Vietnam: Approaches to conversion of construction investment capital
Recently, the Ministry of Construction of Vietnam has issued Circular No. 18/2019/TT-BXD providing instructions on conversion of construction investment capital.
Article table of contents
According to Article 5 of Circular No. 18/2019/TT-BXD of the Ministry of Construction of Vietnam, construction investment capital in investment and construction projects funded by the state budget or extra-budgetary capital for valuation of assets newly acquired from investment under the provisions of clause 1 of Article 32 of Decree No. 68/2019/ND-CP of Vietnam’s Government shall be converted according to the following methods:
a. Conversion factor approach.
b. Construction index approach.
c. Estimation of costs based on completed workloads and construction costs determined at the date of transfer and operation of an investment and construction project.
d. Combination of the approaches referred to in a, b and c of this clause.
Project owners must refer to manners of project implementation and types of value of construction contracts to choose appropriate conversion approaches out of those specified in a, b, c and d of clause 1 of this Article. Details about approaches for conversion of construction investment capital are given in Appendix No. 1 hereto.
View more details at Circular No. 18/2019/TT-BXD of the Ministry of Construction of Vietnam, effective from February 15, 2020.
Thu Ba
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