Vietnam: Funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget

Vietnam: Funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget (Illustrative image)

Under Circular 08/2007/TT-BTC, the funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget is specified as follows:

- Annually, based on the socio-economic infrastructure investment projects approved by the competent authorities, the progress of the project implementation, the central budget will provide targeted supplementary funds to Thanh Hoa Province's budget to invest in the infrastructure works of Nghi Son Economic Zone according to the provisions of the Law on the state budget.

- The central budget's targeted assistance funds for Thanh Hoa Province's budget to invest in the socio-economic infrastructure works, and the public service and utility works of Nghi Son Economic Zone are clearly stated in the state budget estimates delivered to Thanh Hoa Province. Along with the funding from the central budget, annually Thanh Hoa Province arranges local budget estimates to invest in the socio-economic infrastructure, and the public service and utility works of Nghi Son Economic Zone as stipulated in point a of this clause.

Additionally, the revenues generated in the area are to be submitted to the state budget. The decentralization of revenue sources between the central and local budgets follows the current legal provisions.

Moreover, the funding for the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget is managed and used according to the regulations on basic construction investment management, the Law on the state budget, and the current guiding documents. Making estimates shall follow provisions of the Law on the state budget.

More details may be found in Circular 08/2007/TT-BTC effective from March 3, 2007.

Ty Na

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