Vietnam: Process of executing the project on building of ship from September 15

13:57, 28/07/2020

On July 23, 2020, the Government of Vietnam issued the Decree No. 86/2020/NĐ-CP providing amendments to Decree No. 171/2016/NĐ-CP dated December 27, 2016 on registration, deregistration, sale and purchase, and building of ships.

Thực hiện đóng mới tàu biển sử dụng vốn nhà nước, Nghị định 86/2020/NĐ-CP

According to Clause 19 Article 1 of Decree No. 86/2020/NĐ-CP of Vietnam’s Government amending Clause 1 Article 25 of Decree No. 171/2016/NĐ-CP dated December 27, 2016, the state-funded shipbuilding project shall be executed according to the following procedures:

1. Approve the shipbuilding policy;

2. Select and determine price and source of funding for shipbuilding; estimate other relevant shipbuilding costs;

3. Prepare, appraise and approve the shipbuilding project. The shipbuilding project includes contents about the necessity of the investment, type, quantity and basic specifications of the ship, estimated price and funding source for shipbuilding, shipbuilding method, operation method, economic efficiency and other necessary contents;

4. Make the shipbuilding decision;

5. Complete shipbuilding procedures.

Moreover, according to Clause 20 Article 1 of Decree No. 86/2020/NĐ-CP of Vietnam’s Government amending Clause 1 Article 26 of Decree No. 171/2016/NĐ-CP, with respect of state-funded ship purchase, sale or building projects, the power to give approval for policies, projects or decisions on ship sale, purchase or building shall be carried out in accordance with regulations of the law on management and use of state funding invested in business activities of enterprises, law on investment and law on public investment, and other regulations laid down in the enterprise’s charter.

View more details at Decree No. 86/2020/NĐ-CP of Vietnam’s Government, effective from September 15, 2020.

Le Vy

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