Regulation on approval for sponsorships, contributions, trusts by small and medium enterprises development fund in Vietnam

According to the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, approval for sponsorships, contributions, trusts by small and medium enterprises (SMEs) development fund is prescribed as follows:

1. The approval for a sponsorship, contribution, or trust following the appraisal shall be carried out as follows:

- The Minister of Planning and Investment shall have discretion to approve the foreign repayable contribution or trust. If the repayable contribution or trust is ineligible for receipt requirements, the Ministry of Planning and Investment shall send such a notice to the contributor or trustor.

- The President of the Member Assembly shall have discretion to approve the domestic sponsorship, contribution, or trust. If the sponsorship, contribution, or trust is ineligible for receipt requirements, the Fund shall send such a notice to the sponsor, contributor or trustor.

2. The document or decision on approval for the sponsorship, contribution, or trust shall at least contain:

- Name of the sponsorship, contribution, or trust;

- The recipient of the sponsorship, contribution, or trust: The SME development fund; name of the sponsor, contributor, or trustor (corporate or individual);

- Objectives and expected primary results of the sponsorship, contribution, or trust;

- Time and place;

- Total value and capital structure of the sponsorship, contribution, or trust.

3. The document or decision on approval for the sponsorship, contribution, or trust (original) and specific documentation bearing the fan stamp and relevant documents shall be sent to relevant agencies.

View more details at the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, effective from January 15, 2021.

Thuy Tram

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