Vietnam: Process for appraisal of a repayable contribution of small and medium enterprises development fund

According to Article 8 of the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, the process and time limit for appraisal of a repayable contribution or trust at the discretion and approval of the Minister of Planning and Investment are specified as follows:

* Process for appraisal of a repayable contribution or trust:

Step 1: The appraising agency shall verify if the appraisal application is valid as prescribed in clause 5 Article 8 of Circular No. 08/2020/TT-BKHĐT;

Step 2: Seek consultation from relevant agencies

After receiving a valid and complete application, the Ministry of Planning and Investment shall forward the application and a consultation request to relevant ministries, agencies, units about the contribution or trust.

Step 3: Appraise

If the application is invalid and incomplete, the appraising agency shall request the Fund to make appropriate modification or completion and take the above-mentioned steps.

If the application is valid and complete, the appraising agency shall carry out the appraisal as follows:

- If the repayable contribution or trust has clear and adequate contents and receives no objection from the agencies from whom the consultation is sought, the appraising agency shall send an appraisal report, an appraisal record, and consultation responses to the Minister for approving the receipt of the repayable contribution or trust;

- If the foregoing method is not reasonably practicable, the appraising agency shall hold an appraisal meeting. Attendees of the appraisal meeting include representatives of the appraising agency, the agencies from whom the consultation is sought and relevant entities, representatives of the SME development fund.

+ If the appraisal meeting ratifies the application for approval for the repayable contribution or trust, the appraising agency shall file an appraisal report and an appraisal record with the Minister of Planning and Investment.

+ If the appraisal meeting does not ratify the application for approval for the repayable contribution or trust, the appraising agency shall request the Fund to make appropriate modification and completion as required and take the above-mentioned steps.

* The time limit for appraisal of the repayable contribution or trust is 20 days after receiving a valid and complete application.

View more details at the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, effective from January 15, 2021.

Le Vy

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