Vietnam: Scope and subjects of funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget

23:52, 09/07/2024

On January 30, 2007, the Ministry of Finance of Vietnam issued Circular 08/2007/TT-BTC guiding financial policies and customs procedures applicable in the Nghi Son Economic Zone, Thanh Hoa Province.

Infrastructure development of Nghi Son Economic Zone, Circular 08/2007/TT-BTC

Vietnam: Scope and subjects of funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget (Illustration)

Circular 08/2007/TT-BTC stipulates the scope and subjects of funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget in Vietnam as follows:

- The State budget shall fund the investment in building socio-technical infrastructures, facilities, and public amenities serving the Nghi Son Economic Zone according to the targeted programs allocated under the estimate approved by competent authorities. The State budget only funds the construction of the general infrastructure of the Nghi Son Economic Zone, not the separate infrastructure of each functional area in the Nghi Son Economic Zone, except for the funding for investment in building concentrated sewage and waste treatment facilities of functional areas and the compensation for land clearance in functional areas an enterprises resettlement of families whose land is taken.

- Funding for investment in the infrastructure construction at Nghi Son Economic Zone under Thanh Hoa Province from the state budget must comply with the project, under the planning approved by competent authorities.

- The management board of the Nghi Son Economic Zone is the focal point of planning of the locality and may separate the fundamental construction capital from the State budget to build the infrastructure of the Nghi Son Economic Zone; is the investor that directly manages the projects of investment in building infrastructure and may invest in the building from the State budget within the Nghi Son Economic Zone under current provisions on construction investment management.

More details may be found in Circular 08/2007/TT-BTC effective on March 3, 2007.

Ty Na

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