What are regulations on the use of financial resources of district-level public vocational education centers in Vietnam

What are regulations on the use of financial resources of district-level public vocational education centers in Vietnam in Vietnam (Illustration)

Circular 05/2020/TT-BLDTBXH regulates the financial resources of district-level public vocational education centers in Vietnam which include:

- Funding provided by the state budget.

- Revenues from the Center’s professional activities, including: Tuition fees and recruitment service fees paid by learners; Revenues from training cooperation activities, science, technology, production, business, services, and other professional activities; Profits shared from joint ventures and associations.

- Funding for orders and tasks assigned by the State.

- Loans, aid, and sponsorships as prescribed by law.

- Other legal revenues as prescribed by law.

Thus, the use of financial resources of district-level public vocational education centers in Vietnam is regulated as follows:

1. Regular expenditures, including:

- Expenditures for training activities according to the assigned functions and tasks;

- Expenditures for production, business, and service activities of the Center (including repayment of capital, interest payments as prescribed by law).

2. Non-regular expenditures, including:

- Expenditures for implementing national target programs; public investment programs; other programs and projects;

- Expenditures for implementing training programs, fostering teachers, management staff, and employees;

- Counterpart funding for implementing foreign-funded projects as prescribed;

- Expenditures for implementing ad-hoc tasks assigned by competent authorities;

- Expenditures for construction of physical facilities, procurement of assets, equipment; implementation of other investment projects as prescribed by the State;

- Other expenditures as prescribed by law.

More details can be found in Circular 05/2020/TT-BLDTBXH which comes into force in Vietnam from  October 01, 2020.

Ty Na

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