Time limits for appraisal of construction investment feasibility study reports in Vietnam

Time limits for appraisal of construction investment feasibility study reports in Vietnam (Internet image)

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

1. What is construction investment project?

According to Clause 15, Article 3 of the Construction Law 2014, construction investment project means a collection of proposals concerning use of funds for construction, repair or renovation of a construction work with a view to developing, maintaining and raising the quality of the work or product or service within a given duration at specified costs.

At the stage of investment construction project preparation, the project shall be demonstrated through the construction investment pre-feasibility study report, the construction investment feasibility study report or construction investment economic-technical report.

2. Time limits for appraisal of construction investment feasibility study reports in Vietnam

Time limits for appraisal of construction investment feasibility study reports according to Article 59 of the Construction Law 2014 (amended 2020) is as follows:

- The time limit for appraisal of a construction investment feasibility study report shall be counted from the date the appraisal agency or organization receives a complete and valid dossier.

- Time limits for appraising construction investment feasibility study reports of projects using public investment funds are as follows:

+ For national important projects, the appraisal time limit shall comply with provisions of the Law on public investment;

+ For group-A projects, the appraisal time limit shall not exceed 40 days, including a period for appraisal by a specialized construction agency of not exceeding 35 days;

+ For group-B projects, the appraisal time limit shall not exceed 30 days, including a period for appraisal by a specialized construction agency of not exceeding 25 days;

+ For group-C projects, the appraisal time limit shall not exceed 20 days, including a period for appraisal by a specialized construction agency of not exceeding 15 days.

- For projects other than those prescribed in Clause 2 of Article 59 of the Construction Law 2014 (amended 2020), time limits for appraising construction investment feasibility study reports shall be considered and decided by investment decision makers.

Where projects must be appraised by specialized construction agencies, periods of appraisal by specialized construction agencies shall comply with the provisions in Clause 2 of Article 59 of the Construction Law 2014 (amended 2020);

For national important projects that do not use public investment funds, the period of appraisal by a specialized construction agency shall not exceed 80 days.

3. Power to make construction investment decision in Vietnam

According to Article 60 of the Article 59 of the Construction Law 2014 (amended 2020), the power to make construction investment decision is as follows:

- For projects using public investment funds, the power to make construction investment decisions shall comply with provisions of the Law on public investment.

- For state-invested construction investment projects of enterprises, the power to make construction investment decisions shall comply with provisions of the Law on management and use of state capital invested in production and business activities of enterprises, and relevant laws.

- For PPP projects, the power to make construction investment decisions shall comply with provisions of the Law on investment in the public-private partnership form.

- For projects using non-public investment state funds, except projects prescribed in Clause 2 of Article 59 of the Construction Law 2014 (amended 2020), and projects using other funds, project owners or their representatives shall make construction investment decisions or construction investment decisions shall be made in accordance with relevant laws.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE