Vietnam: Eligibility requirements for projects to be allocated the plan for construction investment capital funded from the state budget

Vietnam: Eligibility requirements for projects to be allocated the plan for construction investment capital funded from the state budget (Illustrative photo)

Under Circular 85/2014/TT-BTC, to facilitate payment management and control, Ministries, central authorities, and local authorities shall allocate development investment capital plans for each project, ensuring the eligibility requirements for projects to be allocated the plan for construction investment capital funded from the state budget for implementing the Forest Protection and Development Plan in Vietnam as follows:

- For investment capital funded from the central budget for the assistance of investment for forest protection and development projects, all project investment procedures must comply with regulations; new projects commencement or projects adjusting total investment managed by localities with a total investment of 15 billion VND or more must be appraised for funding sources by the Ministry of Planning and Investment and the Ministry of Finance, for projects with a total investment of less than 15 billion VND, the provinces, centrally run cities (referred to as localities) shall conduct funding source appraisal according to current regulations;

- For investment capital funded from local budgets to implement the forest protection and development plan, local authorities shall appraise funding sources before approving the project as per current regulations.

In addition, this Circular stipulates that immediately after receiving the annual plan for development investment capital funded from the state budget approved (or notified) by the Prime Minister of Vietnam and the Ministry of Planning and Investment, Ministries, central authorities, and local authorities shall promptly allocate capital plans for each project according to Form No. 01/PBKH attached to this Circular; the time for allocating capital plans must comply with the regulations of the Prime Minister of Vietnam and the Minister of Planning and Investment.

Details are available at Circular 85/2014/TT-BTC effective from August 15, 2014.

Ty Na

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