Vietnam: Process of ship purchase with state funding

According to Clause 17 Article 1 of Decree No. 86/2020/NĐ-CP of Vietnam’s Government amending Clause 1 Article 23 of Decree No. 171/2016/NĐ-CP dated December 27, 2016, the purchase of ship with state funding shall be carried out according to the following procedures:

1. Approve the ship purchase policy;

2. Select the ship, and estimate the purchase price and other costs of ship purchase;

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

4. Make decision on ship purchase;

5. Complete ship purchase procedures.

Besides, according to Clause 18 Article 1 of Decree No. 86/2020/NĐ-CP of Vietnam’s Government amending Clause 1 Article 24 of Decree No. 171/2016/NĐ-CP, the selling of ship with state funding shall be carried out according to the following procedures:

1. Approve the ship sale policy;

2. Determine the starting price and estimated costs related to the ship selling transaction;

3. Prepare, appraise and approve the ship sale project. The ship sale project includes contents about the necessity to sell the ship, quantity and basic specifications of ship, estimated selling price, selling method and other necessary contents;

4. Make decision to sell the ship;

5. Complete ship sale procedures.

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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