Latest procedures for implementing support disbursement for enterprises by the Investment Support Fund in Vietnam

Latest procedures for implementing support disbursement for enterprises by the Investment Support Fund in Vietnam​ (Image from the Internet)

On December 31, 2024, the Government of Vietnam issued Decree 182/2024/ND-CP regarding the establishment, management, and use of the Investment Support Fund.

Latest procedures for implementing support disbursement for enterprises by the Investment Support Fund in Vietnam

According to Clause 2, Article 39 of Decree 182/2024/ND-CP, the procedures for implementing support disbursement for enterprises by the Investment Support Fund in Vietnam are carried out as follows:

- Based on the Government of Vietnam's approval document on the total support cost, the Fund Operating Agency sends notifications about the support limit to provincial People's Committees proposing support costs for enterprises as per Point a, Clause 2, Article 29 of Decree 182/2024/ND-CP and concurrently sends the support limit notification to the State Treasury;

“Article 29. Content of the Evaluation for Support Cost Proposal

...

2. Receiving and Processing Agency of Support Cost Procedure Dossiers:

a) For enterprises with ongoing production and business projects, submit dossiers for support cost procedures to the Management Board of Economic Zones, Industrial Parks, High-Tech Zones (for projects in Economic Zones, Industrial Parks, High-Tech Zones) or the Provincial Department of Planning and Investment (for projects outside Economic Zones, Industrial Parks, High-Tech Zones). The receiving agency evaluates the enterprise's support cost proposal and reports to the provincial People's Committee for review and decision;”

- Based on the approved support limit notification, the provincial People's Committee checks, cross-references documents, and carries out procedures in accordance with legal regulations on the state budget, then issues a document deciding on investment support for eligible enterprises, simultaneously sending the investment support decision document to the Investment Support Fund;

- Based on the support limit for each locality and the investment support decision document for enterprises, the Investment Support Fund prepares the payment dossier and sends it to the State Treasury at the transaction location to execute the support payment as per the regulations;

- The State Treasury disburses support costs to enterprises within 3 working days from the complete reception of the documents as required;

- Documents sent to the State Treasury for enterprise support payment from the state budget include: The approved local support limit notification for the year (original); The enterprise investment support decision; The state budget withdrawal certificate (Form number 16a1 issued with Decree 11/2020/ND-CP) (2 original copies).

For cases where dossiers are sent through the State Treasury's Public Service Portal, the constituent documents must be digitally signed according to the transaction method regulations at the State Treasury in accordance with Decree 11/2020/ND-CP;

- For cases specified in Point b, Clause 2, Article 29 of Decree 182/2024/ND-CP, the Fund's executing agency checks, cross-references documents, carries out procedures in accordance with laws on state budget, and submits to the Fund Management Council for issuance of investment support decision documents for eligible enterprises, and concurrently prepares a payment dossier sent to the State Treasury for enterprise investment support payment.

“Article 29. Content of the Evaluation for Support Cost Proposal

...

2. Receiving and Processing Agency of Support Cost Procedure Dossiers:

...

b) For enterprises not yet operational and enterprises eligible for initial investment cost support as stipulated in Section 2, Chapter III of this Decree, the dossier for support cost procedures should be submitted to the Ministry of Planning and Investment. The Fund's executing agency receives, processes the dossiers, and takes the lead in evaluating the enterprise’s support cost proposals.”

Refer to Decree 182/2024/ND-CP effective from December 31, 2024.

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