Subject matters of and time limits for grant of decisions on group-A, B and C public investment programs or projects in Vietnam

Subject matters of and time limits for grant of decisions on group-A, B and C public investment programs or projects in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Subject matters of and time limits for grant of decisions on group-A, B and C public investment programs or projects in Vietnam

Subject matters of and time limits for grant of decisions on group-A, B and C public investment programs or projects according to Article 21 of Decree 40/2020/ND-CP are as follows:

- Decisions on group-A, B and C public investment programs or projects:

+ Decisions on investment in public investment programs must contain the following main information: program objectives, scope and scale; total investment and structure of resources used for implementation of programs, including project portfolio, level of allocated public investment capital, mobilization of funding and other sources; capital allocation plans and program implementation progress; associated costs arising in the process of implementation of programs and operating costs after completion of development of programs; component projects of programs; implementation solutions; etc.

+ Decisions on public investment projects without construction components shall contain the following main contents: Project name; project owners; bodies providing consultancy for development of projects 9if any); investment objectives, scale and execution progress; project sites; technological designs (if any); technical regulations; total investment capital; funding sources and proposed allocation of capital according to implementation progress; organizational forms of management of projects to be applies; etc.

+ Decisions on investment in public investment projects with construction components shall be subject to laws on construction.

- Upon receipt of full and valid application or request documentation submitted to seek competent authorities’ decisions on investment in public investment programs or projects, the time limits for issuance of these decisions shall be as follows:

+ Public investment programs: Not exceeding 20 days;

+ Group-A public investment projects: Not exceeding 15 days;

+ Group-B and C public investment projects: Not exceeding 10 days.

- Within 15 days after competent authorities issue their decisions on investment in public investment programs or projects:

+ Ministries, central regulatory bodies and local authorities administering public investment programs or projects using the central budget's capital must submit them to the Ministry of Planning and Investment and the Ministry of Finance to seek their consent to those programs or projects approved by competent authorities;

+ Local authorities at any relevant level that administer public investment programs or projects using the capital of the local governments’ budget must submit them to Departments of Planning and Investment and/or Departments of Finance and/or specialized investment management authorities at the same level shall make their decisions on investment in those programs or projects already obtaining approval from competent authorities.

2. Procedures and processes for grant of decisions on policies for investment in group-A, B and C foreign public investment projects in Vietnam

Procedures and processes for grant of decisions on policies for investment in group-A, B and C foreign public investment projects in Vietnam according to Article 8 of Decree 40/2020/ND-CP are as follows:

- Heads of ministries or central regulatory bodies:

+ Authorize their directly controlled units to prepare pre-feasibility study reports or investment policy recommendation reports;

+ Establish Assessment Councils or authorize competent units to assess pre-feasibility study reports and investment policy recommendation reports; assess funding sources and capacity to balance project-related capital;

+ Direct those units specified in point a of clause 1 Article 8 of Decree 40/2020/ND-CP to complete pre-feasibility study reports and investment policy recommendation reports; submit them to respective competent authorities to seek their approval decisions on investment policies for public investment projects.

- Presidents of People’s Committees at any level:

+ Authorize their specialized agencies and directly affiliated units under their authority to prepare pre-feasibility study reports or investment policy recommendation reports for public investment projects;

+ Establish Assessment Councils or authorize competent units to assess pre-feasibility study reports and investment policy recommendation reports; assess funding sources and capacity to balance project-related capital;

+ Direct those units specified in point a of this clause to complete pre-feasibility study reports and investment policy recommendation reports; submit them to respective competent authorities to seek their approval decisions on investment policies for public investment projects.

- Components of pre-feasibility study reports or investment policy recommendation reports for group-B and C projects:

+ Investment necessity, prerequisites for carrying out investments, assessment of relevance of the projects to related planning schemes prescribed in the host country's laws;

+ Objectives, scale and location of investment;

+ Total estimated investment;

+ Anticipated investment schedule and phasing;

+ Factors related to security and environment; preliminary determination of socio-economic effectiveness;

+ Division of the project into constituent projects (if any);

+ Implementation measures.

- Subject matters of the assessment of investment policies for public investment projects, including:

+ Necessity of investment in the public investment project;

+ Compliance with the domestic laws of the host country and the Socialist Republic of Vietnam;

+ Relevance of the public investment project to the related planning scheme provided in the host country’s laws;

+ Objectives, scale, location and schedule of implementation of the investment project; factors related to security and environment;

+ Socio-economic effectiveness.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE