Procedure for Advance Payment of Funding to Support the National Investment Promotion Program

According to the current regulations and based on the allocated budget estimates, the Ministry of Planning and Investment shall approve the program and allocate detailed funding to implement the national investment promotion program for each unit in charge, as stipulated in Articles 5 and 6 of Circular 31/2013/TT-BTC on the principle that the total support funding for implementing the program proposals shall not exceed the approved estimate.

Based on the annual approval decision of the national investment promotion program by the Minister of Planning and Investment within the notified state budget plan, the leading unit shall submit a detailed estimate approved by the program's supervising agency or the higher authority along with the dossier requesting advance funding to the Ministry of Finance (Department of Corporate Finance).

Illustrative image (source: internet)

The dossier requesting advance funding includes the following documents:

- Official Dispatch requesting advance funding;- Approval decision of the program by the competent authority;- Detailed estimate of the program approved by the competent authority;- Schedule and implementation time of the programs as planned;- Other documents related to the implementation of the program;

Regarding the level of advance funding: The maximum advance is 70% of the detailed estimate approved by the competent authority and verified by the Ministry of Finance.

Note on the review time for advance funding: Within 10 working days from the receipt of the complete dossier from the leading unit, the Ministry of Finance shall review and allocate the support funding for the leading unit to implement as approved.

For further regulations, see Circular 31/2013/TT-BTC, effective from May 5, 2013.

Thu Ba

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