Vietnam: Guidance on budget advance payment for multi-year industrial encouragement schemes

Vietnam: Guidance on budget advance payment for multi-year industrial encouragement schemes (Illustrative Image)

According to Circular 36/2013/TT-BCT, the budget advance payment for the multi-year industrial encouragement schemes in Vietnam is specified as follows:

1. The assistance in interest loan rate shall be provided for rural industrial facilities causing environmental pollution to relocate into industrial parks and clusters: scheme implementation contract; facility acceptance record as per Form No. 5a Appendix 1 of Circular 36/2013/TT-BCT; report on completed volume and implementation budget as per Form No. 3b of this Circular; a valid copy of the credit agreement with the bank regarding the loan for basic construction investment, purchase of machinery and equipment for the rural industrial facility; documents proving interest loan payments to the bank in the first two years as a basis for the advance; valid copies of contracts and contract liquidation with the contractor, purchase of machinery and equipment for the rural industrial facility.

2. Other schemes

- Initial advance payment is made under the rate and advance documentation as specified in Clauses 1 and 2, Article 13 of Circular 36/2013/TT-BCT corresponding to each type of scheme.

- Subsequent advance payment is made under the implementation progress, the approved estimate, and the regulations in the scheme implementation contract.

- Documentation for final advance payment is prepared as stipulated in Article 14 of this Circular corresponding to each type of scheme.

More details can be found in Circular 36/2013/TT-BCT effective from February 10, 2014.

Thuy Tram

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