Legal Counselling

Vietnam: 04 methods to determine the total construction investment of projects funded by state budget

17:11, 17/08/2019

Recently, the Government of Vietnam has issued Decree No. 68/2019/NĐ-CP on construction cost management.

Total construction investment of projects funded by state budget and external-source state capital and PPP projects is determined using one of the methods specified in Decree No. 68/2019/NĐ-CP of Vietnam’s Government, specifically as follows:

phuong phap xac dinh tong muc dau tu xay dung, Nghi dinh 68/2019/NĐ-CP

- Determination according to construction quantity based on fundamental design, plans for project execution and implementation of oriented construction measure, other requirements of the project, construction norms, prices and relevant policies;

- Determination from data about costs of similar works;

- Determination according to investment rate;

- Combining the methods prescribed above.

Note:

- The methods which are determination from data about costs of similar works and determination according to investment rate shall be only used for common construction works.

- Projects executed under engineering, procurement and construction contracts (EPC for short); engineering and construction contracts (EC for short); engineering and procurement contracts (EP for short), the total investment shall be determined according to the methods specified in Point a Clause 2 of this Clause in combination with other methods.

- Methods for determining total investment shall be adopted following guidelines of the Minister of Construction.

View full text at Decree No. 68/2019/NĐ-CP of Vietnam’s Government, effective from October 01, 2019.

Thu Ba

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