Decree No. 85/2025/ND-CP dated April 08, 2025 on elaboration of Law on Public Investment

THE GOVERNMENT OF VIETNAM --------	THE SOCIALIST REPUBLIC OF VIET NAM Independence-Freedom-Happiness -----------------
No. 85/2025/ND-CP	Hanoi, April 08, 2025

DECREE

ELABORATION OF LAW ON PUBLIC INVESTMENT

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

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

At the request of the Minister of Finance of Vietnam;

The Government promulgates a Decree on elaboration of the Law on Public Investment.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Decree elaborates some Articles of the Law on Public Investment, including:

1. Clause 6 Article 5 regarding investment procedures and processes applicable to grant of subsidies to offset preferential lending interest rates and management fees; making of contribution to the charter capital of policy banks and state off-budget financial funds; provision of investment support for other policy beneficiaries under decisions of the Government or the Prime Minister.

2. Clause 7 Article 5 regarding conditions, criteria and principles for allocation of trusted funds for implementing preferential credit policies through branches of Vietnam Bank for Social Policies (VBSP) in provinces and central-affiliated cities.

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

4. Clause 2 Article 7 regarding industries, sectors using public investment capital.

5. Clause 12 Article 18 regarding decentralization of authority, procedures and processes for making decisions on investment policies for public investment programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes in compliance with regulations on financial autonomy of agencies and units; procedures and processes for making decisions on investment policies for projects funded by local-government budgets and implemented by central authorities, projects funded by district- or commune-level budgets and implemented by provincial- or district-level authorities; documentation requirements for, contents and time of appraisal and making of decisions on investment policies for public investment programs and projects.

6. Clause 1 Article 32 regarding principles, authority, procedures and processes for making decisions on investment policies for group-A, group-B and group-C public investment projects in foreign countries.

7. Clause 4 Article 37 regarding documentation requirements, procedures, processes and contents of adjustment of investment policies for programs or projects; cases in which investment policies for programs or projects are terminated, and implementation procedures and processes.

8. Clause 7 Article 38 regarding decentralization of authority, procedures and processes for granting decisions on investment in programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes in compliance with regulations on financial autonomy of agencies and units.

9. Clause 5 Article 43 regarding principles of, authority over, contents of, procedures and processes for formulation, appraisal and making of decisions on investment in public investment projects in foreign countries.

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

11. Clause 2 Article 48 regarding documentation requirements for grant of decisions on programs and projects, contents of, time limit for appraisal and grant of decisions on programs and projects.

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

13. Clause 10 Article 59 regarding procedures for formulation, approval and assignment of tasks of medium-term public investment plans using state budget's capital.

14. Clause 9 Article 60 regarding procedures for formulation, approval and assignment of tasks of annual public investment plans using state budget’s capital.

15. Clause 5 Article 62 regarding formulation, appraisal, approval and assignment of tasks of medium-term and annual plans using legitimate revenues retained by state regulatory authorities and public service units for investment purposes.

16. Clause 2 Article 69 regarding submission of review reports on implementation of public investment plans to competent authorities.

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

18. Clause 9 Article 71 regarding processes and procedures for adjustment of medium-term and annual public investment plans using the state budget’s capital.

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

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

21. Clause 2 Article 93 regarding grant of decisions on investment policies for projects which are funded by legitimate revenues of state regulatory authorities and public service units and implemented for 02 consecutive terms of medium-term public investment plans.

22. Clause 4 Article 101 regarding National database and information system regarding public investment.

Article 2. Regulated entities

This Decree applies to regulatory authorities, affiliates, organizations and persons participating or involved in public investment, management and use of public investment capital.

Article 3. Definitions

1. “report on proposal of adjustments for investment policy” means a document presenting adjustments to the investment policy proposal report for a program or project.

2. “adjusted feasibility study report” means a document presenting adjustments to the feasibility study report for a program or project.

3. “adjusted pre-feasibility study report” means a document presenting adjustments to the pre-feasibility study report for a project.

4. “granting subsidies to offset preferential lending interest rates and management fees” means an act of allocating public investment capital to offset any difference in interest rates and management fees that is likely to arise from lending funds to policy beneficiaries in accordance with regulations of law.

5. “making contribution to the charter capital of policy bank or state off-budget financial fund” means an act of allocating public investment capital used as the charter capital and an addition to the charter capital of a policy bank or state off-budget financial fund under a decision issued by a competent authority.

6. “public investment projects in foreign countries” (hereinafter referred to as “foreign public investment projects”) include investment projects on purchase of equipment, new construction, renovation and repair of working offices and houses for public officials and employees of Vietnam’s representative missions and other agencies in foreign countries using all or part of public investment capital; investment projects on purchase of houses, purchase of land and long-term lease of land in foreign countries for construction of working offices and houses for public officials and employees using all or part of public investment capital.

7. “investment support for other policy beneficiaries under the Government’s or the Prime Minister’s decision” means an act of allocating public investment capital for the purpose of implementing specific policies under a decision issued by the Government or the Prime Minister.

8. National database and information system regarding public investment:

a) National investment information system is a collection of hardware, software and database which is made with the aim of creating, designing, providing, transmitting, collecting, handling, storing and exchanging information related to public investment activities online (hereinafter referred to as “System”);

b) National public investment database is a collection of basic information about public investment programs, projects and plans which is built, updated and maintained for the purposes of administering, exploiting and using public investment data by electronic means;

c) The System shall be built and applied consistently on a nationwide scale to serve the state management of public investment, including consolidating, reporting on, assigning and adjusting medium-term and annual public investment plans; monitoring and assessing public investment programs and projects; managing, storing and publicly disclosing data in accordance with regulations in force.

Article 4. Industries, sectors using public investment capital

Public investment capital is allocated to the public investment objects as prescribed in the Law on public investment and classified into the following industries and sectors:

1. National Defence: Tasks, programs and projects in the industries and sectors serving achievement of such objectives as national defense and cipher objectives, response to natural disaster, and search and rescue of central and local specialized units according to regulations on decentralization of authority; demining operations, development of dual-purpose national defense industry, housing for people’s armed forces which is purchased or invested in by the Ministry of National Defence of Vietnam.

2. Public security, social order and safety: Tasks, programs and projects in the industries and sectors serving achievement of such objectives as public security, social order and safety, fire prevention and control, crime investigations, enforcement of criminal judgments, response to natural disaster, and search and rescue of central and local specialized units according to regulations on decentralization of authority, and housing for people’s armed forces which is purchased or invested in by the Ministry of National Defence of Vietnam.

3. Education, training and vocational education: Tasks, programs and projects on investment in and construction of infrastructure facilities, physical facilities and equipment serving achievement of such objectives as education, training and vocational education in different grades from preschool to higher education, and continuing education; investment in training institutions for officials of Ministries, central and local authorities.

4. Science and technology: Tasks, programs and projects on investment in and construction of infrastructure facilities, physical facilities, equipment and technologies serving achievement of such objectives as scientific and technology development, experiment, analysis, inspection, testing, standards - metrology - quality, intellectual property, atomic energy, nuclear energy and new energy types, radiation and nuclear safety, information and statistics on scientific and technological activities, specialized design in the fields of natural science and engineering, technology application and transfer, semiconductor, and artificial intelligence; centers for innovation, research and development, support for development of industries, hi-tech zones, high-tech agricultural, forestry and aquaculture zones.

5. Healthcare, population and family: Tasks, programs and projects on investment in and construction of infrastructure facilities, physical facilities, and equipment serving achievement of healthcare objectives, including preventive medicine, medical examination and treatment, functional rehabilitation, medical assessment, forensic examination, forensic psychiatric assessment, traditional medicine and pharmacy, and medical devices; cosmetics, food safety, health insurance, population and reproductive health.

6. Culture and information, including tasks, programs and projects serving achievement of objectives in the following sectors:

a) Culture: Protection and preservation of values of tangible and intangible cultural heritage, and ethnic minorities’ culture; development of literature and arts, cinematography, libraries, museums, mass culture, and performance art types; development of cultural institutions, and cultural works;

b) Information: Infrastructure facilities, physical facilities, and equipment serving publishing and press activities of the Communist Party and the State of Vietnam.

7. Radio, television and news broadcasting: Tasks, programs and projects on investment in and construction of infrastructure facilities, physical facilities, and equipment serving radio, television and news broadcasting activities which are aimed at performing political, social and essential public interest tasks.

8. Sports and physical activities: Tasks, programs and projects on investment in and construction of infrastructure facilities, physical facilities, and equipment serving development of sports and physical activities.

9. Environmental protection, including tasks, programs and projects serving achievement of objectives in the following sectors:

a) Environment: Infrastructure facilities, physical facilities, and equipment used for environmental monitoring and warning, environmental pollution control, environment improvement, waste and wastewater treatment, green growth, climate change adaptation and sustainable development;

b) Natural resources: Infrastructure facilities, physical facilities, and equipment used in topography and cartography, remote sensing, meteorology and hydrology, geological exploration, minerals, soil investigation and assessment, soil protection, remediation and restoration, protection of natural resources, biodiversity, sea and islands.

10. Economic activities, including tasks, programs and projects serving achievement of objectives in the following sectors:

a) Agriculture, forestry, salt production, irrigation and aquaculture: Infrastructure facilities, physical facilities, and equipment used in agriculture, forestry, salt production, irrigation and aquaculture; rural economy (including development of new-style rural areas, clean water supply and assurance of rural environmental hygiene, development of agriculture professions and rural trade villages with the participation of family households and cooperatives, population distribution and rearrangement in rural areas, sedentary farming, stabilization of free migration and resettlement); development of plant varieties, domestic animal breeds; forest planting, protection and development; prevention, control and recovery from disaster, forest fire and epidemics, stabilization of land for paddy, assurance of water source security, and food security.

b) Industry: Supply of electricity for rural, mountainous and island areas; physical facilities, equipment and infrastructure facilities serving operation of electrical grids and national electricity market; tasks and projects in the petroleum sector which are executed under the Prime Minister’s decisions, physical facilities and equipment serving money printing and casting operations;

c) Transport: Infrastructure facilities for roadway, railway, inland waterway, maritime, airports and aerodromes;

d) Industrial parks and economic zones: Infrastructure facilities of coastal economic zones, border-gate economic zones, specialized economic zones, free trade zones, and infrastructure facilities for industrial parks and industrial clusters;

dd) Commerce: Traditional markets, wholesale markets, logistics center, trade fair and exhibition centers, and infrastructure facilities for import and export activities;

e) Water supply and drainage;

c) Warehousing: Infrastructure facilities, physical facilities and equipment necessary for operation of warehouses, specialized storage facilities, national reserve storage facilities, document, record and exhibit storage facilities;

h) Tourism: Infrastructure facilities serving sustainable tourism development at tourist attraction sites, zones and locations;

i) Telecommunication: Infrastructure facilities, physical facilities and equipment used in telecommunication activities for the purposes of performing political, social and essential public interest tasks; telecommunication and Internet infrastructure; infrastructure facilities, physical facilities and equipment used for upgrading and developing private telecommunications networks serving operations of the Communist Party and the State of Vietnam; infrastructure facilities of national data centers and cloud computing;

k) Postal services: Infrastructure facilities, physical facilities and equipment used in provision of postal services for the purposes of performing political, social and essential public interest tasks; infrastructure facilities, physical facilities and equipment used for upgrading and developing postal networks serving operations of the Communist Party and the State of Vietnam;

l) Information technology: Infrastructure facilities serving application of information technology and data centers to operations of the Communist Party and the State of Vietnam; infrastructure facilities serving application of information technology and data centers of private telecommunications networks, special-type telegraph networks serving operations of the Communist Party and the State of Vietnam; information systems, database hardware and software; digital platforms, application software, shared services; information safety, cybersecurity; semiconductor; artificial intelligence;

m) Planning: Planning tasks as defined in the Law on Planning;

n) Public works at urban and rural areas; infrastructure facilities of urban areas;

o) Finance, banking;

p) Making contribution to the charter capital of policy banks and state off-budget financial funds; granting subsidies to offset preferential lending interest rates and management fees; entrusting funds through policy banks in accordance with regulations adopted by competent authorities; assisting and developing enterprises that make investments in agriculture and rural sectors; giving support for small- and medium-sized enterprises in accordance with regulations of the Law on Support for Small- and Medium-sized Enterprises (SMEs); giving support for artels, cooperatives and cooperative unions in accordance with regulations of the Law on Cooperatives.

11. Activities of state regulatory authorities, public service units, political organizations and socio-political organizations: Tasks, programs and projects serving construction, upgradation and renovation of working offices, official residences, housing for assigned or transferred officials, procurement of medical devices of agencies of the political system and the State; projects on procurement, construction and renovation of working offices, upgradation and renovation of housing, and purchase of equipment for Vietnam’s missions in foreign countries.

12. Society: Tasks, programs and projects on investment in construction, renovation and upgradation of infrastructure facilities, physical facilities, and purchase of equipment for establishments providing care, nursing and functional rehabilitation services for people with meritorious services to the revolution; employment support; construction, renovation and upgradation of establishments providing care for lonely elderly people and homeless orphans; construction of housing for workers working at industrial parks; provision of care and nursing for workers, prevention and treatment of occupational diseases; support establishments for teenagers, women and farmers; construction, renovation, upgradation and expansion of martyr gratitude structures; drug rehabilitation and other social assistance facilities; housing for employees.

13. Other tasks, programs and projects as prescribed by law: provision of investment support for other policy beneficiaries under the Government’s or the Prime Minister’s decision; tasks, programs and projects considered as public investment objects which are not yet classified into any of the industries and sectors specified in clauses 1 through 12 of this Article.

Article 5. Conditions, criteria and principles for allocation of local government budget-derived trusted funds for implementing preferential credit policies through branches of Vietnam Bank for Social Policies (VBSP) in provinces and central-affiliated cities

1. Principles and conditions for allocation of local government budget-derived trusted funds for implementing preferential credit policies through VBSP’s branches in provinces and central-affiliated cities:

a) Comply with the provisions of Articles 54, 55 and 56 of the Law on public investment;

b) Ensure capability of balancing local-government budget’s capital in medium-term and annual public investment plans; ensure capability of recovering local-government budget’s capital allocated as trusted funds used for implementing preferential credit policies;

c) Formulation, approval and assignment of tasks of medium-term and annual public investment plans using trusted funds through VBSP shall comply with provisions of Articles 59 and 60 of the Law on public investment.

2. Based on the report on proposed medium-term and annual public investment plans of VBSP’s branches in provinces and central-affiliated cities, provincial-level People’s Committees shall request the provincial-level People’s Councils to consider making decision on criteria for allocating local-government budget’s capital in medium-term and annual public investment plans for entrusting VBSP’s branches in provinces and central-affiliated cities to implement preferential credit policies.

Chapter II

FORMULATION, APPRAISAL OF AND DECISION ON INVESTMENT POLICIES FOR PUBLIC INVESTMENT PROGRAMS AND PROJECTS

Article 6. Authority to make decisions on investment policies for programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes

1. Regarding programs and projects of state regulatory authorities and public service units that are put under the control of ministries or central authorities:

a) Ministers and Heads of central authorities shall be accorded authority to make decisions on investment policies for group-A, B and C public investment programs and projects of state regulatory authorities under their jurisdiction; group-A programs and projects of their affiliated public service units that cover recurrent expenditures themselves; group-A and B programs and projects of their other affiliated public service units, except those referred to in point b of this clause;

Ministers and Heads of central authorities may decentralize powers or grant authorization to issue decisions on investment policies for group-B and C projects of state regulatory authorities under their jurisdiction as prescribed in this point to the heads of such state regulatory authorities;

b) Heads of public service units that, according to relevant regulations, cover both recurrent expenditures and investment expenditures themselves shall be accorded authority to make decisions on investment policies for group-A, B and C programs and projects under their jurisdiction;

c) Heads of public service units that cover recurrent expenditures themselves shall be accorded authority to make decisions on investment policies for group-B and C projects under their jurisdiction;

d) Heads of other public service units, except those stipulated in points b and c of this clause, shall be accorded authority to make decisions on investment policies for group-C projects under their jurisdiction.

2. Regarding programs and projects of state regulatory authorities and public service units that are put under the control of local governments:

a) Chairpersons of People’s Committees at any level shall be accorded authority to make decisions on investment policies for group-A, B and C public investment programs and projects of state regulatory authorities under their jurisdiction; group-A programs and projects of their affiliated public service units that cover recurrent expenditures themselves; group-A and B programs and projects of their other affiliated public service units, except those referred to in point b of this clause;

Chairpersons of People’s Committees at any level may decentralize powers or grant authorization to issue decisions on investment policies for group-B and C projects of state regulatory authorities under their jurisdiction as prescribed in this point to the heads of such state regulatory authorities;

b) Heads of public service units that, according to relevant regulations, cover both recurrent expenditures and investment expenditures themselves shall be accorded authority to make decisions on investment policies for group-A, B and C programs and projects under their jurisdiction;

c) Heads of public service units that cover recurrent expenditures themselves shall be accorded authority to make decisions on investment policies for group-B and C projects under their jurisdiction;

d) Heads of other public service units, except those stipulated in points b and c of this clause, shall be accorded authority to make decisions on investment policies for group-C projects under their jurisdiction.

3. In case projects use legitimate revenues retained by state regulatory authorities and public service units for investment purposes, and are to be implemented for 02 consecutive terms of medium-term public investment plans, the authorities that are competent to make decisions on investment policies for projects as prescribed in clauses 1 and 2 of this Article shall be accorded authority to issue decisions on investment policies for such projects which must correspond to capabilities of balancing public investment capital and raising funds from other lawful sources (if any), and shall assume responsibility for their issued decisions.

4. Within 05 working days of receipt of the approval of investment policies for public investment programs or projects, public service units prescribed points b, c and d clause 1 of this Article and points b, c and d clause 2 of this Article shall send decisions on approval of investment policies for public investment programs or projects to relevant supervisory ministries, central authorities and People's Committees at any respective level for reporting purposes.

Article 7. Procedures and processes for making decisions on investment policies for programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes

1. Ministers and Heads of central authorities:

a) Authorize their affiliated units or public service units under their jurisdiction to prepare pre-feasibility study reports or investment policy proposal reports for the public investment programs or projects referred to in point a clause 1 Article 6 hereof;

b) Establish Appraisal Councils or assign competent units to carry out appraisal of pre-feasibility study reports or investment policy proposal reports; appraisal of funding sources and capability of balancing capital derived from legitimate revenues retained by state regulatory authorities and public service units for investment purposes;

c) Direct those units specified in point a of this clause to complete pre-feasibility study reports and investment policy reports; submit them to ministers or heads of central authorities to seek their approval decisions on investment policies for public investment programs or projects.

2. Chairpersons of People’s Committees at any level:

a) Authorize their specialized agencies or affiliated units or public service units under their jurisdiction to prepare pre-feasibility study reports or investment policy proposal reports for the public investment programs or projects referred to in point a clause 2 Article 6 hereof;

b) Establish Appraisal Councils or assign competent units to carry out appraisal of pre-feasibility study reports or investment policy proposal reports; appraisal of funding sources and capability of balancing capital derived from legitimate revenues retained by state regulatory authorities and public service units for investment purposes;

c) Direct those agencies or units specified in point a of this clause to complete pre-feasibility study reports and investment policy reports; submit them to Chairpersons of People’s Committees at any level to seek their approval decisions on investment policies for public investment programs or projects.

3. Heads of public service units prescribed in points b, c and d clause 1 Article 6 and points b, c and d clause 2 Article 6 hereof:

a) Authorize their specialized agencies or affiliated units to prepare pre-feasibility study reports or investment policy proposal reports for their own public investment programs or projects;

b) Establish Appraisal Councils or assign competent units to carry out appraisal of pre-feasibility study reports or investment policy proposal reports; appraisal of funding sources and capability of balancing capital derived from their own legitimate revenues which are retained for investment purposes;

c) Direct those agencies or units specified in point a of this clause to complete pre-feasibility study reports and investment policy reports; submit them to heads of public service units to seek their approval decisions on investment policies for public investment programs or projects.

Article 8. Principles of and authority over grant of decisions on investment policies for group-A, B and C foreign public investment projects

1. Principles of grant of decisions on investment policies for foreign public investment projects shall be subject to clauses 2 and 3 Article 3 of the Law on public investment and other regulations laid down herein.

2. Authority to grant decisions on investment policies for foreign public investment projects shall be subject to Article 18 of the Law on public investment.

Article 9. Procedures and processes for granting decisions on investment policies for group-A, B and C foreign public investment projects

1. Ministers and Heads of central authorities:

a) Authorize their affiliated units, including their affiliated public service units, to prepare pre-feasibility study reports or investment policy proposal reports for projects;

b) Establish Appraisal Councils or assign competent units to carry out appraisal of pre-feasibility study reports or investment policy proposal reports; appraisal of funding sources and capital balancing capacity for projects;

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

2. Chairpersons of People’s Committees at any level:

a) Authorize their specialized agencies or affiliated units to prepare pre-feasibility study reports or investment policy proposal reports for projects;

b) Establish Appraisal Councils or assign competent units to carry out appraisal of pre-feasibility study reports or investment policy proposal reports; appraisal of funding sources and capital balancing capacity for projects;

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

3. Contents of pre-feasibility study reports for group-A projects or investment policy proposal reports for group-B and C projects:

a) Necessity of making investment, requirements for carrying out investment, assessment of relevance to plannings as prescribed in the law of the host country;

b) Investment objectives, scale and location;

c) Total estimated investment; estimated structure of funding sources;

d) Anticipated investment schedule and phasing;

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

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

g) Implementation measures.

4. Subject matters of the appraisal of the investment policies for projects:

a) Necessity of making investment in the project;

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

c) Conformity with plannings as prescribed in the domestic law of the host country;

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

dd) Socio-economic effectiveness.

Article 10. Procedures and processes for making decisions on investment policies for projects funded by local-government budgets and implemented by central authorities, and projects funded by district- or commune-level budgets and implemented by provincial- or district-level authorities

1. Regarding the projects of which Ministries or central authorities act as the governing bodies and which are funded by different-level local budgets, procedures and processes for making decisions on investment policies shall be subject to the following provisions:

a) Such procedures and processes shall be followed according to Article 26 of the Law on public investment;

b) Regarding the amount of local government budget-derived capital invested in the project, the People's Committee shall request the People's Council of the same level to issue a Resolution on allocation of the same-level budget-derived funding as the basis for appraisal of funding sources and capital balancing capability for the project.

2. Regarding the projects of which provincial- or district-level People’s Committees act as the governing bodies and which are funded by inferior budgets, procedures and processes for making decisions on investment policies shall be subject to the following provisions:

a) Such procedures and processes shall be followed according to Articles 25, 28 of the Law on public investment;

b) Regarding the amount of inferior budget-derived capital invested in the project, the relevant People's Committee shall request the People's Council of the same level to issue a Resolution on allocation of the same-level budget-derived funding as the basis for appraisal of funding sources and capital balancing capability for the project.

Article 11. Documentation requirements, contents and time of appraisal of pre-feasibility study reports or investment policy proposal reports for group-A, B or C public investment programs or projects

1. An application for appraisal of a pre-feasibility study report or investment policy proposal report for group-A, B or C public investment program or project includes:

a) An application form submitted to a competent authority to seek their decision on the investment policy for the program or project;

b) The pre-feasibility study report for group-A project; investment policy proposal report for group-B or C program or project;

c) Other relevant documents (if any).

Authorities applying for appraisal shall submit to Appraisal Councils or agencies in charge of appraisal tasks packages of application for appraisal electronically, except those documents or papers containing information classified as state secret as prescribed in the law on protection of state secrets.

2. Subject matters of appraisal of the investment policy for a public investment program include:

a) Conformance to criteria for determination of public investment programs;

b) Conformity of the documents included in the application for appraisal with laws;

c) Relevance to related strategic objectives; socio-economic development plans; plans for development of sectors or industries; related plannings provided in the law on planning;

d) The contents prescribed in Article 33 of the Law on public investment;

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

e) Capital recovery and debt repayment capability, if borrowed funds are used.

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

a) Necessity of making investment in the project;

b) Conformity of the documents included in the application for appraisal with laws;

c) Relevance of the project to the related plans and plannings as provided for in the Law on planning;

d) Conformance to criteria for classification of group-A, B or C public investment projects;

dd) The contents prescribed in Article 34 of the Law on public investment, for a group-A project, or Article 35 of the Law on public investment, for a group-B or C project;

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

4. During the appraisal of pre-feasibility study reports or investment policy proposal reports for public investment programs or projects, agencies in charge of appraisal tasks shall have the burden of consulting with authorities mandated to appraise funding sources and capability of balancing capital for public investment programs and projects as prescribed in Article 36 of the Law on public investment. Authorities mandated to appraise funding sources and capital balancing capability shall assume responsibility to respond to the agencies in charge of appraisal tasks.

Agencies in charge of appraisal tasks that are also the authorities mandated to appraise funding sources and capital balancing capability as prescribed in Article 36 of the Law on public investment shall themselves organize the appraisal of funding sources and capital balancing capability.

5. Time limits for appraisal of pre-feasibility study reports or investment policy proposal reports for group-A, B or C public investment programs or projects after Appraisal Councils or agencies in charge of appraisal tasks receive adequate and valid applications for appraisal shall be as follows:

a) National target programs: Not exceeding 40 working days;

b) Public investment programs (excluding national target programs): Not exceeding 30 working days;

c) Group-A projects: Not exceeding 30 working days;

d) Group-B and C projects: Not exceeding 20 working days;

In case an application is invalid or where any contents of the pre-feasibility study report or investment policy proposal report for a public investment program or project are found unconformable with provisions of Articles 33, 34 and 35 of the Law on public investment, within the maximum duration of 05 working days of receipt of the submitted application, the Appraisal Council or agency in charge of appraisal tasks shall request the authority applying for appraisal in writing to provide additional documents or modify the pre-feasibility study report or investment policy proposal report for that public investment program or project.

6. Appraisal Councils or agencies in charge of appraisal of pre-feasibility study reports for group-A public investment projects or investment policy proposal reports for group-B or C public investment programs or projects shall submit appraisal reports in accordance with the following regulations:

a) With respect to public investment programs, appraisal reports shall be submitted to program owners and authorities competent to make investment policy decisions;

b) With respect to group-A public investment projects under the Prime Minister’s jurisdiction, appraisal reports shall be submitted according to clause 4 Article 24 of the Law on public investment;

c) With respect to group-A public investment projects other than those specified in point b of this clause, group-B and C public investment projects, appraisal reports shall be sent to authorities applying for appraisal, project management bodies and authorities competent to make investment policy decisions.

Article 12. Documents submitted to competent authorities and time limits for grant of decisions on investment policies for group-A, B and C public investment programs or projects

1. An application submitted to a competent authority to seek their decision on investment policy for a group-A, B or C public investment program or project includes:

a) The documents specified in clause 1 Article 11 hereof, of which the contents of the application form and pre-feasibility study report or investment policy proposal report have already been completed according to the appraisal report of the Appraisal Council or agency in charge of appraisal tasks;

b) Report on appraisal of the investment policy for the program or project of the Appraisal Council or agency in charge of appraisal tasks.

2. Time limits for grant of decisions on investment policies for public investment programs or projects after authorities competent to grant such decisions receive adequate and valid applications shall be as follows:

a) Public investment programs (excluding national target programs): Not exceeding 10 working days;

b) Group-A projects: Not exceeding 07 working days;

c) Group-B and C projects: Not exceeding 05 working days;

With respect to any public investment program or project for which People’s Councils at any respective level have authority to make decisions on investment policies, time limits for grant of these decisions shall match the meeting agenda of the relevant People's Council.

3. Within 03 working days after competent authorities issue decisions on investment policies for public investment programs or projects:

a) Ministries, central authorities and local authorities in charge of managing public investment programs or projects funded by the central-government budget must send such decisions to the Ministry of Finance;

b) Authorities in charge of managing public investment programs or projects funded by local budgets at any level shall send such decisions to the provincial Departments of Finance and/or specialized investment management authorities at the same level.

Article 13. Classification of public investment projects

Group-A, B and C public investment projects are classified according to the Appendix I enclosed herewith.

Article 14. Documentation requirements, procedures, processes and contents of adjustment of investment policies for group-A, B and C public investment programs or projects

1. Procedures and processes for adjustment of investment policies shall be followed according to clause 3 Article 37 of the Law on public investment; agencies, units or organizations assigned to formulate and appraise adjusted pre-feasibility study reports or reports on proposal of adjustments for investment policies shall submit these reports to competent authorities to seek their decisions.

2. An application submitted to a competent authority to seek their decision on adjustment of investment policy for a public investment program or project includes:

a) An application form submitted to a competent authority to seek their decision on adjustment of investment policy for a public investment program or project. Such a form must clearly indicate the reasons for adjustment of the investment policy for the public investment program or project; adjustments corresponding to the contents of the pre-feasibility study report or investment policy proposal report, and relevance of such adjustments to the cases of adjustment specified in clause 2 Article 37 of the Law on public investment;

b) Supporting documents, including the decision on investment policy for the program or project; decision on previous adjustment of investment policy for the program or project (if any); adjusted pre-feasibility study report or report on proposal of adjustments for investment policy which includes the adjusted contents of the pre-feasibility study report or investment policy proposal report prescribed in Articles 33, 34, 35 of the Law on public investment;

c) Report on appraisal of adjustments to the investment policy for the program or project of the Appraisal Council or agency or unit in charge of appraisal tasks. Subject matters of appraisal of the adjusted pre-feasibility study report or report on proposal of adjustments for investment policy correspond to those specified in clauses 2 and 3 Article 11 hereof in respect of the adjustments requiring approval;

d) Other relevant documents (if any).

3. Time limits for grant of decisions on adjustment of investment policies for public investment programs or projects after authorities competent to grant such decisions receive adequate and valid applications shall be as follows:

a) Public investment programs (excluding national target programs): Not exceeding 10 working days;

b) Group-A projects: Not exceeding 07 working days;

c) Group-B and C projects: Not exceeding 05 working days.

4. Appraisal Councils or agencies, units in charge of appraising adjustments to investment policies for programs or projects shall carry out appraisal of adjustments requiring approval as specified in adjusted pre-feasibility study reports or reports on proposal of adjustments for investment policies, and assume no responsibility for the contents previously appraised or covered under previously issued decisions.

Article 15. Cases of termination of investment policies for public investment programs or projects, and procedures and processes for such termination

1. In case a decision on investment in a public investment program or project for which a decision on investment policy has been issued is yet to be granted, the competent authority that issued such investment policy decision shall be accorded authority to make decision on termination of the investment policy for such program or project, and assume responsibility for their issued decision.

2. In case a decision on investment in a public investment program or project has been issued, termination of the investment policy for such program or project may be made in the following cases:

a) Continuation of such program or project will lead to serious socio-economic, national defense and security, foreign policy and environmental consequences;

b) Termination of the investment policy for such program or project will create higher financial and/or socio-economic efficiency;

c) The implementation of such program or project cannot be continued due to objective causes which are unforeseeable and cannot be remedied, though all necessary measures and efforts have been taken.

3. Procedures and processes for termination of investment policies for public investment programs or projects in the cases prescribed in clause 2 of this Article:

a) The authority that issued the decision on investment in the program or project shall organize inspection and assessment of the implementation of such program or project in accordance with regulations of the Law on public investment and relevant laws;

b) The authority that issued the decision on investment in the program or project shall submit to the authority that issued the decision on investment policy for such program or project a report on termination of investment policy for such program or project in which the reason for such termination as prescribed in clause 2 of this Article must be clearly indicated;

c) The authority that issued the investment policy decision shall consider making a decision on termination of the investment policy for such program or project. Such decision must include the plans for handling the completed volumes of the program or project in accordance with regulations of law on management and use of public property and relevant laws.

Chapter III

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

Article 16. Authority to make decisions on investment in public investment programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes

1. Regarding programs and projects of state regulatory authorities and public service units that are put under the control of ministries or central authorities:

a) Ministers and Heads of central authorities shall be accorded authority to make decisions on investment in group-A, B and C public investment programs or projects of state regulatory authorities under their jurisdiction; may decentralize powers or grant authorization to make decisions on investment in group-B and C projects prescribed in this point to the heads of their affiliated state regulatory authorities;

b) Heads of public service units shall be accorded authority to issue decisions on investment in group-A, B and C public investment programs or projects under their jurisdiction;

c) Public service units mentioned in point b of this clause shall be allowed to act as owners of public investment projects without construction components under their jurisdiction. Determination of owners of those projects with construction components shall comply with regulations of law on construction.

2. Regarding programs and projects of state regulatory authorities and public service units that are put under the control of local governments:

a) Chairpersons of People’s Committees at any relevant level shall be accorded authority to make decisions on investment in group-A, B and C public investment programs or projects of state regulatory authorities under their jurisdiction, and may decentralize powers or grant authorization to make decisions on investment in group-B and C projects prescribed in this point to the heads of their affiliated state regulatory authorities;

b) Heads of public service units shall be accorded authority to issue decisions on investment in group-A, B and C public investment programs or projects under their jurisdiction;

c) Public service units mentioned in point b of this clause shall be allowed to act as owners of public investment projects without construction components under their jurisdiction. Determination of owners of those projects with construction components shall comply with regulations of law on construction.

Article 17. Procedures and processes for making decisions on investment in programs or projects using legitimate revenues retained by state regulatory authorities and public service units for investment purposes

1. Regarding public investment programs or projects without construction components under the control of ministries or central authorities:

a) Regarding public investment programs or projects under the authority to issue investment decisions of Ministers and Heads of central authorities:

Based on investment policies already decided by competent authorities, Ministers or Heads of central authorities shall authorize program or project owners to organize preparation of feasibility study reports for these programs or projects; establish Appraisal Councils or assign competent units to carry out appraisal of feasibility study reports for these programs or projects;

Based on appraisal opinions, program or project owners shall complete feasibility study reports for these programs or projects and submit them to Ministers or Heads of central authorities to seek their decisions on investment in these programs or projects;

b) Regarding public investment programs or projects under the authority to issue investment decisions of heads of public service units: Heads of public service units shall organize the preparation of feasibility study reports for these programs or projects according to the investment policies decided by competent authorities; conduct appraisal and approval of these programs or projects and bear responsibility for their decisions in accordance with regulations of law in force.

2. Regarding public investment programs or projects without construction components under the control of local governments:

a) Regarding public investment programs or projects under the authority to issue investment decisions of Chairpersons of People’s Committees at any relevant level:

Based on investment policies already decided by competent authorities, Chairpersons of People’s Committees at any relevant level shall authorize program or project owners to organize preparation of feasibility study reports for these programs or projects; establish Appraisal Councils or assign competent units to carry out appraisal of feasibility study reports for these programs or projects;

Based on appraisal opinions, program or project owners shall complete feasibility study reports for these programs or projects and submit them to Chairpersons of People’s Committees at any relevant level to seek their decisions on investment in these programs or projects;

b) Regarding public investment programs or projects under the authority to issue investment decisions of heads of public service units: Heads of public service units shall organize the preparation of feasibility study reports for these programs or projects according to the investment policies decided by competent authorities; conduct appraisal and approval of these programs or projects and bear responsibility for their decisions in accordance with regulations of law in force.

3. Procedures for formulation and appraisal of and decisions on investment in projects with construction components shall comply with regulations of law on construction.

Article 18. Principles of, authority over, and contents of formulation, appraisal and making of decisions on group-A, B and C foreign public investment projects

1. Principles of making of decisions on investment in group-A, B and C foreign public investment projects shall be implemented according to clause 3 Article 3 of the Law on public investment, and the domestic laws of host countries and the Socialist Republic of Vietnam.

2. Authority to make decisions on investment in foreign public investment projects shall be subject to Article 38 of the Law on public investment.

3. Contents of public investment projects with construction components of Vietnam’s overseas representative missions shall be subject to the Government’s regulations on management of investment projects of overseas representative missions of the Socialist Republic of Vietnam and other relevant laws.

4. Contents of public investment projects with construction components of Vietnam’s other agencies in foreign countries shall be subject to the Government’s regulations on management of investment projects of overseas representative missions of the Socialist Republic of Vietnam and other relevant laws.

5. A feasibility study report of a foreign public investment project without construction components shall, inter alia, have the following main contents:

a) Necessity of making investment;

b) Conformity of the project with related plannings as prescribed in the domestic law of the host country;

c) Analysis, determination of objectives, and selection of the appropriate scale of the project;

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

dd) Factors related to security and environment;

e) Site clearance plan (if any);

g) Proposed schedule of implementation of the project; the timeline displaying main milestones of the investment;

h) Determination of total investment, structure of capital sources;

i) Project management activities, including determination of the project owner, analysis and selection of organizational form for project management;

k) Analysis of socio-economic efficiency.

6. Subject matters of appraisal of a foreign public investment project without construction components include:

a) Conformity of the documents included in the application for appraisal with laws;

b) Conformity of the project with the investment policy for the project which has been approved by a competent authority;

c) Necessity of making investment;

d) Conformity of the project with related plannings as prescribed in the domestic law of the host country;

dd) Conformity of the project’s objectives and scale;

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

g) Factors related to security and environment;

h) Site clearance plan (if any);

i) Proposed schedule of implementation of the project; the timeline displaying main milestones of the investment;

k) Determination of total investment;

l) Organizational form for project management;

m) Appropriacy in terms of funding sources and capital balancing capability; correlation between total investment of the project and balancing of capital specified in the medium-term and annual public investment plans; the structure of investment funding sources and capability of balancing public investment funds.

Article 19. Procedures and processes for formulation, appraisal and making of decisions on group-A, B and C foreign public investment projects

1. Regarding projects under the control of ministries or central authorities:

a) Based on investment policies already decided by competent authorities, Ministers or Heads of central authorities shall authorize program or project owners to organize preparation of feasibility study reports for these projects; establish Appraisal Councils or assign competent units to carry out appraisal of feasibility study reports for these projects;

b) Based on appraisal opinions, project owners shall complete feasibility study reports for these projects and submit them to Ministers or Heads of central authorities to seek their decisions on investment in these projects.

2. Regarding projects under the control of local governments:

a) Based on investment policies already decided by competent authorities, Chairpersons of People’s Committees at any relevant level shall authorize project owners to organize preparation of feasibility study reports for these projects; establish Appraisal Councils or assign competent units to carry out appraisal of feasibility study reports for these projects;

b) Based on appraisal opinions, project owners shall complete feasibility study reports for these projects and submit them to Chairpersons of People’s Committees at any relevant level to seek their decisions on investment in these projects.

Article 20. Document requirements for and subject matters of appraisal of public investment programs

1. An application for appraisal of a public investment program includes:

a) An application form for appraisal of the public investment program which indicates the necessity of making investment in the program; main objectives and contents of the feasibility study report for the program; and request for competent authority’s decision on the public investment program;

b) The feasibility study report for the program which is prepared according to clause 1 Article 47 of the Law on public investment;

c) Other relevant documents (if any).

Authorities applying for appraisal shall submit to Appraisal Councils or agencies in charge of appraisal tasks packages of application for appraisal electronically, except those documents or papers containing information classified as state secret as prescribed in the law on protection of state secrets.

2. Subject matters of appraisal of a national target program or public investment program include:

a) Conformity of the documents included in the application for appraisal with laws;

b) Conformity of the program with the investment policy for that program which has been approved by a competent authority;

c) Contents of the feasibility study report for the program which is prepared according to clause 1 Article 47 of the Law on public investment;

d) Appropriacy in terms of funding sources and capital balancing capability which have been appraised by competent authorities; conformity of total investment of the program with medium-term and annual public investment plans; structure of funding sources, including central-government budget, local-government budget and other legitimate funding sources; capital recovery and debt repayment capability, if borrowed funds are used.

3. In the course of appraisal of the public investment program which focuses on those contents prescribed in clause 2 of this Article, the Appraisal Council or agency in charge of appraisal tasks shall perform review and comparison tasks to ensure that they conform to the provisions of the investment policy decision approved by a competent authority.

Article 21. Document requirements for and subject matters of appraisal of public investment projects

1. An application for appraisal of a public investment project without construction components includes:

a) An application form for appraisal of the public investment project which indicates the necessity of making investment in the project; main objectives and contents of the feasibility study report for the project; and request for competent authority’s decision on the public investment project;

b) The feasibility study report for the project which is prepared according to clause 2 Article 47 of the Law on public investment;

c) Any other relevant documents that are necessary for the appraisal of public investment project.

Authorities applying for appraisal shall submit to Appraisal Councils or agencies in charge of appraisal tasks packages of application for appraisal electronically, except those documents or papers containing information classified as state secret as prescribed in the law on protection of state secrets.

2. Subject matters of appraisal of a public investment project without construction components include:

a) Conformity of the documents included in the application for appraisal with laws;

b) Conformity of the project with the investment policy for the project which has been approved by a competent authority;

c) Contents of the feasibility study report for the project which is prepared according to clause 2 Article 47 of the Law on public investment;

d) Correlation between total investment of the project and balancing of capital specified in the medium-term and annual public investment plans; the structure of investment funding sources, capability of balancing public investment funds and raising other funds and resources to implement the project; assessment of costs of operation, maintenance, overhaul and major repairs incurred during the operation of project;

dd) Widespread effects of the project on development of industries, sectors, territories and localities; on creation of additional budget revenues, employment, income and lives of residents; effects on environment and sustainable development.

3. Subject matters of appraisal of a public investment project with construction components shall be subject to the law on construction and include those contents that have not yet been prescribed in the law on construction but are prescribed in clause 3 of this Article and other provisions of relevant laws.

4. In the course of appraisal of a public investment project, the Appraisal Council or agency in charge of appraisal tasks shall perform review and comparison tasks to ensure that the project conforms to the provisions of the investment policy decision approved by a competent authority.

Article 22. Time limits for appraisal of public investment programs and projects

1. Time limits for appraisal of public investment programs or projects without construction components after agencies in charge of appraisal tasks receive adequate and valid applications for appraisal shall be as follows:

a) National target programs: Not exceeding 40 working days;

b) Public investment programs (excluding national target programs): Not exceeding 30 working days;

c) Group-A projects: Not exceeding 30 working days;

d) Group-B and C projects: Not exceeding 20 working days;

In case an application is invalid or where any contents of the feasibility study report for a public investment program or project are found unconformable with provisions of Article 47 of the Law on public investment, within the maximum duration of 03 working days of receipt of the submitted application, the Appraisal Council or agency in charge of appraisal tasks shall request the authority applying for appraisal in writing to provide additional documents or modify the feasibility study report for that program or project.

2. Time limits for appraisal of public investment projects with construction components shall comply with regulations of law on construction.

Article 23. Documents submitted to competent authorities for grant of decisions on investment in programs and projects

1. An application submitted to a competent authority to seek their decision on investment in a public investment program or project includes:

a) An application form for a competent authority’s decision on investment in the program or project, and the feasibility study report which has been already completed according to appraisal opinions;

b) Decision on investment policy for the program or project;

c) Report on appraisal of the feasibility study report;

d) Other relevant documents (if any).

2. An application submitted to a competent authority to seek their decision on investment in a project on compensation, support, resettlement and site clearance which is divided from another project and treated as an independent project as prescribed in the Law on public investment:

a) Regarding a project with construction components, the application shall comply with regulations of law on construction;

b) Regarding a project without construction components, the application shall comply with regulations laid down herein and other relevant laws;

c) Compensation, support, resettlement and site clearance projects and other projects which are divided from projects of national significance, group-A, group-B and group-C projects according to clause 2 Article 6 of the Law on public investment shall be classified according to decisions on investment policies.

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

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

a) A decision on a public investment program contains the following main information: objectives, scope and scale; total investment and structure of resources used for implementation of the program, including the list of projects, capability of balancing public investment capital, raising of other funding sources and resources; capital allocation plan and program implementation progress; associated costs arising from the implementation of the program and operating costs after completion of the program; constituent projects of the program; implementation solutions;

b) A decision on a public investment project without construction components contains the following main information: Project’s name; project owner; organization providing consultancy for formulation of project (if any); investment objectives, scale and implementation progress; project site; technological design (if any); technical regulations; total investment; funding sources and proposed allocation of capital according to implementation progress; organizational form for project management to be applied;

c) Contents of decisions on public investment projects with construction components shall comply with regulations of law on construction.

2. Time limits for grant of decisions on investment in public investment programs or projects after authorities competent to grant such decisions receive adequate and valid applications shall be as follows:

a) Public investment programs: Not exceeding 10 working days;

b) Group-A projects: Not exceeding 07 working days;

c) Group-B and C projects: Not exceeding 05 working days.

3. Within 05 working days after competent authorities issue decisions on investment in public investment programs or projects:

a) Ministries, central authorities and local authorities in charge of managing public investment programs or projects funded by the central-government budget must send such decisions on investment in programs or projects issued by competent authorities to the Ministry of Finance;

b) Authorities in charge of managing public investment programs or projects funded by local budgets at any level shall send such decisions on investment in programs or projects issued by competent authorities to the provincial Departments of Finance and/or specialized investment management authorities at the same level.

Article 25. Contents of and procedures and processes for formulation, appraisal and making of decisions on adjustment of group-A, B and C public investment programs or projects

1. The program or project owner shall:

a) Conduct assessment of the entire process of implementing the public investment program or project till the time of submission of an application for adjustment; submit a report on assessment results to the competent authority that issued the investment decision;

b) Assign a specialized agency to prepare the adjusted feasibility study report for the public investment program or project. The adjusted feasibility study report for the public investment program or project must clearly state the reasons for adjustment to ensure conformance to regulations laid down in Article 46 of the Law on public investment;

c) Organize an internal appraisal of the adjustments to the public investment program or project;

d) Complete the adjusted feasibility study report for the public investment program or project, and submit it to the authority competent to make decision on adjustment of the program or project.

2. Procedures and processes for appraisal and grant of decisions on adjustment of public investment programs:

a) Processes for appraisal and grant of decisions on adjustment of national target programs shall be subject to provisions laid down in Article 40 of the Law on public investment;

b) Processes for appraisal and grant of decisions on adjustment of public investment programs for which decisions on investment policies have been issued by the Government shall be subject to provisions laid down in Article 41 of the Law on public investment;

c) Processes for appraisal and grant of decisions on adjustment of public investment programs for which decisions on investment policies have been issued by People’s Councils shall be subject to provisions laid down in Article 42 of the Law on public investment.

3. Procedures and processes for appraisal and grant of decisions on adjustment of public investment projects:

a) Processes and procedures for appraisal and grant of decisions on adjustment of projects without construction components shall be subject to provisions laid down in clause 2 Article 43 of the Law on public investment;

b) Procedures and processes for appraisal and grant of decisions on adjustment of projects with construction components shall be subject to provisions of the law on construction and other relevant laws.

4. An application submitted to a competent authority to seek their decision on adjustment of a public investment program or project includes:

a) An application form submitted to a competent authority to seek their decision on adjustment of the program or project which must clarify objectives and reasons of adjustment according to provisions of clauses 1, 2 Article 46 of the Law on public investment;

b) The adjusted feasibility study report for the program or project which includes the adjusted contents of a feasibility study report as prescribed in Article 47 of the Law on public investment;

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

d) Decision on investment in the program or project; decision on previous adjustment of investment in the program or project (if any);

dd) Report on internal appraisal of adjustments to the program or project and other appraisal reports as prescribed by law (if any);

e) Reports on appraisal, inspection and assessment of the implementation of the program or project as prescribed in clause 4 Article 46 of the Law on public investment;

g) Other relevant documents (if any).

5. Subject matters of appraisal of adjustment of programs or projects:

a) Subject matters of appraisal of the adjusted feasibility study report for a program correspond to those specified in clause 2 Article 20 hereof in respect of the adjustments requiring approval;

b) Subject matters of appraisal of the adjusted feasibility study report for a public investment project without construction components correspond to those specified in clause 2 Article 21 hereof in respect of the adjustments requiring approval;

c) Subject matters of appraisal of the adjusted feasibility study report for a public with construction components shall be subject to the Law on Construction and other relevant laws.

Chapter IV

MANAGEMENT OF PERFORMANCE OF INVESTMENT PREPARATORY TASKS, PLANNING TASKS AND PUBLIC INVESTMENT PROJECTS WITHOUT CONSTRUCTION COMPONENTS

Article 26. Organizing management of performance of investment preparatory tasks, planning tasks and public investment projects without construction components

1. Heads of agencies assigned by competent authorities to formulate the national comprehensive planning, national marine spatial planning, national land use planning, regional planning, and heads of agencies assigned to formulate the national industry planning or provincial planning, shall decide organizational forms for management of performance of planning tasks according to management requirements and specific conditions of these tasks, including: Management boards, hiring of consulting service providers for management, or units assigned to directly take charge of management.

2. Costs of management of performance of planning tasks shall be subject to regulations on costs of management of projects under the law on construction.

3. Ministers, Heads of central authorities and Chairpersons of People’s Committees at any relevant level shall decide organizational forms for management of performance of investment preparatory tasks according to management requirements, specific conditions of the task, and relevant specialized laws, including: Management boards, hiring of consulting service providers for management, or units assigned to directly take charge of management.

4. Persons having competence in making decisions on investment in projects without construction components prescribed in the Law on public investment shall decide organizational forms for management of the implementation of public investment projects according to management requirements and specific conditions of the project and relevant specialized laws, including: Project management boards, hiring of project management service providers, and project owners directly taking charge of management.

5. Regarding emergency projects without construction components:

a) Authorities having competence in making decisions on investment in these projects shall decide organizational forms for management thereof; conduct the supervision of implementation thereof, acceptance testing, commissioning and transfer of completed ones in accordance with regulations of the law on public investment and other relevant laws;

b) Authorities having competence in making decisions on investment in these projects may authorize project owners to decide and bear responsibility for organizational forms for management of implementation thereof from the stage of formulation of these projects to the stage of completion and operation thereof, and shall be held liable for such authorization.

Article 27. Project design

1. Authorities having competence in making investment decisions shall decide the project design plans that ensure efficiency in management of implementation of projects. To be specific:

a) One-step design is a detailed design composed of documents represented by interpretations, diagrams and descriptions of design elements and other technical requirements that need to be met;

b) Two-step design includes fundamental designs and detailed designs. Fundamental design is composed of documents represented by interpretations and diagrams preliminarily showing technical infrastructure designs and other information that assure description of the design plan. The following-step design must be corresponding to main data and information shown in the previous-step design.

2. Contents of project design plans prescribed in clause 1 of this Article shall be subject to regulations of specialized laws.

Article 28. Items and determination of total investment of public investment projects

1. Preliminarily estimated total investment of a project is an estimated amount of investment costs of the project that are determined according to the contents of the pre-feasibility study report for a group-A project or investment policy proposal report for a group-B or C project.

Preliminarily estimated total investment of a project shall be calculated on the basis of the scale, capacity or serving capacity and rate on investment (if any) of the project, or data on costs of completed or in-progress projects of same type, scale and characteristics, together with any modification of other necessary costs.

2. Total investment is all costs of investment in a project which is specifically determined to ensure their conformity to the one-step or two-step design prescribed in clause 1 Article 27 hereof, and to other contents of the feasibility study report of the project.

3. Cost items aggregated into total investment:

a) Costs of investment preparatory tasks;

b) Costs incurred from purchase of property, houses and land;

c) Costs of input materials, accessories and machinery details used for implementation of the project;

d) Equipment costs, including costs incurred from purchase of equipment and technological equipment, technology transfer and training costs (if any), installation, testing, calibration and associated costs;

dd) Costs of salaries and wages paid to staff and workers for implementation of the project;

e) Transportation and insurance costs, taxes, fees and other associated costs;

g) Consultancy costs, including costs of consultancy on surveys and preparation of pre-feasibility study report, investment policy proposal report, feasibility study report, costs of design, consultancy on project supervision and other related consultancy costs (if any);

h) Contingency costs, including provisions for additional workload and price escalation factors during the implementation of project;

i) Management costs and other cost elements.

4. Regulatory authorities in charge of performing state management of sectors and industries shall specify standards, norms, details and methods of determination of costs which serve as a basis to determine total investment in projects in the sectors or industries under their remit.

5. Methods for determination of some specific costs constituting total investment of a project:

a) Costs of purchase of property, houses and land shall be determined on the basis of scale, capacity or serving capacity according to the fundamental design, and aligned with the time of determination of total investment and project site;

b) Costs of input materials, accessories and machinery details (if any) used for implementation of the project shall be calculated according to quantity and quality requirements and at market prices;

c) Equipment costs shall be determined on the basis of the quantity, types of equipment, or equipment systems according to the selected technological, engineering and equipment plan, market prices and other associated costs;

d) Costs of salaries and wages shall be determined on the basis of norms and standards for paying salaries and wages to workers as prescribed in law;

dd) Transportation and insurance costs, taxes, fees and other associated costs shall be determined according to laws and at the prices of transportation fares;

e) Consultancy costs shall be determined on the basis of consultancy services for similar projects which have already been rendered, or determined by estimating specific consultancy costs according to norms (if any) or at market prices;

g) Contingency costs, including provisions for additional workload and price escalation factors during the implementation of project shall be determined according to the percent (%) ratio of these costs to total investment and specific cost elements prescribed in clause 3 of this Article;

h) Management costs and other cost elements shall be determined according to regulations of law and characteristics and organizational form of the project.

Article 29. Components and determination of project cost estimates

1. A project cost estimate indicates all costs necessary for implementation of the project which are determined at the stage of implementation of the project according to the feasibility study report of the project and approved project design; other requirements of work items to be done.

2. Components of a project cost estimate are all cost items specified in clause 3 Article 28 hereof.

3. Project cost estimate shall be made on the basis of calculation of the costs prescribed in clause 3 Article 28 hereof at the time of formulation of such estimate and according to regulations on standards, norms and methods adopted by competent authorities.

Article 30. Authority to appraise and approve project designs and cost estimates

1. For projects under the control of ministries or central authorities, competent units assigned these tasks by ministries or central authorities shall preside over the appraisal of project designs and investment cost estimates, and submitting them to competent authorities that issued decisions on investment in projects to seek their approval, in respect of projects designed according to the one-step process. Project owners shall approve detailed designs and cost estimates in case of carrying out the two-step design process. The detailed design and the cost estimate of the project shall be approved concurrently without separating the detailed design from cost estimate.

2. For projects under the control of provincial-level People’s Committees, competent units assigned these tasks shall preside over or cooperate with specialized departments in carrying out the appraisal of project designs and investment cost estimates, and submitting them to Chairpersons of provincial-level People’s Committees or agencies authorized or mandated to make investment decisions to seek their approval of projects designed according to the one-step process. Project owners shall approve detailed designs and cost estimates in case of carrying out the two-step design process. The detailed design and the cost estimate of the project shall be approved concurrently without separating the detailed design from cost estimate.

3. For projects under the control of district or commune-level People’s Committees and those projects obtaining investment decisions made with authorization by provincial-level People’s Committees, competent units assigned these tasks by district or commune-level People’s Committees shall preside over the appraisal of project designs and investment cost estimates, and submitting them to Chairpersons of People’s Committees at the same level to seek their approval of projects designed according to the one-step process. Project owners shall approve detailed designs and cost estimates in case of carrying out the two-step design process. The detailed design and the cost estimate of the project shall be approved concurrently without separating the detailed design from cost estimate.

Article 31. Processes, procedures and time limits for appraisal of project designs and cost estimates

1. Project owners shall send project design and cost estimate documents, and authorize competent units assigned these tasks to carry out the appraisal according to the subject matters specified in Article 32 hereof.

2. Competent units assigned to perform appraisal tasks shall preside over and cooperate with related agencies in carrying out the appraisal of elements of project designs and cost estimates as prescribed in Articles 27 and 29 hereof. During the appraisal, agencies in charge of appraisal tasks may hire qualified entities and/or persons to take part in the appraisal of specific parts of project designs and cost estimates serving their appraisal purposes.

3. Time limits for appraisal of project designs and cost estimates by competent units assigned to perform appraisal tasks from the date of receipt of adequate and valid required documents shall be as follows:

a) Group-A projects: Not exceeding 25 working days;

b) Group-B projects: Not exceeding 20 working days;

c) Group-C projects: Not exceeding 10 working days.

Article 32. Subject matters of appraisal and approval of project designs and cost estimates

1. Subject matters of appraisal of project designs and cost estimates shall include those specified in Articles 27 and 29 hereof and others prescribed in clause 2 of this Article.

2. Information shown in the approval of project designs and cost estimates includes:

a) General information about the project: Project’s name and items (specifying the project’s group); project owner, design contractor; project site (if any);

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

c) Main applicable national technical regulations and standards;

d) Main design solutions for specific project items and the entire project;

dd) Investment cost estimate;

e) Requirements concerning completion of design dossier and other relevant matters (if any).

3. Time limits for approval of project designs and cost estimates: competent authorities shall consider approving project designs and cost estimates from the date of receipt of adequate and valid documents as follows:

a) Group-A projects: Not exceeding 10 working days;

b) Group-B projects: Not exceeding 07 working days;

c) Group-C projects: Not exceeding 03 working days.

Article 33. Application for appraisal of project design and cost estimate

1. An application form for appraisal of the project design.

2. Explanatory notes to the project design, design drawings (if any) and relevant survey documents.

3. Copies of the decision on investment policy for the project (except those projects which do not require investment policy decisions as provided for in clause 6 Article 19 of the Law on public investment) and the decision on investment in the project, accompanied with the approved design dossier.

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

5. The project’s investment cost estimate.

Article 34. Acceptance testing of projects before operation

1. A project may be brought into operation when it has been completed in conformity with the approved design, and operated according to technical requirements as well as has satisfied quality requirements after an acceptance testing is finished.

2. Depending on specific conditions of each project, each completed project item or constituent project or the entire completed project may be transferred for commercial operation.

3. Records of acceptance testing and transfer of completed project items, constituent projects or the entire project shall serve as the basis for the project owner’s bringing them into operation and final settlement of investment capital as prescribed.

4. Final settlement of a completed project must be duly carried out in accordance with regulations in force.

5. Project transfer dossier includes documents on the completed project, operational manuals, and regulations on project maintenance.

6. Documents on investment in the project must be retained in accordance with regulations of law on state archives.

Article 35. Termination of investment in public investment projects

1. Investment in a public investment project shall be terminated when the project owner has taken transfer of the entire project, and upon expiration of the project warranty term.

2. Before transfer of a public investment project, the contractor must move all of their property (if any) out of the project site.

Article 36. Project operation

1. After receipt of transfer of the project, the project owner or the organization assigned to manage the project shall be responsible for operating and exploiting it to ensure its performance and efficiency according to the approved socio-engineering purposes and indicators.

2. The project owner or organization assigned to manage the project shall be responsible for carrying out maintenance, repair and overhaul of the project in accordance with regulations in force.

Chapter V

INVESTMENT PROCEDURES AND PROCESSES APPLICABLE TO GRANT OF SUBSIDIES TO OFFSET PREFERENTIAL LENDING INTEREST RATES AND MANAGEMENT FEES; MAKING OF CONTRIBUTION TO CHARTER CAPITAL OF POLICY BANKS AND STATE OFF-BUDGET FINANCIAL FUNDS; PROVISION OF INVESTMENT SUPPORT FOR OTHER POLICY BENEFICIARIES UNDER DECISIONS OF THE GOVERNMENT OR THE PRIME MINISTER

Article 37. Procedures and processes for carrying out medium-term public investment plans to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks

1. Contents of a medium-term public investment plan to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks:

a) Assessment of situations and results of implementation of previous period’s plans for investment of credit funds and policy credit funds of policy banks;

b) Socio-economic development objectives; development orientation, policy credit program assigned by the state, development strategies of policy banks in the medium term, and expected preferential credit plans in the next period;

c) Capabilities of mobilizing capital and balancing funding sources for the purposes of realizing investment or policy credit in the medium term;

d) Total capital specified in state budget-funded medium-term public investment plan, including charter capital and capital used for granting subsidies to offset preferential lending interest rates and management fees of policy banks in the previous period;

dd) Principles and criteria for allocation of total capital of medium-term public investment plan used for making contributions to charter capital and granting subsidies to offset preferential lending interest rates and management fees;

e) Tasks of carrying out investment or policy credit facilities assigned by the state in the medium term to ensure relevance to capabilities of balancing public investment capital and mobilizing other legitimate funds to fulfill planned objectives and tasks;

g) Measures for administration, arrangements for implementation and expected outcomes.

2. Policy banks shall prepare consolidated reports on proposed medium-term public investment plan to make contribution to charter capital and grant subsidies to offset preferential lending interest rates and management fees. The report must have those contents specified in clause 1 of this Article and must be then submitted to the Ministry of Finance of Vietnam.

3. Processes for formulation, approval and assignment of tasks of medium-term public investment plan to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks shall be subject to regulations laid down in Article 59 of the Law on public investment.

Article 38. Procedures and processes for carrying out annual public investment plans to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks

1. Contents of an annual public investment plan to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks:

a) Assessment of situations and results of the implementation of the previous year's plans for investment of credit funds and policy credit funds of policy banks;

b) The implementation of the previous year's public investment plan of policy banks;

c) The medium-term public investment plan to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks;

d) Development orientations and strategies of policy banks in the planning year;

dd) Proposed preferential credit capital plan;

e) Tasks to be performed in the planning year which are relevant to capabilities of balancing public investment capital and mobilizing other legitimate funds;

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

h) Measures for administration, arrangements for implementation and expected outcomes.

2. Policy banks shall prepare consolidated reports on proposed annual public investment plan to make contribution to charter capital and grant subsidies to offset preferential lending interest rates and management fees. The report must have those contents specified in clause 1 of this Article and must be then submitted to the Ministry of Finance of Vietnam.

3. Processes for formulation, approval and assignment of tasks of annual public investment plan to make contributions to charter capital and grant subsidies to offset preferential lending interest rates and management fees of policy banks shall be subject to regulations laid down in Article 60 of the Law on public investment.

Article 39. Granting subsidies to offset interest rates of commercial banks

1. The State Bank of Vietnam (SBV) shall be responsible for consolidating demands for capital used for offsetting interest rates of commercial banks carrying out policies approved by competent authorities according to medium-term and annual public investment plans, preparing a consolidated report for submission to the Ministry of Finance for further consolidation and submission to competent authorities.

2. Processes for formulation and approval of medium-term and annual public investment plans for granting subsidies to offset interest rates of commercial banks according to SBV’s report shall be subject to regulations laid down in Articles 59 and 60 of the Law on public investment.

Article 40. Procedures and processes for carrying out medium-term public investment plans to make contributions to charter capital of state off-budget financial funds

1. Contents of the report on medium-term public investment plan to make contributions to charter capital of state off-budget financial funds:

a) Assessment of situations and results of management and use of charter capital of state off-budget financial funds in the previous period;

b) Development orientations, objectives and tasks of strategies and plans for socio-economic development and development of related industries and sectors;

c) Scale of charter capital of funds, assessment of necessity of capital contribution to charter capital of state off-budget financial funds;

d) Estimated total capital and structure of resources, mobilization of other lawful capital sources used for making contributions to charter capital of state off-budget financial funds;

dd) Preliminary analysis and evaluation of impacts and effects on sectors or industries upon receipt of contribution to charter capital, and measurement of socio-economic efficiency;

e) Measures for implementation and expected outcomes.

2. Processes for preparation of the report on medium-term public investment plan to make contributions to charter capital of state off-budget financial funds:

a) Based on the Prime Minister’s directives as prescribed in Article 59 of the Law on public investment, state off-budget financial funds shall prepare medium-term public investment plans to make contributions to charter capital and report to specialized public investment agencies affiliated to ministries, central and local authorities assigned as governing bodies of state off-budget financial funds for consideration;

b) Specialized public investment agencies affiliated to ministries, central or local authorities shall be responsible for completing reports on medium-term public investment plans to make capital contributions to charter capital of state off-budget financial funds under their direct authority. These reports must have the contents specified in clause 1 of this Article, must be integrated into medium-term public investment plans of ministries, central or local authorities which are then submitted to the Ministry of Finance.

3. Processes for formulation of medium-term public investment plans to make contributions to charter capital of state off-budget financial funds shall be subject to Article 59 of the Law on public investment.

Article 41. Procedures and processes for carrying out annual public investment plans to make contributions to charter capital of state off-budget financial funds

1. Contents of the report on annual public investment plan to make contributions to charter capital of state off-budget financial funds:

a) Assessment of situations and results of management and use of charter capital in the year preceding the planning year by state off-budget financial funds;

b) Planning year's development orientations towards capital contribution to charter capital, and demands for charter capital of state off-budget financial funds;

c) Estimated total capital and structure of resources, mobilization of other lawful capital sources used for making contributions to charter capital of state off-budget financial funds;

d) Preliminary analysis and evaluation of impacts and effects on sectors or industries upon receipt of contribution to charter capital, and measurement of socio-economic efficiency of investment;

dd) Measures for administration, arrangements for implementation and expected outcomes.

2. Processes for preparation of the report on annual public investment plan to make contributions to charter capital of state off-budget financial funds:

a) Based on the medium-term public investment plan approved by a competent authority and the Prime Minister’s regulations, as prescribed in Article 60 of the Law on public investment, state off-budget financial funds shall prepare annual public investment plans to make contributions to charter capital and report to specialized public investment agencies affiliated to ministries, central and local authorities assigned as governing bodies of state off-budget financial funds for consideration;

b) Specialized public investment agencies affiliated to ministries, central or local authorities shall be responsible for completing reports on annual public investment plans to make capital contributions to charter capital of state off-budget financial funds under their direct authority. These reports must have the contents specified in clause 1 of this Article, and be integrated into annual public investment plans of ministries, central or local authorities which are then submitted to the Ministry of Finance.

3. Processes for formulation of annual public investment plans to make contributions to charter capital of state off-budget financial funds shall be subject to Article 60 of the Law on public investment.

Article 42. Provision of other investment support for policy beneficiaries under the Government’s or the Prime Minister’s decisions

1. Based on tasks assigned by competent authorities, ministries, central or local authorities shall take charge of formulating, appraising and submitting to the Government or the Prime Minister to seek their decisions on provision of investment support for other policy beneficiaries, including mechanisms for giving public investment capital-derived support to other policy beneficiaries.

2. Processes for formulation and appraisal of medium-term and annual public investment plans to provide investment support for policy beneficiaries under the Government’s or the Prime Minister's decisions:

a) Based on the Prime Minister’s directives and regulations, as prescribed in Articles 59, 60 of the Law on public investment, authorities in charge of implementing policies shall prepare medium-term and annual public investment plans to provide investment support for policy beneficiaries under the Government’s or the Prime Minister’s decisions, and submit them to competent authorities for consideration, and also submit them to the Ministry of Finance;

b) Processes for formulation of medium-term and annual public investment plans to provide investment support for policy beneficiaries under the Government’s or the Prime Minister's decisions shall be subject to regulations laid down in Articles 59, 60 of the Law on public investment.

Chapter VI

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

Article 43. Processes for formulation, approval and assignment of tasks of medium-term public investment plans using state budget's capital

1. Prior to June 15 of the fourth year of a medium-term public investment plan, the Ministry of Finance of Vietnam shall submit a statement requesting the Prime Minister to promulgate a directive for formulation of the medium-term public investment plan for the subsequent period.

2. Prior to July 01 of the fourth year of a medium-term public investment plan, the Ministry of Finance of Vietnam shall submit a report requesting the Government to submit principles, criteria and norms for allocation of estimated medium-term public investment capital in the subsequent period to the Standing Committee of National Assembly for approval.

3. Based on regulations adopted by the Standing Committee of National Assembly and the Prime Minister, ministries and central authorities shall:

a) Assign specialized public investment agencies to instruct their affiliated agencies and units to determine tasks of the medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects;

b) Prepare consolidated reports on tasks of the medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and send them to the Ministry of Finance by the deadline prescribed by the Prime Minister.

4. Based on regulations adopted by the Standing Committee of National Assembly and the Prime Minister, provincial-level People’s Committees shall:

a) Instruct local authorities and units to determine tasks of the medium-term public investment plan in the subsequent period;

b) Assign provincial-level specialized public investment agencies to prepare consolidated reports on tasks of the provincial-level medium-term public investment plans in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and submit them to provincial-level People’s Committees for further submission to provincial-level People’s Councils to seek their opinions;

c) Prepare consolidated reports on tasks of the provincial-, district- and commune-level medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and send them to the Ministry of Finance by the deadline prescribed by the Prime Minister.

5. Prior to December 15 of the fourth year of a medium-term public investment plan, the Ministry of Finance shall request the Government to determine the estimated state budget's funding for development investment expenditures in the subsequent period to specific Ministries, central and local authorities, and request the Prime Minister to inform Ministries, central and local authorities of total public investment capital in the subsequent period.

6. Based on the estimated state budget’s funding for public investment activities in the subsequent period approved by the Government, Ministries and central authorities shall:

a) Notify the estimated state budget's funding for public investment activities in the subsequent period to each of their affiliated agencies and units as the basis for determining proposed tasks of the medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project and other public investment objectives within their jurisdiction;

b) Assign specialized public investment agencies to prepare consolidated reports on tasks of the medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and on other contents as prescribed in Article 52 of the Law on public investment, and send them to the Ministry of Finance by the deadline prescribed by the Prime Minister and instructed by the Ministry of Finance.

7. Based on the estimated state budget’s funding for public investment activities in the subsequent period approved by the Government, provincial-level People’s Committees shall:

a) Notify the estimated state budget’s funding for public investment activities in the subsequent period to each of their affiliated agencies and units and People’s Committees at all levels as the basis for determine tasks of the medium-term public investment plan in the subsequent period;

b) Assign provincial-level specialized public investment agencies to prepare consolidated reports on tasks of the provincial-level medium-term public investment plans in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and submit them to provincial-level People’s Committees for further submission to provincial-level People’s Councils to seek their opinions by July 31 of the fifth year of the previous period’s medium-term public investment plan;

c) Assign district-level and commune-level People’s Committees to organize determination of tasks of medium-term public investment plans in the subsequent period under their jurisdiction, submit them to same-level People's Councils to seek their opinions prior to July 31 of the fifth year of the previous period’s medium-term public investment plan, and complete and send them to superior People's Committees as prescribed;

d) Prepare consolidated reports on tasks of the provincial-, district- and commune-level medium-term public investment plan in the subsequent period which must be sorted by funding sources, capital used for each program, task or project, and other public investment objects, and on other contents as prescribed in Article 52 of the Law on public investment, and submit them to the Ministry of Finance by August 30 of the fifth year of the previous period's medium-term public investment plan.

8. The Ministry of Finance shall play the leading role and cooperate with relevant agencies in preparing a consolidated report on tasks of the medium-term public investment plan in the subsequent period, and submitting it to the Government for further submission to the National Assembly in the year-end meeting held in the fifth year of the National Assembly's tenure to get its opinions about the contents thereof as prescribed in Article 52 of the Law on public investment.

9. Based on the opinions given by the National Assembly in the year-end meeting held in the fifth year of the National Assembly's tenure, ministries and central authorities shall:

a) Assign their affiliated agencies or units to complete the medium-term public investment plans in the subsequent period which shall include specific tasks sorted by funding sources, and capital used for each program, task or project under their jurisdiction;

b) Assign specialized public investment agencies to prepare consolidated reports on the medium-term public investment plan in the subsequent period which shall include specific tasks sorted by funding sources, capital used for each program, task or project, and other public investment objects, and on other contents as prescribed in Article 52 of the Law on public investment, and send them to the Ministry of Finance by the deadline prescribed by the Prime Minister and instructed by the Ministry of Finance.

10. Based on the opinions given by the National Assembly in the year-end meeting held in the fifth year of the National Assembly's tenure, provincial-level People’s Committee shall:

a) Assign their affiliated agencies or unit to complete and submit medium-term public investment plans in the subsequent period to provincial-level specialized public investment agencies to be included in the consolidated reports on the provincial-level medium-term public investment plans in the subsequent period which shall include specific tasks sorted by funding sources, capital used for each program, task or project, and other public investment objects. Such report shall be submitted to provincial-level People’s Committees for further submission to provincial-level People’s Councils to seek their approval by March 10 of the first year of the medium-term public investment plan;

b) Assign district- and commune-level People’s Committees to complete medium-term public investment plans in the subsequent period of their levels, submit them to same-level People's Councils to seek their approval prior to March 10 of the first year of the medium-term public investment plan in the subsequent period, and also send them to superior People's Committees as prescribed;

c) Prepare consolidated reports on provincial-, district- and commune-level medium-term public investment plan in the subsequent period which shall include specific tasks sorted by funding sources, capital used for each program, task or project, and other public investment objects, and on other contents as prescribed in Article 52 of the Law on public investment, and send them to the Ministry of Finance by the deadline prescribed by the Prime Minister and instructed by the Ministry of Finance.

11. In the first meeting of the new tenure’s National Assembly, the Ministry of Finance of Vietnam shall play the leading role and cooperate with relevant agencies in submitting a statement requesting the Government to request the new tenure’s National Assembly to consider making a decision on the medium-term public investment plan.

Article 44. Processes for formulation, approval and assignment of tasks of annual public investment plans using state budget’s capital

1. Prior to every May 15, the Prime Minister promulgates regulations on formulation of socio-economic development plan and preparation of subsequent-year state budget estimate under which this plan and estimate must describe main objectives and orientations and assignment of tasks to take control of formulating the subsequent-year public investment plan.

2. Prior to every June 15, the Ministry of Finance of Vietnam provides Ministries, central and local authorities with instructions about the socio-economic development plan, objectives, requirements, contents, duration and schedule of formulation of the subsequent-year public investment plan.

3. Prior to every June 30, Ministries, central and local authorities provide their subordinate agencies and units to formulate subsequent-year public investment plans.

4. Prior to every July 30, ministries, central authorities and provincial-level People’s Committees shall prepare consolidated reports on tasks of annual public investment plans using state budget’s capital, and submit them to the Ministry of Finance.

5. Prior to every August 10, the Ministry of Finance shall request the Government to estimate capacity of state budget revenues and expenditures, and the state budget’s funding for development investment expenditures for in the subsequent-year plan.

6. In the year-end meeting of People’s Councils, People’s Committees at all levels shall submit the subsequent-year public investment plans, including list of projects which must clearly indicate capital allocated to each project, to the same-level People’s Councils.

7. Ministries, central authorities, and provincial-level People’s Committees shall prepare consolidated reports on annual public investment plans, including the list of programs, tasks, projects and other public investment objects which must clearly indicate capital allocated to each of such programs, tasks, projects and other public investment objects, and submit them to the Ministry of Finance by September 01 each year.

8. Prior to every September 20, the Ministry of Finance shall prepare a consolidated report on the national subsequent-year public investment plan for submission to the Government.

Article 45. Formulation of medium-term plans for investment of legitimate revenues of state regulatory authorities and public service units retained for investment purposes

1. Based on the Prime Minister’s directives as prescribed in Article 59 of the Law on public investment, ministries, central authorities and provincial-level People’s Committees shall instruct state regulatory authorities and public service units using legitimate revenues retained for investment purposes to formulate and submit medium-term investment plans to their supervisory ministries, central authorities or People’s Committees that shall then prepare and submit consolidated reports on these plans to the Ministry of Finance for further submission to the Government or National Assembly.

2. State regulatory authorities and public service units shall organize formulation of medium-term plans for investment of legitimate revenues retained by state regulatory authorities and public service units for investment purposes. Such a plan includes the following contents:

a) Assessment of situations and results of implementation of previous period’s medium-term investment plan;

b) Investment structure objectives and orientations in the medium-term investment plan in the subsequent period;

c) Capabilities of mobilizing and balancing legitimate revenues retained by state regulatory authorities and public service units for investment purposes; estimated total investment capital necessary for fulfillment of objectives and tasks, including capital necessary for fulfillment of investment preparatory tasks, project implementation, reimbursement of prepaid payments, repayment of borrowed funds that come due;

d) Total investment capital specified in medium-term investment plans of state regulatory authorities and public service units under their jurisdiction. This section must clarify amounts of capital of central authorities and public service units;

dd) Principles and criteria for allocation of capital of the medium-term public investment plan;

e) List of investment projects arranged in priority order decided according to capital balancing capability and project implementation progress;

g) Expected results.

Article 46. Formulation, appraisal, approval and assignment of tasks of annual investment plans using legitimate revenues retained by state regulatory authorities and public service units for investment purposes

1. Based on the regulations adopted by the Prime Minister as prescribed in Article 60 of the Law on public investment, ministries, central authorities and provincial-level People’s Committees shall instruct state regulatory authorities and public service units using legitimate revenues retained for investment purposes to formulate and submit annual investment plans to their supervisory ministries, central authorities or People’s Committees to seek their consideration and decision. Contents of a report on annual investment plans using legitimate revenues retained for investment purposes shall be subject to regulations laid down in Article 53 of the Law on public investment;

Ministries, central authorities and provincial-level People’s Committees shall be responsible for making consolidated reports on annual investment plans using legitimate revenues retained by state regulatory authorities and public service units for investment purposes, and submitting them to the Ministry of Finance of Vietnam prior to July 31 of the year preceding the planning year for preparing and submitting consolidated reports thereon to the Government and National Assembly.

2. Ministers, heads of central authorities and Chairpersons of People’s Committees at any relevant level shall establish Appraisal Councils or assign specialized public investment agencies to carry out appraisal of reports on annual investment plans of state regulatory authorities and public service units.

3. Based on appraisal opinions prescribed in clause 2 of this Article, state regulatory authorities and public service units shall complete reports on annual investment plans; submit them to ministries, central authorities and People’s Committees at any relevant level to seek their consideration and decision.

4. Ministers, heads of central authorities and Chairpersons of People’s Committees at any relevant level shall make their decisions to approve or assign tasks of annual investment plans using legitimate revenues retained by state regulatory authorities and public service units for investment purposes, including total investment capital and list of investment projects; make their decisions to adjust annual investment plans whenever needed in order to ensure their relevance to actual capabilities in accordance with regulations of the law on public investment and other relevant laws.

5. Ministries, central authorities and provincial-level People’s Committees shall make consolidated reports on detailed alternatives for assignment of tasks of annual investment plans using legitimate revenues retained by state regulatory authorities and public service units for investment purposes and submit them to the Ministry of Finance within 03 working days from the day on which tasks of annual investment plans are assigned.

Article 47. Time of allocation of capital for project implementation

1. Time of allocation of capital for project implementation and extension thereof shall be subject to regulations laid down in Article 57 of the Law on public investment.

2. If the time of allocation of capital for project implementation has to be extended upon expiry of the extension periods granted as prescribed in points b, c clause 3 Article 57 of the Law on public investment, ministries, central authorities and provincial-level People’s Committees shall be subject to responsibility review and petition the Prime Minister to consider granting decisions on extension of the time of allocation of capital for project implementation, in respect of projects funded by central-government budget, while People’s Committees shall be subject to responsibility review and petition People's Councils at the same level to consider granting decisions on extension of the time of allocation of capital for implementation of projects funded by local-government budget, provided that the following requirements are met:

a) Explanation about the necessity of extension of capital allocation time is provided, ensuring that the project proposed for extension of capital allocation time no longer gets into any difficulty, may be implemented and have its capital completely disbursed within the proposed extended capital allocation period.

b) There are measures for allocating adequate state budget-derived capital included in total investment and plan for state budget-derived capital sorted by central- and local-government budgets.

Article 48. Implementation of public investment plans

1. Ministries, central and local authorities shall be responsible for completing the detailed allocation of the annual planned state budget-derived funding for public investment, and the list of tasks and projects in which special capital amount allocated to each of such tasks and projects must be indicated before December 31 of the year preceding the planning year; submitting reports on such detailed allocation results to the Ministry of Finance before January 10 of the planning year.

2. The Ministry of Finance shall review reports on detailed allocation of planned state budget-derived funding for public investment by ministries, central and local authorities. In case of detecting that total investment capital allocation and details of such allocation by assigned activities and tasks included in plans for investment of the state budget’s capital are not correct; such allocation fails to meet the requirements prescribed in the law on public investment, the Ministry of Finance shall give its written opinions to ministries, central or local authorities within 10 working days after receipt of allocation reports from ministries, central or local authorities, and follow payment control procedures.

3. In case where ministries, central or local authorities do not fully allocate the planned central-government budget-derived funding for investment activities as assigned, the Ministry of Finance shall be responsible for preparing and submitting consolidated reports to competent authorities for their consideration, decision on withdrawal of remaining amounts or transfer thereof to other ministries, central or local authorities in need before June 30 of the planning year.

4. Ministers or heads of central or local authorities shall be responsible for directing and adopting solutions for accelerating the progress in disbursement of the annual budget for public investment, ensuring the full disbursement of assigned capital under regulations of the Law on public investment.

If the annual planned central budget-derived funding for investment activities is not yet fully disbursed, extension of the time for disbursement of planned funding to the following year shall not be allowed; ministries, central and local authorities shall be responsible for allocating adequate planned central budget-derived funding for investment in the following years in order to ensure that tasks and projects shall be completed on schedule, and no outstanding debts will be accrued from capital construction.

Article 49. Submission of review reports on implementation of public investment plans to competent authorities

1. Ministries, central authorities and provincial-level People's Committees shall submit detailed review reports on implementation and cumulative disbursement of allocated capital of medium-term public investment plans, and on implementation and disbursement of capital of annual public investment plans to the Ministry of Finance of Vietnam according to the following provisions:

a) By July 31 of the third year of the medium-term public investment plan, they shall prepare and submit mid-term review reports on implementation and disbursement of allocated capital of the medium-term public investment plan till the end of the second quarter of the third year of the medium-term public investment plan;

b) By July 31 of the fifth year of the medium-term public investment plan, they shall prepare and submit review reports on forecasted implementation and disbursement of allocated capital of the medium-term public investment plan till the end of the final year of medium-term public investment plan (prior to July 31 of the fifth year of the medium-term public investment plan);

c) They shall prepare and submit the following review reports on implementation and disbursement of capital of annual public investment plans:

By the 15^th day of each month, reports on forecasted disbursement of capital in the entire month and results of disbursement in the previous month shall be submitted;

By the 10^th day of the first month of every quarter, reports on results of disbursements in the previous quarter shall be submitted;

By July 10 of the planning year, detailed reports on cumulative disbursements for projects in the first 6 months of the planning year shall be submitted;

By February 28 of the outyear, detailed reports on actually disbursed funds for projects in the planning year and capital amounts for those projects in which implementation and disbursement duration may be extended to the outyear shall be submitted;

Regarding the planned public investment capital for implementation of national target programs, the report shall only clarify total capital, sorted by funding sources, allocated to each program;

d) Reports on adjustment of the annual public investment plan using central government budget inside a specific ministry, central authority or local authority shall be submitted immediately after an adjustment decision is issued;

dd) They shall provide other information necessary for formulation, monitoring and assessment of medium-term and annual public investment plans of the nation, Ministries, central and local authorities;

e) The Ministry of Finance shall issue specific regulations on reporting regimes and samples for review of implementation and disbursement of capital of medium-term and annual public investment plans.

2. The Ministry of Finance shall submit the following periodic reports to the Prime Minister:

a) Monthly, quarterly, yearly, mid-term and entire 5-year periodic reports on review of cumulative disbursement of allocated capital of the state budget-funded medium-term public investment plan, and on review of implementation and disbursement of capital of the state budget-funded annual public investment plan;

b) 6-month, annual, mid-term and entire 5-year periodic detailed reports on disbursement of the planned central-government budget-derived funding for investment projects. Regarding the planned public investment capital for implementation of national target programs, the report shall only clarify total capital, sorted by funding sources, allocated to each program.

3. The Ministry of Finance shall organize disclosure of information about monthly disbursement of the state budget's public investment capital of ministries, central and local authorities via the mass media.

4. Reporting on implementation of medium-term and annual public investment plans by local authorities at all levels shall adhere to the following provisions:

a) Specialized public investment agencies shall request provincial-level People's Committees to promulgate regulations on reporting, provision of information and time limits for reporting on medium-term and annual public investment plans by provincial-level Departments and authorities, and inferior People's Committees in conformity with regulations on monitoring and evaluation of plans, programs and projects using medium-term annual public investment capital in the Law on public investment, the provisions of this Decree, and requirements concerning management and administration of local public investment plans;

b) Provincial-level Departments and authorities, and inferior People's Committees shall submit reports and provide information according to regulations laid down in point a of this clause.

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

1. In consideration of the necessity and requirements concerning the progress in implementation and disbursement of capital for implementation of projects, Ministers, heads of central authorities and Chairpersons of provincial-level People's Committees shall assign specialized public investment agencies to review and propose measures for adjustment of central government budget-funded medium-term and annual public investment plans under their jurisdiction, and submit them to competent authorities to seek their decision in accordance with regulations laid down in Article 71 in the Law on public investment.

2. In consideration of the necessity and requirements concerning the progress in implementation and disbursement of capital for implementation of projects, People's Committees at all levels shall assign specialized public investment agencies to review and propose measures for adjustment of local government budget-funded medium-term and annual public investment plans, and submit them to competent authorities to seek their decision in accordance with regulations laid down in Article 71 in the Law on public investment.

3. Deadline for adjustment of the annual plan for investment of the state budget's capital for implementation of projects inside a specific ministry, central or local authority shall fall prior to November 15 of the planning year.

Article 51. Principles for monitoring and assessment of public investment plans

1. Principles for monitoring of public investment plans:

a) Systematically monitoring and updating information and data related to organization and implementation of public investment plans, including monitoring programs and projects specified in approved public investment plans;

b) Ensuring accurate, complete and truthful reflection of information, data, situations and results of implementation of public investment plans.

2. Principles for assessment of public investment plans:

a) Assessment shall be based on objectives and tasks of public investment plans approved by competent authorities;

b) Assessment of socio-economic efficiency shall be carried out to ensure conformity to the objectives set out in the investment policy decisions and investment decisions on public investment programs or projects;

c) Assessment must ensure objectivity, public disclosure, transparency and improved accountability during the period of assessment of public investment plans;

c) Close cooperation with Vietnamese Fatherland Front Committees at all levels and residential communities must be ensured during the process of assessment of implementation of public investment plans.

Article 52. Monitoring, inspection and assessment of public investment plans

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

a) Monitor and inspect the formulation, appraisal, approval, assignment of tasks and implementation of public investment plans in compliance with Article 73 of the Law on public investment;

b) The Ministry of Finance shall instruct ministries, central and local authorities to monitor and inspect medium-term and annual public investment plans in accordance with laws on public investment;

c) Based on the guidance given by the Ministry of Finance, Ministries and central authorities shall organize monitoring of the implementation of medium-term and annual public investment plans, including details about the implementation and disbursement of capital for implementation of public investment projects specified in medium-term and annual public investment plans within their jurisdiction;

d) Based on the guidance given by the Ministry of Finance, Provincial-level People’s Committees shall organize and provide provincial-level Departments and authorities, and inferior People’s Committees with guidance on monitoring of the implementation of medium-term and annual public investment plans, including details about the implementation and disbursement of capital for implementation of public investment projects specified in local medium-term and annual public investment plans;

dd) The Ministry of Finance shall monitor and prepare a consolidated review report on the disbursement of capital for implementation of state budget-funded investment projects.

2. Assessment of implementation of public investment plans:

a) Ministries, central authorities and provincial-level People’s Committees shall carry out assessment of the implementation of medium-term and annual public investment plans according to regulations laid down in Article 74 of the Law on Public Investment; prepare reports on assessment of implementation, results achieved from such implementation, unsolved issues and restrictions arising from medium-term and annual public investment plans for submission to the Ministry of Finance;

b) The Ministry of Finance shall play the leading role and cooperate with relevant authorities in submitting reports to the Prime Minister on the following matters, including: assessment of implementation of the medium-term public investment plan in the middle term in the third year of the medium-term public investment plan, and in the entire term in the final year of the medium-term public investment plan; assessment of implementation of the annual public investment plan in September each year and before March 31 of the following year;

c) People’s Committees at all levels shall conduct assessment of the implementation of public investment plans according to guidance given by the Ministry of Finance and provincial-level People’s Committees.

Article 53. National database and information system regarding public investment

1. General use regulations:

a) Data and information collected and stored in the national database and information system regarding public investment must be original data, information and materials of or related to public investment programs, projects and plans. In case the hardcopy data and online ones posted on the System are different, the information recorded in the System shall be deemed as a basis to formulate, appraise, assign tasks of, and adjust medium-term and annual public investment plans, make reports on implementation of public investment plans, and monitor and assess public investment programs and projects;

b) Projects shall not have access to disbursements in the absence of the list and data on assignment of tasks of public investment plans on the System;

c) Organizations and individuals using the System shall be responsible for the accuracy of the updated data of each authority on the System;

d) Organizations and individuals using the System must use digital signatures for verifying updated information and data posted on the national public investment database, and uploading reports on the System;

dd) Regulations laid down in this Article shall not be applied to projects subject to the state secret requirement.

2. Regulations on accounts used for logging in the System:

a) Log-in accounts must be managed in a concentrated manner on the System developed by the Ministry of Finance;

b) Organizations and persons participating in or involved in public investment, management and use of public investment capital shall be eligible for signing up for access to the System. The Ministry of Finance shall grant accounts based on registration information, and functions or tasks of persons and organizations joining the System;

c) Ministries, central and local authorities shall be granted accounts to have access to the System to monitor and update information on their public investment programs, projects and plans.

3. Procedures to be followed on the System:

a) Formulate, assign tasks and make adjustment of medium-term public investment plans;

b) Formulate, assign tasks, make adjustment, extend and advance funding for implementation of annual public investment plans;

c) Make review reports on implementation of public investment plans;

d) Monitor and assess public investment programs, tasks and projects;

dd) Manage, store and make public disclosure of data in accordance with regulations in force.

Chapter VII

IMPLEMENTATION PROVISIONS

Article 54. Transition

Regarding programs or projects which have been submitted to competent authorities for appraisal, issuance of investment policy decisions or investment decisions; for appraisal and issuance of decisions on adjustment of investment policies or decisions on adjustment of investment decisions; and for appraisal of designs and cost estimates of projects without construction components before the effective date of this Decree, the time limits for appraisal and issuance of investment policy decisions or investment decisions, appraisal and issuance of decisions on adjustment of investment policies or decisions on adjustment of investment decisions, or appraisal of designs and cost estimates of projects without construction components shall be subject to the regulations laid down in the Government’s Decree No. 40/2020/ND-CP dated April 06, 2020 elaborating the Law on public investment.

Article 55. Effect

1. This Decree comes into force from the day on which it is signed.

2. Formulation, appraisal, approval and management of implementation of projects without construction components shall be subject to regulations laid down in relevant specialized laws. If such regulations of specialized laws on these projects are not available, regulations herein shall apply.

3. Procedures, processes and required documents for formulation, appraisal and making of decisions on investment in, and management of implementation of state budget-funded information technology projects shall comply with regulations of the Government’s Decree No. 73/2019/ND-CP dated September 05, 2019, as amended by the Government’s Decree No. 82/2024/ND-CP dated July 10, 2024.

Article 56. Responsibility for implementation

1. The Ministry of Finance shall provide guidelines on formulation, assignment, adjustment, monitoring and assessment of public investment plans, programs, tasks and projects on the National database and information system regarding public investment.

2. Ministers, heads of ministerial agencies, heads of other central-level authorities, Chairpersons of People’s Committees of provinces and central-affiliated cities, and heads of relevant agencies and units are responsible for implementation of this Decree.

ON BEHALF OF THE GOVERNMENT PP. PRIME MINISTER DEPUTY PRIME MINISTER Ho Duc Phoc