Regulations on the allocation period of capital for the implementation of public investment projects in Vietnam from January 1, 2025

Regulations on the allocation period of capital for the implementation of public investment projects in Vietnam from January 1, 2025​ (Image from Internet)

Regulations on the allocation period of capital for the implementation of public investment projects in Vietnam from January 1, 2025

Article 57 of the Law on Public Investment 2024 regulates the capital allocation time for public investment projects in Vietnam from January 1, 2025, as follows:

(1) The time for capital allocation for project execution is calculated continuously, from the first year plan in which the project is allocated capital for execution until the year of acceptance, completion of the project, handover, and put into use, excluding the time for capital allocation for investment preparation tasks and project settlement.

(2) The capital allocation time for projects is specified as follows:

- National target programs, significant national projects carried out under a resolution of the National Assembly;

- Group A projects not exceeding 06 years;

- Group B projects not exceeding 04 years;

- Group C projects not exceeding 03 years.

(3) If the capital allocation timeline conditions stipulated in (3) are not met, the extension of the capital allocation time is as follows:

(i) For national target programs and significant national projects, the Government of Vietnam reports to the National Assembly for consideration and decision;

(ii) For projects using central budget funds, the competent authority that decides the project's investment policy decides to extend the time for capital allocation for Group A, Group B, and Group C projects not exceeding 01 year, for Group A projects with a total investment from 10,000 billion VND to less than 30,000 billion VND not exceeding 02 years;

(iii) For projects using local budget funds, the chairman of the People's Committee at each level decides to extend the time for capital allocation for Group A, Group B, and Group C projects not exceeding 01 year, for Group A projects with a total investment from 10,000 billion VND to less than 30,000 billion VND not exceeding 02 years;

(iv) If the project has been extended as per the regulations in (ii) and requires further extension, the project management agency shall review responsibility, report to the Prime Minister of the Government of Vietnam for consideration and decision on extending the time for central budget capital allocation; the People's Committee shall review responsibility, report to the People's Council at the same level for consideration and decision on extending the time for local budget capital allocation;

(v) For projects where the investment policy is not decided under Clause 6, Article 19 of the Law on Public Investment 2024, the investment decision-making authority shall decide on extending the period for capital allocation as stipulated in (ii) and (iii).

(4) For projects using legal revenue sources from state agencies, public service providers dedicated to investment, the time for capital allocation for projects is carried out according to the regulations in (2).

In cases where it is necessary to extend the time for capital allocation for project execution, the investment policy decision-making authority shall decide on the extension and be responsible for its decision.

Sectors and fields using public investment capital in Vietnam from January 1, 2025

According to Clause 1, Article 7 of the Law on Public Investment 2024, the sectors and fields using public investment capital in Vietnam include:

- National Defense;

- Security and Public Order, Social Safety;

- Education, Training and Vocational Education;

- Science, Technology;

- Health, Population, and Family;

- Culture, Information;

- Broadcasting, Television, Information Agencies;

- Physical Education, Sports;

- Environmental Protection;

- Economic Activities;

- Activities of State Agencies, Public Service Providers, Political Organizations, and Socio-political Organizations;

- Social Security;

- Other sectors and fields as specified by law.

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