Decree 85/2025/ND-CP detailing the Law on Public Investment

DECREE

Detailing the implementation of a number of articles of the Law on Public Investment^[1]

Pursuant to the February 18, 2025 Law on Organization of the Government;

Pursuant to the November 29, 2024 Law on Public Investment;

At the proposal of the Minister of Finance;

The Government promulgates the Decree detailing the implementation of a number of articles of the Law on Public Investment.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Decree details the implementation of a number of articles of the Law on Public Investment, including:

1. Clause 6, Article 5 regarding investment order and procedures for subjects eligible for provision of preferential loan interest rate and management fee subsidies; allocation of charter capital to policy banks and off-budget state financial funds; and provision of investment support for other subjects under decisions of the Government or the Prime Minister.

2. Clause 7, Article 5 regarding conditions, criteria and principles for allocation of capital for entrusted implementation of preferential credit policies through provincial-level branches of the Vietnam Bank for Social Policies.

3. Clause 2, Article 6 regarding classification of public investment projects.

4. Clause 2, Article 7 regarding sectors and fields involving the use of public investment capital.

5. Clause 12, Article 18 regarding decentralization of the competence, and order and procedures for deciding on investment policy for programs and projects using lawful revenues of state agencies or public non-business units that are earmarked for investment in accordance with regulations on financial autonomy of agencies and units; order and procedures for deciding on investment policy for projects using local budget funds and implemented by central agencies, or projects using district- or commune-level budget funds and implemented by provincial- or district-level agencies; and dossiers and contents of, and time limits for appraising, and deciding on investment policy for, programs and projects.

6. Clause 1, Article 32 regarding principles, competence, order and procedures for deciding on investment policy for overseas-based group-A, group-B and group-C projects.

7. Clause 4, Article 37 regarding dossiers, order procedures for, and contents of, adjustment of investment policy for programs and projects; cases of termination of investment policy for programs and projects and the order and procedures for implementation.

8. Clause 7, Article 38 regarding decentralization of the competence, and order and procedures for deciding on investment for programs and projects using lawful revenues of state agencies and public non-business units that are earmarked for investment under regulations on financial autonomy of agencies and units.

9. Clause 5, Article 43 regarding principles, competence, contents, order and procedures for formulation and appraisal of, and decision on investment in, overseas-based public investment projects.

10. Clause 6, Article 46 regarding contents of, and order and procedures for, formulation, appraisal and adjustment of programs and projects.

11. Clause 2, Article 48 regarding dossiers for decision on programs and projects, and contents of and time limits for appraisal of and decision on programs and projects.

12. Clause 5, Article 57 regarding time limits for allocation of capital for project implementation.

13. Clause 10, Article 59 regarding the order for formulation, approval and assignment of medium-term public investment plans using state budget funds.

14. Clause 9, Article 60 regarding the order for formulation, approval and assignment of annual public investment plans using state budget funds.

15. Clause 5, Article 62 regarding formulation, appraisal, approval and assignment of medium-term and annual plans using lawful revenues of state agencies and public non-business units that are earmarked for investment.

16. Clause 2, Article 69 regarding reporting to competent authorities on the implementation of public investment plans.

17. Clause 4, Article 70 regarding the organization of the implementation of public investment plans.

18. Clause 9, Article 71 regarding the order and procedures for adjustment of medium-term and annual public investment plans using state budget funds.

19. Clause 4, Article 80 regarding monitoring, inspection and evaluation of public investment plans.

20. Clause 4, Article 83 regarding the management of the performance of investment preparation tasks, planning tasks, and public investment projects without construction components.

21. Clause 2, Article 93 regarding decision on investment policy for projects using lawful revenues of state agencies and public non-business units and to be implemented in 2 consecutive periods of medium-term plans.

22. Clause 4, Article 101 regarding the national information system and database on public investment.

Article 2. Subjects of application

This Decree applies to agencies, units, organizations and individuals engaged in or related to public investment activities and the management and use of public investment capital.

Article 3. Interpretation of terms

1. Investment policy adjustment proposal report means a document presenting adjustments to the investment policy proposal report of a program or project.

2. Adjusted feasibility study report means a document presenting adjusted contents of the feasibility study report of a program or project.

3. Adjusted prefeasibility study report means a document presenting adjusted contents of the prefeasibility study report of a project.

4. Provision of preferential loan interest rate and management fee subsidies means the allocation of public investment capital to offset interest rate and management fee differences for the provision of loans to policy beneficiaries in accordance with law.

5. Allocation of charter capital for policy banks and off-budget state financial funds means the distribution of public investment capital to allocate charter capital or additionally allocate charter capital for policy banks and off-budget state financial funds under decisions of competent authorities.

6. Overseas-based public investment project means an investment project wholly or partly funded by public investment capital for the procurement of equipment; and construction, renovation or repair of office buildings and houses for staff members of Vietnamese representative missions and other Vietnamese agencies in a foreign country; or an investment project wholly or partly funded by public investment capital for the purchase of houses, purchase of land or long-term lease of land in a foreign country for the construction of office buildings and houses for staff members.

7. Provision of investment support for other subjects under decisions of the Government or the Prime Minister means the allocation of public investment capital to implement specific policies under decisions of the Government or the Prime Minister.

8. The national information system and national database on public investment

a/ The national information system on public investment means a collection of hardware, software and databases established to create, provide, transmit, collect, process, store and exchange information related to public investment in the cyberspace (below referred to as the System);

b/ The national database on public investment means a collection of basic information on public investment programs, projects and plans that is established, updated and maintained for management, operation and use via electronic means;

c/ The System shall be developed and implemented uniformly nationwide to serve the state management of public investment, covering the summarization, reporting, assignment and adjustment of medium-term and annual public investment plans; monitoring and evaluation of public investment programs and projects; and data management, storage and disclosure under regulations.

Article 4. Sectors and fields involving the use of public investment capital

Public investment capital shall be allocated for objects of public investment in accordance with the Law on Public Investment and categorized into the following sectors and fields:

1. National defense: tasks, programs and projects in the sectors and fields serving national defense, cipher, disaster response and search and rescue activities of central- and local-level specialized units as decentralized; mine clearance, dual-use national defense industry development, and purchase or construction of houses for the people’s armed forces by the Ministry of National Defense.

2. Security and social order and safety: tasks, programs and projects in the sectors and fields serving the maintenance of security and social order and safety, fire prevention and fighting, investigation for crime prevention and combat, criminal judgment execution, disaster incident response, and search and rescue activities of central and local specialized units as decentralized, and houses for the people’s armed forces that are purchased or invested by the Ministry of Public Security.

3. Education and training and vocational education: tasks, programs and investment projects on the construction of infrastructure, physical foundations and equipment to serve education, training and vocational education activities from early childhood education to higher education and continuing education; and investment in personnel training institutions of ministries, central agencies and localities.

4. Science and technology: tasks, programs and investment projects on the construction of infrastructure, physical foundations, equipment and technologies serving scientific and technological development, experimentation, trial, analysis, inspection, testing, standard-measurement-quality, intellectual property, atomic energy, nuclear energy and new types of energy, radiation and nuclear safety, scientific and technological information and statistics, specialized designing in natural sciences and engineering, technology application and transfer, semiconductor chips, and artificial intelligence; innovation centers, research and development, industrial development support, hi-tech parks, and hi-tech agro-forestry-fisheries zones.

5. Health, population and family: tasks, programs and investment projects on the construction of infrastructure, physical foundations and equipment for medical use, covering preventive medicine, medical examination and treatment, rehabilitation, medical assessment, forensic medicine, forensic psychiatry, traditional medicine and pharmacy, and medical equipment; cosmetics, food safety, health insurance, population, and reproductive health.

6. Culture and information, covering tasks, programs and projects serving the following fields:

a/ Culture: protection and conservation of values of tangible and intangible cultural heritage and ethnic culture; development of literature and arts, cinematography, library, museum, grassroots culture, and performing arts; development of cultural institutions and cultural works;

b/ Information: infrastructure, physical foundations and equipment serving publishing and press activities of the Party and the State.

7. Radio, television and news: tasks, programs and investment projects on the construction of infrastructure, physical foundations and equipment serving radio, television and news activities for the performance of political, social and essential public tasks.

8. Physical training and sports: tasks, programs and investment projects on the construction of infrastructure, physical foundations and equipment for the development of physical training and sports.

9. Environmental protection, covering tasks, programs and projects serving the following fields:

a/ Environment: infrastructure, physical foundations and equipment serving environmental monitoring and warning, environmental pollution remediation, environment improvement, waste and wastewater treatment, green growth, climate change adaptation, and sustainable development;

b/ Natural resources: infrastructure, physical foundations and equipment for survey and mapping, remote sensing, hydro-meteorology, geological and mineral exploration, land survey and evaluation, soil protection, rehabilitation and restoration, and protection of natural resources, biodiversity, and seas and islands.

10. Economic activities, covering tasks, programs and projects serving the following fields:

a/ Agriculture, forestry, salt production, hydraulic work and fisheries: infrastructure, physical foundations and equipment serving agriculture, forestry, salt production, hydraulic work and fisheries; rural economy (covering new-style countryside building, clean water supply and environmental hygiene assurance in rural areas, development of rural trades and rural craft villages in association with households and cooperatives, rural population redistribution, sedentary farming and residence, migration stabilization, and resettlement); development of plant varieties and livestock breeds; forest planting, protection and development; prevention, control, and remediation of consequences, of disasters, forest fires and epidemics, paddy land stabilization, and assurance of water security and food security;

b/ Industry: electricity supply for rural and mountainous areas and islands; physical foundations, equipment and infrastructure serving the operation of the power system and the national electricity market; tasks and projects in the field of oil and gas under the Prime Minister’s decisions; and physical foundations and equipment for banknote printing and coin minting;

c/ Transport: road, railway, inland waterway and maritime transport and airport and aerodrome infrastructure;

d/ Industrial parks and economic zones: infrastructure for coastal economic zones, border-gate economic zones and special economic zones, free trade zones, industrial parks and cottage industry zones;

dd/ Trade: retail markets, wholesale markets, logistics centers, fair and exhibition centers, and import-export infrastructure;

e/ Water supply and drainage;

g/ Warehousing: infrastructure, physical foundations and equipment for warehousing, special-use warehouses, national reserves warehouses, record and document archive warehouses, and evidence warehouses;

h/ Tourism: infrastructure for sustainable tourism development in tourist sites, spots and areas;

i/ Telecommunications: infrastructure, physical foundations and equipment for telecommunications activities for the performance of political, social and essential public tasks; telecommunications and Internet infrastructure; infrastructure, physical foundations and equipment serving the upgrading and development of private telecommunications networks for agencies of the Party and the State; and infrastructure of the national data center and for cloud computing;

k/ Post: infrastructure, physical foundations and equipment for postal activities for the performance of political, social and essential public tasks; infrastructure, physical foundations and equipment serving the upgrading and development of postal networks for agencies of the Party and the State;

l/ Information technology: infrastructure for information technology application and data centers in agencies of the Party and the State; infrastructure for information technology application and data centers of private telecommunications networks, and special telegraph networks serving agencies of the Party and the State, special-use data transmission networks serving agencies of the Party and the State, and special telephone networks serving agencies of the Party and the State; information systems, database hardware and software; digital platforms, applied software and share-use services; information security and cyber security; semiconductor chips; and artificial intelligence;

m/ Planning: planning tasks as provided in the Planning Law;

n/ Public works in urban and rural areas; technical infrastructure of urban areas;

o/ Finance and banking;

p/ Allocation of charter capital for policy banks and off-budget state financial funds; provision of preferential loan interest rate and management fee subsidies; capital entrustment via policy banks under regulations of competent authorities; support for enterprises investing in agriculture and rural areas; support for small- and medium-sized enterprises in accordance with the Law on Support for Small- and Medium-Sized Enterprises; and support for cooperative groups, cooperatives and unions of cooperatives  in accordance with the Law on Cooperatives.

11. Activities of state management agencies, public non-business units, political organizations and socio-political organizations: tasks, programs and projects serving the construction, renovation and upgrading of office buildings, official residences, housing for rotated and transferred officials, procurement of equipment for agencies of the political system and the State; projects on purchase, construction or renovation of office buildings, renovation and upgrading of housing, and procurement of equipment for overseas-based Vietnamese representative missions.

12. Social affairs: tasks, programs and investment projects on the construction, renovation and upgrading of infrastructure and physical foundations and procurement of equipment for establishments engaged in convalescence, rehabilitation, and care for people with meritorious services; job creation; construction, renovation and upgrading of care homes for the helpless elderly and orphans; construction of dormitories for industrial park workers; worker healthcare and occupational disease prevention and treatment centers; support facilities for youth, women and farmers; construction, renovation, upgrading and expansion of martyrs’ memorial works; rehabilitation centers and other social protection facilities; dormitories for workers.

13. Other tasks, programs and projects as specified by law: investment support for other policy beneficiaries under regulations of the Government or the Prime Minister; and tasks, programs and projects as objects of public investment but not yet classified into the sectors and fields specified in Clauses 1 through 12 of this Article.

Article 5. Conditions, criteria and principles for allocation of local budget funds for entrusted implementation of preferential credit policies through provincial-level branches of the Vietnam Bank for Social Policies

1. Principles and conditions for allocation of local budget funds for entrusted implementation of preferential credit policies through provincial-level branches of the Vietnam Bank for Social Policies:

a/ Compliance with Articles 54, 55 and 56 of the Law on Public Investment;

b/ Ensuring the capacity to balance local budget funds in medium-term and annual public investment plans for implementation; ensuring the recoverability of the local budget funds already allocated for entrusted implementation of preferential credit policies;

c/ The preparation, approval and assignment of medium-term and annual public investment plans with funds entrusted through the Vietnam Bank for Social Policies must comply with Articles 59 and 60 of the Law on Public Investment.

2. Based on reports on tentative medium-term and annual public investment plans submitted by provincial-level branches of the Vietnam Bank for Social Policies, provincial-level People’s Committees shall propose provincial-level People’s Councils to decide on criteria for allocation of local budget funds in medium-term and annual public investment plans for entrusted implementation of preferential credit policies through provincial-level branches of the Vietnam Bank for Social Policies.

Chapter II

FORMULATION AND APPRAISAL OF, AND INVESTMENT POLICY DECISION FOR, PUBLIC INVESTMENT PROGRAMS AND PROJECTS

Article 6. Competence to decide on investment policy for programs and projects using lawful revenues of state agencies or public non-business units that are earmarked for investment

1. For programs and projects of state agencies or public non-business units managed by ministries or central agencies:

a/ Ministers or heads of central agencies may decide on investment policy for programs and group-A, group-B and group-C projects of state agencies under their management; programs and group-A projects of subordinate public non-business units that can cover recurrent expenditures; and programs and group-A and group-B projects of other subordinate public non-business units, except those specified at Point b of this Clause.

Ministers or heads of central agencies may decentralize or authorize investment policy decision for group-B and group-C projects of state agencies under their management as specified at this Point to the heads of those state agencies;

b/ Heads of public non-business units that can cover recurrent expenditures and investment expenditures may decide on investment policy for programs and group-A, group-B and group-C projects under their units’ management;

c/ Heads of public non-business units that can cover recurrent expenditures may decide on investment policy for group-B and group-C projects under their units’ management;

d/ Heads of other public non-business units, except those specified at Points b and c of this Clause, may decide on investment policy for group-C projects under their units’ management.

2. For programs and projects of state agencies or public non-business units managed by local authorities:

a/ Chairpersons of People’s Committees at all levels may decide on investment policy for programs and group-A, group-B and group-C projects of state agencies under their respective management; programs and group-A projects of subordinate public non-business units that can cover recurrent expenditures; and programs and group-A and group-B projects of other subordinate public non-business units, except those specified at Point b of this Clause;

Chairpersons of People’s Committees may decentralize or authorize investment policy decision for group-B and group-C projects of state agencies under their respective management as specified at this Point to the heads of those state agencies;

b/ Heads of public non-business units that can cover recurrent expenditures and investment expenditures may decide on investment policy for programs and group-A, group-B and group-C projects under their units’ management;

c/ Heads of public non-business units that can cover recurrent expenditures may decide on investment policy for group-B and group-C projects under their units’ management;

d/ Heads of other public non-business units, except those specified at Points b and c of this Clause, may decide on investment policy for group-C projects under their units’ management.

3. For projects using lawful revenues of state agencies or public non-business units that are earmarked for investment, which are to be implemented in 2 consecutive periods of medium-term public investment plans, the authorities competent to decide on investment policy for projects as specified in Clauses 1 and 2 of this Article may decide on investment policy for such projects and shall take responsibility for their decisions in conformity with the capacity to balance public investment capital sources and the capacity to mobilize other lawful funding sources (if any).

4. Within 5 working days after investment policy is approved for a program or project, a public non-business unit specified at Points b, c or d, Clause 1, or Point b, c, or d, Clause 2, of this Article shall send the program or project investment policy decision to the managing ministry, central agency or provincial-level People’s Committee for reporting.

Article 7. Order and procedures for deciding on investment policy for programs and projects using lawful revenues of state agencies or public non-business units that are earmarked for investment

1. A minister or the head of a central agency shall:

a/ Assign a subordinate unit or public non-business unit under his/her management to prepare the prefeasibility study report or investment policy proposal report for a program or project specified at Point a, Clause 1, Article 6 of this Decree;

b/ Establish an appraisal council or assign a functional unit to take charge of appraising the prefeasibility study report or investment policy proposal report; and appraise funding sources and the capacity to balance funds from lawful revenues of state agencies or public non-business units that are earmarked for investment;

c/ Direct the unit specified at Point a of this Clause to finalize the prefeasibility study report or investment policy proposal report and submit it to him/her for consideration and decision on investment policy for the program or project.

2. The Chairperson of the People’s Committee at a level shall:

a/ Assign a specialized agency, subordinate unit or public non-business unit under his/her management to prepare the prefeasibility study report or investment policy proposal report for a program or project specified at Point a, Clause 2, Article 6 of this Decree;

b/ Establish an appraisal council or assign a functional unit to appraise the prefeasibility study report or investment policy proposal report; and appraise funding sources and the capacity to balance funds from lawful revenues of the agency or public non-business unit that are earmarked for investment;

c/ Direct the agency or unit specified at Point a of this Clause to finalize the prefeasibility study report or investment policy proposal report and submit it to him/her for consideration and decision on investment policy for the program or project.

3. The head of a public non-business unit specified at Point b, c or d, Clause 1, Article 6 or Point b, c or d, Clause 2, Article 6 of this Decree shall:

a/ Assign a specialized agency or subordinate unit under his/her management to prepare the prefeasibility study report or investment policy proposal report for a program or project of his/her agency or unit;

b/ Establish an appraisal council or assign a functional unit to appraise the prefeasibility study report or investment policy proposal report; and appraise funding sources and the capacity to balance funds from lawful revenues of his/her agency or unit that are earmarked for investment;

c/ Direct the agency or unit specified at Point a of this Clause to finalize the prefeasibility study report or investment policy proposal report and submit it to him/her for consideration and decision on investment policy for the program or project.

Article 8. Principles and competence for deciding on investment policy for overseas-based group-A, group-B and group-C public investment projects

1. Principles for deciding on investment policy for overseas-based public investment projects must comply with Clauses 2 and 3, Article 3 of the Law on Public Investment and the relevant provisions of this Decree.

2. Competence to decide on investment policy for overseas-based public investment projects must comply with Article 18 of the Law on Public Investment.

Article 9. Order and procedures for deciding on investment policy for overseas-based group-A, group-B and group-C public investment projects

1. A minister or the head of a central agency shall:

a/ Assign a subordinate unit, including also subordinate public non-business units, to prepare the prefeasibility study report or investment policy proposal report for the project;

b/ Establish an appraisal council or assign a functional unit to appraise the prefeasibility study report or investment policy proposal report; and appraise funding sources and the capacity to balance funds for the project;

c/ Direct the unit specified at Point a of this Clause to finalize the prefeasibility study report or investment policy proposal report, and submit it to the competent authority for consideration and decision on investment policy for the project.

2. The Chairperson of the People’s Committee at a level shall:

a/ Assign a specialized agency or subordinate unit to prepare the prefeasibility study report or investment policy proposal report for the project;

b/ Establish an appraisal council or assign a functional unit to appraise the prefeasibility study report or investment policy proposal report; and appraise funding sources and the capacity to balance funds for the project;

c/ Direct the agency or unit specified at Point a of this Clause to finalize the prefeasibility study report or investment policy proposal report, and submit it to the competent authority for consideration and decision on investment policy for the project.

3. Contents of a prefeasibility study report for a group-A project or of a investment policy proposal report for a group-B or group-C project:

a/ Necessity of investment, conditions for investment, and assessment of the project’s conformity with the relevant master plan under the law of the host country;

b/ Objectives, scale and location of investment;

c/ Estimated total investment capital and structure of capital sources;

d/ Investment schedule and phases;

dd/ Security and environmental factors; preliminary assessment of socio-economic efficiency;

e/ Division of the project into component projects (if any);

g/ Solutions.

4. Contents of the appraisal of the project’s investment policy include:

a/ Necessity of investment in the project;

b/ Compliance with the laws of the host country and of the Socialist Republic of Vietnam;

c/ The project’s conformity with the relevant master plan under the law of the host country;

d/ Objectives, scale, location and schedule of investment; security and environmental factors;

dd/ Socio-economic efficiency.

Article 10. Order and procedures for deciding on investment policy for projects using local budget funds and implemented by central agencies, and projects using district- or commune-level budget funds and implemented by provincial- or district-level agencies

1. For a project with a ministry or central agency acting as the managing agency and using local budget funds, the order and procedures for deciding on investment policy are as follows:

a/ Complying with Article 26 of the Law on Public Investment;

b/ For the amount of local budget funds used for the project, the local People’s Committee shall propose the same-level People’s Council to adopt a resolution on the allocation of local budget funds as a basis for appraising funding sources and the capacity to balance funds for the project.

2. For a project with a provincial- or district-level People’s Committee acting as the managing agency and using subordinate local budget funds, the order and procedures for deciding on investment policy are as follows:

a/ Complying with Articles 25 and 28 of the Law on Public Investment;

b/ For the amount of the subordinate local budget funds used for the project, the local People’s Committee shall propose the same-level People’s Council to adopt a resolution on the allocation of local budget funds as a basis for appraising funding sources and the capacity to balance funds for the project.

Article 11. Dossiers, contents and time limits for appraisal of prefeasibility study reports or investment policy proposal reports of public investment programs and group-A, group-B, and group-C public investment projects

1. A dossier for appraisal of the prefeasibility study report or investment policy proposal report for a public investment program or a group-A, group-B or group-C public investment project must comprise:

a/ A request for the competent authority to decide on investment policy for the program or project;

b/ The prefeasibility study report, for group-A projects; or the investment policy proposal report, for programs and group-B and group-C projects;

c/ Other relevant documents (if any).

The appraisal-requesting agency shall send to the appraisal council or the agency in charge of appraisal the dossier by electronic means, except documents containing state secrets as specified by the law on protection of state secrets.

2. Contents of appraisal of investment policy for a public investment program include:

a/ Satisfaction of the criteria for identification of a public investment program;

b/ Compliance with regulations of the dossier’s documents submitted for appraisal;

c/ Conformity with strategic objectives; socio-economic development plans, sectoral development plan(s), and relevant master plans in accordance with the planning law;

d/ The contents specified in Article 33 of the Law on Public Investment;

dd/ Socio-economic efficiency, environmental protection and sustainable development;

e/ Capital recovery and debt payment capacity in case of loan use.

3. Contents of appraisal of investment policy for a group-A, group-B or group-C public investment project include:

a/ Necessity of investment in the project;

b/ Compliance with regulations of the dossier’s documents submitted for appraisal;

c/ Conformity with relevant plans and master plans under the planning law;

d/ Satisfaction of the criteria for classification of group-A, group-B and group-C projects;

dd/ The contents specified in Article 34 (for group-A projects), or Article 35 (for group-B and group-C projects), of the Law on Public Investment;

e/ Socio-economic efficiency, environmental protection and sustainable development.

4. The agency in charge of appraising the prefeasibility study report or investment policy proposal report for a program or project shall, in the course of appraisal, consult the agency assigned to appraise funding sources and the capacity to balance funds for the program or project under Article 36 of the Law on Public Investment. The consulted agency shall send its appraisal opinions to the agency in charge of appraisal.

In case the agency in charge of appraising the prefeasibility study report or investment policy proposal report for a program or project is also the agency assigned to appraise funding sources and the capacity to balance funds for the program or project under Article 36 of the Law on Public Investment, it shall itself appraise funding sources and the capacity to balance funds.

5. The time limit for appraisal of the prefeasibility study report or investment policy proposal report for a public investment program or a group-A, group-B or group-C public investment project, counting from the date the appraisal council or the agency in charge of appraisal receives a complete dossier, is:

a/ Forty working days, for national target programs;

b/ Thirty working days, for public investment programs (excluding national target programs);

c/ Thirty working days, for group-A projects; or,

d/ Twenty working days, for group-B and group-C projects.

If the dossier is invalid or the prefeasibility study report or investment policy proposal report for the program or project has contents at variance with Articles 33, 34 and 35 of the Law on Public Investment, the appraisal council or the agency in charge of appraisal shall, within 5 working days after receiving the dossier, send a written reply to the appraisal-requesting agency for the latter to supplement the dossier or finalize the report.

6. The appraisal council or the agency in charge of appraising the prefeasibility study report for a group-A project or the investment policy proposal report for a program or a group-B or group-C project shall send the appraisal report under the following regulations:

a/ Sending the report to the program-managing agency and the agency competent to decide on investment policy, for public investment programs;

b/ Complying with Clause 4, Article 24 of the Law on Public Investment, for group-A projects under the Prime Minister’s competence;

c/ Sending the report to the appraisal-requesting agency, the project management agency, and the agency competent to decide on investment policy, for group-A projects other than those specified at Point b of this Clause and group-B and group-C projects.

Article 12. Dossiers submitted to competent authorities and time limit for deciding on investment policy for public investment programs and group-A, group-B or group-C public investment projects

1. A dossier submitted to a competent authority for deciding on investment policy for a public investment program or a group-A, group-B or group-C public investment project must comprise:

a/ The documents specified in Clause 1, Article 11 of this Decree, including the request for investment policy decision and the prefeasibility study report or investment policy proposal report already finalized based on the appraisal report of the appraisal council or the agency in charge of appraisal;

b/ The appraisal report, prepared by the appraisal council or the agency in charge of appraisal, on investment policy for the program or project.

2. The time limit for deciding on investment policy for a program or project, counting from the date the authority competent to decide on investment policy receives a complete and valid dossier, is:

a/ Ten working days, for public investment programs (excluding national target programs);

b/ Seven working days, for group-A projects; or,

c/ Five working days, for group-B and group-C projects.

In case a program or project is subject to investment policy decision by the People’s Council at any level, the time limit for investment policy decision must conform to the agenda of the People’s Council’s session.

3. Within 3 working days from the date the competent authority decides on investment policy for a program or project:

a/ The ministry, central agency or local authority managing the program or project using central budget funds shall send to the Ministry of Finance the program or project investment policy decision approved by the competent authority;

b/ The agency managing the program or project using local budget funds shall send the program or project investment policy decision approved by the competent authority to the provincial-level Department of Finance and the same-level specialized agency in charge of investment management.

Article 13. Classification of public investment projects

The classification of group-A, group-B and group-C public investment projects is provided in Appendix I to this Decree.

Article 14. Dossiers, order, procedures and contents of adjustment of investment policy for public investment programs and group-A, group-B and group-C public investment projects

1. The order and procedures for adjustment of investment policy must comply with Clause 3, Article 37 of the Law on Public Investment, specifically, the agency, unit or organization assigned to formulate or appraise the prefeasibility study report shall adjust, or report on proposal for adjustment of, investment policy and submit it to the competent authority for consideration and decision.

2. A dossier to be submitted to a competent authority for deciding on adjustment of investment policy for a program or project must comprise:

a/ A written request for a competent authority to decide on adjustment of investment policy for a program or project, which must clearly state reasons for the adjustment; to-be-adjusted contents corresponding to the contents of the prefeasibility study report or investment policy proposal report and conformity with cases of adjustment of investment policy for programs or projects as specified in Clause 2, Article 37 of the Law on Public Investment;

b/ Documents accompanying the written request, including the decision on investment policy for the program or project; decision on adjustment of the previous investment policy for the program or project (if any); the adjusted prefeasibility study report or investment policy adjustment proposal report for the program or project, which must have the contents of the adjusted prefeasibility study report or investment policy proposal report as specified in Articles 33, 34 and 35 of the Law on Public Investment;

c/ An appraisal report on adjustment of investment policy for the program or project, made by the appraisal council or the agency or unit in charge of appraisal. Contents of appraisal of the adjusted prefeasibility study report or investment policy adjustment proposal report must correspond to the contents specified in Clauses 2 and 3, Article 11 of this Decree, for the proposed adjusted contents;

d/ Other relevant documents (if any).

3. The time limit for deciding on adjustment of investment policy for a program or project, counted from the date the authority competent to decide on the adjustment of investment policy receives a complete and valid dossier, is:

a/ Ten working days, for public investment programs (excluding national target programs);

b/ Seven working days, for group-A projects;

c/ Five working days, for group-B and group-C projects.

4. The appraisal council or agency or unit in charge of appraisal on adjustment of investment policy for the program or project shall appraise the proposed adjusted contents of the adjusted prefeasibility study report or investment policy adjustment proposal report, not the previously appraised and decided contents.

Article 15. Cases of suspension of investment policy for programs and projects and order and procedures for implementation thereof

1. For a program or project for which investment policy has been decided but investment has not yet been decided, the authority competent to decide on investment policy for programs or projects shall decide on the suspension of investment policy for such program or project and take responsibility for its decision.

2. For a program or project for which investment has been decided, investment policy for such program or project shall be suspended in the following cases:

a/ The further implementation of the program or project is likely to cause serious consequences in terms of socio-economic development, national defense and security, external affairs, and the environment;

b/ The suspension of investment policy for the program or project is expected to bring about higher financial and socio-economic efficiency;

c/ Due to unforeseeable and irremediable objective reasons, it is impossible to continue implementing the program or project though all necessary measures have been applied within the capacity of competent authorities.

3. The order and procedures for suspension of investment policy for a program or project specified in Clause 2 of this Article are as follows:

a/ The authority that has decided on investment in the program or project shall inspect and evaluate the implementation of the program or project in accordance with the law on public investment and relevant laws;

b/ The authority that has decided on investment in the program or project shall report to the authority that has decided on investment policy for the program or project on suspension of investment policy for the program or project, specifying the reasons for the suspension as mentioned in the cases specified in Clause 2 of this Article;

c/ The authority that has decided on investment policy for the program or project shall consider and decide on suspension of investment policy for the program or project, including deciding on the plan on handling the completed volume of the program or project in accordance with the law on management and use of public property and relevant laws.

Chapter III

FORMULATION AND APPRAISAL OF, AND DECISION ON INVESTMENT IN, PUBLIC INVESTMENT PROGRAMS AND PROJECTS

Article 16. Competence to decide on investment in programs and projects using lawful revenues of state agencies or public non-business units that are earmarked for investment

1. For programs and projects of state agencies or public non-business units under ministries’ or central agencies’ management:

a/ Ministers or heads of central agencies shall decide on investment in programs and group-A, group-B and group-C projects of subordinate state agencies under ministries or central agencies, and may delegate or authorize heads of the subordinate state agencies to decide on investment for group-B and group-C projects specified at this Point;

b/ Heads of public non-business units shall decide on investment in programs and group-A, group-B and group-C projects under their units’ management;

c/ The public non-business units specified at Point b of this Clause may act as owners of projects without construction components in which they decide on investment. For projects with construction components, the identification of project owners must comply with the construction law.

2. For programs and projects of state agencies or public non-business units under local authorities’ management:

a/ Chairpersons of People’s Committees shall decide on investment in programs and group-A, group-B and group-C projects of subordinate state agencies under their People’s Committees, and may delegate or authorize heads of the subordinate state agencies to decide on investment for group-B and group-C projects specified at this Point;

b/ Heads of public non-business units shall decide on investment in programs and group-A, group-B and group-C projects under their units’ management;

c/ The public non-business units specified at Point b of this Clause may act as owners of projects without construction components in which they decide on investment. For projects with construction components, the identification of project owners must comply with the construction law.

Article 17. Order and procedures for deciding on investment in programs and projects using lawful revenues of state agencies or public non-business units that are earmarked for investment

1. For investment programs or projects without construction components under ministries’ or central agencies’ management:

a/ For a program or project in which investment is decided by a minister or the head of a central agency:

Based on the investment policy decided by the competent authority, the minister or the head of the central agency shall assign the program or project owner to prepare a feasibility study report for the program or project; and form an appraisal council or assign a functional unit to appraise the feasibility study report;

The program or project owner shall, based on appraisal opinions, finalize the feasibility study report for the program or project and submit it to the minister or the head of the central agency for the latter to consider and decide on investment in the program or project;

b/ For a program or project in which investment is decided by the head of a public non-business unit: The head of the public non-business unit shall organize the preparation of a feasibility study report for the program or project in conformity with the investment policy decided by the competent authority; organize the appraisal and approval of the program or project and take responsibility for his/her decision in accordance with current regulations.

2. For investment programs or projects without construction components under local authorities’ management:

a/ For a program or project in which investment is decided by the chairperson of a People’s Committee:

Based on the investment policy decided by a competent authority, the chairperson of the People’s Committee shall assign the program or project owner to prepare a feasibility study report for the program or project; and form an appraisal council or assign a functional unit to appraise the feasibility study report;

The program or project owner shall, based on appraisal opinions, finalize the feasibility study report for the program or project and submit it to the chairperson of the People’s Committee for the latter to consider and decide on investment in the program or project;

b/ For a program or project in which investment is decided by the head of a public non-business unit: The head of the public non-business unit shall organize the preparation of a feasibility study report for the program or project in conformity with the investment policy decided by the competent authority; organize the appraisal and approval of the program or project and take responsibility for his/her decision in accordance with current regulations.

3. For projects with construction components, the order for formulation and appraisal of, and decision on investment in, projects must comply with the construction law.

Article 18. Principles, competence and contents for formulation and appraisal of, and decision on, overseas-based group-A, group-B and group-C public investment projects

1. Principles for deciding on investment in overseas-based group-A, group-B and group-C public investment projects must comply with Clause 3, Article 3 of the Law on Public Investment, law of the host country, and law of the Socialist Republic of Vietnam.

2. The competence to decide on investment in overseas-based public investment projects must comply with Article 38 of the Law on Public Investment.

3. Contents of public investment projects with construction components of overseas Vietnamese representative missions must comply with the Government’s regulations on management of investment projects of overseas representative missions of the Socialist Republic of Vietnam and other relevant regulations.

4. Contents of public investment projects with construction components of other overseas Vietnamese agencies must comply with the Government’s regulations on management of investment projects of overseas representative missions of the Socialist Republic of Vietnam and other relevant regulations.

5. Principal contents of a feasibility study report for an overseas-based public investment project without construction components:

a/ Necessity of the investment;

b/ The project’s conformity with the relevant master plan in accordance with the law of the host country;

c/ Analysis for identification of objectives, and selection of a rational scale;

d/ Analysis of natural conditions and economic conditions, selection of investment location;

dd/ Security and environmental factors;

e/ Ground clearance plan (if any);

g/ Project implementation schedule; main time landmarks for investment;

h/ Total investment; structure of funding sources;

i/ Organization of project management, covering identification of the project owner and analysis for selection of the form of organization of project management;

k/ Analysis of socio-economic efficiency.

6. Contents of appraisal of an overseas-based public investment project without construction components:

a/ Whether the dossier submitted for appraisal complies with law;

b/ The project’s conformity with the approved investment policy;

c/ Necessity of investment;

d/ The project’s conformity with the relevant master plan in accordance with law of the host country;

dd/ Whether the project’s objectives and scale are appropriate;

e/ Factors related to natural conditions and economic conditions, and selection of investment location;

g/ Security and environmental factors;

h/ Ground clearance plan (if any);

i/ Project implementation schedule; main time landmarks for investment;

k/ Total investment;

l/ Form of organization of project implementation management;

m/ Whether funding sources and fund-balancing capacity are appropriate; conformity of the project’s total investment with balanced funds in medium-term and annual public investment plans; structure of funding sources and capacity to balance public investment capital sources.

Article 19. Order and procedures for formulation and appraisal of, and decision on, overseas-based group-A, group-B and group-C public investment projects

1. For a project managed by a ministry or central agency:

a/ Based on the decided investment policy, the minister or the head of the central agency shall assign the project owner to prepare a feasibility study report for the project; and form an appraisal council or assign a functional unit to appraise the feasibility study report;

b/ The project owner shall, based on appraisal opinions, finalize the feasibility study report and submit it to the minister or the head of the central agency for the latter to consider and decide on investment in the project.

2. For a project managed by a local authority:

a/ Based on the decided investment policy, the Chairperson of the concerned People’s Committee shall assign the project owner to prepare a feasibility study report for the project; and form an appraisal council or assign a functional unit to appraise the feasibility study report;

b/ The project owner shall, based on appraisal opinions, finalize the feasibility study report and submit it to the Chairperson of the concerned People’s Committee for the latter to decide on investment in the project.

Article 20. Dossiers for and contents of appraisal of public investment programs

1. A dossier for appraisal of a public investment program must comprise:

a/ A written request for appraisal of a public investment program, which must state the necessity of investment in the program; objectives of the program and principal contents of the program’s feasibility study report; and proposal for a competent authority to decide on the program;

b/ The program’s feasibility study report as specified in Clause 1, Article 47 of the Law on Public Investment;

c/ Other relevant documents (if any).

The appraisal-requesting agency shall send to the appraisal council or agency in charge of appraisal the dossier for appraisal by electronic means, except dossiers and documents containing state secrets as specified in the law on protection of state secrets.

2. Contents of appraisal of a national target program or public investment program:

a/ Whether the dossier submitted for appraisal complies with law;

b/ The program’s conformity with the approved investment policy;

c/ Contents of the program’s feasibility study report as specified in Clause 1, Article 47 of the Law on Public Investment;

d/ The program’s conformity with appraised funding sources and the fund-balancing capacity; conformity of the program’s total investment with medium-term and annual public investment plans; structure of funding sources from the central and local budgets and other lawful funding sources; capacity to recover capital and pay debts in case of borrowing loans.

3. In the process of appraising a public investment program based on the contents specified in Clause 2 of this Article, the appraisal council or agency in charge of appraisal shall review the program and compare it with the provisions of the approved investment policy decision.

Article 21. Dossiers and contents for appraisal of public investment projects

1. A dossier for appraisal of a public investment project without construction components must comprise:

a/ A written request for appraisal of a project, stating the necessity of investment in the project; objectives of the project and principal contents of the project’s feasibility study report; and a proposal for a competent authority to decide on the project;

b/ The project’s feasibility study report as specified in Clause 2, Article 47 of the Law on Public Investment;

c/ Other relevant documents serving the appraisal (if any).

The appraisal-requesting agency shall send to the appraisal council or agency in charge of appraisal the dossier for appraisal by electronic means, except dossiers and documents containing state secrets as prescribed in the law on protection of state secrets.

2. Contents of appraisal of a public investment project without construction components:

a/ Whether the dossier submitted for appraisal complies with law;

b/ The project’s conformity with the approved project investment policy;

c/ Contents of the project’s feasibility study report as specified in Clause 2, Article 47 of the Law on Public Investment;

d/ Conformity of the project’s total investment with the fund-balancing capacity under medium-term and annual public investment plans; structure of funding sources, capacity to balance public investment capital sources, and mobilization of other funding sources and resources for the project implementation; evaluation of expenses for operation, maintenance, repair and overhaul in the process of project operation;

dd/ The project’s spillover effects on the development of sectors, fields, territories and localities; and on the generation of budget revenue sources, employment and incomes of local people and improvement of their livelihood; and impacts on the environment and sustainable development.

3. Contents of appraisal of a public investment project with construction components must comply with the construction law, the contents mentioned in Clause 3 of this Article which are not referred to in the construction law, and other relevant laws.

4. In the process of appraising a public investment project, the appraisal council or agency in charge of appraisal shall review the project and compare it with the approved investment policy decision.

Article 22. Time limits for appraising public investment programs and projects

1. The time limit for appraising a public investment program or project without construction components, counted from the date the agency in charge of appraisal receives a complete and valid dossier, is:

a/ Forty working days, for national target programs;

b/ Thirty working days, for public investment programs (except national target programs);

c/ Thirty working days, for group-A projects;

d/ Twenty working days, for group-B and group-C projects;

In case the dossier is invalid or contents of the feasibility study report of the program or project fail to comply with Article 47 of the Law on Public Investment, within 3 working days after receiving the dossier, the appraisal council or agency in charge of appraisal shall send written opinions to the appraisal-requesting agency for the latter to complete the dossier or finalize contents of the report.

2. The time limit for appraising a public investment project with construction components must comply with the construction law.

Article 23. Dossiers to be submitted to competent authorities for deciding on investment in programs or projects

1. A dossier to be submitted to a competent authority for deciding on investment in a program or project must comprise:

a/ A written request for a competent authority to decide on investment in a program or project, and the feasibility study report that has been finalized based on appraisal opinions;

b/ The decision on investment policy for the program or project;

c/ A report on appraisal of the feasibility study report;

d/ Other relevant documents (if any).

2. A dossier to be submitted to a competent authority for deciding on investment in a project on compensation, support, resettlement and ground clearance which is separated into an independent project under the Law on Public Investment is as follows:

a/ For projects with construction components, the dossier must comply with the construction law;

b/ For projects without construction components, the dossier must comply with this Decree and relevant regulations;

c/ Projects on compensation, support, resettlement and ground clearance and the other projects separated from national important projects or group-A, group-B or group-C projects  under Clause 2, Article 6 of the Law on Public Investment shall be classified into groups as those stated in investment policy decisions.

Article 24. Contents of decisions and time limits for deciding on public investment programs and group-A, group-B and group-C projects

1. Contents of decisions on public investment programs and group-A, group-B and group-C projects:

a/ A decision on a public investment program must have the following principal contents: objectives, scope and scale of the program; total capital and structure of resources for implementation of the program, covering the list of projects, the capacity to balance public investment capital sources and mobilize other funding sources and resources; capital allocation plan and program implementation schedule; relevant expenses in the process of program implementation and expenses for operation after the program is completed; component projects of the program; and implementation organization solutions;

b/ A decision on a public investment project without construction components must have the following principal contents: name of the project; project owner; project formulation consultant (if any); objectives and scale of investment and project implementation schedule; project location; technological design (if any); technical regulations; total investment; funding sources and expected allocation of funding sources according to schedule; and applicable form of project management organization;

c/ A decision on a public investment project with construction components must comply with the construction law.

2. The time limit for deciding on investment in a program or project, counted from the date an authority competent to decide on investment receives a complete and valid dossier, is:

a/ Ten working days, for public investment programs;

b/ Seven working days, for group-A projects;

d/ Five working days, for group-B and group-C projects.

3. Within 5 working days after the competent authority decides on investment in a program or project:

a/ The ministry or central agency and local authority managing the program or project shall, for programs and projects funded by the central budget, send the approved decision on investment in the program or project to the Ministry of Finance;

b/ The agency managing the program or project shall, for programs and projects funded by local budgets, send the approved decision on investment in the program or project to the provincial-level Department of Finance and the same-level specialized agency in charge of investment management.

Article 25. Contents, order and procedures for formulating and appraising, and deciding on adjustment of, public investment programs and group-A, group-B and group-C projects

1. The owner of a public investment program or project shall:

a/ Organize the evaluation of the whole process of program or project implementation up to the time of request for adjustment; and report evaluation results to an authority competent to decide on investment;

b/ Assign the specialized agency concerned to prepare a feasibility study report on adjustment of the program or project. This report must clearly state reasons for the adjustment, ensuring compliance with Article 46 of the Law on Public Investment;

c/ Organize internal appraisal of adjustment of the program or project;

d/ Finalize the feasibility study report on adjustment of the program or project and submit it to a competent authority for deciding on the adjustment of the program or project.

2. Order and procedures for appraising, and deciding on adjustment of, programs:

a/ The order for appraising, and deciding on adjustment of, national target programs must comply with Article 40 of the Law on Public Investment;

b/ The order for appraising, and deciding on adjustment of, public investment programs subject to the Government’s investment policy decision must comply with Article 41 of the Law on Public Investment;

c/ The order for appraising, and deciding on adjustment of, public investment programs subject to investment policy decision by People’s Councils must comply with Article 42 of the Law on Public Investment.

3. Order and procedures for appraising, and deciding on adjustment of, projects:

a/ The order and procedures for appraising, and deciding on adjustment of, projects without construction components must comply with Clause 2, Article 43 of the Law on Public Investment;

b/ The order and procedures for appraising, and deciding on adjustment of, projects with construction components must comply with the construction law and other relevant laws.

4. A dossier to be submitted to a competent authority for deciding on adjustment of a program or project must comprise:

a/ A written request for a competent authority to decide on adjustment of a program or project, which must state the purpose of and reason for adjustment as specified in Clause 1 or 2, Article 46 of the Law on Public Investment;

b/ A feasibility study report on adjustment of the program or project, including the adjusted contents of the feasibility study report specified Article 47 of the Law on Public Investment;

c/ The decision on investment policy for the program or project; decision on adjustment of investment policy for the program or project (if any);

d/ The decision on investment in the program or project; previous decision on investment in the adjusted program or project (if any);

dd/ The report on internal appraisal of the proposal on adjustment of the program or project, and other appraisal reports as specified by law (if any);

e/ The report on appraisal, examination and evaluation of the program or project implementation as specified in Clause 4, Article 46 of the Law on Public Investment;

e/ Other relevant documents (if any).

5. Contents of appraisal of the adjustment of a program or project:

a/ Contents of appraisal of the feasibility study report on adjustment of a program must comply with Clause 2, Article 20 of this Decree, for the contents proposed for adjustment;

b/ Contents of appraisal of the feasibility study report on adjustment of a public investment project without construction components must comply with Clause 2, Article 21 of this Decree, for the contents proposed for adjustment;

c/ Contents of appraisal of the feasibility study report on adjustment of a public investment project with construction components must comply with the construction law and other relevant laws.

Chapter IV

MANAGEMENT OF IMPLEMENTATION OF INVESTMENT PREPARATION TASKS, , PLANNING TASKS AND ,PUBLIC INVESTMENT PROJECTS WITHOUT CONSTRUCTION COMPONENTS

Article 26. Organization of management of the implementation of investment preparation tasks, planning tasks and public investment projects without construction components

1. Heads of agencies assigned to formulate the national overall master plan, national marine space master plan, national land-use master plan or regional master plans and heads of agencies organizing the formulation of national sectoral master plans or provincial plans shall decide on the forms of organization of management of the performance of planning tasks to meet management requirements and suit specific conditions of such tasks, such as establishing management units, hiring management consultants and assigning units to directly perform the management.

2. Costs of management of the performance of planning tasks must comply with the construction law’s provisions on project management costs.

3. Ministers, heads of central agencies, or chairpersons of People’s Committees at all levels shall decide on the forms of organization of management of the performance of investment preparation tasks to meet management requirements and suit specific conditions of such tasks in accordance with relevant specialized laws, such as establishing management units, hiring management consultants and assigning units to directly perform the management.

4. Persons competent to decide on investment in projects without construction components under the Law on Public Investment shall decide on the forms of organization of management of the implementation of projects to meet the management requirements and suit specific conditions of such projects in accordance with relevant specialized laws, such as establishing project management units, hiring project management consultants and assigning the project owners to directly perform the management.

5. For urgent projects without construction components:

a/ Authorities competent to decide on investment in projects shall decide on the organization of management of urgent projects; and supervise the implementation of these projects and acceptance testing and handover of completed projects in accordance with the law on public investment and other relevant laws;

b/ Authorities competent to decide on investment in projects may authorize project owners to decide on and take responsibility for the organization of management of the implementation of the projects from the stage of formulation of a project to the stage of completion and putting of the project into operation and use, and shall take responsibility for such authorization.

Article 27. Project design

1. Authorities competent to decide on investment shall decide on project design plans to ensure the effectiveness of project implementation management, specifically as follows:

a/ One-step design is a detailed design, including documents demonstrated in commentaries, diagrams, descriptions of design contents and other technical requirements;

b/ Two-step design consists of a basic design and a detailed design. A basic design includes documents demonstrated in commentaries and preliminary diagrams of technical infrastructure designs, and other contents, which must show the design plan. The design of a step must conform to the principal contents and parameters of the design of the previous step.

2. Contents of the project design plan mentioned in Clause 1 of this Article must comply with relevant specialized laws.

Article 28. Contents and determination of total investment of projects

1. Preliminary total investment of a project is the estimated investment costs of the project determined in conformity with the contents of the project’s prefeasibility study report, for group-A projects, or investment policy proposal report, for group-B and group-C projects.

The preliminary total investment of a project shall be calculated based on the scale, capacity or service capacity of the project and the unit investment cost (if any) or cost data of similar projects in terms of type, scale and characteristics that have been or are being implemented, with adjustments and additions of other necessary costs.

2. Total investment of a project is the total investment costs of the project specifically determined in conformity with the one-step design or two-step design process prescribed in Clause 1, Article 27 of this Decree and other contents of the project’s feasibility study report.

3. Costs to be included in the total investment of a project include:

a/ Investment preparation costs;

b/ Costs for procurement of assets, houses and land;

c/ Costs of raw materials, spare parts and machine parts to implement the project;

d/ Equipment costs, including costs for procurement of equipment and technological equipment, training and technology transfer costs (if any), installation, testing and calibration costs and other related costs;

dd/ Salary and wage costs to implement the project;

e/ Transportation, insurance, and tax costs and other related charges and costs;

g/ Consultancy service costs, including costs for consultancy on survey and preparation of prefeasibility study reports, investment policy proposal reports and feasibility study reports; design costs; project supervision consultancy costs and other related consultancy costs (if any);

h/ Contingency costs, including contingency costs for the volume of arising work and contingency costs for price fluctuations during the project implementation period;

i/ Management costs and other cost components.

4. Sector-specific state management agencies shall prescribe standards, norms, and detailed contents of, and methods for determining, costs for use as a basis for determining the total investment of projects in the sectors and fields under their management.

5. Methods for determining a number of specific costs in the total investment of a project are as follows:

a/ Costs for procurement of assets, houses and land shall be determined based on the area, capacity or service capacity according to the basic design and in conformity with the time of determining the total investment, and the location of the project;

b/ Costs of raw materials, spare parts and machine parts (if any) to implement the project shall be calculated based on the quantity and quality of raw materials, spare parts and machine parts according to technical requirements and market prices;

c/ Equipment costs shall be determined based on the quantity, type of equipment or equipment system according to the selected technology, engineering and equipment plan, market prices and other related costs;

d/ Salary and wage costs shall be determined based on standard norms, wages and salaries of employees as prescribed by law;

dd/ Transportation, insurance, tax and other related charges and costs shall be calculated in accordance with law and freight rates;

e/ Consultancy service costs shall be determined based on consultancy jobs of similar projects that have been implemented or determined by estimating each spending item for consultancy jobs according to the law-prescribed norms (if any) or market prices;

g/ Contingency costs for additional jobs and price fluctuations during the project implementation period shall be determined as a percentage (%) of the total investment and each specific cost element specified in Clause 3 of this Article;

h/ Management costs and other costs shall be determined in accordance with law and the characteristics and management organization of the project.

Article 29. Contents and determination of projects’ cost estimates

1. The cost estimates of a project are all necessary costs to implement the project as determined at the project implementation stage in conformity with the feasibility study report and approved design of the project and other jobs to be performed.

2. Projects’ cost estimates must cover the costs specified in Clause 3, Article 28 of this Decree.

3. Projects’ cost estimates shall be determined on the basis of calculating the cost items specified in Clause 3, Article 28 of this Decree at the time of making the cost estimates in accordance with competent agencies’ regulations on standards, norms and methods.

Article 30. Competence to appraise and approve designs and cost estimates of projects

1. For projects managed by ministries or central agencies, the functional units assigned by the ministries or central agencies shall assume the prime responsibility for organizing the appraisal of the projects’ designs and investment cost estimates, and submit them to the authority with the competence to make investment decision for approval, in case of applying the one-step design process. Project owners shall approve detailed designs and cost estimates in case of applying the two-step design process. Detailed designs and cost estimates shall be approved simultaneously but not separately.

2. For projects managed by provincial-level People’s Committees, the functional units assigned by the provincial-level People’s Committees shall assume the prime responsibility for, and coordinate with sector-specific management departments in, organizing the appraisal of the projects’ designs and investment cost estimates, and submit them to the Chairpersons of the provincial-level People’s Committees or the agencies delegated or authorized to make investment decision for approval, in case of applying the one-step design process. Project owners shall approve detailed designs and cost estimates in case of applying the two-step design process. Detailed designs and cost estimates shall be approved simultaneously but not separately.

3. For projects managed by district- or commune-level People’s Committees and projects for which the competence to make the investment decision has been authorized by Chairpersons of provincial-level People’s Committees, the assigned functional units under the district- or commune-level People’s Committees shall assume the prime responsibility for appraising the projects’ designs and investment cost estimates, and submit them to the Chairpersons of the same-level People’s Committees for approval, in case of applying the one-step design process. Project owners shall approve detailed designs and cost estimates in case of applying the two-step design process. Detailed designs and cost estimates shall be approved simultaneously but not separately.

Article 31. Order, procedures and time limits for appraisal of projects’ designs and cost estimates

1. Project owners shall send projects’ design dossiers and cost estimates and assign functional units to carry out the appraisal based on the contents specified in Article 32 of this Decree.

2. The functional units assigned to carry out the appraisal shall assume the prime responsibility for, and coordinate with related agencies in, organizing the appraisal of the contents of designs and cost estimates according to Articles 27 and 29 of this Decree. During the appraisal process, the agencies in charge of appraisal may invite organizations and individuals with appropriate expertise and experience to participate in the appraisal of each part of projects’ designs and investment cost estimates to serve appraisal work.

3. The time limit for functional units assigned to carry out the appraisal to appraise projects’ designs and investment cost estimates, counted from the date of receipt of a complete and valid dossier, is:

a/ Twenty-five working days, for group-A projects;

b/ Twenty working days, for group-B projects; or,

c/ Ten working days, for group-C projects.

Article 32. Contents of appraisal and approval of projects’ designs and cost estimates

1. The appraisal of projects’ designs and cost estimates must cover the contents specified in Articles 27 and 29 of this Decree and the contents specified in Clause 2 of this Article.

2. The approval of the design and cost estimates of a project must cover:

a/ General information about the project: project name, project items (specifying the project group); project owner, project investment design contractor; and project location (if any);

b/ Scale, technology, technical parameters and main economic and technical indicators of the project;

c/ National technical regulations and main standards to be applied;

d/ Main design solutions of project items and the entire project;

dd/ Investment cost estimates of the project;

e/ Requirements for completion and supplementation of the design dossier, and other contents (if any).

3. The time limit for approval of projects’ designs and cost estimates by competent authorities, counted from the date of receipt of a complete and valid dossier, is:

a/ Ten working days, for group-A projects;

b/ Seven working days, for group-B projects;

c/ Three working days, for group-C projects.

Article 33. Dossiers for appraisal of the design and cost estimates of a project

1. A written request for appraisal of the design.

2. A commentary document on the design, design drawings (if any), and related survey documents.

3. A copy of the project’s investment policy decision (except projects not subject to approval of investment policy decision as specified in Clause 6, Article 19 of the Law on Public Investment) and the investment decision, enclosed with the approved design dossier.

4. The project owner’s report on the conformity of the design dossier with regulations.

5. The project’s investment cost estimates.

Article 34. Acceptance testing for commissioning and operation of projects

1. A project shall be commissioned and put into operation after it has been fully completed in accordance with the approved design, is operating in compliance with technical requirements, and has passed the acceptance testing in terms of quality.

2. Depending on the specific conditions of each project, it is permissible to hand over each item, component project, or the entire completed project for commissioning and operation.

3. The acceptance testing and handover minutes of project items, component projects, or the entire completed projects serve as a basis for project owners to commission and operate projects, and to carry out account-finalization for completed projects according to regulations.

4. All completed projects must have their accounts finalized according to regulations.

5. The handover dossier of a project must comprise: the project completion dossier; manuals for operation and use; and project maintenance regulations.

6. Project investment dossiers shall be submitted for archiving in accordance with the law on state archives.

Article 35. Completion of project investment

1. An investment project shall be completed when the entire project has been handed over to the project owner and the law-prescribed warranty period has expired.

2. Prior to handover, contractors shall remove all of their assets (if any) from construction sites.

Article 36. Project operation

1. After handed over projects, project owners or organizations assigned to manage and operate the projects shall operate and exploit the projects, ensuring their efficiency in accordance with their intended purpose and the approved techno-economic indicators.

2. Project owners or organization assigned to manage and operate the projects shall perform the maintenance, repair and upkeep of the projects according to regulations.

Chapter V

ORDER AND PROCEDURES FOR INVESTMENT FOR CASES ENTITLED TO PREFERENTIAL CREDIT INTEREST RATE AND MANAGEMENT FEE SUBSIDIES; ALLOCATION OF CHARTER CAPITAL FOR POLICY BANKS AND OFF-BUDGET STATE FINANCIAL FUNDS; INVESTMENT SUPPORT FOR OTHER POLICY BENEFICIARIES UNDER DECISIONS OF THE GOVERNMENT OR THE PRIME MINISTER

Article 37. Order and procedures for medium-term public investment with regard to allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for policy banks

1. Contents of a report on the medium-term public investment plan regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for a policy bank:

a/ The situation and results of implementation of investment credit capital and policy credit capital plans of the policy bank in the previous period;

b/ Socio-economic development goals; development orientations; policy credit programs assigned by the State, development strategies of the policy bank in the medium term, and tentative preferential credit plans in the next period;

c/ Capacity to mobilize capital and balance sources to implement the investment credit capital and policy credit capital plans in the medium term;

d/ Total capital of the medium-term public investment plan from the state budget, including charter capital, and preferential credit interest rate and management fee subsidies for the policy bank in the previous period;

dd/ Principles and criteria for allocating capital under the medium-term public investment plan for allocation of charter capital and provision of preferential credit interest rate and management fee subsidies;

e/ Tasks concerning investment credit and policy credit assigned by the State in the medium term in conformity with the capacity to balance public investment capital and mobilize other lawful capital sources to implement goals and tasks;

g/ Management solutions, implementation organization and expected results.

2. Policies banks shall synthesize their reports on tentative medium-term public investment plans regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies based on the contents specified in Article 1 of this Article, and send these reports to the Ministry of Finance.

3. The order and procedures for formulation, approval and assignment of medium-term public investment plans regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for policy banks must comply with Article 59 of the Law on Public Investment.

Article 38. Order and procedures for implementing annual public investment plans regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for policy banks

1. Contents of a report on the annual public investment plan regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for a policy bank:

a/ The situation and results of implementation of the investment credit capital and policy credit capital plan of the previous year of the policy bank;

b/ The situation of implementation of the public investment plan of the previous year of the policy bank;

c/ The medium-term public investment plan regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for the policy bank;

d/ Development orientations and strategies of the policy bank in the planning year;

dd/ The tentative preferential credit capital plan;

e/ Tasks to be performed in the planning year in conformity with the capacity to balance public investment capital and mobilize other lawful capital sources;

g/ Demands for state budget capital in the planning year;

h/ Management solutions, implementation organization and expected results.

2. Policy banks shall synthesize their reports on tentative annual public investment plans regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies based on the contents specified in Clause 1 of this Article, and send these reports to the Ministry of Finance.

3. The order of formulation, approval and assignment of annual public investment plans regarding allocation of charter capital and provision of preferential credit interest rate and management fee subsidies for policy banks must comply with Article 60 of the Law on Public Investment.

Article 39. Interest rate subsidies for commercial banks

1. The State Bank of Vietnam shall synthesize the needs for interest rate subsidies of commercial banks implementing policies as decided by competent authorities in the medium-term and annual public investment plans, formulate and send reports to the Ministry of Finance for synthesis and reporting to competent authorities.

2. The order of formulating and approving medium-term and annual plans on provision of interest rate subsidies for commercial banks reported by the State Bank of Vietnam must comply with Articles 59 and 60 of the Law on Public Investment.

Article 40. Order and procedures for implementing medium-term public investment plans regarding allocation of charter capital to off-budget state financial funds

1. Contents of a report on the medium-term public investment plan regarding allocation of charter capital to an off-budget state financial fund:

a/ The situation and results of management and use of charter capital at the off-budget state financial fund in the previous period;

b/ Orientation, goals, strategic tasks, and plans regarding socio-economic development and development of relevant sectors and fields;

c/ Charter capital scale of the fund, assessment of the necessity for allocation of charter capital at the off-budget state financial fund;

d/ Estimated total capital and resource structure, mobilization of other lawful capital sources for allocation of charter capital to the off-budget state financial fund;

dd/ Preliminary analysis and assessment of the influences and impacts on relevant sectors and fields upon allocation of charter capital, calculations of socio-economic efficiency;

e/ Implementation solutions and expected results.

2. Procedures for formulating a report on the medium-term public investment plan regarding allocation of charter capital to an off-budget state financial fund:

a/ Based on the Prime Minister’s directive as prescribed in Article 59 of the Law on Public Investment, the off-budget state financial fund shall prepare its medium-term public investment plan regarding allocation of charter capital and report thereon to the specialized agency in charge of public investment management of the ministry, central agency or locality assigned to act as its managing unit for consideration;

b/ The specialized agency in charge of public investment management of the ministry, central agency or locality shall finalize the report on the medium-term public investment plan regarding allocation of charter capital to the affiliated off-budget state financial fund based on the contents specified in Clause 1 of this Article, and include them into the medium-term public investment plan of the ministry, central agency or locality and send such plan to the Ministry of Finance.

3. The order for formulating medium-term public investment plans regarding allocation of charter capital to off-budget state financial funds must comply with Article 59 of the Law on Public Investment.

Article 41. Order and procedures for implementing annual public investment plans regarding allocation of charter capital to off-budget state financial funds

1. Contents of a report on the annual public investment plan regarding allocation of charter capital to an off-budget state financial fund:

a/ The situation and results of management and use of charter capital in the year preceding the planning year of the off-budget state financial fund;

b/ Orientations for allocation of charter capital in the planning year, charter capital needs of the off-budget state financial fund;

c/ Estimated total capital and resource structure, mobilization of other lawful capital sources for provision of charter capital;

d/ Preliminary analysis and assessment of the influences and impacts on relevant sectors and fields upon allocation of charter capital and calculations of the investment efficiency in terms of socio-economic development;

dd/ Management solutions, implementation organization and expected results.

2. Order for formulating a report on the implementation of the annual public investment plan regarding allocation of charter capital to an off-budget state financial fund:

a/ Based on the medium-term public investment plan approved by the competent authority and the Prime Minister’s regulations as prescribed in Article 60 of the Law on Public Investment, the off-budget state financial fund shall formulate an annual public investment plan regarding allocation of charter capital and submit it to the specialized agency in charge of public investment management of the ministry, central agency or locality assigned to act as its managing unit for consideration;

b/ The specialized agency in charge of public investment management of the ministry, central agency and locality shall finalize the report on the annual public investment plan regarding allocation of charter capital to its affiliated off-budget state financial fund based on the contents specified in Clause 1 of this Article, and include it in the annual public investment plan of the ministry, central agency or locality and send the report to the Ministry of Finance.

3. The order for formulating annual public investment plans regarding allocation of charter capital to off-budget state financial funds must comply with Article 60 of the Law on Public Investment.

Article 42. Investment support for other subjects under decisions of the Government or the Prime Minister

1. Based on the tasks assigned by competent authorities, ministries, central agencies and localities shall formulate, appraise, and submit to the Government or the Prime Minister for decision, plans on investment support for other subjects, including mechanisms for use of public investment capital for other subjects.

2. Order for formulating and appraising reports on medium-term and annual public investment plans regarding provision of investment support for subjects according to the Government’s decrees or the Prime Minister’s decisions:

a/ Based on the Prime Minister’s directives and regulations as prescribed in Articles 59 and 60 of the Law on Public Investment, agencies in charge of support policy implementation shall formulate medium-term and annual public investment plans regarding provision of investment support for policy beneficiaries under decisions of the Government or the Prime Minister, report thereon to competent authorities for consideration, and draft medium-term and annual public investment plans; and send them to the Ministry of Finance;

b/ The order for formulating medium-term and annual public investment plans regarding provision of investment support for policy beneficiaries under decisions of the Government or the Prime Minister must comply with the provisions of Articles 59 and 60 of the Law on Public Investment.

Chapter VI

FORMULATION, APPROVAL, ASSIGNMENT, IMPLEMENTATION, MONITORING, INSPECTION AND EVALUATION OF PUBLIC INVESTMENT PLANS

Article 43. Order for formulating, approving and assigning medium-term public investment plans using state budget capital

1. Before June 15 of the fourth year of a medium-term public investment plan, the Ministry of Finance shall submit to the Prime Minister for promulgation a directive on formulation of the medium-term public investment plan for the next period.

2. Before July 1 of the fourth year of a medium-term public investment plan, the Ministry of Finance shall report to the Government for submission to the National Assembly Standing Committee for approval the principles, criteria and norms for allocation of medium-term public investment capital for the next period.

3. Pursuant to regulations of the National Assembly Standing Committee and the Prime Minister, ministries and central agencies shall:

a/ Assign specialized agencies in charge of public investment management to guide affiliated agencies and units to estimate needs under the medium-term public investment plan of the next period, detailed by capital source and capital level for each program, task and project and each of other public investment objects;

b/ Synthesize needs under the medium-term public investment plan for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects, and send them to the Ministry of Finance according to the schedule set by the Prime Minister.

4. Pursuant to regulations of the National Assembly Standing Committee and the Prime Minister, provincial-level People’s Committees shall:

a/ Guide local agencies and units to estimate needs under the medium-term public investment plan for the next period;

b/ Assign provincial-level specialized agencies in charge of public investment management to synthesize the needs under the provincial-level medium-term public investment plan for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects, and submit them to provincial-level People’s Committees for submission to provincial-level People’s Councils for opinion;

c/ Synthesize the needs under provincial-, district- and commune-level medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects, and submit them to the Ministry of Finance according to the schedule set by the Prime Minister.

5. Before December 15 of the fourth year of a medium-term public investment plan, the Ministry of Finance shall submit to the Government the estimated capacity to balance the state budget for development investment expenditures for the next period for each ministry, central agency and locality, and the Prime Minister shall notify the total public investment capital for the next period to ministries, central agencies and localities.

6. On the basis of the estimated capacity to balance the state budget for public investment expenditures for the next period already approved by the Government, ministries and central agencies shall:

a/ Notify the estimated capacity to balance the state budget for public investment expenditures for the next period to each affiliated agency and unit for use as a basis for formulating the tentative medium-term public investment plan for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects under their management;

b/ Assign specialized agencies in charge of public investment management to synthesize tentative medium-term public investment plans for the next period, detailed by capital source and capital level for each program, task and project and each of other public investment subjects and the contents as specified in Article 52 of the Law on Public Investment, and send them to the Ministry of Finance according to the schedule set by the Prime Minister and instructions of the Ministry of Finance.

7. On the basis of the estimated capacity to balance the state budget for public investment expenditures for the next period already approved by the Government, provincial-level People’s Committees shall:

a/ Notify each affiliated agency and unit and People’s Committee at all levels of the estimated capacity to balance the state budget for public investment expenditures for the next period for use as a basis for formulation of the tentative medium-term public investment plan for the next period;

b/ Assign provincial-level specialized agencies in charge of public investment management to synthesize tentative provincial-level medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment object, and submit them to provincial-level People’s Committees for submission to provincial-level People’s Councils for opinion before July 31 of the fifth year of the medium-term public investment plan of the previous period;

c/ Assign district- and commune-level People’s Committees to formulate their own tentative medium-term public investment plans for the next period, submit them to the same-level People’s Councils for opinion before July 31 of the fifth year of the medium-term public investment plan of the previous period, and finalize and send it to the superior-level People’s Committees according to regulations;

d/ Synthesize tentative provincial-, district, and commune-level medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects and the contents as specified in Article 52 of the Law on Public Investment, and send them to the Ministry of Finance before August 30 of the fifth year of the medium-term public investment plan of the previous period.

8. The Ministry of Finance shall assume the prime responsibility for, and coordinate with related agencies in, synthesizing and submitting to the Government for submission to the National Assembly at the year-end session of the fifth year of the National Assembly’s term of office the tentative medium-term public investment plan for the next period so that the National Assembly can give its opinions on the contents specified in Article 52 of the Law on Public Investment.

9. Based on the opinions of the National Assembly at the year-end session of the fifth year of the National Assembly’s term of office, ministries and central agencies shall:

a/ Assign their affiliated agencies and units to complete medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project under their management;

b/ Assign specialized agencies in charge of public investment management to synthesize detailed medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects and the contents as specified in Article 52 of the Law on Public Investment, and send them to the Ministry of Finance according to the schedule set by the Prime Minister and instructions of the Ministry of Finance.

10. Based on the opinions of the National Assembly at the year-end session of the fifth year of the National Assembly’s term of office, provincial-level People’s Committees shall:

a/ Assign their affiliated agencies and units to complete medium-term public investment plans for the next period, send them to provincial-level specialized agencies in charge of  public investment management for synthesizing provincial-level medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project and each of other public investment objects, and submit them to provincial-level People’s Committees for submission to provincial-level People’s Councils for approval before March 10 of the first year of the medium-term public investment plan;

b/ Assign district- and commune-level People’s Committees to finalize their own medium-term public investment plans for the next period, submit them to the same-level People’s Councils for approval before March 10 of the first year of the next medium-term public investment period for the next period, and send them to superior-level People’s Committees according to regulations;

c/ Synthesize provincial-, district- and commune-level medium-term public investment plans for the next period, detailed by each capital source and capital level for each program, task and project, and each of other public investment objects and the contents as specified in Article 52 of the Law on Public Investment, and send them to the Ministry of Finance according to the schedule set by the Prime Minister and instructions of the Ministry of Finance.

11. At the first session of the National Assembly of the new term of office, the Ministry of Finance shall assume the prime responsibility for, and coordinate with related agencies in, submitting the medium-term public investment plan to the Government for submission to the National Assembly of the new term of office for consideration and decision.

Article 44. Procedures for formulation, approval and assignment of annual public investment plans using state budget capital

1. Before May 15 every year, the Prime Minister shall promulgate the regulations on formulation of the socio-economic development plan and state budget estimates for the subsequent year, covering the objectives, main orientations, and assignment of tasks of formulating the public investment plan for the subsequent year.

2. Before June 15 every year, the Ministry of Finance shall provide ministries, central agencies and localities with instructions regarding socio-economic development plans and the objectives, requirements, contents, time and schedule for formulation of public investment plans for the subsequent year.

3. Before June 30 every year, ministries, central agencies and localities shall guide their subordinate agencies and units to formulate public investment plans for the subsequent year.

4. Before July 30 every year, ministries, central agencies and provincial-level People’s Committees shall summarize needs under annual public investment plans using state budget capital for submission to the Ministry of Finance.

5. Before August 10 every year, the Ministry of Finance shall submit to the Government the estimated state budget revenues and expenditures and development investment expenditures from the source of state budget capital for the subsequent year’s plan.

6. At the year-end sessions of the People’s Councils, People’s Committees at all levels shall submit to the same-level People’s Councils the public investment plans for the subsequent year, including lists of projects, and the capital amount to be allocated for each project.

7. Ministries, central agencies and provincial-level People’s Committees shall summarize annual public investment plans, including lists of, and the capital amounts to be allocated for, public investment programs, tasks and projects, and other public investment objects, and send these plans to the Ministry of Finance before September 1 every year.

8. Before September 20 every year, the Ministry of Finance shall summarize the national public investment plan for the subsequent year and report it to the Government.

Article 45. Formulation of medium-term investment plans using lawful revenues of state agencies and public non-business units that are reserved for investment

1. Based on the Prime Minister’s directives as specified in Article 59 of the Law on Public Investment, ministries, central agencies or provincial-level People’s Committees shall guide state agencies and public non-business units using their lawful revenues that are reserved for investment to formulate medium-term investment plans, and report thereon to their managing ministries, central agencies or People’s Committees for summarization and reporting the Ministry of Finance for the latter to summarize and report thereon to the Government and the National Assembly.

2. State agencies and public non-business units shall formulate medium-term investment plans using lawful revenues of state agencies and non-business units that are reserved for investment with the following contents:

a/ The situation and results of implementation the medium-term investment plans in the previous period;

b/ Objectives of, and orientations on the structure of investment in the medium-term investment plans of the subsequent period;

c/ The capacity for mobilizing and balancing capital from lawful revenues of state agencies and public non-business units that are reserved for investment; estimated total investment capital for fulfilling objectives and tasks, including capital for investment preparation, implementation of projects, repayment of advanced amounts, and repayment of due loans;

d/ Total capital of medium-term public investment plans of the state agencies or public non-business units under their management, specifying the capital of each central agency or public non-business unit;

dd/ Principles and criteria for allocation of capital in the medium-term investment plans;

e/ List of investment projects in an order of priority that is suitable to the capital-balancing capacity and project implementation schedule;

g/ Estimated results.

Article 46. Formulation, appraisal, approval, and assignment of annual investment plans using lawful revenue sources of state agencies and public non-business units that are reserved for investment

1. Based the Prime Minister’s regulations as specified in Article 60 of the Law on Public Investment, ministries, central agencies or provincial-level People’s Committees shall guide state agencies and public non-business units using lawful revenues that are reserved for investment to formulate annual investment plans, and report thereon to their managing ministries, central agencies or People’s Committees for consideration and decision. The contents of the reports on annual investment plans using lawful revenues that are reserved for investment must comply with Article 53 of the Law on Public Investment;

Ministries, central agencies and provincial-level People’s Committees shall summarize annual investment plans using lawful revenues of state agencies and public non-business units that are reserved for investment and send reports thereon to the Ministry of Finance before July 31 of the year preceding the planning year for summarization and reporting to the Government and the National Assembly.

2. Ministers, heads of central agencies and People’s Committees at all levels shall establish appraisal councils or assign specialized agencies in charge of public investment management to appraise reports on annual investment plans of state agencies and public non-business units.

3. Based on the appraisal opinions specified in Clause 2 of this Article, state agencies and public non-business units shall finalize reports on annual investment plans for submission to ministries, central agencies or People’s Committees at all levels for consideration and decision.

4. Ministries, heads of central agencies and chairpersons of People’s Committees at all levels shall decide to approve and assign annual investment plans using lawful revenues of state agencies and public non-business units that are reserved for investment, including the total capital and the list of investment projects; and decide on the adjustment of the annual investment plans if needed, ensuring conformity with the actual capacity in accordance with the law on public investment and other relevant laws.

5. Ministries, central agencies and provincial-level People’s Committees shall summarize detailed plans on allocation of lawful revenues of state agencies and public non-business units that are reserved for investment for annual investment plans for submission to the Ministry of Finance within 3 working days from the date of assignment of the annual investment plans.

Article 47. Time limits for allocation of capital for project implementation

1. The time limits for allocation of capital for project implementation and the extension of the capital allocation time limits must comply with Article 57 of the Law on Public Investment.

2. In case the time limit for allocation of capital to a project has been extended under Points b and c, Clause 3, Article 57 of the Law on Public Investment but is still needed for further extension, the ministry, central agency or provincial-level People’s Committee shall review responsibilities of related organizations and individuals and report thereon to the Prime Minister for the latter to consider and decide on extension of the time limit for capital allocation, for projects funded by the central budget; the People’s Committee shall review responsibilities of related organizations and individuals and report thereon to the same-level People’s Council for the latter to consider and decide on extension of the time limit for capital allocation, for projects funded by local budgets, ensuring satisfaction of the following requirements:

a/ To give explanations on the necessity for extending the time limit for capital allocation, ensuring that the project for which the time limit for capital allocation is proposed to be extended will no longer face obstacles and capital disbursement will be completed within the capital allocation time limit proposed to be extended.

b/ To have a plan to ensure the allocation of sufficient state budget funds within the total investment level and the state budget capital plan, detailed by each source of central budget capital and local budget capital for the project.

Article 48. Implementation of public investment plans

1. Ministries, central agencies and localities shall complete the detailed allocation of state budget capital under annual public investment plans, the list of tasks and projects, and the amount of capital allocated to each task and project before December 31 of the year preceding the planning year; and report thereon to the Ministry of Finance before January 10 of the planning year.

2. The Ministry of Finance shall review reports on allocation of state budget capital under annual public investment plans submitted by ministries, central agencies and localities. In case of detecting that the allocation of state budget capital under the public investment plan of a ministry, central agency or locality does not conform with the total capital of its assigned public investment plan using state budget capital or the assigned capital amount for each sector or task, or fails to meet the requirements specified in the law on public investment, the Ministry of Finance shall give written opinions to the ministry, central agency or locality within 10 working days after receiving the latter’s report, and carry out the expenditure control procedures.

3. In case ministries, central agencies and localities do not fully allocate the assigned central budget capital for public investment plans, the Ministry of Finance shall summarize and report thereon to competent authorities for the latter to consider and decide to recover and transfer such amounts to other ministries, central agencies and localities having demands for capital before June 30 of the planning year.

4. Ministers, heads of central agencies and localities shall direct and administer the implementation of solutions to accelerate the disbursement of capital under annual public investment plans, ensuring full disbursement for assigned capital plans in accordance with the Law on Public Investment.

In case of failing to fully disburse the central budget funds assigned under annual investment plans, and it is not permitted to extend the implementation duration and disbursement of the plans to the subsequent year, ministries, central agencies and localities shall allocate sufficient capital in their investment plans using the central budget funds of the subsequent years to complete the tasks and projects on schedule, avoiding any arising outstanding capital construction debts.

Article 49. Reporting to competent authorities on the implementation of public investment plans

1. Ministries, central agencies and provincial-level People’s Committees shall report in detail on the implementation of, and cumulative disbursement of the assigned capital under, their medium-term public investment plans and the implementation of, and disbursement of capital under, their annual public investment plans to the Ministry of Finance as follows:

a/ Before July 31 of the third year of the medium-term public investment plan, to report on the implementation of, and cumulative disbursement of assigned capital under, the medium-term public investment plan by the end of the second quarter of the third year of the plan;

b/ Before July 31 of the fifth year of the medium-term public investment plan, to report on the estimated implementation of, and cumulative disbursement of assigned capital under, the medium-term public investment plan by the end of the last year of the plan;

c/ Regarding the implementation of, and disbursement of capital under, annual public investment plans:

Before the 15^th of every month, to report on the estimated disbursement capital in the entire month and the actual disbursement of capital in the previous month;

Before the 10^th of the first month of each quarter, to report on the disbursement results of the previous quarter;

Before July 10 of the planning year, to report on the detailed cumulative disbursement for projects in the first 6 months of the year;

Before February 28 of the year following the planning year, to report in detail on the actually disbursed capital amount for the projects in the entire planning year and the capital amounts of projects permitted for extension of the implementation and disbursement into the year following the planning year;

Particularly for public investment capital plans under national target programs, to only report on the total amount of each capital source of each program;

d/ To report on the adjustment of annual public investment plans using the central budget within their ministries, central agencies or localities right after adjustment decisions are issued;

dd/ Other information serving the formulation, monitoring and evaluation of the national medium-term and annual public investment plans as well as plans of ministries, central agencies and localities;

e/ The Ministry of Finance shall provide the reporting regime and forms on the implementation of, and disbursement of capital under, medium-term and annual public investment plans.

2. The Ministry of Finance shall periodically report to the Prime Minister as follows:

a/ To make monthly, quarterly, annual, mid-term and 5-year reports on the cumulative disbursement of assigned capital under medium-term public investment capital plans and the implementation of, and disbursement of state budget capital under, annual public investment plans using state budget capital;

b/ To make biannual, annual, mid-term and 5-year detailed reports on disbursement of capital under investment capital plans of projects funded by the central budget. Particularly for public investment capital plans under national target programs, to report only on the total capital of each program.

3. The Ministry of Finance shall make public information on monthly disbursement of state budget capital under public investment plans of ministries, central agencies and localities in the mass media.

4. The reporting on the implementation of medium-term and annual public investment plans by local authorities and sectors is as follows:

a/ The specialized agencies in charge of public investment management shall submit to provincial-level People’s Committees for promulgation the regulations on the reporting, provision of information, and time limits for reporting on medium-term and annual public investment plans of provincial-level departments and subordinate People’s Committees, ensuring  compliance with regulations on monitoring and evaluation of plans, programs and projects using medium-term and annual public investment capital under the Law on Public Investment and this Decree, and the requirements for managing and administering public investment plans of localities;

b/ Provincial-level departments and agencies and subordinate People’s Committees shall implement the reporting and information provision regime as specified at Point a of this Clause.

Article 50. Order and procedures for adjustment of medium-term and annual public investment plans using state budget capital

1. Ministers, heads of central agencies and provincial-level People’s Committees shall, based on the necessity and requirements on the progress of implementing and disbursing capital for projects, assign specialized agencies in charge of public investment management to review and propose plans to adjust their medium-term and annual public investment plans using central budget capital, and submit such plans to competent authorities for decision under Article 71 of the Law on Public Investment.

2. People’s Committees at all levels shall, based on the necessity and requirements on the progress of implementing and disbursing capital for projects, assign specialized agencies in charge of public investment management to review and propose plans to adjust medium-term and annual public investment plans using local budget capital, and submit such plans to competent authorities for decision under Article 71 of the Law on Public Investment.

3. The adjustment of annual investment plans using state budget capital among projects of a ministry, central agency or locality shall be made before November 15 of the planning year.

Article 51. Principles of monitoring and evaluation of public investment plans

1. Principles of monitoring of public investment plans:

a/ Monitoring and systematically updating information and data related to the organization and implementation of public investment plans, including also the monitoring of programs and projects in approved public investment plans;

b/ Accurately, fully and truthfully reflecting information and data, and situation and results of implementation of public investment plans.

2. Principles of evaluation of public investment plans:

a/ Being based on objectives and tasks of the public investment plans approved by competent authorities;

b/ Evaluating socio-economic efficiency based on the objectives set out in the investment policy decisions and investment decisions of relevant programs or projects;

c/ Ensuring the objectivity, publicity and transparency and enhancement of accountability in evaluation of public investment plans,

d/ Ensuring close coordination with the Vietnam Fatherland Front Committees at all levels and residential communities in evaluation of the implementation of public investment plans.

Article 52. Monitoring, examination and evaluation of public investment plans

1. Monitoring and examination of implementation of public investment plans:

a/ The monitoring and examination of the formulation, appraisal, approval, assignment and implementation of public investment plans must comply with Article 73 of the Law on Public Investment;

b/ The Ministry of Finance shall guide ministries, central agencies and localities in monitoring and examination of medium-term and annual public investment plans in accordance with the law on public investment;

c/ Ministries and central agencies shall, based on the Ministry of Finance’s guidance, monitor the implementation of medium-term and annual public investment plans, covering the specific situation of implementation of, and disbursement of capital for, investment projects included in medium-term and annual public investment plans under their management;

d/ Provincial-level People’s Committees shall, based on the Ministry of Finance’s guidance, monitor, and guide provincial-level departments, agencies and subordinate People’s Committees in monitoring the implementation of medium-term and annual public investment plans, covering the specific situation of implementation of, and disbursement of capital for, investment projects included in medium-term and annual public investment plans of localities;

dd/ The Ministry of Finance shall monitor and summarize the disbursement of investment projects funded with the state budget.

2. Evaluation of implementation of public investment plans:

a/ Ministries, central agencies and provincial-level People’s Committees shall evaluate the implementation of medium-term and annual public investment plans under Article 74 of the Law on Public Investment; and periodically send a report on evaluation of implementation and results of, and shortcomings and limitations in, medium-term and annual public investment plans to the Ministry of Finance;

b/ The Ministry of Finance shall assume the prime responsibility for, and coordinate with related agencies in, reporting to the Prime Minister the mid-term evaluation of implementation of a medium-term public investment plan in the third year of the plan and whole-term evaluation of implementation of the plan in the final year of the plan; and evaluation of implementation of an annual public investment plan in September every year and before March 31 of the subsequent year;

c/ People’s Committees at all levels shall, based on the guidance of the Ministry of Finance and provincial-level People’s Committees, evaluate the implementation of public investment plans.

Article 53. National information system and national database on public investment

1. General regulations on use:

a/ Information and data collected and stored in the national information system and public investment and national database on public investment are primary-source information, data and documents of public investment programs, projects and plans. In case data in paper copies and those on the System are different, information on the System shall serve as a basis for formulation, appraisal, assignment and adjustment of medium-term and annual public investment plans, reporting on the implementation of public investment plans, and monitoring and evaluation of public investment programs and projects;

b/ A public investment project which is not included in the list of projects under public investment plans and for which data on assignment of capital are unavailable on the System shall not be entitled to capital disbursement;

c/ Organizations and individuals using the System shall be responsible for accuracy of statistics they report and update on the System;

d/ Organizations and individuals using the System shall use digital signatures to certify information and data updated on the national database on public investment, and to sign reports for sending to the System;

dd/ The provisions of this Article do not apply to projects subject to requirements on state secrets.

2. Regulations on system user accounts:

a/ User accounts shall be managed in a centralized manner on the System built by the Ministry of Finance;

b/ Organizations and individuals engaged or involved in public investment activities and management and use of public investment capital may register accounts to use the System. The Ministry of Finance shall grant accounts based on registration information, and functions and tasks of organizations and individuals participating in the System;

c/ Ministries, central agencies and localities shall be granted accounts to use the System for monitoring and updating information related to their public investment programs, projects and plans.

3. Order and procedures to be carried out on the System:

a/ Formulating, assigning and adjusting medium-term public investment plans;

b/ Formulating, assigning, adjusting, extending, and making advance payment of funds for, annual public investment plans;

c/ Reporting on the implementation of public investment plans;

d/ Monitoring and evaluating public investment programs, tasks and projects;

dd/ Managing, storing and publicizing data under regulations.

Chapter VII

IMPLEMENTATION PROVISIONS

Article 54. Transitional provisions

For programs and plans that are submitted to competent authorities for appraisal of and decision on investment policy and/or investment decision; appraisal of and decision on adjustment of investment policy and/or investment decision; and appraisal of designs and cost estimates of projects without construction components before the effective date of this Decree, the time limits for appraisal of and decision on investment policy and/or investment decision; appraisal of and decision on adjustment of investment policy and/or investment decision; and appraisal of designs and cost estimates of projects without construction components must comply with the Government’s Decree No. 40/2020/ND-CP of April 6, 2020, detailing the implementation of a number of articles of the Law on Public Investment.

Article 55. Effect

1. This Decree takes effect on the date of its signing.

2. For projects without construction components, the formulation, appraisal, approval and implementation management must comply with specialized laws. If specialized laws have yet to provide regulations thereon, the provisions of this Decree shall apply.

3.  For state budget-funded information technology projects, the order, procedures and dossiers for formulation, appraisal, investment decision and implementation management must comply with the Government’s Decree No. 73/2019/ND-CP of September 5, 2019, which is amended and supplemented under Decree No. 82/2024/ND-CP of July 10, 2024, on management of investment in state budget-funded application of information technology.

Article 56. Implementation responsibility

1. The Ministry of Finance shall guide the formulation, assignment, adjustment, monitoring and evaluation of public investment plans, programs, tasks and projects on the national information system on public investment and national database on public investment.

2. Ministers, heads of ministerial-level agencies, heads of other central agencies, chairpersons of provincial-level People’s Committees, and heads of related agencies and units shall implement this Decree.-

On behalf of the Government
For the Prime Minister
Deputy Prime Minister
HO DUC PHOC