Legal Counselling

Vietnam: Responsibilities of state investment capital management agencies in PPP projects

15:25, 31/12/2018

Circular No. 120/2018/TT-BTC was issued by the Ministry of Finance of Vietnam, prescribing the return on equity of investors, the state contribution to projects and financial statement of completed PPP work items of projects on construction of Eastern Sections of the North – South Expressway during 2017 – 2020.

According to Circular No. 120/2018/TT-BTC of the Ministry of Finance of Vietnam, monitoring payment of State contribution used for covering partial construction costs, the State funding managing agency shall provide the State Treasury where its account is opened with the following legal documents:

- The project contract and its appendixes (if any);

- The public investment plan allocated for executing the PPP project by a competent authority;

- The report on completed workload requesting payment according to the project contract made by the investor and certified by the State funding managing agency (Appendix No. 01);

- The written request for payment of state contribution to the PPP project made by the State funding managing agency (Appendix No. 02);

- Remittance vouchers made according the Ministry of Finance’s regulations on accounting vouchers;

- The document made by the State funding managing agency to certify the full disbursement of the investor’s equity and the investor’s eligibility to apply for disbursement of the borrowed capital under terms and conditions of the project contract.

View details at Circular No. 120/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from January 23, 2019.

- Thanh Lam -

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