Decision No. 49/2018/QD-TTg organization and operation charter of VTDF

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Decision No. 49/2018/QD-TTg of the Prime Minister on establishing, and approving the organization and operation charter of the Vietnam Tourism Development Fund
Issuing body: Prime MinisterEffective date:
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Official number:49/2018/QD-TTgSigner:Nguyen Xuan Phuc
Type:DecisionExpiry date:Updating
Issuing date:12/12/2018Effect status:
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Fields:Culture - Sports - Tourism

SUMMARY

The charter capital of the Vietnam Tourism Development Fund is VND 3 billion

The Prime Minister issues the Decision No. 49/2018/QD-TTg on establishing, and approving the organization and operation charter of the Vietnam Tourism Development Fund on December 12, 2018.

The Vietnam Tourism Development Fund (below referred to as the Fund) is a state-run off-budget financial fund operating after the model of single-member limited liability company with 100% of charter capital held by the State and having the Ministry of Culture, Sports and Tourism acting as the representative of the owner.

The Fund shall operate after the model of, and implement the financial mechanism applicable to, single-member limited liability companies with 100% of charter capital held by the State, operating not-for-profit purposes, conserving charter capital and covering management expenses by itself.

The charter capital of the Fund is VND 300,000,000,000 (three hundred billion) and shall be allocated from the central budget in 3 years after its establishment.

This Decision takes effect on February 1, 2019.

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Effect status: Known

THE PRIME MINISTER

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

No. 49/2018/QD-TTg

Hanoi, December 12, 2018

Decision

Establishing, and approving the organization and operation charter of the Vietnam Tourism Development Fund[1]

Pursuant to the June 19, 2015 Law on Organization of the Government;

Pursuant to the June 19, 2017 Tourism Law;

Pursuant to the June 25, 2015 Law on the State Budget;

Pursuant to the November 26, 2014 Law on Enterprises;

Pursuant to the Government’s Decree No. 168/2017/ND-CP of December 31, 2017, detailing a number of articles of the Law on Tourism;

At the proposal of the Minister of Culture, Sports and Tourism;

The Prime Minister promulgates the Decision establishing, and approving the organization and operation charter of the Vietnam Tourism Development Fund.

Article 1. To establish the Vietnam Tourism Development Fund

To establish the Vietnam Tourism Development Fund (below referred to as the Fund) under the Ministry of Culture, Sports and Tourism.

Article 2. Organization and operation charter of the Fund

To approve and promulgate together with this Decision the organization and operation charter of the Fund.

Article 3. Transitional provisions

1. The national tourism promotion program approved under the Prime Minister’s Decision No. 2151/QD-TTg of November 11, 2013, and the national action program on tourism approved under the Prime Minister’s Decision No. 321/QD-TTg of February 18, 2013, shall continue to be implemented until legal documents on the organization, apparatus, financial mechanism and accounting regime of the Fund are issued by competent authorities and charter capital and operating funds of the Fund in the first year are allocated from the state budget.

2. After the national tourism promotion program and national action program on tourism finish, the Fund shall allocate funds for further implementation of tasks under these two programs which have been approved by competent authorities and are being implemented.

3. In case funds of the national tourism promotion program and national action program on tourism are not used up, the remainder shall be forwarded to the Fund for performance its tasks according to regulations and included into its operating funds in the first year to be allocated from the state budget.

Article 4. Implementation provisions

1. This Decision takes effect on February 1, 2019.

2. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, provincial-level People’s Committee chairpersons, and related organizations and individuals shall implement this Decision.-

Prime Minister
NGUYEN XUAN PHUC

THE PRIME MINISTER

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

CHARTER

Of organization and operation of the Vietnam Tourism Development Fund

(Promulgated together with the Prime Minister’s Decision No. 49/2018/QD-TTg of December 12, 2018)


[1] Công Báo Nos 1155-1156 (27/12/2018)

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