Regulations on management and use of funds in bidding for selecting investors to implement PPP projects in Vietnam

Regulations on management and use of funds in bidding for selecting investors to implement PPP projects in Vietnam

- In cases where the procuring entity is the Project Management Board, the management, use, and settlement of funds in investor selection for implementing PPP projects shall be conducted in accordance with the provisions of Circular 70/2024/TT-BTC dated October 1, 2024, issued by the Ministry of Finance on the management and use of funds collected from consulting activities and project management by investors and project management boards using state budget funds.

- In cases where specialized units or subordinate units of an authorized agency hire consultants to select investors to carry out part or all of the tasks specified in Clause 2, Clause 3, and Clause 4 of Article 32 of Decree 35/2021/ND-CP, the cost of hiring consultants is implemented as follows:

+ The total cost in investor selection, including taxes (comprising costs directly executed by the procuring entity), does not exceed the approved estimate for hiring consultants.

+ The payment value to the consulting unit is executed according to the Contract between the procuring entity and the consulting unit.

+ The management, use, payment, and settlement of funds specified at point b of Clause 2, Article 7 of Circular 95/2024/TT-BTC shall be conducted in accordance with the prevailing regulations on management, payment, and settlement of public investment capital.

- In cases where specialized units or subordinate units of an authorized agency are sufficiently competent and approved by the competent authority to self-execute part or all of the tasks specified in Clauses 2, 3, and 4 of Article 32 of Decree 35/2021/ND-CP: The management and use of the funds for self-organizing the bidding for investor selection by the assigned unit shall be executed according to the financial mechanisms approved by the competent authority.

Circular 95/2024/TT-BTC becomes effective from February 15, 2025.

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