Vietnam: Appraisal of sponsorship of small and medium enterprises development fund is carried out in 3 steps

According to Article 8 the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, the process for appraisal of sponsorship, contribution, or trust at the discretion and approval of the President of Member Assembly is guided as follows:

* Process for appraisal of a sponsorship, contribution, or trust:

Step 1: The Fund shall verify if the appraisal application is valid as prescribed in clause 5 Article 8 hereof;

Step 2: Seek consultation from relevant agencies

After receiving a valid and complete application, the Fund shall forward the application and a consultation request to relevant affiliates of the Ministry of Planning and Investment about the sponsorship, contribution, or trust.

Step 3: Appraise

If the application is invalid or incomplete, the Fund shall make appropriate modification or completion and take the above-mentioned steps.

If the application is valid and complete, the Fund shall carry out the appraisal as follows:

- If the sponsorship, contribution, or trust has clear and adequate contents and receives no objection from the agencies from whom the consultation is sought, the Fund shall send an appraisal report, an appraisal record, and consultation responses to seek approval for the receipt of the sponsorship, contribution, or trust;

- If the foregoing method is not reasonably practicable, the Fund shall hold an appraisal meeting, composed of representatives of the Fund, agencies from whom the consultation is sought and relevant entities. The Fund shall complete the appraisal report and appraisal record.

** The time limit for appraisal of the sponsorship, contribution, or trust is 20 days after receiving a valid and complete application.

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.

Le Vy

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