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Non-profit operation of Vietnam Disaster prevention and control fund

Đức Thảo

14:59, 12/02/2021

Recently, at the 9th session, the XIV National Assembly of Vietnam officially approved Law amending a number of articles of the Law on Natural Disaster Prevention and Control and the Law on Dykes 2020 .

According to Clause 7, Article 1 of Vietnam's Law amending a number of articles of the Law on Natural Disaster Prevention and Control and the Law on Dykes 2020, operating principles of a natural disaster management fund are as follows:

The fund operates for non-profit purposes;
The fund is managed and used for intended purposes, in accordance with laws and in a timely, effective, public and transparent manner;

The fund supports natural disaster management disaster activities that have not yet been funded by the state or have not yet satisfied demands.

Previously, Vietnam's Law on Natural Disaster Prevention and Control (2013) did not prescribe specific operating principles but only stipulated that the management and use of the fund for natural disaster prevention and control must ensure the right purpose, timeliness, publicity, transparency, fairness, and efficiency.

Financial sources of natural disaster management funds:

Are extracted from the provincial natural disaster management fund under the decision of the Prime Minister of Vietnam and other lawful sources;
Are extracted from the central natural disaster management fund, other provincial natural disaster management funds and other lawful sources.

More details can be found in Vietnam's Law on Amending a Number of Articles of the Law on Natural Disaster Prevention and Control and the Law on Dykes 2020, effective from July 1, 2021.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

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