Principles on the use of funds for economic activities of inland waterway transport of Vietnam

According to Article 3 of the Circular No. 113/2020/TT-BTC of the Ministry of Finance of Vietnam, the State budget funds for regular expenditures on economic activities of inland waterway transport include: recurring expenses for economic activities of national inland waterway navigation allocated from the central budget; recurring expenses for economic activities of local inland waterway transport allocated from the local budget. Principles on management and use of funds are specified as follows:

- Agencies, units, organizations and individuals using recurrent expenditures for economic activities of waterway transport must strictly follow the contents and plans for management and maintenance of inland waterway transport infrastructure assets that have been approved by the competent authority; manage and use funds properly, economically and effectively; subject to inspection and control by competent authorities; make payment and finalization of used funds, and publicize the budget according to current regulations.

- The Ministry of Transport of Vietnam and provincial-level People's Committees shall decide or delegate authority to their affiliated management agencies to decide on the application of the form of maintenance of inland waterway transport infrastructure assets for each operation for maintaining inland waterway transport infrastructure assets in accordance with the provisions of Clause 3 Article 8 of the Decree No. 45/2018/NĐ-CP to ensure thrift and efficiency.

- The organization of management and maintenance of inland waterway transport infrastructure assets must comply with the guiding documents of the Ministry of Transport of Vietnam and other relevant regulations (if any).

More details at the Circular No. 113/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from February 15, 2021.

Le Vy

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