Decree 77: Time to allocate capital for completion of project in medium-term public investment plan in Vietnam

Specifically, according to the Decree No. 77/2015/NĐ-CP of Vietnam’s Government, the time to allocate capital for completion of project as per the progress shall be decided by the competent authority level. For projects of group B and C, the time to allocate capital is specified in Clause 1 of this Article but not exceeding the maximal time as provided for as follows:

a) For projects of group B with a total investment capital of less than 800 billion dong: not exceeding 05 years; projects of group B with a total investment capital from 800 billion dong to 2,300 billion dong: not exceeding 08 years;

b) For projects of group C: not exceeding 03 years.

However, in special cases due to unforeseen and objective reasons, the capital is not sufficiently allocated, the authority to extend the time to allocation capital is as follows:

- The Prime Minister shall decide the extension of time to allocate capital to national important projects and the projects of group A, B and C using the capital from the central budget, national bond and government bond;

- The Chairman of People’s Committee at all levels shall decide the extension of time to allocate capital to projects of group C from the total balancing capital of local budget and from revenues left for investment but not yet included in the balance of local budget and other loan capital of local budget for investment;

- The Head of Ministries and central sectors shall decide the extension of time to allocate capital to projects of group B and C by using the revenues left for investment but not yet included in the balance of state budget of the Ministries and central sectors;

- The level having authority to decide the investment with the agreement of foreign aid donors shall decide the extension of time to allocate capital to projects of group A, B and C using ODA capital and preferential capital from foreign aid donors.

View more details at the Decree No. 77/2015/NĐ-CP of Vietnam’s Government, effective from November 01, 2015.

Thu Ba

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