Official establishment of the Covid-19 Vaccine Fund in vietnam

Thuy Trong

09:04, 27/05/2021

On May 26, 2021, the Prime Minister of Vietnam issued Decision 779/QD-TTg on the establishment of the Covid-19 Vaccine Fund.

The decision clearly states that the Fund's functions of VFVC (Vietnam Fund for Vaccination Prevention of Coronavirus Disease) include management and coordination of its financial and material resources to fund and support the purchase, import, domestic research and production and use of COVID-19 vaccines.

Revenue sources of VFVC include:

- Voluntary contributions, sponsorships and assistance in cash and in the form of vaccines and other materials from Vietnamese and foreign organizations and individuals;

- Other lawful funding sources.

In addition, the Vaccine Fund of Vietnam will operate according to the following principles:

- VFVC shall operate in a non-profit, transparent, economical and efficient manner and use its funds for the intended purposes and as prescribed by law.

- Financial activities of VFVC are subject to the inspection and audit of finance authority and State Audit Office of Vietnam; VFVC is under the supervision of Vietnam Fatherland Front and the community.

- VFVC may deposit its idle funds at commercial banks to protect and develop its funds in a safe manner.

Decision 779/QD-TTg takes effect from May 26, 2021.

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