Principles for the Management of Projects Utilizing Foreign Capital Sources

08:06, 11/07/2024

Circular 72/2017/TT-BTC was issued by the Ministry of Finance on July 17, 2017, to specifically stipulate the principles for managing projects using foreign capital sources.

Circular 72 stipulates that when managing a project utilizing foreign capital sources, the following principles must be ensured:

- The project owner and the Project Management Board must manage and use the revenues from project management activities conformable to the law, ensuring proper and efficient use of funds for the right purposes.- The payment authorities are responsible for promptly and fully controlling and disbursing management costs to the project owners and the Project Management Board as stipulated in this Circular.- Financial agencies at all levels, within their assigned functions and duties, are responsible for inspecting and guiding the project owners and the Project Management Board in organizing and implementing as per the provisions of this Circular.- The superior authority of the project owner and the Project Management Board shall direct the project owners and the Project Management Board to manage and use the revenues from project management activities in a rational, economical, effective, democratic, open, and transparent manner; complying with the state policies on financial, investment, and construction management, and the provisions of Circular 72.

See details in Circular 72/2017/TT-BTC, effective from September 15, 2017.

-Thao Uyen-

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