Amendments to regulations on formulation and assignment of national 5-year target program plans in Vietnam

Amendments to regulations on formulation and assignment of national 5-year target program plans in Vietnam

Specifically, the formulation and assignment of the national 5-year national target program plan is as follows:

(1) The formulation, appraisal, and decision on investment policies and decisions on investment in national target programs shall comply with the provisions of the Law on Public Investment.

(2) The national target program planning for the 5-year period of the country shall be implemented after the Prime Minister approves the decision on investment in the national target program; stipulate principles, criteria, and norms for allocation of central budget capital and proportion of reciprocal capital of local budgets for implementation of national target programs.

(3) Within 15 working days from the date on which the Prime Minister of Vietnam promulgates regulations on principles, criteria, and norms for the allocation of central budget capital and the proportion of reciprocal capital of the local budget to implement the national target program, the program owner shall assume the prime responsibility for and coordinate with the component project owner and relevant agencies:

- Project objectives, tasks, and allocation plans for medium-term public investment plans from the central budget for a 5-year period of the national target program for ministries, central agencies, provinces, and centrally run cities; propose key solutions to implement the national target program in a 5-year period, and send it to the Ministry of Planning and Investment and the Ministry of Finance of Vietnam.

- Develop a plan for allocation and announce the expected level of non-business capital from the central budget for a period of 5 years; annually notify the level of non-business capital from the central budget for the 3-year period of the national target program to the ministries, central agencies, and provinces and cities directly under the central government.

(4) The Ministry of Planning and Investment shall preside over:

- Summarize and report to the Prime Minister to assign goals and tasks for the 5-year period of each national target program to the provinces and centrally-run cities.

- Summarize and report to competent authorities the plan on allocation and assignment of medium-term public investment plans from the central budget for a 5-year period of each national target program for ministries, central agencies, provinces, and centrally run cities in accordance with the Law on Public Investment.

Decree 38/2023/ND-CP takes effect as of June 24, 2023.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE