Vietnam: Investment in group B and group C emergency projects funded by balanced local government budget

Specifically, according to Clause 4 Article 2 of Decree No. 120/2018/NĐ-CP of Vietnam’s Government amending Article 15 of Decree No. 136/2015/NĐ-CP, procedures for issuing decision on guidelines for investment in group B and group C emergency projects funded by balanced local government budget are specified as follows:

- Regarding the project under the management of a province, the People’s Committee of the province shall decide on the emergency and have the responsibility to:

+ assign a specialized agency or the People’s Committee of the district to carry out a field survey and prepare a report on proposed investment guidelines;

+ assign the Department of Planning and Investment to take charge and cooperate with relevant departments and ministries in appraising the report on proposed investment guidelines and submit it to the People’s Committee of the province for decision on investment guidelines and provision of capital.

+ issue a decision on emergency project investment guidelines, including objectives, scope, total investment, location, progress, capital structure; notify the People's Council of the province in the latest meeting of the decision on guidelines for investment in group B emergency projects and group C key projects under the management of the province.

- Regarding the project funded by the balanced local government budget of the district or commune, according to emergency order or emergency decision issued the competent authority, the President of the People’s Committee of the district or commune shall:

+ assign a specialized agency of the district or commune to prepare a report on proposed investment guidelines;

+ assign the investment management authority or establish an appraisal council responsible for appraising the report on proposed investment guidelines and submit it to the People’s Committee at the same level for decision on investment guidelines and provision of capital;

+ issue a decision on emergency project investment guidelines, including objectives, scope, total investment, location, progress, capital structure; notify the People's Council at the same level in the latest meeting of the decision on guidelines for investment in group B emergency projects and group C key projects under management.

Decree No. 120/2018/NĐ-CP of Vietnam’s Government came into force from September 13, 2018.

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