparency, efficiency, and cost-effectiveness.

- The Fund is subject to inspections, audits of its financial activities by state financial management agencies and the State Audit; supervision by the Vietnam Fatherland Front and the community.

Regarding the duties of the Fund:

The duties of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam include:

- Receiving, managing, and using voluntary financial contributions (including cash or bank transfers) from domestic and foreign organizations and individuals, and other legitimate sources to support and finance the activities of removing temporary and dilapidated houses for poor and nearly-poor households that have not been supported by the state budget as per legal regulations.

- Cooperating with related agencies and organizations in mobilizing donations and sponsorships for the Fund to support and finance the activities of removing temporary and dilapidated houses for poor and nearly-poor households as per legal regulations.

Regarding the revenue and expenditure tasks of the Fund:

- The revenue of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam includes:

+ Voluntary monetary contributions from domestic and foreign agencies, units, organizations, and individuals; international aid;

+ Interest earned from the Fund’s deposits;

+ Other legitimate revenues (if any).

- The expenditure tasks of the National Fund for United for Demolition of Makeshift and Dilapidated Houses for Poor and Near-Poor Households in Vietnam: To support and finance the activities of removing temporary and dilapidated houses for poor and nearly-poor households as per legal regulations.

More details can be found in Decision 656/QD-TTg dated July 16, 2024.

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