Regulations on the management and use of revenues from construction consultancy and project management activities in Vietnam

Regulations on the management and use of revenues from construction consultancy and project management activities in Vietnam

Sources of income for the investor and the project management unit for the projects under their management in Vietnam include:

- Income from project management costs, including: Funds extracted for project management costs and other sources from projects under management.

- Other legitimate income of the investor and project management unit as prescribed, including: Income from consultancy activities for other projects and other incomes as stipulated by law.

- State budget allocation (if any).

The division of project management income between the investor and the project management unit for projects under management: Based on the content, workload, and responsibilities between the investor and the project management unit, the head of the unit assigned as the investor decides in writing the income distribution ratio of project management income between the investor and the project management unit (if any) and is accountable for this content.

For income from costs of projects under management, fees as per the laws on fees, charges, and other amounts in the state budget (if any) as prescribed by the Law on the State Budget, the Law on Public Debt Management, and relevant laws: The investor and the project management unit shall open accounts at the State Treasury in a convenient location to manage them.

For income not from projects under management, funds are formed according to the financial autonomy mechanism of public service providers: The investor and project management unit are entitled to open deposit accounts at the State Treasury or commercial banks for management.

More details can be found in Circular 70/2024/TT-BTC which takes effect in Vietnam from November 15, 2024.

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