Regulations on the establishment and management of investment costs for information technology application using State budget funds in Vietnam from February 14, 2025

Regulations on the establishment and management of investment costs for information technology application using State budget funds in Vietnam from February 14, 2025

The formulation and management of investment costs for information technology application using state budget capital in Vietnam are regulated as follows:

* Principles for cost formulation and management

- Ensure the correctness of objectives and effectiveness of information technology application activities using state budget sources.

- Costs must be calculated correctly by method and sufficiently with cost items for each information technology application activity.

- The state manages costs through the issuance, guidance, and inspection of the implementation of legal regulations.

* Method for preliminary determination of total investment level

- Costs constituting the preliminary total investment level include: construction costs; equipment costs; project management costs; investment consultancy costs; other costs; and contingency costs.

- The preliminary total investment level is determined according to the methods stipulated in Clause 2, Article 12 of Decree 73/2019/ND-CP (amended and supplemented at Clause 10, Article 1 of Decree 82/2024/ND-CP). Detailed methods for preliminary determination of total investment level are guided in Appendix 01 issued with Circular 18/2024/TT-BTTTT.

* System of information technology application standards

- The system of information technology application standards includes economic-technical standards and cost percentage standards.

- Economic-technical standards are the necessary expenditures for materials, labor, machinery, and construction equipment, determined in accordance with technical requirements, technology, deployment measures, and scope of specific work execution to complete a unit of work volume.

- Cost percentage standards are calculated in percentage (%). Cost percentage standards are used to determine cost estimates for certain types of work, costs in information technology application activities using state budget sources, including general costs, pre-calculated taxable income, project management costs, investment consultancy costs, and some other costs.

- Information technology application standards are the basis for formulating the unit price of information technology applications.

More details can be found in Circular 18/2024/TT-BTTTT effective from February 14, 2025.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE