Procedures for making decisions on investment policies for PPP projects in Vietnam

What are the procedures for making decisions on investment policies for PPP projects in Vietnam? - The Dang (HCMC, Vietnam)

Procedures for making decisions on investment policies for PPP projects in Vietnam (Internet image)

Procedures for making decisions on investment policies for PPP projects in Vietnam

Pursuant to Article 13 of the Law on Public – Private Partnership Investment 2014 stipulates the procedures for making decisions on investment policies for PPP projects as follows:

1. Procedures for grant of decisions on investment policies for PPP projects falling under the National Assembly’s delegated authority in Vietnam

Procedures for grant of decisions on investment policies for PPP projects falling under the National Assembly’s delegated authority shall be subject to the following regulations:

- PPP project preparation unit prepares a pre-feasibility study report as a basis for the relevant competent authority to submit it to the Government, and concurrently send it to the Ministry of Planning and Investment;

- The Ministry of Planning and Investment offers the Prime Minister a suggestion about setting up the State Assessment Board;

- The State Assessment Board conducts an assessment of the submitted pre-feasibility study report. In case any project uses public investment capital, the evaluation of funding sources and the capability to balance investment capital shall be subject to law on public investment;

- The Government prepares complete documentation submitted to the National Assembly for its review and decision;

- The National Assembly’s affiliate verifies and reviews the Government’s submitted documentation;

- The National Assembly considers ratifying resolutions regarding investment policies for PPP projects.

2. Procedures for grant of decisions on investment policies for PPP projects falling under the Prime Minister’s delegated authority in Vietnam

Procedures for grant of decisions on investment policies for PPP projects falling under the Prime Minister’s delegated authority shall be subject to the following regulations:

- PPP project preparation unit prepares a pre-feasibility study report as a basis for the competent authority to send it to the Ministry of Planning and Investment;

- The Minister of Planning and Investment offers the Prime Minister a suggestion about setting up the Interdisciplinary Assessment Board;

- The Interdisciplinary Assessment Board conducts an assessment of the submitted pre-feasibility study report;

- Ministry of Planning and Investment leads the evaluation of funding sources and capacity for balancing central government’s budget capital under the provisions of law on public investment in the case of PPP projects using central government’s budget capital before sending them to the Interdisciplinary Assessment Board;

- Local public investment authorities lead the evaluation of funding sources and capacity for balancing local government’s budget capital under the provisions of law on public investment in the case of PPP projects using local government’s budget capital before sending them to the Interdisciplinary Assessment Board;

- The Interdisciplinary Assessment Board completes and sends an assessment report to the relevant competent authority;

- Competent authority prepares complete documentation submitted to the Prime Minister for his review and decision;

- The Prime Minister issues investment policy decisions.

3. Procedures for grant of decisions on investment policies for PPP projects falling under the authority to grant investment policy decisions delegated to Ministers, heads of central authorities and other bodies in Vietnam

Procedures for grant of decisions on investment policies for PPP projects falling under the authority to grant investment policy decisions delegated to Ministers, heads of central authorities and other bodies shall be subject to the following regulations:

- PPP project preparation units prepare pre-feasibility study reports as a basis for Ministers and heads of central authorities and other bodies to consider issuing decisions;

- Grassroots-level Assessment Boards or authorized units carry out the assessment of pre-feasibility study reports;

- Public investment authorities under the control of Ministries, central authorities and other bodies lead the evaluation of funding sources and capacity for balancing public investment capital under the provisions of law on public investment in the case of PPP projects using public investment capital before sending them to the Grassroots-level Assessment Boards or authorized assessment units;

- Grassroots-level Assessment Boards or authorized assessment units complete and send assessment reports to PPP project preparation units;

- PPP project preparation units prepare complete documentation for submission to Ministers and heads of central authorities and other bodies for their review and decision;

- Ministers, heads of central authorities and other bodies issue their investment policy decisions.

4. Procedures for grant of decisions on investment policies for PPP projects falling under the delegated authority of provincial People’s Councils in Vietnam

Procedures for grant of decisions on investment policies for PPP projects falling under the delegated authority of provincial People’s Councils shall be subject to the following regulations:

- PPP project preparation units prepare pre-feasibility study reports for submission to provincial People’s Committees;

- Grassroots-level Assessment Boards or authorized assessment units carry out the assessment of pre-feasibility study reports;

- Local public investment lead the evaluation of funding sources and capacity for balancing public investment capital under the provisions of law on public investment in the case of PPP projects using public investment capital before sending them to Grassroots-level Assessment Boards or authorized assessment units;

- Grassroots-level Assessment Boards or authorized assessment units complete and send assessment reports to PPP project preparation units;

- PPP project preparation units prepare complete documentation as a basis for provincial People's Committees to submit them to provincial People's Councils for their review and decision;

- Provincial People’s Councils issue investment policy decisions.

Note: As for PPP projects using regular expenditures or lawful revenues reserved for regular spending purposes by state authorities or public service units for making payments to PPP project enterprises, or using state budget reserves for offsetting reduced revenues, financial institutions at all levels evaluate the capability of balancing the budget according to the provisions of law on state budget, and send them to PPP Project Assessment Boards or assigned assessment units for  a general report submitted to competent authorities to seek their investment policy decisions.

Ngoc Nhi

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