THE NATIONAL ASSEMBLY
-------- |
SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness --------------- |
No. 49/2014/QH13
|
Hanoi, June 18, 2014
|
LAW
Pursuant to the Constitution of the Socialist Republic of
Vietnam;
The National Assembly hereby promulgates the Law on Public
Investment.
Chapter I
GENERAL PROVISIONS
Article 1. Governing scope
This Law provides for the management and use of the capital
budget for public investment; the state management of public investment; the
right, obligation and responsibility of agencies, organizations and individuals
involved in public investment activities.
Article 2. Applicable entities
This Law is applied to agencies, organizations and
individuals participating or getting involved in public investment activities
as well as the management and use of the capital budget for public investment.
Article 3. Application of the Law on Public Investment,
International Treaties and Agreements
1. The management and use of the capital budget for public
investment and public investment activities must abide by the provisions of
this Law and other relevant laws.
2. If the International Treaties to which the Socialist
Republic of Vietnam is a signatory set out regulations other than those
specified in this Laws, the regulations of the International Treaties shall
prevail.
3. The overseas development of public investment programs
and projects must comply with regulations set out in International Treaties to
which the Socialist Republic of Vietnam is a signatory as well as International
Agreement between Vietnam and foreign partners.
Article 4. Interpretation of terms
In this Law, used terms shall be construed as follows:
1. Report on investment intentions means an
explanatory material for preliminary study contents about the significance,
feasibility and efficiency of public investment programs, Group-B and Group-C
projects, which serves as a basis for competent authorities to decide on the
investment policies.
2. Pre-feasibility study report means an explanatory
material for preliminary study contents about the significance, feasibility and
efficiency of national important projects and Group-A projects, which serves as
a basis for competent authorities to decide on the investment policies.
3. Feasibility study report means an explanatory
material for study contents about the significance, feasibility and efficiency
of public investment programs and projects, which serves as a basis for the
investment decision made by competent authorities.
4. Ministry, agency and local authority means
regulatory bodies designated by the Prime Minister to develop and implement
public investment plans, including:
a) The Communist Party Committee of political institutions,
the Supreme People’s Procuracy, the Supreme People’s Court, the State Audit,
the President’s Office, the National Assembly’s Office, Ministries,
ministerial-level authorities, Governmental agencies (hereinafter referred to
as Ministry and central governing body);
b)
The People’s Committee of centrally-affiliated cities and provinces
(hereinafter referred to as provincial People’s Committee);
c) The Communist Party Committee of the Vietnam Fatherland
Front and socio-political organizations;
d) Other agencies or organizations assigned to public
investment plans.
5. Program leader means an organization or
institution assigned to lead the management of public investment programs.
6. Investor means an organization or institution
assigned to public investment projects.
7. Public investment program means a combination of
objectives, tasks and measures which aim for socio-economic development
targets.
8. Target program means the program for public
investment activities in order to achieve one or several target(s) in each
sector or several regions or territories over a specific period.
9. National target program means the program
for public investment activities in order to achieve socio-economic development
targets throughout the country over a specific period.
10. Governing body means Ministry, agency and local
authority prescribed in Clause 4 of this Article and program or project
management units who are affiliated to political institutions and the National
Assembly.
11. Professional agency in charge of public investment
management means a competent agency for public investment management,
affiliated to the Ministry of Planning and Investment; an agency assigned to
manage public investment activities, affiliated to Ministries, the Communist
Party Committee, Vietnamese Fatherland Front, socio-political organizations and
others assigned to develop and implement public investment plans; the
Department of Planning and Investment; competent divisions and subdivisions for
public investment management, affiliated to the People's Committee of a
district or commune.
12. State management of public investment activities includes
the Government, the Ministry of Planning and Investment and People’s Committees
at all administrative levels.
13. Public investment project means an investment
project entirely or partially funded by the capital budget for public
investment.
14. Emergency project means an investment project
subject to the decision made by competent authorities, which is aimed at timely
overcoming the aftermaths of natural disasters and other unexpected circumstances.
15. Public investment means the Government’s program
and project on socio-economic infrastructural construction and socio-economic
development.
16. Investment in the form of public-private
partnerships means the investment contract between competent State agencies
and investors or project management enterprises in order to execute, manage and
operate infrastructural and public utility development projects.
17. Public investment activity is composed of the
formulation, evaluation and decision of investment policies or intentions;
design, appraisal and decision of public investment programs and projects;
formulation, evaluation, approval, assignment, development and execution of
public investment plans; management and use of the budget capital for public
investment; monitoring, supervision, evaluation, examination, inspection of
public investment plans, programs and projects.
18.
Public investment plan means a combination of targets; orientation and
listing of public investment programs and projects; balance of the budget
capital for public investment; plans of budget allotment; and approaches to
resource mobilization and project execution.
19. Outstanding debts arising from infrastructural
construction means the value of accepted workloads described in the public
investment plan and approved by competent authorities but the budget has not
been allotted to pay for the execution of these workloads yet.
20. Decentralization of state management of public
investment means the determination of rights and responsibilities of
competent agencies, organizations, and individuals involved in public
investment activities.
21. Budget capital for public investment stipulated
in this Law includes funds derived from the State budget, government bonds,
local government bonds, official development assistance (briefly called ODA),
overseas concessional loans, government credits for investment and development
purposes, retained revenues of the state budget that have not been recorded in
the state budget balance and other loans secured by the local budget for public
investment purposes.
Article 5. Investment in public sectors
1. Investment in socio-economic infrastructure programs and
projects.
2. Investment in ancillary facilities for regulatory
agencies, public service providers, political institutions and socio-political
organizations.
3. Investment and assistance in public product and service
supply activities.
4. Governmental investment in projects to be executed in
the form of a public-private partnership.
Article 6. Classification of public investment projects
1. Depending on the nature of public investment projects,
they are classified into the followings:
a) Construction projects such as new construction,
renovation, upgradation and expansion of existing investment and construction
projects, including the procurement of assets, devices and equipment;
b) Non-construction projects such as asset procurement;
receipt of the disposition of land use right; purchase, repair and upgradation
of equipment and machinery; and other projects that are not subject to
regulations specified at Point a of this Clause.
2. Depending on the significance and size of public
investment projects, they are classified into national important projects;
Group-A, Group-B and Group-C projects which conform to the criteria regulated
in Article 7, 8, 9 and 10 of this Law.
Article 7. Criteria for classifying national important
projects
National important projects are independent investment
projects or a cluster of closely combined projects which meet one of the
following criteria:
1. Using a sum of above VND 10,000 billion as the budget
capital for public investment;
2. Creating or facing the possibility of creating
substantial impacts on the environment, including:
a) Nuclear power plants;
b) Use of a land parcel that requires the conversion of
land use purpose such as a national park; a wildlife sanctuary; a protected
landscape area; a forest covering an area of above 50 hectares that serves the
purpose of scientific research and experiment; a protection forest covering an
area of above 500 hectares which is aimed at barricading windflow, sand, wind
wave and encroaching on the sea as well as protecting the environment; a
production forest covering an area of above 1,000 hectares;
3. Utilizing a land parcel, covering an area of 500
hectares, which requires the conversion of land use purpose from the land
parcel used for wet rice agriculture with more than two crops;
4. Migrating and resettling more than 20,000 residents at
mountainous regions and more than 50,000 residents at other regions;
5. Other projects that require the application of special
regulations and policies, which are subject to the National Assembly’s
decisions.
Article 8. Classification criteria for Group-A projects
Except for national important projects stipulated in
Article 7 of this Law, projects that meet one of following criteria are
classified as Group-A projects:
1. Regardless of the total investment, such projects are
classified according to following criteria:
a) Projects located in the vicinity of special national
sites;
b) Projects located at extremely important areas in terms
of national defence and security according to legal regulations on national
defence and security;
c) National defense and security projects that are
characterized as the state secrets;
d) Hazardous substance and explosive manufacturing
projects;
dd) Infrastructural construction projects for industrial,
processing and exporting zones;
2. Projects financed by the total investment amount of more
than VND 2,300 billion and classified by the following sectors:
a) Traffic infrastructure, including wharfs at the sea or
river, airport, railroads and national highways;
b) Power generation industry;
c) Oil and gas extraction;
d)
Chemical, fertilizer and cement;
dd) Mechanical engineering and metallurgy;
e) Mineral extraction and processing;
g) Residential construction;
3. Projects financed by the total investment amount of more
than VND 1,500 billion and classified by the following sectors:
a) Traffic infrastructure, exclusive of those regulated at
Point a Clause 2 of this Article;
b) Irrigation;
c) Water supply and drainage and technical infrastructure;
d) Electrical engineering;
dd) Communication and electronic device manufacturing;
e)
Pharmaceutical chemistry;
g) Material production, exclusive of those regulated at
Point d Clause 2 of this Article;
h) Mechanical construction, exclusive of those regulated at
Point d Clause 2 of this Article;
i) Post and telecommunications;
4. Projects financed by the total investment amount of more
than VND 2,300 billion and classified by the following sectors:
a) Agriculture, forestry and aquaculture;
b) National park and wildlife sanctuary;
c) Technical infrastructure for new urban zones;
d) Industrial sector, exclusive of industrial projects
regulated in Clause 1, 2 and 3 of this Article;
5. Projects financed by the total investment amount of
above VND 800 billion and classified by the following sectors:
a) Health care, culture and education;
b) Scientific research, information science, radio and
television broadcasting;
c) Treasure;
d) Tourism and sport;
dd) Civil construction, exclusive of residential
development projects regulated at Point g Clause 2 of this Article.
Article 9. Classification criteria for Group-B projects
1. Projects classified by the sectors stipulated in Clause
2 Article 8 of this Law and financed by the total investment amount ranging
from VND 120 billion to below VND 2,300 billion.
2. Projects classified by the sectors stipulated in Clause
3 Article 8 of this Law and financed by the total investment amount ranging
from VND 80 billion to below VND 1,500 billion.
3. Projects classified by the sectors stipulated in Clause
4 Article 8 of this Law and financed by the total investment amount ranging
from VND 60 billion to below VND 1,000 billion.
4. Projects classified by the sectors stipulated in Clause
5 Article 8 of this Law and financed by the total investment amount ranging
from VND 5 billion to below VND 800 billion.
Article 10. Classification criteria for Group-C projects
1. Projects classified by the sectors stipulated in Clause
2 Article 8 of this Law and financed by the total investment amount of below
VND 120 billion.
2. Projects classified by the sectors stipulated in Clause
3 Article 8 of this Law and financed by the total investment amount of below
VND 80 billion.
3. Projects classified by the sectors stipulated in Clause
4 Article 8 of this Law and financed by the total investment amount of below
VND 60 billion.
4. Projects classified by the sectors stipulated in Clause
5 Article 8 of this Law and financed by the total investment amount of below
VND 45 billion.
Article 11. Adjustment to classification criteria for
public investment projects
1. The National Assembly decides on any adjustment to
classification criteria for national important projects as prescribed in
Article 7 of this Law.
2. The Government must submit the Standing Committee of the
National Assembly to decide on any adjustment to classification criteria for
public investment projects as prescribed in Article 8, 9 and 10 of this Law and
report the National Assembly in the next plenum.
3. Adjusting classification criteria for public-sector
projects stipulated in Clause 1 and 2 of this Article is required if there is a
wide fluctuation in price indices or major changes in the decentralization of
public investment management concerning classification criteria for public
investment project or other key elements affecting classification criteria for
public investment projects.
Article 12. Rules of public investment management
1. Observe legal regulations on the management and use of
the budget capital for public investment.
2. Conform to socio-economic development strategy,
five-year socio-economic development plan, socio-economic development planning
and sectoral development planning.
3. Exercise proper rights and responsibilities of State
management agencies, organizations and individuals involved in the management
and use of the budget capital for public investment.
4. Manage the use of the budget capital for public
investment according to appropriate regulations on each capital source; ensure
sufficiency, consistency, cost efficiency, effectiveness and capability of
balancing all relevant resources for public investment activities; avoid any
possible loss and mismanagement.
5. Ensure the public disclosure and transparency for public
investment activities.
6. Encourage organizations and individuals to carry out
direct investment or investment activities in the form of public-private
partnership for socio-economic infrastructural and public utility development
projects.
Article 13. Contents of public investment management
1. Issue and follow legislative documents about public
investment.
2. Design and implement the strategy, program, plan,
planning, initiative and policy for public investment.
3. Keep track of and provide information about the
management and use of the budget capital for public investment.
4. Evaluate the effectiveness of public investment
activities; examine and inspect the compliance with legal regulations on public
investment as well as plan or planning for public investment.
5. Handle any violation, settle complaints or denunciations
from organizations and individuals involved in public investment activities.
6. Commend agencies, organizations, units and individuals
that gain excellent achievements in public investment activities.
7.
Enter into international cooperation on the public investment.
Article 14. Public disclosure and transparency in public
investment activities
1. Contents that require the public disclosure and
transparency in public investment activities are composed of:
a) Policies, laws and the introduction of such policies and
laws on the management and use of the budget capital for public investment;
b) Principles, criteria and allotment of the budget capital
for public investment activities;
c) Principles, criteria and bases for the determination of
project portfolio in mid-term and annual public investment plan;
d) Planning, proposal and program for public investment
activities at local areas where project sites are located; allotment of the
budget capital for specific public investment programs, which depends much on
each fiscal year, progress of execution and disbursement of project fund;
dd) Project portfolio throughout local areas where project
sites are located, including size, total investment amount, schedule and
construction site; evaluation report on common effects of such projects on
local areas where project sites are located;
e) Mid-term or annual plan for the allotment of budget
capital for public investment activities, depending on each capital source,
including project portfolio and allocated amount of the budget capital for each
project;
g) Report on the mobilization of resources and other funds
for the implementation of public investment projects;
h) Analysis and report on achievements or outcomes of
investment plans, programs and projects;
i) Report on the progress of project execution and
disbursement of different project funds;
k) Analysis and report on the acceptance testing and
evaluation of investment programs and projects.
2. Heads of related agencies, organizations and units must
publicize the contents regarding public investment activities in accordance
with legal regulations.
Article 15. Expenses incurred from formulation, appraisal,
supervision, monitoring, evaluation and inspection of public investment plans,
programs and projects
1. Expenses incurred from the formulation and appraisal of
report on investment intentions for national target programs or public
investment programs funded by allocated expenditures from the state budget
granted to the agency and unit in charge of these tasks.
2. Expenses incurred from the formulation and appraisal of
pre-feasibility study report and report on investment intentions, financed by
the fund for the preparation of investment projects.
3. Expenses incurred from the formulation and appraisal of
public investment plans funded by allocated expenditures or current expenditures
from the state budget granted to the agency or unit in charge of these tasks.
4. Expenses incurred from the supervision, monitoring and
evaluation of public investment plans, programs and projects funded by
allocated expenditures or current expenditures from the state budget granted to
the agency or unit in charge of these tasks.
5. Expenses incurred from the inspection of public
investment plans, programs or projects funded by current expenditures allocated
from the state budget to the agency or unit in charge of this task.
6. In respect of public investment programs and projects
financed by ODA funds and overseas concessional loans, foreign donors are
encouraged to provide financial support to cover these expenses as prescribed
in this Article.
Article 16. Prohibited public investment acts
1. The decision on investment policies or intentions is not
aligned with investment strategy, planning and proposal; is not made under the
proper authority; fails to comply with processes or procedures regulated by
laws; fails to get investment funds balanced.
2. The decision to approve investment programs and projects
has been made prior to the decision on investment policies made by competent
authorities or without compliance with investment policies approved by
competent authorities. The decision to adjust total fund for investment
programs or projects in contrast to legal regulations on public investment.
3. Any misuse or abuse of power or authority is aimed at
committing appropriation, mercenary act and corruption in the management and
use of the budget capital for public investment.
4. Program leader and investor enter into collusion with
advisory organizations to obtain the decision on investment policies or
intentions as well as approve investment programs and projects, which leads to
any possible loss and mismanagement of state budget, assets and national
resources; any harmful effect and infringement against individual and
community’s welfare or benefits.
5. Any illegal act of offering, accepting bribes or acting
as a bribe broker is detected
6. Any illegal request for organization or individual's
investment in proposed investment programs and projects that have not been
officialized by the decision on investment policies or approved or funded by
allocated expenditures from the state budget has been made, which can cause
outstanding debts incurred from infrastructural construction.
7. The budget capital for public investment is misused,
mismanaged and exceeds required investment fund as stipulated by laws.
8. All information, documents and materials concerning the
decision on investment policies, investment decision and implementation of
investment programs or projects are falsified or misrepresented.
9. Deliberate acts of reporting and providing inaccurate
and biased information are aimed at affecting the formulation, appraisal and
decision of investment plans, programs and projects.
10. Deliberate acts of reporting and providing inaccurate
and biased information are aimed at adversely affecting the supervision,
monitoring, evaluation and inspection as well as handling of violations during
the implementation of investment plans, programs and projects.
11. Deliberate acts of destruction, fraud, concealment or
failure to retain a full amount of materials, records and documents regarding
the decision on investment policies, investment decision and implementation of
investment programs and projects are performed.
12. Obstruction of the detection of any violation against
laws on public investment.
Chapter II
INVESTMENT POLICY OR
INTENTION AND DECISION ON PUBLIC INVESTMENT PROGRAM AND PROJECT
Section 1: FORMULATING, APPRAISING AND DECIDING ON
INVESTMENT POLICY OR INTENTION
Article 17. Authority to decide on investment policies on
public investment programs and projects
1. The National Assembly has the authority to decide on
investment policies on public investment programs and projects below:
a) National target program;
b) National important project.
2. The Government has the authority to decide on investment
policies on target programs financed by funds derived from the State budget,
government bonds, local authority bonds, ODA, overseas concessional loans, the
government credit for investment and development purposes, state budget
revenues retained but not recorded in the state budget balance.
3. The Prime Minister has the authority to decide on
investment policies on public investment programs and projects below:
a) Group-A projects;
b) Projects financed by funds derived from the state
budget, managed by the Central Committee of the Vietnam Fatherland Front,
socio-economic organizations and other competent agencies.
c) Emergency projects financed by the state budget;
d) Investment programs financed by funds derived from ODA
and overseas concessional loans, exclusive of national target programs and
target programs as stipulated in Clause 1 and Clause 2 of this Article;
dd) Projects financed by funds derived from ODA and
overseas concessional loans as stipulated by the Government.
4. Heads of ministries and central agencies have the
authority to decide on investment policies on the following projects:
a) Group-B and Group-C projects financed by investment
funds derived from the State budget, government bonds, local authority bonds,
ODA, overseas concessional loans, the government credit for investment and
development purposes, state budget revenues which are retained but not recorded
in the state budget balance under their authority, exclusive of those regulated
at Point c Clause 3 of this Article;
b) Projects financed by funds derived from ODA and overseas
concessional loans under their administration, exclusive of those regulated at
Point dd Clause 3 of this Article.
5. The People’s Councils at all administrative levels have
the authority to decide on investment policies on public investment programs
and projects below:
a) Investment program financed by local balanced fund
allocated from the state budget and funds derived from local authority bond,
state budget revenues under their control which are retained but not recorded
in the state budget balance, which are all decided by the People’s Council at
all administrative levels, as well as other loans secured by the local budget
to serve the public investment purpose;
b) Group-B projects and Group-C priority projects under
their administration, exclusive of those regulated at Point dd Clause 3 of this
Article. Group-C priority projects located in local areas shall be decided by
provincial People’s Councils in alignment with objectives, developmental
orientation, financial competence and particular characteristics of these
areas.
6.
The People’s Committee at all administrative levels has the authority to decide
on investment policies under their administration, exclusive of those regulated
in Clause 1, 2, 3, 4 and 5 of this Article.
Article 18. Requirements for the decision on investment
policies on public investment programs and projects
1. Conform to socio-economic development strategy, planning
and proposal, approved by competent authorities.
2. Avoid overlapping public investment programs or projects
that have been put into operation after the decision on investment policies or
investment decision has been made.
3. Conform to the capability of balancing the budget
capital for public investment and the capability of mobilizing other funds for
any program or project that requires different financial sources.
4. Conform to the capability for applying for government
loans and repaying government debts.
5. Ensure the efficiency in socio-economic development,
national defense and security as well as sustainable development projects.
6. Prioritize any project that is carried out in the form
of public-private partnership and has the high rate of return on investment.
Article 19. Process and procedure for the decision on
investment policies on national target programs and national important projects
1. The agency that has been assigned to prepare investment
programs and projects must be responsible to:
a) Assign their affiliates to compile reports on investment
intentions on national target programs and pre-feasibility study reports for
national important projects;
b) Assign a competent unit or establish a Council to
appraise reports on investment intentions and pre-feasibility study reports;
c) Submit complete reports on investment intentions and
pre-feasibility study reports to the Prime Minister.
2. The Prime Minister must establish the State Council for
appraisal of public investment projects chaired by the Minister of Planning and
Investment to appraise reports on investment intentions for national target
programs as well as pre-feasibility study reports for national important
projects.
3. The Government must submit their intentions in investing
in national target programs and national important projects to the National
Assembly for their consideration and decision on this matter.
4. The National Assembly’s regulatory bodies must
investigate and verify all relevant documents about national target programs
and national important projects, submitted by the Government.
5. The National Assembly shall consider and approve the
Resolution on investment intentions for national target programs and national
important projects. Contents of the Resolution enforced by the National
Assembly must clearly specify objective, size, total investment, main
developmental technology, site location, execution schedule, progress, solution
and policy of above-mentioned programs or projects.
Article 20. Dossier on the decision on investment
intentions for national target programs and national important projects
1. The Government’s statement.
2. Report on investment intentions for national target
programs and pre-feasibility study report for national important projects.
3. Appraisal report prepared by the State Council for
appraisal of public investment programs and projects.
4. Other relevant documents.
Article 21. Regulated processes and contents of the
inspection and verification of investment intentions for national target
programs and national important projects
1. Processes of investigation and verification tasks are
regulated as follows:
a) No later than 60 days ahead of the opening day of the
National Assembly’s plenum, the Government shall send a dossier on the decision
on investment intentions for national target programs and national important
projects to the National Assembly’s agency in charge of investigation and
verification tasks.
b) The assigned agency mainly in charge of investigation
and verification tasks shall request the Government and relevant entities to
report issues regarding contents of national target programs and national
important projects; arrange working sessions with responsible parties to deal
with issues regarding contents of national target programs and national
important projects;
c) Entities subject to investigation and verification are
requested to provide an adequate amount of supportive information and
materials.
2. Contents of investigation and verification tasks
include:
a) Conformity to the accepted criteria for classifying
national target programs and national important projects;
b) Importance or significance of investing in public
investment programs and projects;
c) Compliance with legal regulations;
d) Suitability for socio-economic development strategy,
proposal and planning as well as sectoral development planning;
dd) Basic specifications of public investment programs and
projects, including objective, size, investment method, coverage, site
location, required land area, schedule, progress, main technology alternative,
solution to environment protection, capital source, rate of return on
investment, loan repayment capability or solvency.
e) Ensure the efficiency in socio-economic growth, national
defense and security as well as sustainable development;
g) Assessment of conformity to the planning for the
utilization of land parcels, natural recourses, approaches to population
migration, residential and agricultural resettlement for national important
projects to be executed in the country;
h) Risk assessment of outward investment projects of national
importance to be executed in foreign countries.
Article 22. Processes and procedures for the decision on
investment intentions for public investment programs made by the Government
1. Program leader is responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment policies;
c) Submit the complete report on investment intentions to
the Prime Minister.
2. The Prime Minister shall direct the establishment of an
intersectoral Council or assign the Ministry of Planning and Investment to lead
and cooperate with relevant agencies to appraise the report on investment
intentions. If an intersectoral Council is founded, the Ministry of Planning
and Investment shall direct and cooperate with the Ministry of Finance and
relevant agencies to appraise investment portfolio and portfolio balancing
capability.
3. Program leader must submit the complete report on
investment intentions according to the appraisal result mentioned in Clause 2
of this Article to the Government.
4.
The Government shall consider and decide on investment intentions for public
investment programs, including objective, coverage, size, total investment,
schedule, progress, solution and policy.
Article 23. Processes and procedures for the decision on
investment intentions for Group-A projects
1. Heads of central bodies and committee of Vietnam
Fatherland Front, socio-political organizations and other entities must be
responsible to:
a) Assign their affiliates to conduct the pre-feasibility
study report;
b) Assign a competent unit or establish a Council to
appraise the pre-feasibility study report, investment portfolio and portfolio
balancing capability;
c) Direct entities regulated at Point a of this Clause to
submit the complete pre-feasibility study report to the Prime Minister.
2. The President of the provincial People’s Committee is
responsible to:
a) Assign their competent agencies or the People’s
Committee of a district to prepare the pre-feasibility study report;
b) Establish the Appraisal Council chaired by a Vice
President of provincial People’s Committee, joined by the Department of
Planning and Investment that works as the Standing Committee of the Council and
relevant entities that work as members of the Council in order to appraise
pre-feasibility study report, investment portfolio and portfolio balancing
capability;
c) Direct relevant agencies regulated at Point a of this
Clause to submit a complete pre-feasibility study report with reference to the
appraisal result as prescribed at Point b of this Clause to provincial People’s
Committee;
d) Before submitting the aforesaid report to the Prime
Minister, call for advice from provincial People’s Committee.
3. The Prime Minister decides to establish the
intersectoral Council for the appraisal or assign the agency to lead the
appraisal of pre-feasibility study report on the basis of the request of the
Ministry of Planning and Investment.
4. The Ministry of Planning and Investment shall direct and
cooperate with the Ministry of Finance to appraise investment portfolio and
portfolio balancing capability for projects financed by funds derived from:
a) Central budget, government bond, ODA fund and overseas
concessional loans;
b) State budget revenues that are retained but have yet to
be recorded in the state budget balance, managed by Ministries or central
governing bodies;
c) State budget revenues that are retained but have yet to
be recorded in the state budget balance, managed by other entities according to
legal regulations.
The appraisal result shall be sent to the intersectoral
Council for the appraisal or the management agency of the appraisal by the
Ministry of Planning and Investment as stipulated in Clause 3 of this Article.
5. The intersectoral Council or management agency of the
appraisal as prescribed in Clause 3 of this Article shall send the
abovementioned result to relevant agencies and local authorities to make the
complete pre-feasibility study report for submission to the Prime Minister.
6. The Prime Minister shall issue the decision on
investment intentions, comprising such information as objective, size, total
investment, capital structure, site location, execution schedule and progress
of programs or projects.
Article 24. Processes and procedures for the decision on
investment intentions for programs and projects financed by ODA fund and
overseas concessional loans
1. Given socio-economic development strategy and five-year
socio-economic development plan, the Ministry of Planning and Investment shall
direct and cooperate with the Ministry of Finance and relevant authorities as
well as donors to outline cooperation directions and sectors prioritized to get
access to ODA fund and overseas concessional loans.
2. Given cooperation directions, sectors prioritized to
have access to ODA fund and overseas concessional loans, demands for capital
mobilization, donor’s funding requirements, the governing body must send the
request for grants from donors and the proposal of public investment programs
or projects to the Ministry of Planning and Investment.
3. With reference to the direction for international
cooperation with foreign donors and sectors prioritized to have access to ODA
fund and overseas concessional loans, the Ministry of Planning and Investment
must direct and cooperate with the Ministry of Finance, relevant authorities
and such donors to choose proper proposal of public investment programs or
projects as well as notify the governing body to prepare pre-feasibility study
report or report on investment intentions.
4. With regard to national target program and national
important project, processes and procedures for deciding on investment
intentions shall comply with regulations specified in Article 19, 20 and 21 of
this Law.
5. With regard to public investment programs under the
decision-making authority of the Government, processes and procedures for
deciding on investment intentions must conform to regulations specified in
Article 22 of this Law.
6. In respect of Group-A projects, processes and procedures
for making the decision on investment intentions must conform to Article 23 of
this Law.
7. In respect of other public investment programs or
projects under the decision-making authority of the Prime Minister as
prescribed at Point d and Point dd Clause 3 Article 17 of this Law, processes
and procedures for making the decision on investment intentions must be
observed as follows:
a) The governing body shall send pre-feasibility study
report or report on investment intentions to the Ministry of Planning and
Investment;
b) The Ministry of Planning and Investment shall lead the
appraisal of pre-feasibility study report or report on investment intentions,
investment portfolio and portfolio balancing capability for submission to the
Prime Minister;
c) The Prime Minister shall consider and decide on these
investment intentions.
8. In respect of public investment programs or projects
that are not under the decision-making authority of responsible entities as
prescribed in Clause 1, 2 and 3 Article 17 of this Law, processes and
procedures for making the decision on investment intentions must be observed as
follows:
a) The governing body shall seek advice from the Ministry
of Planning and Investment, the Ministry of Finance and relevant agencies about
investment intentions;
b) The Ministry of Planning and Investment shall carry out
the appraisal of investment portfolio and portfolio balancing capability;
c) With reference to advice from relevant agencies and the
appraisal result of investment portfolio and portfolio balancing capability
from the Ministry of Planning and Investment, the governing body must perform
the appraisal and decide on investment intentions.
Article 25. Processes and procedures for the decision on
investment intentions for Group-B and Group-C projects managed by the central
committee of Vietnamese Fatherland Front and socio-political institutions and
other relevant agencies or organizations
1. Head of the central committee of Vietnam Fatherland Front,
socio-political institutions and other relevant agencies or organizations must
be responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment intentions;
c) Direct relevant agencies regulated at Point a of this
Clause to submit the complete report on investment intentions to the Ministry
of Planning and Investment.
2. The Ministry of Planning and Investment shall direct and
cooperate with relevant agencies to perform the appraisal of the report on
investment intentions, investment portfolio and portfolio balancing capability.
3. The central committee of Vietnam Fatherland Front and
socio-political institutions as well as other agencies or organizations must
accomplish the report on investment intentions according to the appraisal
result regulated in Clause 2 of this Article for submission to the Prime
Minister.
4. The Prime Minister shall consider and decide on
investment intentions, including objective, size, total investment, capital
structure, site location, execution schedule and progress of programs or
projects.
Article 26. Processes and procedures for the decision on
investment intentions for Group-B and Group-C projects financed by central
budget, government bond and fund derived from state budget revenues that are
retained for public investment but not recorded in the state budget balance
from Ministries or centrally-governed regulatory bodies
1. Ministers and Heads of central governing bodies are
responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment intentions;
c) Direct relevant agencies regulated at Point a of this
Clause to submit the complete report on investment intentions to the Ministry
of Planning and Investment.
2. The Ministry of Planning and Investment shall lead and
cooperate with the Ministry of Finance to perform the appraisal of investment portfolio
and portfolio balancing capability.
3. Given the appraisal result regulated in Clause 1 and
Clause 2 of this Article, Ministers and Heads of central governing bodies shall
issue the decision on investment intentions, enclosing proper information such
as objective, size, total investment, capital structure, site location,
execution schedule and progress of programs or projects.
Article 27. Processes and procedures for the decision on
investment intentions for Group-B and Group-C projects financed by central
budget and government bond managed by local authorities
1. The President of People’s Committee at all
administrative levels is responsible to:
a) Assign their competent departments or subordinate
People’s Committees to prepare the report on investment intentions;
b) Establish a Council to appraise the report on investment
intentions, investment portfolio and portfolio balancing capability;
c) Direct relevant agencies regulated at Point a of this
Clause to accomplish the report on investment intentions.
2. In terms of Group-B projects and Group-C priority
projects:
a) In terms of Group-B projects and Group-C priority
projects managed by provincial People’s Committee, the Department of Planning
and Investment shall be assigned to perform the appraisal of investment
portfolio and portfolio balancing capability before submitting the report on
investment intentions to provincial People’s Council to seek their consent.
After provincial People’s Council has granted their
consent, provincial People’s Committee shall submit the report on investment
intentions to the Ministry of Planning and Investment.
b) In terms of Group-B projects and Group-C priority
projects managed by the People’s Committee of a district and commune, the
People’s Council at the same administrative level shall be advised to seek
their consent to the report on investment intentions.
After the People’s Council at the same administrative level
has granted their consent, district-level and communal People’s Committee shall
submit the report on investment intentions to the provincial People’s
Committee. The provincial People’s Committee shall assign their Department of
Planning and Investment to carry out the appraisal of investment portfolio and
portfolio balancing capability before submitting the report on investment
intentions to the Ministry of Planning and Investment;
c) The Ministry of Planning and Investment shall lead and
cooperate with the Ministry of Finance to perform the appraisal of investment
portfolio and portfolio balancing capability;
d)
The provincial People’s Committee shall direct the accomplishment of the report
on investment intentions in compliance with the appraisal result from the
Ministry of Planning and Investment;
dd) The People’s Committee shall submit the decision on
investment intentions, granted to the investment project, to the People’s
Council at the same administrative level, which comprises required information
such as objective, size, total investment, capital structure, site location,
execution schedule and progress.
3. 3) In terms of Group-C projects that are not governed by
the regulations specified in Clause 2 of this Article:
a) With regard to investment projects managed by the
provincial People’s Committee, the Department of Planning and Investment shall
be assigned to carry out the appraisal of investment portfolio and portfolio
balancing capability before submitting the report on investment intentions to
the Ministry of Planning and Investment;
b) With regard to investment projects managed by district-level
or communal People’s Committee, the President of district-level or communal
People’s Committee must send the report on investment intentions to the
provincial People’s Committee. The provincial People’s Committee shall assign the
Department of Planning and Investment to carry out the appraisal of investment
portfolio and portfolio balancing capability before submitting the report on
investment intentions to the Ministry of Planning and Investment;
c) The Ministry of Planning and Investment shall lead and
cooperate with the Ministry of Finance to perform the appraisal of investment
portfolio and portfolio balancing capability;
d)
The provincial People’s Committee shall direct the accomplishment of the report
on investment intentions in compliance with the appraisal result from the
Ministry of Planning and Investment;
dd) The People’s Committee at all administrative levels
shall make the decision on investment intentions which comprises required
information such as objective, size, total investment, capital structure, site
location, execution schedule and progress.
Article 28. Processes and procedures for the decision on
investment intentions for public investment programs totally financed by local
balanced fund allocated from the state budget and funds derived from local
government bond, state budget revenues that are retained but not recorded in
the local budget balance as well as other loans secured by the local budget to
serve the public investment purpose
1. Program leader is responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment intentions;
c) Submit the complete report on investment intentions to
the People’s Committee at the same administrative level.
2. The President of People’s Committee at all
administrative levels is responsible to:
a) With regard to provincially-managed investment programs,
the President of the provincial People’s Committee shall establish a Council
for the appraisal as prescribed at Point b Clause 2 Article 23 of this Law or
assign the Department of Planning and Investment to lead and cooperate with
relevant agencies to perform the appraisal of the report on investment
intentions, investment portfolio and portfolio balancing capability;
b) With regard to investment programs managed by
district-level or communal authorities, the President of district-level or
communal People’s Committee must establish a Council for the appraisal of the
report on investment intentions, investment portfolio and portfolio balancing
capability.
3. Program leader must accomplish the report on investment
intentions for public investment program for submission to the People’s
Committee at the same administrative level.
4.
The People’s Committee must submit the decision on investment intentions to the
People’s Council at the same administrative level.
5. Given the appraisal result regulated in Clause 2 of this
Article, the People’s Council at all administrative levels shall make a decision
on investment intentions, enclosing required information such as objective,
size, total investment, site location, execution schedule and progress of
public investment programs or projects.
Article 29. Processes and procedures for the decision on
investment intentions for Group-B projects and Group-C priority projects
financed by local balanced fund allocated from the state budget and funds
derived from local government bond, state budget revenues that are retained but
not recorded in the local budget balance as well as other loans secured by the
local budget to serve the public investment purpose
1. The agency that has been assigned to prepare the report
on investment intentions must be responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment intentions;
c) Submit the complete report on investment intentions to
the People’s Committee at the same administrative level.
2. With regard to investment projects financed by local
balanced fund allocated from the state budget to the province and funds derived
from revenues that are retained but not recorded in the provincial budget
balance as well as other loans secured by the local budget to serve the public
investment purpose:
a) The President of the provincial People’s Committee shall
establish a Council for the appraisal as prescribed at Point b Clause 2 Article
23 of this Law or assign the Department of Planning and Investment to lead and
cooperate with relevant agencies to perform the appraisal of the report on
investment intentions, investment portfolio and portfolio balancing capability;
With regard to investment projects managed by the local
authorities at district and communal administrative levels, the People’s
Council at the same administrative level shall be advised by district-level or
communal People’s Committee to seek their consent to the report on investment
intentions.
b) Given the appraisal result stipulated at Point a of this
Clause, the assigned agency in charge of the preparation of the report on
investment intentions shall send the complete report to provincial People’s
Committee which shall be then submitted to provincial People’s Council to seek
their consent to the decision on investment intentions, which encloses required
information such as objective, size, total investment, site location and
execution schedule.
3. With regard to investment projects financed by balanced
budget at district and communal administrative levels and fund derived from
revenues of state budget that have been retained but not recorded in the local
budget at district and communal administrative levels, the district-level or
communal People’s Committee must submit the report on investment intentions to
the People’s Council at the same administrative level, which encloses required
information such as objective, size, total investment, site location and
execution schedule.
Article 30. Processes and procedures for the decision on
investment intentions for Group-C projects financed by local balanced fund
allocated from the state budget at provincial administrative level and funds
derived from local government bond, state budget revenues that are retained but
not recorded in the local budget balance at the provincial administrative level
as well as other loans secured by the local budget to serve the public
investment purpose
1. The assigned agency in charge of the preparation of the
report on investment intentions must be responsible to:
a) Assign their affiliates to compile the report on
investment intentions;
b) Assign a competent unit or establish a Council to
appraise the report on investment intentions;
c) Submit the complete report on investment intentions to
the provincial People’s Committee.
2. The Department of Planning and Investment shall lead and
cooperate with relevant agencies to perform the appraisal of the report on
investment intentions, investment portfolio and portfolio balancing capability.
3. Given the appraisal result stipulated in Clause 2 of
this Article, the assigned agency in charge of the preparation of the report on
investment intentions must submit the complete report on investment intentions
to provincial People’s Committee.
4.
The provincial People’s Committee shall make a decision on investment
intentions which encloses required information such as objective, size, total
investment, site location, execution schedule and progress.
Article 31. Processes and procedures for the decision on
investment intentions for Group-C projects financed by local balanced fund
allocated from the state budget at district or communal administrative levels
and funds derived from revenues that are retained but not recorded in the local
budget balance at district or communal administrative levels
1. As regards investment projects financed by balanced fund
allocated from local state budget at district administrative level and fund
derived from revenues that have been retained but not recorded in local state
budget at district administrative level:
a) The President of district-level People’s Committee must
assign a competent agency or communal People’s Committee to prepare the report
on investment intentions and establish a Council for the appraisal of the
report on investment intentions, investment portfolio and portfolio balancing
capability;
b) The assigned agency in charge of the report on
investment intentions must submit the complete report to district-level
People’s Committee;
c)
The People’s Committee of a district must make a decision on investment
intentions which encloses required information such as objective, size, total
investment, capital structure, site location, execution schedule and progress.
2. In terms of investment projects financed by balanced
fund allocated from local state budget at communal administrative level and
fund derived from revenues that have been retained but not recorded in local
state budget at communal administrative level:
a) The President of communal People’s Committee must
prepare the report on investment intentions and establish a Council for the
appraisal of the report on investment intentions, investment portfolio and
portfolio balancing capability;
b)
The communal People’s Committee must make a decision on investment intentions
which encloses required information such as objective, size, total investment,
capital structure, site location, execution schedule and progress.
Article 32. Rules, processes and procedures for the
decision on investment intentions for investment projects financed by government
loan capital intended for investment and development
1. The decision on investment intentions for projects
financed by government loan capital intended for investment and development
must be aimed at proper entities or sectors stipulated by legal regulations.
2. Processes and procedures for the decision on investment
intentions:
a) With regard to national important project, processes and
procedures for deciding on investment intentions must conform to regulations
specified in Article 19, 20 and 21 of this Law;
b) With regard to Group-A projects, processes and
procedures for making the decision on investment intentions must conform to
Article 23 of this Law;
c) With regard to Group-B and Group-C projects managed by
Ministries and central regulatory bodies, processes and procedures for making
the decision on investment intentions must conform with Article 26 of this Law;
d) With regard to Group-B and Group-C managed by the
central committee of Vietnamese Fatherland Front and socio-political institutions
as well as other relevant agencies or organizations, processes and procedures
for deciding on investment intentions must conform to Article 25 of this Law;
dd) With regard to Group-B and Group-C managed by
provincial People’s Committee, processes and procedures for deciding on
investment intentions must conform to Article 29 and 30 of this Law.
Article 33. Rules, processes and procedures for the
decision on investment intentions for emergency projects and projects to be
developed in the form of public-private partnership
1. The decision on investment intentions for emergency
projects is aimed at timely overcoming the aftermaths of natural disasters and
other unexpected circumstances as well as ensuring the effective use of the
budget capital for public investment, avoiding any possible loss and
mismanagement.
2. The decision on investment intentions for projects to be
developed in the form of public-private partnership must conform to the
following rules:
a) Comply with regulated requirements set out in Article 18
of this Law;
b) Ensure the sound management of the budget capital for
public investment;
c) Facilitate investors and project management enterprises
to play their active role in managing and using their contributed capital
during the project development and execution, which conforms with investment
objectives and commitments to the Government.
3. Procedural steps and contents of the decision on
investment intentions for emergency projects and investment projects to be
developed or executed in the form of public-private partnerships:
a) With regard to national important project, procedural
steps and contents of the decision on investment intentions must conform to
regulations specified in Article 19, 20 and 21 of this Law;
b) With regard to investment projects that are not subject
to the regulations specified at Point a of this Clause, procedural steps and
contents of the decision on investment intentions must conform to legal
regulations.
Article 34. Contents of the decision on investment intentions
on public investment programs
Major contents of the decision on investment intentions on
public investment programs include:
1. Significance of investment programs in fulfilling
objectives of socio-economic development strategy, planning and proposal;
2. Objective, coverage and size of an investment program;
3. Estimation of total investment and resource structuring
for the program execution which enclose the list of projects or investment
entities, the capability of balancing the budget capital for public investment
and mobilizing other capital sources and resources;
4. Proposed progress of program execution which must
conform to practical conditions and the capability of mobilizing different
resources according to the proper priority with the aim of ensuring the
sufficient and effective investment;
5. Determination of expenses incurred from the execution of
an investment program and operation costs upon completion of an investment
program;
6. Initial analysis and evaluation of impacts on the
environment and social issues as well as measurement of the socio-economic
effectiveness;
7. Classification of subprojects according to legal
regulations;
8. Approaches to the execution of investment programs or
projects.
Article 35. Contents of pre-feasibility study report for
national important projects and Group-A projects
1. Contents of pre-feasibility study report for national
important projects and Group-A construction projects must conform to legal
regulations on construction activities.
2. Major contents of pre-feasibility study report for
national important projects and Group-A non-construction projects are not the
integral part must include:
a) Significance, requirement and evaluation of suitability
of investment programs or projects for the investment planning and proposal;
b) Forecast of demands and supplies; proposed objectives,
size and form of the public investment;
c) Site location, estimation of demands for land area and
other resources;
d) Initial analysis and selection of technological
application as well as capability of supplying raw materials, tools, machinery,
equipment, energy, services and infrastructural facilities;
dd) Initial analysis and selection of investment plans and
size of investment projects;
e) General plan for site clearance compensation,
residential resettlement, environmental protection measures;
g) Initial analysis and evaluation of impacts on the
environment and society;
h) Preliminary estimate of total investment, initiatives
for capital mobilization and structuring;
i) Preliminary estimate of costs incurred from operation,
maintenance activities and major repairs;
k) Proposed progress of project execution and staging of
investment projects;
l) Preliminary estimate of effectiveness in socio-economic
development;
m) Determination of parts of projects or subprojects (if
any);
n) Approaches to the execution of investment programs or
projects.
Article 36. Contents of the report on investment intentions
for Group-B and Group-C investment projects
Major contents of the report on investment intentions for
Group-B and Group-C investment projects include:
1. The significance and requirements as well as evaluation
of the suitability of investment projects for investment planning and proposal;
2. Objectives, size, site location and coverage of
investment projects;
3. Estimate of total investment, capital structure, the
balancing capability of public investment portfolio, mobilization of different
funds and resources for the project execution;
4. Proposed schedule of investment project execution in
conformity with practical conditions and capability of resource mobilization in
a proper order of priority, which ensures sufficient and effective investment;
5. Preliminary estimate of relevant costs incurred from the
project execution and operating costs incurred upon completion of an investment
project;
6. Analysis and preliminary evaluation of environmental and
social impacts; preliminary assessment on the effectiveness of an investment
project in terms of the socio-economic aspect;
7. Subordinate projects or subprojects (if any);
8. Approaches to the execution of investment programs or
projects.
Article 37. Application documents, contents and schedule of
project appraisal and decision on investment intentions for public investment
programs and projects
Article 37. Application documents, contents and schedule of
project appraisal, decision on investment intentions, investment portfolio
evaluation and portfolio balancing capability for public investment programs
and projects must conform to legal regulations.
Article 38. Decentralization of investment portfolio
appraisal and portfolio balancing capability for public investment programs and
projects
1. The Ministry of Planning and Investment shall take the
leading role in performing the appraisal of investment portfolio and portfolio
balancing capability for:
a) National target program;
b) Target program subject to the Government’s decision on
investment intentions;
c) National important project;
d) Investment projects financed by central budget and
government bond;
dd) Projects financed by ODA fund and overseas concessional
loans;
e) Investment projects managed by central bodies and
central committee of Vietnam Fatherland Front, socio-political institutions,
other agencies and organizations, financed by government loans on investment
and development activities and retained revenues of the state budget that have
not been recorded in the state budget balance;
g) Investment projects financed by other funds according to
legal regulations.
2. Before sending all relevant documents to the Ministry of
Planning and Investment as prescribed in Clause 1 of this Article, Heads of
central bodies and central committee of Vietnam Fatherland Front,
socio-political institutions, other agencies and organizations must assign an
investment management agency to perform preliminary assessment on investment
portfolio and portfolio balancing capability for public investment programs and
projects.
3. The President of the provincial People’s Committee shall
assign the Department of Planning and Investment to direct and cooperate with
related agencies to perform the appraisal of investment portfolio and portfolio
balancing capability for the following programs or projects under their
jurisdiction:
a) Investment program or project financed by the central
budget, government bond, ODA fund and overseas concessional loans before
provincial People’s Committee sends all relevant documents to the Ministry of
Planning and Investment;
b) Investment program or project financed by provincial
balanced fund allocated from the state budget and funds derived from retained
revenues of the state budget that have not been recorded in the provincial
budget balance as well as other loans secured by the local budget to serve the
public investment purpose;
c) Investment project financed by government loans on
investment and development activities.
4. The President of district-level or communal People’s
Committee shall be assigned to appraise investment portfolio and portfolio
balancing capability for following investment programs or projects under their
jurisdiction:
a) Investment program or project financed by local balanced
fund allocated from the state budget to a district or commune and funds derived
from retained revenues of the state budget that have not been recorded in the
local budget balance as well as other loans secured by the local budget to
serve the public investment purpose;
b) Before sending all relevant documents regarding public
investment activities, an assessment on the central budget, government bond,
ODA fund and overseas concessional loans as well as provincial balanced funds
allocated from the state budget, local government bond must be carried out;
c) Investment project financed by government loans on
investment and development activities.
Section 2: DESIGN, APPRAISAL AND INVESTMENT DECISION FOR
PUBLIC INVESTMENT PROGRAM OR PROJECT
Article 39. Authority to make the decision on investment
program or project
1. The Prime Minister shall have the authority to decide on
following projects or programs:
a) National target program and national important projects
approved by the National Assembly;
b) Target program subject to the Government’s decision on
investment intentions;
c) Investment programs and projects financed by ODA fund
and overseas concessional loans on security, national defence, religion and
other programs or projects regulated by the Government.
2. Heads of central bodies and central committee of Vietnam
Fatherland Front, socio-political institutions and other agencies or
organizations are granted the authority to decide on:
a) Group-A, Group-B and Group-C investment projects
financed by the state budget, government bond and fund derived from government
loans on investment and development activities as well as state budget revenues
that are retained for public investment but not recorded in the state budget
balance;
b) Group-A, Group-B and Group-C investment projects
financed by ODA funds and funds derived from overseas concessional funds under
their jurisdiction, exclusive of those regulated at Point Circular Clause 1 of
this Article;
c) After decentralization or authorization, these entities
have the authority to decide on Group-B and Group-C investment projects
proposed by their subordinate agencies as stipulated at Point a and Point b of
this Clause.
3. The President of the provincial People’s Committee has
the authority to decide on:
a) Investment program entirely financed by provincial
balanced fund allocated from the state budget and funds derived from government
loans on investment and development activities, local government bonds or
retained revenues of the state budget that have not been recorded in the
provincial budget balance as well as other loans secured by the local budget to
serve the public investment purpose;
b) Group-A, Group-B and Group-C projects investment
projects under provincial administration, exclusive of those regulated at Point
c Clause 1 of this Article;
c) After decentralization or authorization, (s)he has the
authority to decide on Group-B and Group-C investment projects proposed by
subordinate agencies as stipulated at Point b of this Clause.
4. The President of the People’s Committee of a district or
commune has the authority to decide on:
a) Investment program totally financed by balanced budget
at district and communal administrative levels and fund derived from revenues
of the state budget that have been retained but not recorded in the local
budget at district and communal administrative levels, which is under the decision-making
authority of the People’s Council of a district or commune;
b) Group-B and Group-C investment projects financed by
local balanced fund allocated from the state budget at district or communal
administrative levels and funds derived from revenues of the state budget that
are retained but not recorded in the local budget balance at district or
communal administrative levels;
c) The President of People’s Committee of a district shall
have the authority to assign and designate subordinate agencies to decide on
investment projects as prescribed at Point b of this Clause.
Article 40. Bases for formulation, appraisal and decision
for public investment program or project
1. Socio-economic development strategy and plan.
2. Socio-economic and sectoral development planning.
3. Significance of public investment program and project.
4. Objective of public investment program or project.
5. Investment intention decided by competent authorities.
6. Capability of mobilizing and balancing investment
portfolio and other funds for investment program or project.
Article 41. Procedural steps of formulation, appraisal and
decision for national target program
1. Based on the investment intention decided by the
National Assembly, Program leader must submit feasibility study report to the
Prime Minister.
2. The Prime Minister shall found the State Council for the
appraisal of public investment program chaired by the Minister of Planning and
Investment.
3. The State Council must perform the appraisal of contents
as regulated in Clause 1 Article 47 and Clause 2 Article 48 of this Law.
4. Given the appraisal result of the State Council, Program
leader must send feasibility study report and draft decision on investment
program to the State Council for submission to the Prime Minister.
5. The Prime Minister shall consider and make the final
decision.
Article 42. Procedural steps of formulation, appraisal and
decision for public investment program under the Prime Minister's authority to
decide on investment intentions
1. Based on the investment intention decided by the Prime
Minister, Program leader must formulate and appraise the investment program for
submission to the Prime Minister as prescribed by laws.
2. The Ministry of Planning and Investment must appraise
all relevant contents regulated in Clause 1 Article 47 and Clause 2 Article 48
of this Law.
3. Program leader must send feasibility study report and
draft decision on investment program to the State Council for submission to the
Prime Minister.
4. The Prime Minister shall consider and make the final
decision.
Article 43. Procedural steps of formulation, appraisal and
decision for public investment program under the People Council's authority to
decide on investment intentions
1. Based on the investment intention decided by the
People’s Council, Program leader must formulate and appraise the investment
program for submission to the People’s Committee at the same administrative
level as prescribed by laws.
2.
The People’s Committee shall perform the appraisal of contents regulated in
Clause 1 Article 47 and Clause 2 Article 48 of this Law.
3. Program leader must accomplish a perfect program and
draft investment decision for submission to the President of the People’s
Committee for consideration and decision.
Article 44. Procedural steps of formulation, appraisal and
decision for public investment project
1. In terms of national important project:
a) Based on the investment intention decided by the
National Assembly, Program leader must send the feasibility study report for
the investment project to the governing body for consideration and submission
to the Prime Minister;
b) The Ministry of Planning and Investment shall report the
Prime Minister to establish the State Council for the appraisal of investment
projects;
c) The State Council must perform the appraisal of contents
as regulated in Clause 2 and 3 of Article 47 and Clause 2 of Article 48 of this
Law;
d) Given the appraisal result, investors must report a
complete investment project to their governing agencies for their approval
before sending it to the State Council for the appraisal;
dd) The State Council of the appraisal must submit all
relevant documents regarding the investment project to the Prime Minister for
consideration and decision on the investment project.
2. In terms of non-construction projects :
a) Given the investment intention decided by competent
authorities, Program leader must make a complete feasibility study report for
submission to competent authorities for their investment decision;
b) Heads of central bodies and central committee of Vietnam
Fatherland Front, socio-political institutions and other agencies or
organizations as well as the President of the People’s Committee at all
administrative levels must establish the Council for the appraisal or assign
investment management agency to perform the appraisal of investment project;
c) The appraisal council or investment management agency
shall assess contents regulated in Clause 2 Article 47 and Clause 2 Article 48
of this Law;
d) Competent authorities shall decide on the investment
after investors complete their feasibility study reports with reference to the
appraisal result regulated at Point C of this Clause.
3. Procedural steps of formulation, appraisal and decision
for construction investment projects must abide by legal regulations on
construction and other relevant laws, exclusive of national important projects.
4. Procedural steps and contents of formulation, appraisal
and decision for investment projects to be developed and executed in the form
of public-private partnership must abide by legal regulations, exclusive of
national important projects.
Article 45. Procedural steps of formulation, appraisal and
decision for investment program or project financed by ODA funds and overseas
concessional loans
1. After obtaining the decision on investment intentions,
the governing body shall issue the decision on investment intentions and assign
investors to cooperate with donors to submit complete feasibility study reports
for investment programs or projects to competent authorities for their decision
on investment program or project.
2. In respect of investment program or project under the
Prime Minister’s jurisdiction as prescribed at Point c Clause 1 Article 39 of
this Law:
a) Procedural steps of formulation, appraisal and decision
for national target program and national important project shall comply with
regulations specified in Article 41 and Clause 1 Article 44 of this Law;
b) The Ministry of Planning and Investment shall appraise
feasibility study report for other investment projects for submission to the
Prime Minister for the consideration and decision.
3. Head of the governing body must be responsible to
perform the appraisal and make investment decision for investment program or
project under their decision-making authority.
4. In terms of investment project or program financed by
ODA fund and overseas concessional loans subject to domestic financial
mechanism in the form of on-lending, the formulation and appraisal of investment
program or project shall comply with this Law; financial plans for investment
program or project, investor’s financial competence as prescribed in the law on
public debt management and other relevant laws must be appraised as well.
5. The agency who is assigned to lead the appraisal must
call for contributing opinions from relevant agencies, consider procedural
steps and progress of program or project execution as well as seek advice from
donors.
Article 46. Adjustment to investment program or project
1. Competent authorities who have the authority to decide
on investment program as stipulated in Article 39 of this Law must carry out
the adjustment to investment programs in case of:
a) Objectives and conditions of investment program
execution have been changed in the socio-economic development strategy,
planning and proposal;
b) Investment intentions of competent authorities have been
changed or suspended;
c) Due to unexpected circumstances, investment objectives
and contents and costs and schedule of program execution have been changed.
2. Competent authorities who make the decision on
investment projects according to regulations specified in Article 39 of this
Law must adjust the investment project in case of:
a) Due to unexpected circumstances, investment objectives
and contents and costs and schedule of program execution have been changed.
b) Due to aftermaths of natural disasters and other
unexpected circumstances that occur after the expiry date of investment project
insurance;
c) Elements that help to bring about higher efficiency in
terms of financial and socio-economic issues appear, which is generated from
the adjustment to investment project and appraised by competent agencies;
d) Adjustment to investment planning can impact the
investment project;
dd) Price index during the project execution is higher than
that used to calculate the rate of price slippage in proportion to total
investment decided by competent authorities.
3. Competent authorities are only entitled to adjust
investment program and project after examination and assessment according to
regulations set out in this Law.
4.
Procedural steps and contents of formulation and appraisal of adjusted
investment program or project shall adhere to legal regulations.
1. A feasibility study report on the public investment
program must include:
a) The necessary for investment;
b) Assessment of current conditions of sector and field
conformable to the targets and within the scope of the program; emergency
issues needing handled;
c) General and specific objectives, result and important
targets in each stage;
d) Scale and scope of the program;
dd) The subprojects constituting the program that must be
run in order to achieve the objectives of the program, order of priority and
time for carrying out such projects;
e) The estimated total capital to run the program, capital
allocation according to the objectives, subprojects and time for
implementation; capital sources and plan for capital mobilization;
g) Proposed schedule and progress of program execution;
h) Methods of running the program; policies on the program;
the probability of integration with other programs;
i) Request for international cooperation (if any);
k) The implementation of the program;
l) Evaluation of socio-economic effectiveness of the
program.
2. A feasibility study report on non-construction projects
must include:
a) The necessary for investment;
b) Assessment of conformity with the socio-economic development
planning, sectoral development planning;
c) Analysis and determination of objectives, mandates and
output result of the project; analysis and selection of suitable scale;
determination of investment stages; selection of investment methods;
d) Analysis of natural conditions, technical-economic
conditions and selection of investment location;
dd) Analysis and selection of technical methods,
technology, equipment;
e) Plan for management and use of the project;
g) Environmental impact assessment and environmental
protection measures;
h) Plan for compensation, site clearance and relocation;
i) Proposed progress and timeline of project execution;
k) Total investment, capital sources and plan for capital
mobilization;
l) The cost of operation, maintenance and repair in the
stage of project execution;
m) Project management including determination of investor,
selection of methods of management, relationship and responsibilities of the
entities related to the execution of the project and management of the project
execution;
n) Analysis of investment efficiency including
effectiveness and impacts on society, economy, security and defence; recovery
of capital (if any).
3. The feasibility study reports on construction projects
must comply with the regulations of the law on construction and other relevant
laws.
Article 48. Applications, contents and time for assessment
of programs and projects
1. An application for assessment of programs and projects
includes:
a) A written request for assessment of programs and projects;
b) A feasibility study report on programs and projects;
c) Relevant documents.
2. Contents and time for assessment of programs and
projects must comply with the regulations of the Government.
Chapter III
FORMULATION, ASSESSMENT,
APPROVAL AND ASSIGNMENT OF PLANS FOR PUBLIC INVESTMENT
Section 1: GENERAL PROVISIONS
Article 49. Classification of plans for public investment
1. The plans for public investment that are classified
according to time limit include:
a) Medium-term plans for public investment that are
formulated for 05 years and conformable with the 5-year-plans for
socio-economic development ;
a) Annual plans that are used for implementing the
medium-term plans, balancing annual capital budget for public investment and
conformable with the targets of the annual plans for socio-economic
development.
2. The plans for public investment that are classified
according to decentralization include:
c) National plans for public investment;
b) Plans for public investment of Ministries and central
authorities;
b)
Plans for public investment of local authorities.
3. The plans for public investment that are classified
according capital sources include:
a) Investment plans funded by central budget, including
investment in sectors and fields of Ministries, central authorities, central
authorities of Vietnamese Fatherland Front, socio-political organizations, and
other organizations and the projects on public investment funded by central
budget for Ministries, regulatory authorities and local authorities;
b) Investment plans financed by local revenues from the
State budget;
c) Investment plans financed by revenues which are retained
but not recorded in the State budget balance;
d) Investment plans financed by funds derived from
Government bonds;
dd) Investment plan financed by loan capital from the
State;
e) Investment plans financed by funds derived from
municipal bonds and other loan capital from the local budget;
g) Investment plans financed by funds derived from ODA and
overseas concessional loans.
Article 50. Bases for formulation of annual and medium-term
plans for public investment
1. Bases for formulation of a medium-term plan for public
investment are:
a) The implementation of the 5-year-plan for socio-economic
development and the medium-term plan for public investment in the previous
stage and the result of such implementation;
b) The socio-economic development strategy, the
5-year-plans for socio-economic development of Vietnam, sector, field and
province; national debt strategy; priorities in the 5-year-investment plan of
Vietnam, sector, field and province
c) The approved sectoral development planning and other
relevant plans;
d) Requirements and prediction about the mobilization of
the investment sources for construction of socio-economic infrastructure;
ability to balance the capital from the State budget, capital from Government
bonds, capital generated from revenues which are retained but not recorded in
the State budget balance;
dd) Prediction about the effects of the national and
international issues on the development and mobilization of the investment
capital sources;
e) Policies to attract the investment capital from the
economic sectors to construct the socio-economic infrastructure.
2. Bases for formulation of an annual plan for public investment
are:
a) The implementation of the plan for socio-economic
development of Vietnam, sector, field and province and the result of such
development; result of the implementation of the plan for public investment in
the previous year;
b) Annual plan for socio-economic development;
c) Medium-term plan for public investment; emergency tasks
that are not specified in the medium-term plan for public investment;
d) Requirements and ability to balance the capital sources
to construct the socio-economic infrastructure in the plan year.
Article 51. Principles to formulate annual and medium-term
plans for public investment
1. Such plans must conform to the targets of the
socio-economic development strategy, annual or 5-year-plans for socio-economic
development of Vietnam, sectors, fields, provinces and approved planning.
2.
Such plans must conform to the ability to balance the capital budget for public
investment and attract the capital from other economic sectors; secure the
government debt.
3. The allocation of capital budget for public investment
must comply with the principles, criteria, limit in each stage, which is
approved by the competent authorities.
4. The capital shall be preferably allocated to the
sectors, fields and provinces according to the targets and orientation to the
development in each stage.
5. The transparency, impartiality and equality must be
ensured.
6. There must be consistent management of targets and
policies; division in management of investment under the regulations of the law
to give more autonomy to the Ministries, regulatory authorities and local
authorities and enhance the investment effectiveness.
7. Each annual plan for public investment must conform to
the approved medium-term plan for public investment.
Article 52. Contents of a report on medium plan for public
investment submitted to competent authorities for approval
1. The implementation and result of the implementation of
the investment plan in the previous stage.
2. Targets for socio-economic development; targets and
orientation toward medium-term investment.
3. Ability to mobilize and balance capital, the budget
estimate to achieve the targets and perform the tasks in the socio-economic
development, sectors and fields in the medium term, including the capital used
for preparing investment, running the project, reimbursing the advance and
repaying the loan capital from the local budget.
4. Principles and criteria of allocation of capital of
medium-term plan for public investment.
5. The order of priority, list of projects and the capital
allocated to each project in the medium term which is conformable to the
ability to balance the capital budget for public investment and the ability to
mobilize the capital from other sources to achieve the targets, perform the
tasks and follow the orientation towards 05-year-plan for socio-economic
development.
6. Methods of implementation and estimated result.
Article 53. Contents of a report on annual plan for public
investment submitted to competent authorities for approval
1. The implementation of the plan for public investment in
the previous year.
2. Orientation towards public investment in the plan year.
3. Ability to mobilize and balance the capital sources in
the plan year.
4. List of projects and the specific amount of capital
allocated to each project that is conformable to the list of projects of the
medium-term plan for public investment and the ability to balance the annual
capital sources.
5. The methods of management, implementation and estimated
result.
Article 54. Principles to allocate capital of annual and
medium-term plans for public investment to programs and projects
1. The programs and projects that do not belong to public
investment shall not be allocated capital in order to achieve the targets,
orientation towards strategy and plan for socio-economic development and
approved planning.
2. The capital allocation must comply with the principles,
criteria and limit that are regulated by the competent authorities.
3. The capital budget for public investment shall be preferably
allocated to finish and accelerate the process of the national programs and
projects, major programs and projects that significantly affect the
socio-economic development of Vietnam and authorities.
4. The capital shall be allocated according to the order of
priority as follows:
a) The projects that are finished and used having
insufficient capital; projects that shall be completed on schedule; reciprocal
capital for the projects using ODA and overseas concessional loans; capital
from the Stage engaged in the projects following the method of Public-Private
Partnerships;
b) The projects that are transferred to be carried out
according to the approved rate of progress;
c) New projects satisfying the requirements prescribed in
Clause 5 this Article.
5. The capital shall be allocated to the new programs and
projects must satisfy these requirements:
a) The programs and projects are necessary and eligible to
be allocated capital in accordance with the regulations in Article 55 and
Article 56 of this Law;
b) The capital has been allocated to repay the outstanding
debts arising from infrastructural construction in accordance with the
regulations in Clause 2 Article 106 of this Law;
c) Sufficient amount of capital shall be allocated to
finish the programs and projects on schedule.
6. The Government shall decide the rate of the reserve
capital in the medium-term plans for public investment to deal with the
problems occurring during the implementation of the medium-term plans for
public investment.
Article 55. Requirements for programs and projects eligible
for allocation of capital in medium-term plans for public investment
1. The competent authorities have decided the investment
policies.
2. The capital sources and ability to balance the capital
to run the programs and projects must be specified.
3. The programs and projects must comply with the
regulations of the law on principles and criteria of allocation of capital
budget for public investment.
Article 56. Requirements for programs and projects eligible
for allocation of capital in annual term plans for public investment
1. The programs and projects must be in the list of
medium-term plans for public investment, except for the emergency projects
prescribed in Clause 1 and Clause 3 Article 33 of this Law.
2. The programs and projects are approved by the competent
authorities.
3. The International Agreement on ODA and concessional
loans is concluded regarding the programs and projects using the ODA and
overseas concessional loans.
4. The new projects shall be allocated capital after the
procedures for investment are completed under the regulations of the
Government.
Article 57. Capital for investment preparation and
implementation of projects in annual and medium-term plans for public
investment
1. The capital for investment preparation shall be used
for:
a) establishing, assessing and deciding the investment
policies on the projects;
a) establishing, assessing and deciding the investment in
the projects.
2. The capital for implementation of projects shall be used
for clearing site, producing technical design, producing construction design,
making project estimate or the items of the projects and running the finished
projects having insufficient capital, projects scheduled to be completed,
projects in process and new projects.
3. The capital for investment preparation and
implementation of projects shall be balanced under the regulations of the
Government.
Article 58. Procedures for formulation and assessment of
medium-term plans for public investment
1. The Prime Minister shall promulgate the regulations on
the formulation of the medium-term plan for public investment for the next
stage including targets, orientation and assignment of the formulation of the
medium-term plan for public investment according to the targets, orientation
and the 05-year-plan for socio-economic development before the March 31 in the
fourth year of the medium-term plan for public investment in the previous
stage.
2. The Ministry of Planning and Investment shall provide
instructions on targets, requirements, contents, deadline and process of the
medium-term plan in the next stage for the Ministries, regulatory authorities
and local authorities prior to May 15 in the fourth year in the previous stage.
3. According to the regulations promulgated by the Prime
Minister and instructions provided by the Ministry of Planning and Investment,
the Ministries, central authorities, central authorities of Vietnamese
Fatherland Front, socio-political organizations and other organizations shall:
a) designate the regulatory authorities in charge of
investment to provide instructions on the formulation of the medium-term plan
for public investment;
b) designate the affiliated units to use capital budget for
public investment to formulate the medium-term plan for public investment in
the next stage within their competence and send a report to the superior
authorities for consideration before September 15 in the fourth year of the
medium-term plan for public investment in the previous stage and send the plan
to the regulatory authorities in charge of investment before October 15 in the
fourth year of the medium-term plan for public investment in the previous
stage;
c) designate the regulatory authorities in charge of
investment to assess the medium-term plan for public investment in the next
stage before November 15 in the fourth year of the medium-term plan for public
investment in the previous stage;
d) designate the regulatory authorities in charge of
investment to formulate the medium-term plan for public investment, send it to
the competent authorities for consideration and send it to the Ministry of
Planning and Investment and the Ministry of Finance before December 31 in the
fourth year of the medium-term plan for public investment in the previous
stage.
4. According to the regulations promulgated by the Prime
Minister and instructions provided by the Ministry of Planning and Investment
and the People’s Committees of provinces:
a) instruct the local authorities and units to formulate
the medium-term plan for public investment in the next stage before June 15 in
the fourth year of the medium-term plan for public investment in the previous
stage.
b) designate the units using the capital budget for public
investment to formulate and assess the medium-term plan for public investment
in the previous stage within their competence, send a report to the superior
authorities for consideration before September 15 in the fourth year of the
medium-term plan for public investment in the previous stage and send the plan
to the provincial Departments of Planning and Investment before October 15 in
the fourth year of the medium-term plan for public investment in the previous
stage;
c) conduct assessment or designate the provincial
Departments of Planning and Investment to conduct assessment of the medium-term
plans for public investment of provincial departments, divisions and units
before November 15 in the fourth year of the medium-term plans for public
investment in the previous stage;
d) designate the provincial Departments of Planning and
Investment to formulate the provincial medium-term plans for public investment
and send them to the People’s Committees of provinces before November 30 in the
fourth year of the medium-term plan for public investment in the previous stage;
dd) request the People’s Councils of provinces to give
opinions about the medium-term plans for public investment in the next stage
including the specific list of projects using capital budget for public
investment and allocated rate of each project;
e) complete the medium-term plan for public investment and
send it to the Ministry of Planning and Investment and the Ministry of Finance
before December 31 in the fourth year of the medium-term plan for public
investment in the previous stage.
5.
The People’s Committees of districts shall conduct assessment or designate the
regulatory authorities in charge of investment to assess their medium-term
plans for public investment , request the People’s Councils of districts to
give opinions and send them to the People’s Committees of provinces in
accordance to the regulations in Clause 4 this Article.
6. The Ministry of Finance shall take charge and cooperate
with the Ministry of Planning and Investment in making the Stage budget
estimate in the next stage; determining the ability to mobilize the capital
from Government bonds before January 31 in the fifth year of the medium-term
plan for public investment in the previous stage.
7. From February 01 to April 30 in the fifth year of the
medium-term plans for public investment in the previous stage, the Ministry of
Planning and Investment shall take charge of assessing such plans and the plan
for capital allocation including:
a)
Medium-term plans for public investment financed by funds derived from the
State budget, Government bonds, loan capital from the State, ODA and overseas
concessional loans, revenues which are retained but not recorded in the State
budget balance of the Ministries, central authorities, central authorities of
Vietnamese Fatherland Front, socio-political organizations and other
organizations;
b) Medium-term plans for investment financed by funds
derived from central budget, Government bonds, ODA and overseas concessional
loans of the People’s Committees of provinces.
8. After receiving the result of assessment conducted by
the Ministry of Planning and Investment, the People’s Committee of province
shall:
a) designate the People’s Committee of district to complete
the its medium-term plan for public investment, request the People’s Council of
district to give opinions and send it to the People’s Committee of province
before May 31 in the fifth year of the medium-term plan for public investment
in the previous stage;
b) designate the provincial Department of Planning and
Investment to complete its medium-term plan for public investment, request the
People’s Committee of province to send it to People’s Council of province
before June 15 in the fifth year of the medium-term plan for public investment
in the previous stage;
e) complete the medium-term plan for public investment in
the next stage and send it to the Ministry of Planning and Investment and the
Ministry of Finance before June 30 in the fifth year of the medium-term plan
for public investment in the previous stage.
9. After receiving the assessment result of the Ministry of
Planning and Investment, every Ministry, central authority, authority of
Vietnamese Fatherland Front, socio-political organization and other
organization shall complete the medium-term plan for public investment in the
next stage and send it to the Ministry of Planning and Investment and the
Ministry of Finance before June 30 in the fifth year of the medium-term plan
for public investment in the previous stage.
10. The Ministry of Planning and Investment shall report
the medium-term plans for public investment before July 31 in the fifth year of
the medium-term plan for public investment in the previous stage.
Article 59. Procedures for formulation and assessment of
annual plans for public investment
1. The Prime Minister shall provide regulations on the
formulation of the plan for socio-economic development and state budget
estimates in the next year including targets, orientation and assignment to
formulate the plan for public investment in the next year before May 15 each year.
2. The Ministry of Planning and Investment shall provide
instructions on the plan for socio-economic development, targets, requirements,
contents, deadline and process of formulation of plan for public investment in
the next year before June 15 each year.
3. Every Ministry, regulatory authority and local authority
shall instruct their inferior units to formulate the plan for public investment
in the next year before June 30 each year.
4. Every regulatory authority in charge of investment, the
provincial Departments of Planning and Investment shall formulate, assess and
summarize the plans for public investment for the next year within their
competence and send a report to the People’s Committees at the same level
before July 20 each year.
5. The People’s Committee shall request the People’s
Council at the same level to approve the draft of the plan for public
investment for the next year including the list of projects and allocated rate
for each project according to each capital source and send the approved draft
of the plan to the inferior authority before July 25 each year.
6. Every Ministry, regulatory authority and local authority
shall complete the plan for public investment for the next year and send it to
the Ministry of Planning and Investment and the Ministry of Finance before July
31 each year.
7. The Ministry of Finance shall take charge and cooperate
with the Ministry of Planning and Investment in estimating the receipts and
expenditures using the State budget and investment from the State budget, and
issuing Government bonds for the plan in the next year before August 15 each
year.
8. The Ministry of Planning and Investment shall take
charge of assessing the plan for public investment for the next year and plan
to allocate capital including:
a) Capital from the State budget, capital from Government
bonds, loan capital from the State, ODA and overseas concessional loans of the
Ministries, regulatory authorities and local authorities;
b) Capital generated from revenues which are retained but
not recorded in the state budget balance of the Ministries, central
authorities, central authorities of Vietnamese Fatherland Front,
socio-political organizations and other organizations.
9. After receiving the assessment result of the Ministry of
Planning and Investment, every Ministry, regulatory authority and local
authority shall complete the plan for public investment for the next year and
send it to the Ministry of Planning and Investment and the Ministry of Finance
before September 10 each year.
10. The Ministry of Planning and Investment shall summarize
the national plan for public investment for the next year and report that to
the Government before September 20 each year.
11. The procedures for formulation and assessment of annual
plans for public investment shall be administered by the authorities of
districts under the regulations of the Government.
Section 2: FORMULATION, ASSESSMENT, APPROVAL AND ASSIGNMENT
OF INVESTMENT PLANS FINANCED BY FUNDS DERIVED FROM STATE BUDGET, GOVERNMENT
BONDS, MUNICIPAL BONDS, REVENUES WHICH ARE RETAINED BUT NOT RECORDED IN STATE
BUDGET BALANCE AND LOAN CAPITAL FROM LOCAL BUDGET
Article 60. Principles to make list of projects and plan
for budget allocated to each project in annual and medium-term plan funded by
State budget
1. Comply with the regulations in Articles 54, 55, 56 and
57 of this Law.
2. Conform to the ability to balance the capital from the
State budget in the annual and medium-term plan for public investment and the
estimated ability to mobilize other capital sources regarding the projects
using different capital sources.
3. Belong to the approved programs and tasks using
development investment expenditures funded by the State budget.
4. Capital and ability to balance capital shall be assessed
by competent authorities regarding the projects funded by the State budget that
are not their jurisdiction.
5. Conform to the principles, criteria and allocation rate
of development investment capital from the State budget in each period under
the regulations of the Government.
6. Do not exceed the total capital of the approved programs
and projects.
Article 61. Principles to make list of projects and plan
for budget allocated to each project in annual and medium-term investment plan
using local revenues from the State budget
1. Comply with the regulations in Articles 54, 55, 56, 57
and Clause 5, Clause 6 in Article 60 of this Law.
2.
Conform to the revenues and expenditures from the local budget, annual and
medium-term plan for public investment, the mobilization of other capital
sources in case of projects using different capital sources.
3. Belong to the approved programs and tasks using
development investment expenditures funded by the local revenues from the State
budget.
4. Capital and ability to balance capital shall be assessed
by competent authorities regarding the projects funded by local budget that are
not their jurisdiction.
Article 62. Principles to make list of projects and plan
for budget allocated to each project in annual and medium-term investment plan
using capital generated from revenues which are retained but not recorded in
the State budget balance.
1. The compilation of the list of projects and plan for
budget allocated to each project in annual and medium-term investment plan
using capital generated from revenues which are retained but not recorded in
the State budget balance must comply with the regulations in Article 60 of this
Law.
2. The allocation and use of capital generated from
revenues which are retained but not recorded in the State budget balance must
conform to the targets prescribed in the Resolution of the National Assembly
and regulations of the Government.
Article 63. Principles to make list of projects and plan
for budget allocated to each project in annual and medium-term investment plan
financed by funds derived from municipal bonds and other loan capital from the
local budget
1. Comply with the regulations in Article 51 and Article 54
of this Law.
2. Conform to the mobilization of loan capital and other
capital resources.
3. Ensure the balance of local budget to repay the capital
from municipal bonds and other loan capital from the local budget according to
the date of repayment.
4. Do not use the target transfers from the central budget
and capital from Government bonds to repay the capital from municipal bonds and
other loans from the local budget.
5. Do not use the local revenues from the State budget to
pay the interest and fees for the capital from municipal bonds and other loan
capital from the local budget, except for the interest and fees included in the
approved total investment in each project.
6. The projects financed by funds derived from municipal
bonds and other loan capital from the local budget must be included in the list
of projects in the approved medium investment plan funded by the State budget.
The capital allocated to the projects must not exceed the capital for the
approved medium investment plan funded by the State budget.
7. The projects using other loan capital from the local
budget must be included in the in the list of projects in the approved medium
investment plan funded by the State budget. The capital allocated to the
projects must not exceed the capital for the approved medium investment plan
funded by the State budget.
Article 64. Principles to make list of projects and plan
for budget allocated to each project in annual and medium-term plan financed by
funds derived from Government bonds
1. Comply with the regulations in Articles 54, 55, 56 and
57 of this Law.
2. Conform to the mobilization of capital from Government
bonds in the annual and medium-term plan for public investment.
3. Use the capital from Government bonds.
4. The capital sources and ability to balance the capital
has been assessed by the competent authorities.
5.
Conform to the principles, criteria and allocation rate of capital from
Government bonds in each period under the regulations of the Government.
6. Do not exceed the total capital of the approved programs
and projects.
Article 65. Submitting, approving and assigning medium-term
investment plan financed by funds derived from State budget and Government
bonds
1. The Government shall submit the medium-term plan for
public investment financed by funds derived from the State budget and
Government bonds for the next stage before October 20 in the fifth year of the
medium-term plan for public investment for the previous stage.
2. Before November 10 in the fifth year of the medium-term
plan for public investment for the previous stage, the National Assembly shall
decide the medium-term plan for public investment for the next stage,
including:
a) Targets and orientation towards the medium-term
investment financed by funds derived from the State budget and Government
bonds;
b) Total investment funded by the State budget;
c) Total capital from Government bonds;
d) List of national target programs and projects of
national importance;
dd) Solutions and policies to implement the medium-term
plan for public investment.
3. The Prime Minister shall assign the medium-term plan for
public investment financed by funds derived from the State budget and
Government bonds to the Ministries, regulatory authorities and local
authorities before December 10 in the fifth year of the medium-term plan for
public investment for the previous stage.
4. The Ministry of Planning and Investment shall assign the
medium-term plan for public investment financed by funds derived from central
budget and Government bonds to the Ministries, regulatory authorities and local
authorities before December 31 in the fifth year of the medium-plan for public
investment for the previous stage.
Article 66. Submitting, approving and assigning annual
investment plan financed by funds derived from State budget and Government
bonds
1. The Government shall submit the investment plan funded
by the State budget for the next year before October 20 each year.
2. The National Assembly shall decide the investment plan
funded by the State budget for the next year before November 20 each year.
3. The Government shall decide the total investment in the
plan for public investment financed by funds derived from Government bonds for
the next year according to the total capital from Government bonds that is
decided by the National Assembly in the medium-term plan for public investment
before November 20 each year.
4. The Prime Minister shall assign the plan for public
investment funded by the State budget for the next year according to the total
capital decided by the provided for the National Assembly to the Ministries,
regulatory authorities and local authorities before November 30 each year.
5. The Prime Minister shall assign the list and total
capital of the plan for public investment funded by the central budget and
Government bonds for the next year to the Ministries, regulatory authorities
and local authorities before December 15 each year.
6. The Ministry of Planning and Investment shall assign the
list and investment for the next year funded by the central budget and
Government bonds of each project to the Ministries, Regulatory authorities and
local authorities before December 20 each year.
7. The Ministries, regulatory authorities and local
authorities shall assign the investment plan financed by funds derived from
central budget and Government bonds for the next year to the units before
December 31 each year.
Article 67. Submitting, approving and assigning medium-term
plan for public investment financed by funds derived from local revenues from
the State budget, municipal bonds, revenues which are retained but not recorded
in the state budget balance and other loan capital from the local budget
1. The People’s Committee shall submit the medium-term plan
for public investment to the People’s Council at the same level before November
10 in the fifth year of the medium-term plan for public investment for the
previous term. Such submitted plan must include the list of programs and
projects and the capital allocated to each project according to each capital
source provided for the medium-term plan for public investment.
2. The People’s Councils of provinces shall decide the
medium-term plan for public investment including total capital for the
medium-term plan for public investment and the amount of capital allocated to
each project according to each capital source before December 20 in the fifth
year of the medium-term plan for public investment for in the previous stage.
3. The People’s Councils of districts shall decide the
medium-term plan for public investment including total capital for the
medium-term plan for public investment, the list and the amount of local
revenues from the State budget and revenues which are retained but not recorded
in the state budget balance allocated to each project before December 25 in the
fifth year of the medium-term plan for public investment in the previous term.
4. The People's Committees shall assign the medium-term
plan for public investment to the units before December 31 in the fifth year of
the medium-term plan for public investment in the previous stage.
Article 68. Submitting, approving and assigning annual plan
for public investment financed by funds derived from local revenues from the
State budget, municipal bonds, revenues which are retained but not recorded in
state budget balance and other loan capital from local budget
1. The People’s Committee shall submit the investment plan
for the next year including the list and the amount of capital allocated to
each project according to each capital source to the People’s Council at the
same level before November 20 each year.
2. The People’s Councils of provinces shall decide the
investment plan for the next year including the list and amount of capital
allocated to each project according to each project before December 10 each
year.
3. The People’s Councils of districts shall decide the
investment plan for the next year including the list and the amount of local
revenues from the State budget and capital generated from revenues which are
retained but not recorded in the state budget balance allocated to each project
before December 20 each year.
4. The People’s Committees shall assign the investment plan
to the units before December 31 each year.
Section 3: FORMULATION, ASSESSMENT, APPROVAL AND ASSIGNMENT
OF INVESTMENT PLANS USING LOAN CAPITAL FROM THE STATE, ODA AND OVERSEAS
CONCESSIONAL LOANS
Article 69. Formulation, assessment, approval and
assignment of investment plans using loan capital from the State
1. Requirements for formulation of an investment plan using
loan capital from the State are:
a) The project in the sector or field allowed to use the loan
capital from the State must ensure the recovery of capital, effectiveness and
solvency;
b) The investor must use the loan capital for the right
purposes; repay sufficient loan and interest on time according to the credit
agreement; fulfill the commitments in the contract and comply with the
regulations of the law.
The Government shall specify the sectors, fields and
provide the capital rate for the projects using the loan capital from the
State; specify the assessment of the financial plan, plan to repay the loan
capital of each project.
2. The establishment and assessment of the annual and
medium-term plans for investment using the loan capital from the State must
comply with the regulations in Articles 50, 51, 52, 53, 55, 56, 58 and 59 of
this Law.
3. A medium-term plan for investment using loan capital
from the State shall be assigned as follows:
a) The Prime Minister shall assign the medium-term plan for
investment using loan capital from the State of the next stage before December
10 in the fifth year of the medium-term plan for investment of the previous
stage;
a) The Ministry of Planning and Investment shall assign the
medium-term plan for investment using loan capital from the State of the next
stage according to the sector, field and program before December 31 in the
fifth year of the medium-term plan for investment of the previous stage;
4. An annual plan for investment using loan capital from
the State shall be assigned as follows:
a) The Prime Minister shall assign the investment plan for
the next year before December 15 each year;
b) The Ministry of Planning and Investment shall assign the
investment plan for the next year according to sectors, fields and program
before December 20 each year.
Article 70. Principles to make annual and medium-term plans
for public investment using ODA and overseas concessional loans
1. Each annual and medium-term plan for public investment
using ODA and overseas concessional loans must be made based on the plan to run
the annual programs and projects that are approved by competent authorities and
the rate of progress agreed with the foreign donors.
2. Each annual and medium-term plan using ODA and overseas
concessional loans must satisfy these following requirements:
a) The contents must be specified according to each
component; each primary activity of programs and projects; each sponsored
capital and counterpart fund resource and other capital resource; fundamental
description and bases for determining each item;
b) The regulatory authority shall made and submit the plan
for ODA, overseas concessional loans and counterpart fund according to the
expenditures of programs and projects (if the programs and projects are funded
by the investment funds and State budget;
c) If the programs and projects are governed by several
units, each unit shall make a plan for the proportion of the project for which
it is responsible. The managing authority shall summarize the master plan for
the programs and projects;
d) The counterpart fund in the annual and medium-term plan
for public investment shall be balanced in compliance with the agreement signed
with the foreign donors and the actual annual disbursement of the programs and
projects. Fund derives from ODA and overseas concessional loans shall be
used as reciprocal capital of that is approved by the Prime Minister and
foreign donors.
Article 71. Formulating, assessing and approving investment
plans funded ODA and overseas concessional loans
1. The investment plans funded ODA and overseas
concessional loans shall be formulated, assessed and approved in accordance
with the regulations in Articles 50, 51, 52, 53, 55, 56, 58, 59 and 70 of this
Law.
2. The overall plan and annual detailed plan for programs
and projects shall be made as follows:
a) The overall investment plan shall be made for the whole
duration of the implementation of programs and projects and include all of the
components, items, resources and rate of progress;
b) The program leaders and investors shall cooperate with
the donors in making, updating or inspecting the overall investment plan and
submitting it to the governing body for consideration and approval according to
the documents on the approved programs and projects an the International
Agreement on ODA and overseas concessional loans within 45 days from the conclusion
of the International Agreement on ODA and overseas concessional loans.
c) With regard to the programs and projects composed of
several components, the investment plan for programs and projects shall include
the overall plan and detailed plan for each component. The Head of the
governing body in charge of programs and projects shall approve the general
plan for programs and projects; the Head of governing body in charge of plans
for components shall approve such plans;
d) The governing body shall send the Decision on approval
enclosed with the investment plan for programs and projects to the Ministry of
Planning and Investment, relevant authorities and donors to facilitate the
supervision, assessment and implementation of programs and projects within 10
days from the approval for the investment plan for programs and projects.
3. Each plan funded ODA and overseas concessional loans
shall be submitted, approved and assigned as follows:
a) The plan funded by ODA and overseas concessional loans
included in the State budget shall be submitted, approve and assigned in
accordance with the regulations in Article 65 and 66 of this Law;
a) The plan funded by ODA and overseas concessional loans
that are applied the domestic financial mechanism shall be submitted, approved
and assigned following the method of on-lend in accordance with the regulations
in Article 69 of this Law.
Chapter IV
IMPLEMENTATION,
SUPERVISION, INSPECTION AND ASSESSMENT OF PLANS FOR PUBLIC INVESTMENT
Section 1: IMPLEMENTATION OF PLANS FOR PUBLIC INVESTMENT
Article 72. Operation of plans for public investment
1. Pursuant to the Resolution of the National Assembly on
the annual and medium-term plans for public investment, the Government shall
provide instructions on the implementation.
2. Pursuant to the Resolution of the National Assembly,
Decision to assign the plans of the competent authorities, Resolution of the
People’s Councils on the annual and medium-term plans for public investment,
the Ministries, regulatory authorities, local authorities, the People’s
Committees of districts and the units using the capital budget for public
investment shall give instructions on the operation of the plans for public
investment using the capital under their management.
3. The Prime Minister shall administer and integrate the
capital sources to implement the programs financed by funds derived from the
State budget, the Government bonds of the Ministries, regulatory authorities,
local authorities and units using the capital budget for public investment provided
that the targets of the programs and projects shall not be changed.
4. The Presidents of the People’s Committees of provinces
shall administer and integrate the capital sources to run the programs and
projects financed by the funds derived from local revenues from the State
budget, municipal bonds, capital generated from provincial revenues which are
retained but not recorded in the state budget balance and other loan capital
from the local budget provided that the targets for the programs and projects
shall not be changed.
Article 73. Compliance with plans for public investment
1. The Ministries, regulatory authorities, local
authorities and the People’s Committees of districts shall:
a) Announce or assign the plans for public investment to
the units using the capital budget for public investment;
b) Report the assignment to the plans for public investment
to the competent authorities.
2. The units using the capital budget for public investment
shall report the implementation of the plans to the competent authorities under
the regulations of the Government.
3. The Ministry of Planning and Investment and professional
agency in charge of public investment management shall conduct inspection to
ensure the assignment and compliance with the plans for public investment
according to the Decision of the competent authorities.
Article 74. Implementation of plans for public investment
1. The Ministries, regulatory authorities, local
authorities, the People’s Committees of districts and units using the capital budget
for public investment shall:
a) Implement the plans for public investment according to
the targets approved by the competent authorities;
b) Carry out the projects on schedule according to the
capital plans approved by the competent authorities;
c) Make the plans for auction and appointment of
contractors regarding the contracts of the projects that are allocated capital
according to the plans for public investment that are approved by the competent
authorities;
d) Inspect and make payment according to the contracts that
are finished and transferred;
dd) Balance the capital sources to pay off the outstanding
debts derived from infrastructural development in accordance with the
regulations in Clause 2 Article 106 of this Law;
e) Ensure the scope and scale of each project according to
the targets, fields and programs that are approved and according to the capital
plans that are implemented;
g) Supervise, inspect and assess the implementation of the
plans for public investment.
2. The Ministry of Planning and Investment shall instruct,
supervise and inspect the implementation of the annual and medium-term plans
for public investment of the Ministries, central authorities and the People’s
Committees of provinces.
3. The Ministry of Finance shall provide the capital
according to the plans for public investment that are approved by the competent
authorities.
4. The Government shall provide instructions on the
implementation of the plans for public investment.
Article 75. Adjustment to plans for public investment
1. The National Assembly shall make overall adjustment to
the annual and medium-term plans for investment financed by funds derived from
the State budget and Government bonds when:
a) There is adjustment to the targets for the strategy and
national plan for socio-economic development;
b) There are dramatic changes in the balance of the State
budget or the mobilization of capital sources.
2.
The National Assembly Standing committee shall make adjustment to the annual
and medium-term plans for investment financed by funds derived from the State
budget and Government bonds among the Ministries, regulatory authorities and
local authorities if the total capital of the annual and medium-term plans for
investment that are approved by the National Assembly is not be changed.
3. According to the conditions in each period, the Prime
Minister shall adjust:
a)
the medium-term plans for investment financed by funds derived from the central
budget and the Government bonds of the appointed Ministries, regulatory authorities
and local authorities in accordance with the regulations in Clause 3 Article 65
of this Law in the total capital of each Ministry, regulatory authority and
local authority that is approved by the National Assembly;
b) the annual plans for investment financed by funds
derived from the central budget and Government bonds among the sectors, fields
and programs of the entities prescribed in Clause 4 and Clause 5 Article 66 of
this Law;
c)
Annual and medium-term plans for investment using loan capital from the State;
d)
Annual and medium-term plans for investment in programs and projects using ODA
and overseas concessional loans used in such governing bodies.
4. The Ministry of Planning and Investment shall:
a) Take charge of assessing the plan to adjust the annual
and medium-term plans for investment financed by funds derived from central
budget, Government bonds and bonds among the sectors, fields and programs of
the Ministries, regulatory authorities and local authorities and send reports
to the Prime Minister for consideration;
a) Take charge of assessing the plan to adjust the
medium-term plans for investment financed by funds derived from central budget,
Government bonds used for the sectors, fields and programs of the Ministries,
regulatory authorities and local authorities and send reports to the Prime
Minister for consideration;
c) Adjust the annual plans for investment financed by funds
derived from central budget and Government bonds in the sectors, fields and
programs of the Ministries, regulatory authorities and local authorities
provided that such capital must not exceed the total capital of the medium-term
investment plan of each project that is approved by the competent authorities.
The Ministry of Planning and Investment shall report the adjustment
to the previous investment plan prescribed in this point to the Prime Minister
before March 31 each year.
5. The People’s Councils of provinces shall adjust the
annual and medium-term plans for investment financed by funds derived from
local revenues from the State budget, the municipal bonds, revenues which are
retained but not recorded in the state budget balance and other loan capital
from the local budget when:
a) There is adjustment to the targets local plan for
socio-economic development;
b) There are dramatic changes in the balance of local
budget revenues or the mobilization of capital sources;
c) There are changes in the use or and the amount of
capital of the annual plans among the local authorities and units.
6.
The People’s Committees shall adjust the annual and medium-term plans for
investment financed by funds derived from the local revenues from the State
budget, municipal bonds, revenues which are retained but not recorded in the
state budget balance and other loan capital from the local budget used for
investing among the sectors, fields and programs and in the sectors, fields and
programs of the units using such capital and send report to the People’s
Council at the same level in the next meetings.
Article 76. Time for disbursement of capital of annual and
medium-term plans for public investment
1. With regard to the projects financed by funds derived
from the State budget, Government bonds, municipal bonds and the revenues which
are retained but not recorded in the state budget balance:
a) The capital of a medium-term plan for public investment
must be disbursed before December 31 in the initial year of the plan for public
investment in the later stage;
b) The capital of a plan for public investment shall be
disbursed until the following year. The time for disbursement can be extended
in special cases or cases approved by competent authorities. Such extension
must not exceed the medium-term plan for public investment.
2. With regard to the programs and projects using ODA and
overseas concessional loans:
a) The capital of an annual or medium-term plan for public
investment in compliance with the International Agreement on ODA and
concessional loans signed with the foreign donors;
b) The amount of the foreign capital of an annual plan for
public investment shall be disbursed in proportion to the progress of the
capital provision by the foreign donors.
3. With regard to any project using the loan capital from
the State, other loan capital from the local budget, such capital shall be disbursed
in proportion to the date of repayment.
Section 2: SUPERVISION, INSPECTION, ASSESSMENT OF PLANS,
PROGRAMS AND PROJECTS ON PUBLIC INVESTMENT
Article 77. Supervising and inspecting plans for public
investment
1. The professional agency in charge of public investment
management shall supervise and inspect the plans for public investment of the
units under their management.
2. The regulatory authorities in charge of public
investment shall supervise and inspect:
a) The compliance with the regulation of the law on public
investment;
b) The establishment, assessment, approval and assignment
of the plans for public investment;
b) The establishment, assessment, approval and
implementation of the programs and projects mentioned in the plans for public
investment;
d) The implementation of the plans for public investment;
dd) The outstanding debts arising from infrastructural
construction and loss on public investment.
Article 78. Assessment of plans for public investment
1. Article 78. Assessment of plans for public investment
2.
The annual plan for public investment shall be assessed quarterly and annually.
3. The contents of the plans for public investment that are
assessed are:
a) The performance of the plans that are approved by the
competent authorities.
b) Effects of the plans for public investment on attracting
the investors from other capital sources and the consequence of socio-economic
development;
c) The feasibility of the plans for public investment;
d) The management of public investment;
dd) The remaining issues; the reasons and solutions to such
remaining issues.
Article 79. Supervising and inspecting programs and
projects
1. The governing bodies, program leaders, investors and the
competent persons to decide the investment in the programs and projects and the
competent authorities in charge of public investment shall supervise and
inspect the investment in the programs and projects according to the contents
and targets that are approved to ensure the targets and investment
effectiveness.
2. The programs and projects shall be inspected as follows:
a) The program leaders and investors shall inspect the
programs and projects that they are assigned;
b) The governing bodies, competent persons to decide the
investment shall conduct at least one inspection of programs and projects to be
completed after 12 months;
b) The governing bodies, competent persons to decide the
investment shall conduct inspection when there is adjustment to the programs
and projects leading to the change of the location, targets, scope, the
increase in the total investment and other necessary cases;
d) The competent authorities in charge of public investment
shall conduct scheduled or surprise inspection of the programs and projects.
Article 80. Assessment of programs and projects
1. Assessment of programs and projects includes initial,
midterm, final or stage assessment, impact assessment and surprise assessment.
2. It is required to conduct midterm or stage assessment,
final assessment and impact assessment of the plans for public assessment.
3. It is required to conduct initial, midterm, final
assessment and impact assessment of the projects of national importance and
group-A-projects.
4. It is required to conduct final assessment and impact
assessment of the projects of national importance and group-A-projects.
5. In addition to the regulations in Clauses 2, 3 and 4
this Article, the governing bodies and competent persons to decide the
investment and the competent authorities in charge of public investment shall
conduct other forms assessment prescribed in Clause 1 this Article if
necessary.
Article 81. Assessed contents of programs and projects
1. It is required to conduct initial assessment of:
a) The preparation, organization and mobilization of the
resources to implement the programs and projects provided in order to ensure
the approved targets and progress.
b) Problems occurring after the programs and projects are
approved;
c) Solutions to the problems that are conformable with the
actual conditions.
2. It is required to conduct midterm and stage assessment
of:
a) The conformity of the result of the implementation of
the programs and projects to the investment targets;
b) The performance of the workload at the time of
assessment in proportion to the approve plan;
c) The necessary solutions including the adjustment to the
programs and projects.
3. It is required to conduct final assessment of:
a) The process of the implementation of the programs and
projects including: the result of the implementation of the targets of the
programs and projects; the mobilized resources; the advantages that the
beneficiaries receive from the programs and projects, the impacts and the
stability of the programs and projects;
b) The experience from the implementation of the programs
and projects and the necessary recommendations; responsibilities of the
advisory organizations, governing bodies, program leaders, investors, competent
persons to decide the investment policies, investment and the relevant
entities.
4. It is required to conduct impact assessment of:
a) The economic-technological operation;
b) The socio-economic impacts;
b) Impacts on environment and ecosystem;
d) The stability of the projects;
dd) The experience from the investment policies, Decision
on investment, implementation and operation of the programs and projects;
responsibilities of the advisory organizations, governing bodies, program
leaders, Investors, competent persons to decide investment policies, investment
and relevant entities.
5. It is required to conduct surprise assessment of:
a) The conformity of the result of the implementation of
the programs and projects to the investment targets at the time of assessment;
b) The performance of the workload at the time of
assessment in proportion to the approve plan;
c) Unexpected problems (if any), reason for such problems
and responsibilities of the relevant entities;
d) The effects and the seriousness of the effects of the
unexpected problems on the implementation of the programs and projects, the
capability to achieve the targets of the programs and projects;
dd) Necessary solutions.
Article 82. Public investment supervision
1. The programs and projects shall be supervised by the
community. The Vietnamese Fatherland Front shall take charge of the investment
project by the community.
2. The governing body shall collect the opinions of the
residential community at the places where the projects are carried out about
the Decision on investment in the projects of national importance,
group-A-projects, projects requiring the major relocation, projects that are
likely to exert dramatic effects on the environment, projects directly
affecting the socio-economic conditions of the residential community at the
places where the projects are carried out and the opinions about the investment
policies, construction, location, sewage treatment, environment protection,
compensation, site clearance and plans for relocation under the regulations of
the law.
3. The community shall supervise:
a) the compliance with the regulations of the law on
investment, construction land, waste treatment and environment protection;
b) compensation, site clearance and plan for relocation
provided that the benefits of locals are secured;
c) programs and projects funded by an amount of the locals'
contribution;
d) the implementation and rate of progress of programs and
projects;
dd) the compliance with the regulations in Article 14 of
this Law;
e) negative effects on the community’s benefits; negative
effects on community's living environment during the investment and
implementation of projects; activities leading to loss of fund and property of
projects.
Article 83. Procedures for public supervision
1. The Vietnamese Fatherland Front shall take charge and
cooperate with the socio-political organizations and relevant authorities in:
a) formulating the plan for the public supervision on the
annual local programs and projects according to the regulations in the Clause 3
Article 82 of this Law;
b) establishing the public supervision team for each
program and project;
c) notifying the program leaders, investors and the
managing Board of the programs and projects of the supervision plan and the
members of the local investment supervision team within 45 days prior to the
implementation.
2. The program leaders, investors and managing Board of the
programs and projects shall:
a) Provide sufficient and accurate documents related to the
execution of the programs and projects prescribed in Clause 2 Article 82 of
this law for the public investment supervision team;
b) Facilitate the public investment supervision team under
the regulations of the law.
c) Enhance the measures to carry out the projects.
Article 84. Supervising, inspecting and evaluating plans,
programs and projects
1. The program leaders and investors shall conduct initial,
mid-term and final supervision, inspection and assessment of the programs and
projects.
2. The governing body, investment decision-makers and the
regulatory authorities in charge of public investment shall conduct
supervision, impact assessment and surprise assessment of the programs and
projects under their management.
3. The assessing body shall conduct assessment or employ
eligible experts or advisory organizations to conduct assessment.
4. The Government shall give instructions on the
supervision, inspection and assessment of the plans, programs and projects and
public investment supervision.
Article 85. Inspection of public investment
1. The inspection of the management and use of the capital
budget for public investment must comply with the regulations of this Law and
other relevant laws.
2. The inspection of the public investment must be
associated with the functions and duties of the entities and must follow the
procedures for inspection under the regulations of the law on inspection.
3. The result of the inspection of public investment
activities must be published under the regulations of the law. In case of any
violation against the law on public investment, the inspecting authority shall
impose penalties within their competence or transfer the dossiers on the
violation to the competent authorities for consideration.
Chapter V
OBLIGATIONS, ENTITLEMENTS
AND RESPONSIBILITIES OF AUTHORITIES, ORGANIZATIONS AND INDIVIDUALS INVOLVED IN
PUBLIC INVESTMENT ACTIVITIES
Article 86. Obligations and entitlements of National
Assembly
1. Promulgate laws and Resolutions on public investment.
2. Decide the investment policies on the national target
programs and projects using the public investment capital.
3. Decide and adjust the annual and medium-term plans for
public investment.
4. Adjust the criteria used for classifying the projects of
national importance.
5. Supervise the implementation of the plans for public
investment, national target programs and projects of national importance;
supervise the compliance with the law on public investment.
Article 87. Obligations and entitlements of Government
1. Ensure consistent management of public investment.
2. Request the National Assembly to promulgate the laws and
resolutions; request the National Assembly Standing Committee to promulgate the
ordinances and resolutions on public investment.
3. Promulgate the legal documents on management of public
investment.
4. Request the National Assembly to decide the investment
policies on the national target programs and projects of national importance.
5. Decide the investment policies on the target programs in
accordance with the regulations in Clause 2 Article 17 of this Law.
6. Formulate the annual and medium-term plans for public
investment and request the National Assembly to decide and adjust them.
7. Implement the annual and medium-term plans for public
investment.
8. Report the implementation of the annual and medium-term
plans for public investment, national target programs and projects of national
importance to the National Assembly.
9. Inspect the implementation of the annual and medium-term
plans for public investment; inspect the execution of the programs and projects
financed by funds derived from central budget and government bonds; inspect the
targets and investment policies on public investment of the local authorities.
Article 88. Obligations and entitlements of Ministry of
Planning and Investment
1. Be responsible to the Government for the consistent
management of public investment.
2. Promulgate or request the competent authorities to
promulgate the legal documents related to public investment, principles,
criteria, allocated rate and use of the capital budget for investment.
3. Take charge and cooperate with the Ministry of Finance
in determining the total funds from the State budget, government bonds and loan
capital from the State used for the annual and medium-term plans for public
investment.
4. Present the national annual and medium-term plans for
public investment to the Government.
5. Adjust or request the competent authorities to adjust
the annual and medium-term plans for public investment.
6. Be responsible to the Government for the consistent
management of ODA and overseas concessional loans; take charge of management
and use of the ODA and overseas concessional loans.
7. Take charge and cooperate with the relevant authorities
in assessing the capital and ability to balance the capital of the projects
financed by funds derived from the central budget, the government bonds and
other capital under the regulations of the law.
8. Be responsible to the Government for the consistent
management of the national target programs.
9. Implement, supervise, inspect and evaluate the plans,
programs and projects and other management obligations of public investment.
Article 89. Obligations and entitlements of Ministry of
Finance
1. Cooperate with the Ministry of Planning and Investment
in formulating the annual and medium-term plans for public investment.
2. Take charge and cooperate with the Ministry of Planning
and Investment in determining the total funds from the State budget, government
bonds and loan capital from the State used for the annual and medium-term plans
for public investment.
3. Take charge and cooperate with the Ministry of Planning
and Investment in assessing the capital and ability to balance the capital of
the projects financed by funds derived from the central budget, the government
bonds and other capital under the regulations of the law.
4. Take charge and cooperate with the Ministry of Planning
and Investment in instructing the local financial authorities to balance the
regular budget to pay the expenditure used for formulating, assessing and
deciding the investment policies, approving the Decisions on investment in the
programs, maintaining and operating the projects in use.
5. Report the disbursement and finalization of the plans,
programs and projects to the Government.
Article 90. Obligations and entitlements of Ministries and
central authorities
1. Manage public investment under the regulations of the
law.
2. Promulgate, direct, inspect and supervise the conformity
with the standards and eco-technical norms.
3. Decide the investment policies on the programs and
projects in accordance with the regulations in Clause 4 Article 17 of this Law
and decide the investment in the programs and projects in accordance with the
regulations in Clause 2 Article 39 of this Law.
4. Formulate the plans for public investment.
5. Supervise, evaluate, inspect and supervise the
implementation of the plans, programs and projects within their management.
6. Report the implementation of the plans, programs and
projects and the result of such implementation.
7. Cooperate with the Ministries, regulatory authorities
and local authorities in implementing the plans, programs and projects
according to the assigned obligations.
Article 91. Obligations and entitlements of the People’s
Councils
1. The People’s Councils shall:
a) decide the investment policies and investment programs
financed by funds derived from local revenues from the State budget, municipal
bonds, revenues which are retained but not recorded in the state budget balance
and other loan capital from the local budget;
b) consider and comment on the investment policies on the
local group-B- projects and group-C- major projects financed by funds derived
from the central budget and the Government bonds;
c) decide the investment policies on the programs and
projects in accordance with the regulations in Clause 5 Article 17 of this Law;
d) consider and comment on the local annual and medium-term
plans for public investment including the catalogues and the allocated rate of
each project financed by funds derived from the central budget and Government
bonds;
dd) decide the local annual and medium-term plans for
public investment including the list and the capital allocated to each project
financed by funds derived from local revenues from the State budget, loan
capital from the State, municipal bonds, revenues which are retained but not
recorded in the State budget balance and other loan capital from the local
budget.
e) Supervise the projects financed by capital budget for
public investment allocated to the local authorities including the funds
derived from the central budget, Government bonds, local revenues from the
state budget, loan capital from the State, municipal bonds, ODA and overseas
concessional loans, revenues which are retained but not recorded in the State
budget balance and other loan capital from the local budget.
2. In addition to the obligations and entitlements
prescribed in Clause 1 this Article, the People’s Councils of provinces shall:
b) consider and comment on the investment policies on the
local group-A- projects;
b) decide the criteria of the local major projects which are
conformable with the targets, development orientation, financial capacity and
the specific characteristics of such provinces.
Article 92. Obligations and entitlements of the People’s
Committees of provinces
1. Manage the public investment within their competence
under the regulations of the law.
2. Request the People’s Councils of provinces to consider:
a) deciding the investment policies and investment programs
financed by funds derived from the municipal bonds, revenues which are retained
but not recorded in the State budget balance and other loan capital from the
local budget.
b) commenting on the investment policies on the projects
within the competence of the Prime Minister in accordance of the regulations in
Clause 3 Article 17 of this Law;
c) deciding on the investment policies on the group-B-
projects and group-C- major projects under their management in accordance with
the regulations in Point b, Clause 5 Article 17 of this Law;
d) commenting on the annual and medium-term plans for
public investment financed by funds derived from the central budget, the
Government bonds, ODA and the overseas concessional loans in accordance with
the lists and allocated rate of each project;
dd) deciding the local annual and medium-term plans for
public investment financed by funds derived from local revenues from the State
budget, municipal bonds, loan capital from the State, revenues which are
retained but not recorded in the State budget balance and other loan capital
from the local budget.
3. Decide the investment policies on the projects in
accordance with the regulations in Clause 6 Article 17 of this Law and decide
the investment in the programs and projects in accordance with the regulations
in Clause 3 Article 39 of this Law.
4. Implement, supervise and evaluate the plans for public
investment using the capital budget within their competence.
5. Cooperate with the Ministries and central authorities in
executing, supervising, inspecting and evaluating the programs and projects in
such provinces.
Article 93. Obligations and entitlements of the People’s
Committees of districts
1. Formulate the annual and medium-term plans for public
investment under their management.
2. Assess the programs and projects under their management.
Request the People’s Councils of districts to:
a) decide the investment policies and investment programs
financed funds derived from the local budget in accordance with the allocated
rate of the capital and revenues which are retained but not recorded in the
State budget balance of districts.
b) give opinions about the investment policies on the
projects under the management of the Prime Minister in accordance of the
regulations in Clause 3 Article 17 of this Law and of the superior People’s
Councils;
c) deciding on the investment policies on the group-B-
projects and group-C- major projects under their management in accordance with
the regulations in Point b, Clause 5 Article 17 of this Law;
dd) deciding the local annual and medium-term plans for
public investment financed by funds derived from revenues which are retained
but not recorded in the State budget balance of districts.
4. Decide the investment policies on the projects in
accordance with the regulations in Clause 6 Article 17 of this Law and decide
the investment in the programs and projects in accordance with the regulations
in Clause 4 Article 39 of this Law.
5. Implement, supervise, evaluate and inspect the plans,
programs and projects and other management authorities related to the public
investment according to the division of management.
6.
Cooperate with the relevant authorities and organizations in executing,
supervising, inspecting and evaluating the programs and projects in such
districts.
Article 94. Obligations and entitlements of the State audit
1. Decide the annual audit plan for the plans, programs and
projects and notify the National Assembly and the Government prior to the
implementation.
2. Conduct annual audit, specialized audits and audits of
the plans, programs and projects at the request of the National Assembly,
National Assembly Standing Committee, Government and Prime Minister.
3. Report the result of the annual audit, specialized audit
and auditors’ requests related to the plans, programs and projects to the
National Assembly and National Assembly Standing Committee.
4. Announce the audits of the plans, programs and projects
under the regulations of the law.
Article 95. Obligations and entitlements of Vietnamese
Fatherland Front
1. Take charge of supervision on the investment in the
programs and projects in accordance with the regulations in Clause 1 and Clause
3 Article 82 of this Law and other relevant laws.
2. Collect the opinions of the community about the
investment policies on the local programs and projects in accordance with the
regulations of Clause 2 Article 82 of this Law and regulations of the law on
democratic practice at communes, wards and towns.
Article 96. Rights and responsibilities of entities engaged
in proposing investment policies
1. Propose programs and projects conformable with the
strategy, planning and plan for socio-economic development in each stage.
2. Mobilize the resources to execute the programs and
projects on schedule.
3. Request the competent authorities to consider and decide
the investment policies when any program is different from other programs and
the regular duties according to the assigned obligations.
4. Be responsible for the information and figures related
to the proposed programs and projects.
Article 97. Rights and responsibilities of entities related
to Decisions on investment policies
1. Entities decide the investment polices on programs and
projects in accordance with the regulations in Article 18 of this Law.
2. Any entity prescribed in Clauses 2, 3, 4 and 6 Article
17 of thus Law that decide the inappropriate and ineffective investment or
cannot balance the capital leading to the loss and wastage shall be disciplined
or liable to administrative penalties or criminal prosecution depending on the
nature and severity of the violations; or compensate for the damage (if any)
under the regulations of the law.
3. Any entity related to the establishment and assessment
that commits the violations, which leads to the inappropriate and ineffective
investment shall be disciplined or liable to administrative penalties or
criminal prosecution depending on the nature and severity of the violations; or
compensate for the damage (if any) under the regulations of the law.
Article 98. Rights and responsibilities of program leaders
and investors related to establishment of programs and projects
1. Take legal responsibility for the documents sent to the
competent authorities for approval.
2. Provide necessary documents for the authorities in
charge of assessing the programs and projects.
3. Propose measures to attract the capital to execute the
programs and projects on schedule.
4. Take responsibility for the establishment of programs
and projects. Be disciplined or liable to administrative penalties or criminal
prosecution depending on the nature and severity of the violations in case of
violations; or compensate for the damage (if any) under the regulations of the
law.
Article 99. Rights and responsibilities of investors in
programs and projects
1. Invest in the programs and projects according to the
investment policies that are approved by the competent authorities, which is
conformable with the ability to balance the capital under the their management
and meets the standards in investment and assessment result. Be disciplined or
liable to administrative penalties or criminal prosecution depending on the
nature and severity of the violations in case of inappropriate investment
leading to ineffective investment, time-consuming or loss; or compensate for
the damage (if any) under the regulations of the law.
2. Assess the programs and projects before they are
approved, including assessing the capital and ability to balance the capital.
3. Balance the capital to pay the cost to establish and
assess the programs and projects under their management.
4. Direct the program leaders and investors to execute the
programs and projects on time and ensure the quality within the scope of the
approved investment plan.
5. Decide to adjust, suspend or cancel the programs and
projects.
6. Supervise, inspect and assess the programs and projects
and the activities of the program leaders and investors during the execution of
the programs and projects.
7. Take legal responsibility for the violations against the
regulations on competence during the selection of the program leaders and
investors.
Article 100. Rights and responsibilities of entities
related to design consultancy on programs and projects
1. Request the program leaders and investors to provide
information and documents related to the design for programs and projects.
2. Design the programs and projects to the standards, norms
and quality assurance measures; do not exceed the regulated standards and
norms.
3. Take responsibility for the result of the design of
programs and projects. Be disciplined or liable to administrative penalties or
criminal prosecution depending on the nature and severity of the violations in
case of incorrect design leading to ineffective investment or loss; or
compensate for the damage (if any) under the regulations of the law.
Article 101. Rights and responsibilities of entities
related to assessment of plans, programs and projects
1. Conduct the assessment of the plans, programs and
projects under the regulations of the law and be responsible for the assessment
result and their requests.
2. Conduct independent, transparent and objective
assessment in accordance with the regulations of this Law and other laws.
3. Be disciplined or liable to administrative penalties or
criminal prosecution depending on the nature and severity of the violations in
case of inaccurate assessment; or compensate for the damage (if any) under the
regulations of the law.
Article 102. Rights and responsibilities of program leaders
and investors to manage and carry out programs and projects
1. Manage and carry out the programs and projects, ensure
the target, process and quality.
2. Report the implementation of the programs and projects
under the regulations of this Law and other relevant laws.
3. Be
disciplined or liable to administrative penalties or criminal prosecution
depending on the nature and severity of the violations in case of any loss; or
compensate for the damage (if any) under the regulations of the law.
Article 103. Rights and responsibilities of managing Board
in charge of programs and projects
1. Propose the remedies; manage and carry out the programs
and projects; ensure the target, process and quality as authorized by the
program leaders and investors.
2. Report the implementation of the programs and projects
to the program leaders and investors.
3. Be disciplined or liable to administrative penalties or
criminal prosecution depending on the nature and severity of the violations in
case of any loss; or compensate for the damage (if any) under the regulations
of the law.
Article 104. Rights and responsibilities of entities
supervising, assessing and inspecting programs and projects
1. The Heads of the Ministries, regulatory authorities and
local authorities, Presidents of the People’s Committees of districts, program
leaders and investors shall be responsible for the consequences if they do not
supervise, assess or inspect the plans, programs and projects or send reports
under the regulations.
2. The entities that are assigned to supervise, inspect and
evaluate the plans, programs and projects must be responsible for their
reports.
3. The program leaders and investors shall be responsible
for their reports and take the legal responsibility for incorrect information
about the investment within their competence under the regulations of the law.
4. Any entity assigned to supervise, inspect and valuate
the plans, programs and projects that hide the violations or other violations
shall be disciplined or liable to administrative penalties or criminal
prosecution depending on the nature and severity of the violations ; or
compensate for the damage (if any) under the regulations of the law.
Article 105. Imposition of penalties
Any entity breaches the regulations in this Law shall be
disciplined or liable to administrative penalties or criminal prosecution
depending on the nature and severity of the violations ; or compensate for the
damage (if any) under the regulations of the law.
Chapter VI
IMPLEMENTATION
Article 106. Transitional
clauses
1. The programs and projects that are approved by the
competent authorities before the effective date of this Law but are not
allocated capital shall be handled as follows:
a) The national target programs and projects shall be
carried out according to the Resolution of the National Assembly and the
Decision on investment of the Government;
b) The programs and projects in the investment plan that
are approved by the competent authorities shall be carried out according to
such plan;
c) In case of programs and projects that are approved by
the competent authorities but are not in the investment plan, the investment
policies on the programs and projects must be formulated, assessed and approved
according to the regulations of this Law.
2. The capital budget shall only be allocated to repay
outstanding debts arising from infrastructural construction before the
effective date of this Law.
Article 107. Effect
This Law shall come into effect from January 01, 2015.
Article 108. Specific regulations
The Government shall regulate the binding articles and
clauses in this Law.
This Law has been adopted in June 18, 2014 by the 8th
National Assembly of the Socialist Republic of Vietnam in the 7th
meeting.
THE PRESIDENT OF NATIONAL ASSEMBLY
Nguyen Sinh Hung |
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