04 things you should know about Hue Heritage Conservation Fund

04 things you should know about Hue Heritage Conservation Fund (Source: Internet)

1. What is the Hue Heritage Conservation Fund?

According to Clause 2, Article 2 of Decree 84/2022/ND-CP, the Hue Heritage Conservation Fund is a national fund established by the Government and assigned to the People's Committee of Thua Thien Hue province to directly manage, in order to mobilize resources to invest in the restoration, preservation, and development of Hue heritage values and investment in works and items that have not been funded by the state budget or are not allocated by the state budget.

Specifically, the Hue Heritage Conservation Fund operates under the model of a public non-business unit directly under the People's Committee of Thua Thien Hue province; it operates not for profit.

The Hue Heritage Conservation Fund has legal status, its own seal and is allowed to open a deposit account for capital from the state budget at the State Treasury and a deposit account for capital sources of organizations. , businesses and individuals sponsored at the State Treasury or commercial banks as prescribed by law.

(Clause 3, 4, Article 2 of Decree 84/2022/ND-CP)

2. Missions of Hue Heritage Conservation Fund in Vietnam

Specifically, in Article 3 of Decree 84/2022/ND-CP, the Hue Heritage Conservation Fund performs the following tasks:

- Receiving, managing, and using the Fund's financial resources according to regulations

- Funding for projects; investment in restoration, preservation, and development of Hue heritage values; investment in works and items that have not been invested in by the state budget or are not invested enough.

- Implementing the reporting and accounting regime as prescribed in Decree 84/2022/ND-CP and relevant laws.

- Complying with the inspection, examination, and audit of competent state agencies in accordance with law.

- Publicly announcing the operation regulation and operation results of the Hue Heritage Conservation Fund; reporting on the fund's performance in accordance with the provisions of Decree 84/2022/ND-CP and relevant laws.

- Other duties as prescribed by the law in Vietnam.

3. Hue Heritage Conservation Fund Organizational Structure

3.1. Hue Heritage Conservation Fund Management Board

The Management Board of Hue Heritage Conservation Fund has five members, including: the Chairman, Vice President, and other members, the most important of which are:

- The Chairman of the Fund Management Council is the leading representative of the People's Committee of Thua Thien Hue province.

- The Vice Chairman and the remaining members are leaders of the Department of Finance, Department of Planning and Investment, Department of Culture and Sports of Thua Thien Hue province and Hue Monuments Conservation Center.

The appointment, dismissal, and removal of members of the Fund Management Council shall be made by the Chairman of the People's Committee of Thua Thien Hue province.

The Management Board of the Hue Heritage Conservation Fund works under a collective system, making decisions by majority.

The duties and powers of the Fund Management Council shall comply with the provisions of the Fund Charter promulgated by the People's Committee of Thua Thien Hue province.

(Article 5 of Decree 84/2022/ND-CP)

3.2. Operational agency of Hue Heritage Conservation Fund in Vietnam

According to Clause 1, Article 6 of Decree 84/2022/ND-CP, the operational management agency of the Hue Heritage Conservation Fund includes:

- The Fund's director is appointed or dismissed by the Chairman of the People's Committee of Thua Thien Hue province at the proposal of the Chairman of the Fund Management Council. The Fund's director may concurrently hold the position of Vice Chairman or be a member of the Fund Management Council.

- The Fund's Deputy Director and Chief Accountant are proposed by the Fund's Director and the Fund Management Council Chairman for consideration and submission to the Chairman of the People's Committee of Thua Thien Hue province for appointment or dismissal.

- The Fund's professional staff shall be decided by the Fund's Director after obtaining the approval of the Chairman of the Fund Management Council.

The professional executive body of the Hue Heritage Conservation Fund works on a part-time basis.

Duties and powers of the Hue Heritage Conservation Fund's professional management agency shall comply with the provisions of the Fund's Charter issued by the People's Committee of Thua Thien Hue province.

4. Financial sources of Hue Heritage Conservation Fund in Vietnam

The financial sources of the Hue Heritage Conservation Fund are specified in Article 7 of Decree 84/2022/ND-CP, specifically as follows:

- Support from the state budget of the provinces and centrally-run cities (excluding the budget of Thua Thien Hue province)

- Contributions, aid, and sponsorship from domestic and foreign organizations and individuals, including voluntary or purported sponsorship.

- Interest from the deposit account (if any).

- Fund balance source every year.

- Other legal sources (if any).

Thanh Rin

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