Principles of Financial Management for VCCI

Kim Linh

10:17, 11/07/2024

On August 31, 2015, the Ministry of Finance issued Circular 133/2015/TT-BTC providing guidance on the financial management mechanism of the Vietnam Chamber of Commerce and Industry.

Principles of Financial Management for VCCI are stipulated as follows:

- VCCI operates under a self-financing policy and is supported by the state budget as specified in Decision No. 71/2011/QD-TTg dated December 20, 2011, by the Prime Minister of the Government of Vietnam on ensuring and supporting funding from the state budget for associations with special characteristics.- Financial management for VCCI is clearly delineated and accounted for in two types of activities:- Trade and investment promotion activities to implement the country's economic expansion and development policies; activities assigned by the State; activities implementing programs, projects, and topics as planned and approved by competent state agencies (hereinafter collectively referred to as promotion activities).- Business and service activities: VCCI must ensure funding and comply with legal regulations on business and service activities.- The VCCI Standing Committee is responsible for developing and issuing the Financial Management Regulations of VCCI based on the provisions of this Circular and the relevant current financial management policy documents.

The state budget supports funding for promotion activities under plans assigned by competent state agencies.

Circular 133/2015/TT-BTC is effective from October 20, 2015.

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