Content of reports on recommendation of policies for investment in group-B public investment projects in Vietnam

Content of reports on recommendation of policies for investment in group-B public investment projects in Vietnam (Internet image)

1. Criteria for classification of group-B investment projects in Vietnam

The criteria for classifying Group B projects according to Article 9 of the Law on Public Investment 2019 are as follows:

- Those projects in the fields specified in clause 2 of Article 8 of the Law on Public Investment 2019 with total investment worth from 120 billion dong to less than 2,300 billion dong:

+ Transport, including bridges, seaports, inland ports, airports, railways and national highways;

+ Electric power industry;

+ Oil and gas production;

+ Chemical, fertilizer and cement production;

+ Machine manufacturing and metallurgy;

+ Mining and mineral processing;

+ Construction of residential buildings;

- Those projects in the fields specified in clause 3 of Article 8 of the Law on Public Investment 2019 with the gross investment worth from 80 billion dong to less than 1,500 billion dong.

+ Transport, except those projects specified in point a of clause 2 of of the Law on Public Investment 2019;

+ Water resources and irrigation;

+ Water supply and drainage, waste treatment and construction of other technical infrastructure;

+ Electrical engineering;

+ Production of communication and electronic equipment;

+ Pharmaceutical chemistry;

+ Production of materials, except those projects specified in point d of clause 2 of the Law on Public Investment 2019;

+ Mechanical engineering projects, except those projects specified in point dd of clause 2 of the Law on Public Investment 2019;

+ Post and telecommunications;

- Those projects in the fields specified in clause 4 of Article 8 of the Law on Public Investment 2019 with the gross investment worth from 60 billion dong to less than 1,000 billion dong.

+ Agricultural, forestry and aquacultural production;

+ National parks and nature reserves;

+ Technical infrastructure of new urban zones;

+ Industry, except for those projects in the industrial sectors specified in clause 1, 2 and 3 of the Law on Public Investment 2019;

- Those projects in the fields specified in clause 5 of Article 8 herein with the gross investment worth from 45 billion dong to less than 800 billion dong.

+ Health, culture and education;

+ Scientific research, information technology, radio and television broadcasting;

+ Treasure;

+ Tourism, sport and physical activities;

+ Civil construction, except construction of residential buildings specified in point g of clause 2 of the Law on Public Investment 2019;

+ Projects developed in the national defence and security field, except those projects specified in clause 1, 2, 3 and 4 of the Law on Public Investment 2019.

2. Contents of reports on recommendation of policies for investment in group-B investment projects in Vietnam

According to Article 31 of the Law on Public Investment 2019 (amended in the Law on Environmental Protection 2020), main contents of reports on recommendation of policies for investment in group-B investment projects shall include the followings:

- Necessity of making investment, requirements for carrying out investment, assessment of relevance to related planning schemes, subject to law on investment planning and proposals;

- Objectives, scale, location and extent of investment;

- Estimated gross investment and structure of investment capital, capacity for balancing public investment capital, mobilization of other funds and resources for implementation of a project;

- Proposed schedule of investment, proposed plan for disbursement of funds which are adapted for practical conditions and capacity for calling for resources in the rational order of priority, ensure concentrated and efficient investment;

- Preliminarily determining costs related to the implementation process and costs incurred from operation of a project after it is completed;

- Preliminarily analyzing and assessing social impacts; preliminarily assessing environmental impacts (if any) as prescribed by the law on environmental protection; preliminarily determining investment efficiency in socio-economic aspects;

- Splitting constituent projects (if any);

- Implementation measures.

3. Procedures and processes for grant of decisions on policies for investment in group-B investment projects using public investment capital under the management of Ministries or central regulatory authorities in Vietnam

Procedures and processes for grant of decisions on policies for investment in group-B investment projects using public investment capital under the management of Ministries or central regulatory authorities according to Article 26 of the Law on Public Investment 2019 are as follows:

- Ministers and Heads of central and local regulatory agencies shall have the following responsibilities:

+ Authorize the entity directly put under their control to prepare an investment policy recommendation report;

+ Establish a Council to evaluate, or authorize another competent entity to evaluate, the investment policy recommendation report, funding sources and capital balancing capacity;

+ Direct the entity prescribed in point a of this clause to prepare a complete investment policy recommendation report based on evaluation opinions.

- Based on evaluation opinions prescribed in clause 1 of this Article, Ministers and Heads of central regulatory authorities issue investment policy decisions, including such contents as investment objectives, scale, gross investment, structure of funding sources, location, timelength and schedule of implementation and proposed fund disbursement plan.

4. Procedures and processes for grant of decisions on policies for investment in group-B investment projects using public investment capital under the management of local authorities in Vietnam

Procedures and processes for grant of decisions on policies for investment in group-B investment projects using public investment capital under the management of local authorities according to Article 27 of the Law on Public Investment 2019 are as follows:

- The Chairmen/Chairwomen of all-level People’s Committees shall assume the following responsibilities:

+ Authorize specialized entities or People’s Committees at the inferior level to directly prepare investment policy recommendation reports;

+ Establish a Council to evaluate, or authorize another competent entity to evaluate, these investment policy recommendation reports, funding sources and capital balancing capacity with respect to public investment programs and projects using public investment capital under their respective jurisdiction;

+ Direct the entities prescribed in point a of this clause to prepare complete investment policy recommendation reports based on evaluation opinions.

- People’s Committees petitions same-level People’s Councils to consider granting investment policy decisions, including such contents as investment objectives, scale, total investment capital, location, timelength, schedule of implementation of a project and proposed fund disbursement plans, mechanisms, solutions and policies for implementation.

Quoc Dat

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE