Vietnam: Sponsorship, contribution, or trust shall be appraised under simplified procedure

According to the Circular No. 08/2020/TT-BKHĐT of the Ministry of Planning and Investment of Vietnam, a sponsorship, contribution, or trust shall be appraised under simplified procedure, specifically as follows:

1. A sponsorship, contribution, or trust shall be appraised under simplified procedure in any of the following cases:

- A repayable contribution or trust valued at up to VND 10 billion shall be at the discretion and approval of the Minister of Planning and Investment;

- A sponsorship, contribution, or trust valued at up to VND 1 billion shall be at the discretion and approval of the Fund.

2. Appraisal application and process under simplified procedure of a repayable contribution or trust at the discretion and approval of the Minister of Planning and Investment:

- The appraisal application of a repayable contribution or trust includes the documents specified in clause 5 Article 8 hereof;

- The simplified appraisal process:

Step 1: The appraising agency shall verify if the appraisal application is valid as prescribed in point a clause 2 hereof;

Step 2: Appraise

+ If the application is unsatisfactory, 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 and send an appraisal report and appraisal record to the Minister of Planning and Investment.

+ The time limit for appraisal of the sponsorship, contribution, or trust is 10 days after receiving a valid and complete application.

+ Where necessary, the Minister of Planning and Investment shall seek consultation from relevant agencies.

3. Appraisal application and process under simplified procedure of a sponsorship, contribution, or trust at the discretion and approval of the President of Member Assembly:

- The appraisal application of a sponsorship, contribution, or trust includes the documents specified in clause 5 Article 8 hereof;

- The simplified appraisal process:

Step 1: The appraising agency shall verify if the appraisal application is valid as prescribed in point a clause 3 hereof;

Step 2: Appraise

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

+ If the application is valid and complete, the Fund shall carry out the appraisal and complete an appraisal report and appraisal record.

+ The time limit for appraisal of the sponsorship, contribution, or trust is 10 days after receiving a valid and complete application.

+ Where necessary, the President of the Member Assembly shall seek consultation from relevant agencies.

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.

Thuy Tram

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