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2. Ministers and Heads of central regulatory authorities shall have the following powers: a) Grant decisions on investment in group-A, group-B and group-C public investment projects using public investment capital under their jurisdiction, except those projects specified in point c of clause 1 of this Article; b) Decentralize powers or grant the authorization to issue decisions on investment in group-B and group-C public investment projects prescribed in point a of this clause to their affiliated agencies.
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https://faolex.fao.org/docs/pdf/vie202112.pdf
3. Chairmen/Chairwomen of provincial-level People’s Committees shall be vested with authority to grant decisions on investment in the following programs and projects: a) Public investment programs which have already obtained investment policy decisions from provincial-level People’s Councils; b) Group-A, group-B and group-C public investment projects put under the management of regulatory authorities at the provincial level, except for those projects stipulated in point c of clause 1 of this Article. 4.
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https://faolex.fao.org/docs/pdf/vie202112.pdf
4. Chairmen/Chairwomen of district-level and commune-level People’s Committees shall be vested with authority to grant decisions on investment in the following programs and projects: a) Public investment programs which have already obtained investment policy decisions from same-level People’s Councils; b) Group-B and group-C public investment projects under their respective jurisdiction, except for those projects stipulated in point c of clause 1 of this Article. 5.
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https://faolex.fao.org/docs/pdf/vie202112.pdf
5. In case of any adjustment in decisions on investment in public investment programs and projects, authority to make decisions on investment in these programs and projects shall be subject to regulations laid down in clause 3 of Article 43 herein. 6.
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6. The Government shall set forth regulations on decentralization of powers, procedures and processes for making decisions on investment in public investment programs or projects using legitimate revenues of state regulatory authorities and public service units for investment purposes provided that these regulations are consistent with those on the financial autonomy of involved entities. 7.
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7. Ministers and Head of central and local regulatory authorities granting decisions on investment in public investment programs and projects shall have the burden of ensuring investment efficiency of approved programs and projects. Article 36. Bases for design, evaluation of and decision on investment in public investment programs or projects 1. Socio-economic strategy and plan. 2. Related planning scheme provided for in law on planning. 3. Necessity of public investment program or project. 4.
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4. Objectives of public investment program and project. 5. Investment policies that have already been decided by competent authorities. 6. Capability of channeling and balancing public investment capital and other funds for implementation of public investment programs and projects. Article 37. Procedures for design, evaluation of and decision on investment in national target programs 1.
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Based on the investment policy already obtaining the National Assembly’s decision, the program owner prepares a feasibility study report for that program for submission to the Prime Minister. 2. The Prime Minister establishes a State Evaluation Council chaired by the Minister of Planning and Investment to evaluate the intended program. 3. The State Evaluation Council conducts the evaluation regarding issues specified in clause 1 of Article 44 and clause 2 of Article 45 herein. 4.
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4. Based on evaluation opinions of the State Evaluation Council, the program owner prepares a complete feasibility study report for that program and drafts an investment decision for submission to the State Evaluation Council before the Council petitions the Prime Minister to consider granting the decision. Article 38. Procedures for design, evaluation of and decision on investment in public investment programs subject to the Government’s investment policy decision 1.
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Based on the investment policy already obtaining the Government’s decision, the program owner prepares a feasibility study report for that program and carries out the evaluation in accordance with law before submission thereof to the Prime Minister. 2. The Ministry of Planning and Investment conducts the evaluation regarding issues specified in clause 1 of Article 44 and clause 2 of Article 45 herein. 3.
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3. Based on evaluation opinions of the Ministry of Planning and Investment, the program owner prepares a complete feasibility study report for that program and drafts an investment decision for submission to the Ministry of Planning and Investment before this Ministry petitions the Prime Minister to consider granting the decision. Article 39.
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Article 39. Procedures for design, evaluation of and decision on investment in public investment programs subject to the investment policy decision granted by the People’s Council 1. Based on the investment policy already obtaining the decision from the People’s Council, the program owner prepares a feasibility study report for that program and carries out the evaluation in accordance with law before submission thereof to the same-level People’s Committee. 2.
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2. The People’s Committee conducts the evaluation regarding issues specified in clause 1 of Article 44 and clause 2 of Article 45 herein. 3. Based on evaluation opinions of the People’s Committee, the program owner prepares a complete feasibility study report for that program and drafts an investment decision for submission to the Chairman/Chairwoman of People’s Committee to seek its decision. Article 40. Procedures for design, evaluation of and decision on investment in public investment projects 1.
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Procedures for design, evaluation of and decision on investment in public investment projects of national significance shall be subject to the following regulations: a) Based on the investment policy already obtaining the decision from the National Assembly, the project owner prepares a complete feasibility study report for that project for submission to the governing body before it petitions the Prime Minister to grant the decision; b) The Ministry of Planning and Investment reports to the Prime Minister to establish the State Evaluation Council to carry out the evaluation of the project; c) The State Evaluation Council conducts the evaluation regarding issues specified in clause 2 and 3 of Article 44 and clause 2 of Article 45 herein; d) Based on evaluation opinions, the project owner prepares a complete feasibility study report for that project for submission to the governing body before it grants approval and sends it to the State Evaluation Council; dd) The State Evaluation Council submits it to the Prime Minister to seek the decision on investment in that project.
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2.
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Procedures for design, evaluation of and decision on investment in public investment projects not falling in the case specified in clause 1 of this Article and existing without construction components shall be subject to the following regulations: a) Based on the investment policy already obtaining the decision from the competent authority, the project owner prepares a feasibility study report for that project and submits it to the competent authority to seek its decision; b) Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level may establish the evaluation council or authorize their affiliates specialized in management of public investment to carry out the evaluation of the intended project; c) The evaluation council or the entity specialized in management of public investment conducts the evaluation regarding issues specified in clause 2 of Article 44 and clause 2 of Article 45 herein; d) Based on evaluation opinions, the project owner prepares a complete feasibility study report for the project for submission to the competent authority to seek its investment decision.
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3. Procedures for design, evaluation of and decision on investment in public investment projects with construction components shall be subject to law on construction and other regulations of relevant laws, except public investment projects of national significance. 4.
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4. Principles of, authority over, contents of, procedures and processes for design and evaluation of and decision on feasibility study reports for projects existing in the public-private partnership form shall be subject to law on investment made in the public-private partnership form, except public investment projects of national significance. 5.
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Procedures for design, evaluation and approval of the budget estimate for investment preparatory tasks and planning tasks shall be regulated as follows: a) Based on investment preparatory tasks and planning tasks obtaining decisions from competent authorities, entities assigned these tasks prepare the budget estimate for these tasks for submission to Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level to seek their decisions; b) Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level may establish the evaluation council or authorize their affiliates specialized in management of public investment to carry out the evaluation of the budget estimate for these tasks; c) The evaluation council or the entity specialized in management of public investment conducts the evaluation regarding inclusions in the budget estimate provided for in law, such as standards and limits of expenditures on performing these tasks; d) Based on evaluation opinions, the project owner prepares a complete budget estimate for these tasks for submission to Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level to seek their approval of that budget estimate.
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6. Principles of, authority over, contents of, procedures and processes for design, evaluation of and decisions on outward investment in public investment projects shall be subject to the Government’s regulations. Article 41. Procedures for design, evaluation of and decision on investment in public investment programs and projects using ODA funds and preferential borrowings from foreign sponsors 1.
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After receiving the investment policy decision, the governing body grants its decision regarding the program or project owner, authorizes the program or project owner to cooperate with the sponsor to prepare the feasibility study report for that program or project for submission to the competent authority to seek its decision on investment in that program or project. 2.
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As for programs and projects under the Prime Minister’s decision-making jurisdiction as provided in point c of clause 1 of Article 35 herein, a) procedures for design, evaluation of and decision on investment in national target programs or public investment projects of national significance shall be subject to provisions laid down in Article 37 and clause 1 of Article 40 herein; b) the Ministry of Planning and Investment conducts the evaluation of the feasibility study report for other program or project, and petitions the Prime Minister to consider granting the decision.
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3. Head of the governing body shall be responsible for conducting the evaluation and granting decisions on investment in these programs and projects under his/her decision-making jurisdiction. 4.
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4. As for public investment programs and projects using ODA funds and preferential borrowings from foreign sponsors that apply the domestic financial mechanism in the onlending form, designing and evaluating public investment programs and projects shall be subject to this Law, and financial plans of these programs and projects and financial capability of program or project owners must be evaluated in accordance with law on management of public debts and other provisions of relevant laws. 5.
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5. Entities presiding over the evaluation must collect opinions from other related entities, and must take procedures and processes and sponsor’s opinions into consideration. Article 42. Procedures and processes for grant of decisions on investment in urgent public investment projects 1.
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Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level decide and take responsibility for implementation of urgent public investment projects under their respective jurisdiction. 2.
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Ministers, Heads of central regulatory authorities and Chairmen/Chairwomen of People’s Committees at any level grant investment decisions according to the following procedures and processes: a) Authorize their specialized affiliates or entities having competence to take charge of conducting project survey and preparing the project recommendation report; b) Authorize entities specialized in management of public investment or entities having competence to carry out the evaluation of the project; c) Direct entities specified in point a of this clause to prepare a complete project recommendation report for submission to the competent authority to seek its decision as provided in Article 35 herein.
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3. Ministers and Heads of central regulatory authorities report to the Government on implementation of an urgent public investment project. Chairman/Chairwoman of People’s Committee reports to the same-level People’s Council on implementation of the urgent public investment project in the upcoming meeting. Article 43. Modification of public investment programs and projects 1.
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Modification of a program shall be made: a) in case of adjusting objectives and changing requirements for implementation thereof in the socio-economic development strategy and plan and other related planning scheme as provided for in law on planning; b) in case of adjusting or ceasing the investment policy under the competent authority's direction; c) due to causes of force majeure resulting in changes in investment objectives, scale, expenses for and duration of implementation of a public investment program.
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2.
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Modification of a project shall be made: b) in case of adjusting or ceasing the investment policy under the competent authority's direction; b) in case of adjustment in the planning scheme resulting in direct impacts on the project; c) due to causes of force majeure resulting in changes in investment objectives, scale, expenses for and duration of implementation of a public investment project; d) under the impact of emergencies arising from natural disasters, conflagration or other force majeure events upon expiry of the project’s insurance policy; dd) if factors creating more financial or socio-economic efficiency arise by reason of such modification and such efficiency is evaluated by the competent authority; e) if the price index quoted during the time of implementation of the project is higher than the price index used for calculation of the allowance for depreciation included in the project’s gross investment that is decided by the competent authority.
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3. The regulatory authority mandated to make its decision on investment in a public investment program or project shall be authorized to issue a decision to modify that program or project, and shall be responsible for its own decision. 4. The regulatory authority may modify a public investment program or project only when that program or project has already undergone the evaluation, inspection or assessment as provided herein. 5.
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5. In case where the modification results in any increase in the gross investment greater than the one already obtaining the investment policy decision from the competent authority, the project must follow procedures and processes for grant of decisions on modification of investment policies before receipt of the decision on modification of the project from the competent authority. 6.
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6. Contents of, procedures and processes for design and evaluation of modification of public investment programs and projects shall be subject to the Government’s regulations. Article 44. Contents of feasibility study reports of public investment programs and projects 1.
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A feasibility study report of a public investment program shall have the following main subject matters: b) Necessity of investment; b) Assessment of the current status of sectors and industries specified in the program's objectives and scope; urgent issues that need to be solved in the program; c) General objectives, specific goals, outcome and main indicators defined in each stage; d) Scope and scale of the program; dd) Constituent projects belonging to the program that need to be implemented to attain the program’s objectives, priority order and schedule of implementation of constituent projects; e) Estimated gross investment necessary to implement the program, distribution of funds specific to objectives, constituent projects and schedule of implementation, funding sources and capital mobilization plans; g) Anticipated duration and schedule of implementation of the program; h) Solutions to implementing the program; regulations and policies applied to the program; capability of integrating and coordinating with other programs; i) International cooperation requirement (if any); k) Arrangements made to implement the program; l) Assessment of the overall socio-economic efficiency of the program.
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2.
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Feasibility study report of the project without construction components shall contain the following main subject matters: b) Necessity of investment; b) Assessment of relevance of the project to the related planning scheme provided for in law on planning; c) Analysis and determination of objectives, tasks and output of the project; analysis and selection of the appropriate scale; investment phasing; selection of investment form; d) Analysis of natural conditions, economic and technical conditions and selection of investment destination; dd) Plans for management, operation and use of the project; e) Environmental impact assessment and environmental protection measures; g) General plan for compensation, site clearance and residential resettlement; h) Proposed schedule of implementation of the project; main timeline of investment; i) Determination of gross investment, funding structure and capital mobilization plans; k) Determination of costs incurred from operation, maintenance, overhaul and major repair at the stage of operation and exploitation of the project; l) Arrangements necessary for management of the project, including determination of project owner, analysis and selection of form of project implementation management, relationship and responsibilities of persons and entities regarding the process of implementation of the project and design of the machinery for management and operation of the project; m) Analysis of investment efficiency, including efficiency and impacts in socio-economic, national defence and security aspects; capital recovery capacity (if any).
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3. Contents of feasibility study reports of projects with construction components shall be subject to law on construction and other provisions of relevant laws. Article 45. Documentation requirements for, contents and time of evaluation of, and grant of decisions on policies for investment in, public investment programs and projects 1.
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Documentation requirements for evaluation of public investment programs and projects shall include: a) Report form submitted to apply for evaluation of the public investment program and project; b) Feasibility study report of the public investment program and project; c) Other relevant documents. 2.
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2. Documentation requirements for grant of decisions on public investment programs and projects, contents of, time of evaluation of and decision on public investment programs and projects shall be subject to the Government’s regulations. Chapter III DESIGN, EVALUATION, APPROVAL AND ASSIGNMENT OF TASKS OF PUBLIC INVESTMENT PLAN Section 1. GENERAL PROVISIONS Article 46. Classification of public investment plans 1.
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Public investment plans shall be classified by the planned time limits, including: a) Mid-term public investment plan that must be valid for the period of 05 years and must be in line with the 5-year socio-economic development plan; b) Annual public investment plan that must be made to support the implementation of the mid-term public investment plan and must fit into objectives of the annual socio-economic development plan and the annual public investment budget balance. 2.
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2. Public investment plans shall be classified by levels of regulatory authority, including: a) National public investment plan; b) Public investment plans of Ministries and central regulatory authorities; c) Public investment plans of local authorities at any level. 3.
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Public investment plans shall be classified by funding sources, including: a) Plan for investment of the central budget funds, including investments specific to sectors, industries, public investment programs and portions of state capital participation in projects in the public-private partnership form, subject to law on state budget; a) Plan for investment of the local budget’s funds, including investments specific to sectors, industries, public investment programs and portions of state capital participation in projects in the public-private partnership form, subject to law on state budget; c) Plan for investment of legitimate revenues that state regulatory authorities and public service units retain for investment purposes.
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Article 47. Bases for formulation of mid-term and annual public investment plans 1.
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Midterm public investment plan shall be formulated on the following bases: a) Current conditions and outcomes of implementation of the 5-year socio-economic development plan and the midterm public investment plan developed in the previous stage; b) Socio-economic development strategy; national, sector-specific, industry-specific and local 5-year socio-economic development plans; 5-year financial plan; 5-year borrowing and public debt repayment plans; preferred investment objectives included in 5-year national, sector-specific, industry-specific and local public investment plans; c) Related planning scheme provided for in law on planning; d) Demands for and forecast of capabilities of mobilization of funding sources invested in construction of socio- economic infrastructure and of balancing the state budget’s capital; dd) Forecast of impacts of global and domestic situations on development and capabilities of mobilization of investment funds; e) Regulatory and policy framework on calling for investment funds from different economic sectors for the purposes of construction of socio-economic infrastructure.
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2.
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Annual public investment plan shall be formulated on the following bases: a) Review of progress in and outcomes of implementation of national, sector-specific, industry-specific and local socio-economic development plans; outcomes of implementation of the previous-year public investment plan; b) Annual socio-economic development plan; c) Midterm public investment plan; d) Demands for and capabilities of balancing resources for the purposes of investing in construction of socio- economic infrastructure in the plan year.
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Article 48. Principles of formulation of mid-term and annual public investment plans 1. Agree with developmental objectives included in the socio-economic development strategy, 5-year and annual national, sector-specific, industry-specific or local socio-economic development and other approved plans, 5-year financial plan, and 5-year borrowing and public debt repayment plan. 2.
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2. Correspond to capabilities of balancing public investment funds and calling for different investment capital from other economic sectors; ensure macroeconomic balance and prioritization of public debt safety. 3. Distribution of public investment capital must adhere to principles, criteria and norms of distribution of public investment capital in specific stages that have already been approved by competent authorities. 4.
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4. Prefer to distribute funds to sectors, industries or territorial areas by taking account of developmental objectives and guidelines existing over periods of time. 5. Ensure public disclosure, transparency and fairness. 6.
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6. Make sure that managerial activities must be performed in a concentrated and consistent manner in terms of objectives, regulations and policies; ensure that investment management powers are decentralized and autonomy is granted to Ministries, central and local regulatory authorities in accordance with laws in order to enhance investment efficiency. 7. Annual public investment plan must be consistent with the approved midterm public investment plan. Article 49.
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Article 49. Contents of reports on midterm public investment plans submitted to competent authorities to seek their approval 1. Review of progress in and outcomes of implementation of the midterm public investment plan existing in the previous stage. 2. Socio-economic development objectives; mid-term sector- and industry-specific investment objectives and investment structure directions. Classification by specific sectors or industries shall be subject to provisions enshrined in the Law on State Budget.
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3. Capabilities of calling for and balancing funds; estimated gross investment in carrying out socio-economic, sector- and industry- specific midterm development goals and tasks, including funds for carrying out planning tasks, investment preparatory tasks, project execution tasks and repayment of advances and other borrowings granted by local banks for investment purposes. 4.
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4. Total state budget capital in the midterm public investment plan, including the central budget’s capital, the local budget’s capital; the central budget’s gross capital specific to sectors, industries and proposed transfers to specific Ministries, central regulatory authorities and target transfers from the central budget to the local budget, with respect to reports presented to the National Assembly.
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Total capital of each entity allocated the public investment plan using the local budget specific to sectors, industries and target transfers to the inferior budget with respect to reports presented to People's Councils at any level. 5. Principles and criteria for allocation of capital from the midterm public investment plan. 6.
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6. Arranging public investment projects in order of priority, selecting the investment portfolio and capital allocated to specific public investment projects in the midterm period to ensure relevance to capabilities of balancing public investment capital and calling for other funding sources for the purposes of carrying out goals, tasks and directions in the 5-year socio-economic development plan. 7. Measures for implementation and expected outcomes. Article 50.
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Article 50. Contents of reports on annual public investment plans submitted to competent authorities to seek their approval 1. Review of progress in implementation of the previous-year public investment plan. 2. Directions for making public investment in the plan year. 3. Capability of calling for and balancing capital to be realized in the plan year. 4.
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4. Selecting the investment portfolio and capital allocated to specific projects to ensure relevance to the portfolio of projects belonging to the midterm public investment plan and capabilities of balancing the annual budgeted capital. 5. Measures for administration, arrangements for implementation and expected outcomes. Article 51. Principles for allocation of capital included in the midterm and annual public investment plans for public investment programs and projects 1.
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Serve the purposes of carrying out developmental goals and directions specified in the approved socio-economic development strategy, plan and planning scheme. 2. Comply with capital allocation principles, criteria and norms already obtaining the competent authority’s decision. 3.
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3. Concentrate on allocating public investment capital to complete and accelerate the progress in implementation of national target programs, public investment projects of national significance, key public investment programs and projects of great significance to the socio-economic development of the entire nation, regulatory authorities at any level and sectoral administrations. 4.
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In each sector or industry, public investment capital shall be allocated in the following order of priority: a) Public investment projects already completed and transferred for use and yet to obtain the adequate amount of allocated capital; b) Reciprocal capital for investment projects using ODA and other preferential borrowed funds of foreign sponsors; c) State capital participation in implementing projects in the public-private partnership form; d) Transitional projects to be implemented according to the approved schedule; dd) Projects expected to be completed during the plan period; e) New projects meeting requirements specified in clause 5 of this Article.
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5.
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Budgeted capital for new public investment programs and projects must be allocated in conformance to the following requirements: a) These new public investment programs and projects must prove its necessity and meet regulatory requirements for being allocated budgeted capital as provided in Article 52 and 53 herein; b) These new public investment programs and projects must be implemented after allocation of capital for repayment of debts accruing from capital construction which are subject to clause 4 of Article 101 herein; c) The adequate amount of allocated capital must be provided for completion of these new public investment programs and projects according to the approved investment schedule.
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6. The National Assembly shall make its decision on the investment capital, the use and date of use of the central budget’s general provisions for the national midterm public investment plan. People’s Councils at any level shall make its decision on the investment capital, the use and date of use of the general provisions in their respective budget for midterm public investment plans. Article 52.
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Article 52. Requirements for eligibility of other public investment programs, projects, tasks and objects for entering into the midterm public investment plan In order for other public investment programs, projects, tasks and objects to enter into midterm public investment plans, they must comply with law on principles and criteria for allocation of public investment capital and meet one of the following requirements: 1.
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Transitional projects belong to the portfolio of projects in the midterm public investment plan in the previous stage; 2. Public investment programs and projects already obtaining investment policy decisions from competent authorities, and new public investment projects, have to ensure that the maximum duration of disbursement of capital for implementation of group-A, group-B and group-C public investment projects is 6, 4 and 3 years, respectively.
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After such duration has expired, the Prime Minister shall grant the decision on the time of disbursement of capital for implementation of public investment projects using the central budget's capital while the provincial-level People's Council shall grant the decision on the time of disbursement of capital for implementation of public investment projects using the local budget’s capital; 3. Public investment tasks and projects are classified as those referred to in clause 6 of Article 18 herein; 4.
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They have to be classified as public investment objects referred to in clause 4 and 6 of Article 5 herein. Article 53. Requirements for eligibility of other public investment programs, projects, tasks and objects for access to the budgeted capital specified in the annual public investment plan 1. Other public investment programs, projects, tasks and objects have to be listed in the midterm public investment plan, except urgent public investment projects. 2.
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2. Other public investment programs, projects, tasks and objects have obtained the competent authority’s decisions. Article 54. Investment preparatory capital, capital used for carrying out planned tasks and capital used for implementing projects listed in midterm and annual public investment plans 1. Investment preparatory capital may be allocated for the purposes of designing, evaluating and grant decisions on investment policies; designing, evaluating and grant decisions on investment in projects.
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2. Capital used for carrying out planning tasks may be allocated with the aim of formulating, evaluating, adopting or approving, releasing and adjusting a planning scheme, subject to provisions laid down in law on planning. 3.
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3. Capital used for implementing projects may be allocated for the purposes of clearing project sites, making technical designs, construction drawings, creating an estimate of costs of projects or workloads thereof, carrying out construction and other activities under project approval decisions. Article 55. Procedures for design and evaluation of midterm public investment plans 1.
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Prior to June 30 of the fourth year in the previous public investment plan, the Ministry of Planning and Investment formulates and petitions the Prime Minister to approve directions and criteria for distribution of estimated midterm public investment funds to Ministries central and local regulatory authorities. 2.
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Prior to July 31 of the fourth year in the previous public investment plan, the Prime Minister promulgates the directive for design of the subsequent midterm public investment plan in which the estimated gross investment is equal to total public investment capital specified in the previous midterm public investment plan, and informs the estimated gross investment decided by Ministries, central and local regulatory authorities as a basis to grant the decision on policy for investment in public investment programs and projects to be implemented in the following plan period.
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3. Prior to August 15 of the fourth year in the previous midterm public investment plan, the Ministry of Planning and Investment provides Ministries, central and local regulatory authorities with instructions about objectives, requirements, duration and schedule of formulation of the midterm public investment plan. 4.
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According to the Prime Minister’s regulations and instructions given by the Ministry of Planning and Investment, other Ministries and central regulatory authorities shall assume the following responsibilities: a) Authorize bodies specialized in management of public investment to provide instructions to design midterm public investment plans; b) Authorize their directly affiliated entities and units using public investment capital to design the subsequent midterm public investment plan within the scope of their respective duties, report supervisory bodies to consider such plan according to the schedule under the Prime Minister’s regulations and according to the instructions given by the Ministry of Planning and Investment; c) Authorize bodies specialized in management of public investment to carry out the evaluation of the subsequent midterm public investment plan according to the schedule specified in the Prime Minister's decision and instructions given in the Ministry of Planning and Investment; d) Authorize bodies specialized in management of public investment to prepare the midterm public investment plan for submission to the competent authority to review, complete and send it to the Ministry of Planning and Investment and the Ministry of Finance according to the schedule specified in the Prime Minister’s regulations and instructions given by the Ministry of Planning and Investment.
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5.
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According to the Prime Minister’s regulations and instructions given by the Ministry of Planning and Investment, provincial-level People’s Committees shall assume the following responsibilities: a) Instruct local authorities and units to prepare the subsequent midterm public investment plan; b) Authorize entities and units using public investment capital to design and evaluate the subsequent midterm public investment plan to ensure that these activities fall within the scope of their assigned duties and the investment capital used for such plan does not exceed the budgeted capital under their management, and report to supervisory bodies to review it before submission to bodies specialized in management of public investment at the provincial level; c) Carry out the evaluation or authorize bodies specialized in management of public investment at the provincial level to carry out the evaluation of midterm public investment plans prepared by provincially-controlled departments and divisions; d) Authorize bodies specialized in management of public investment at the provincial level to prepare provincial-level midterm public investment plans for the subsequent period for submission to provincial-level People’s Committees for review purposes; dd) Petition provincial-level People’s Councils to give their opinions on midterm public investment plans for the subsequent period; e) Prepare complete ones for submission to the Ministry of Planning and Investment and the Ministry of Finance.
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6. District-level and commune-level People’s Committees take charge of designing, evaluating, or authorizing bodies specialized in management of public investment to design or evaluate, subsequent midterm public investment plans of their own, submit them to same-level People's Councils to obtain their opinions and send them to superior-level People’s Committees in accordance with point a of clause 5 of this Article. 7.
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7. Prior to January 31 of the fifth year in the previous midterm public investment plan, the Government estimates state budget balancing capabilities to determine capital expenditures for the subsequent period. 8.
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8. From February 1 to April 30 of the fifth year in the previous midterm public investment plan, the Ministry of Planning and Investment presides over the evaluation of the plan and method for allocation of capital specified in midterm public investment plans funded by the central budget of Ministries, central and local regulatory authorities. 9.
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9. After receipt of evaluation opinions from the Ministry of Planning and Investment, other Ministries and central regulatory authorities prepare their complete midterm public investment plans for the subsequent period for submission to the Ministry of Planning and Investment and the Ministry of Finance ahead of June 30 of the fifth year in the previous midterm public investment plan. 10.
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After receipt of evaluation opinions from the Ministry of Planning and Investment, provincial-level People’s Committees shall assume the following responsibilities: a) Authorize district-level and commune-level People’s Committees to prepare complete midterm public investment plans of their own for submission to same-level People's Councils to seek their opinions before they have to submit them to provincial-level People's Committees prior to May 31 of the fifth year in the previous midterm public investment plan; b) Authorize bodies specialized in management of public investment at the provincial level to prepare complete midterm public investment plans of their own for submission to provincial-level People's Committees that will then petition same-level People's Councils to give their opinions prior to June 15 of the fifth year in the previous midterm public investment plan; c) Prepare complete midterm public investment plans for the subsequent period for submission to the Ministry of Planning and Investment and the Ministry of Finance ahead of June 30 of the fifth year in the previous midterm public investment plan.
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11. Prior to July 31 of the fifth year in the previous midterm public investment plan, the Ministry of Planning and Investment compiles the national midterm public investment plan for submission to the Government. Article 56. Procedures for design and evaluation of annuals public investment plans 1.
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Prior to every May 15, the Prime Minister promulgates regulations on designing the socio-economic development plan and making the subsequent-year state budget estimate under which this plan and estimate must describe main aims and objectives and assignment of duties to take control of drawing up the subsequent-year public investment plan. 2.
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2. Prior to every June 15, the Ministry of Planning and Investment provides Ministries, central and local regulatory authorities with instructions about the socio-economic development plan, objectives, requirements, contents, duration and schedule of formulation of the subsequent-year midterm public investment plan. 3. Prior to every June 30, Ministries, central and local regulatory entities provide their subordinate entities and units to prepare subsequent-year public investment plans. 4.
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4. Prior to every July 20, bodies specialized in management of public investment take charge of preparing, evaluating and compiling subsequent-year public investment plans to ensure that these activities fall within the scope of their assigned duties and the budget for each of such plans does not exceed the limit of expenditures under their management, and reporting to same-level People's Committees. 5.
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5. Prior to every July 25, People’s Committees present the proposed public investment plan in the subsequent year to same-level People’s Councils to seek their ratification. 6. Prior to every July 31, Ministries, central and local regulatory authorities prepares complete subsequent-year public investment plans for submission to the Ministry of Planning and Investment and the Ministry of Finance. 7.
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7. Prior to every August 15, the Ministry of Finance presides over and cooperates with the Ministry of Planning and Investment in estimating capacity of state budget revenues and expenditures, and the state budget’s capital expenditures for use in implementation of the subsequent-year public investment plan.
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Ministry of Planning and Investment makes the public disclosure of the amount of the central budget's development capital proposed to be allocated to Ministries, central and local regulatory authorities in the subsequent-year public investment plan. 8. Prior to every August 25, Ministries, central and local regulatory authorities prepares complete subsequent-year public investment plans for submission to the Ministry of Planning and Investment and the Ministry of Finance. 9.
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9. Prior to every August 31, the Ministry of Planning and Investment compiles the national subsequent-year public investment plan for submission to the Government. Section 2. DESIGN, EVALUATION, APPROVAL AND ASSIGNMENT OF TASKS OF PUBLIC INVESTMENT PLANS Article 57. Principles of selection of investment portfolio, estimation of public investment capital allocated to specific projects listed in midterm and annual public investment plans funded by the state budget’s capital 1.
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These activities shall be subject to regulations laid down in Article 51, 52, 53 and 54 herein. 2. Corresponding to capabilities of balancing state budget capital mentioned in midterm and annual public investment plans, estimating capabilities of calling for other funding sources for use in public investment projects using multiple investment capital. 3.
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3. These activities have to fall within public investment programs and tasks of using capital expenditures funded by the state budget which have already been approved. 4. Conforming to principles, criteria and norms of distribution of the state budget’s capital expenditures during the plan period. 5. Investment capital allocated to specific public investment programs and projects is not allowed to exceed the gross investment capital for approved public investment programs and projects Article 58.
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Principles of selection of investment portfolio, estimation of public investment capital allocated to specific projects listed in midterm and annual public investment plans funded by the local budget’s capital 1. These activities shall be subject to regulations laid down in Article 51, 52, 53 and 54, and clause 4 and 5 of Article 57 herein. 2.
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2. Corresponding to capabilities of balancing the local budget’s revenues and expenditures, midterm and annual public investment plans, and capabilities of calling for other funding sources for use in public investment projects using multiple investment capital. 3. These activities have to fall within public investment programs and tasks of using capital expenditures funded by the local budget which have already been approved. Article 59.
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Article 59. Formulation, evaluation, approval and assignment of tasks of midterm and annual plans of capital funded by legitimate revenues of state regulatory authorities and public service units retained for investment purposes 1.
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State regulatory authorities and public service units using capital from legitimate revenues retained for investment purposes must prepare midterm and annual public investment plans for submission to Ministries, central regulatory authorities and People’s Committees at any level taking direct control of these entities. 2.
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2. Ministries, central regulatory authorities and People’s Committees at any level shall be responsible for evaluating, approving and assigning tasks of annual capital plans, approving adjustments in annual plans of capital derived from legitimate revenues of state regulatory authorities and public service units retained for investment purposes in order to ensure that such capital falls within actual capabilities for use as capital expenditures in accordance with relevant laws. 3.
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3. Midterm and annual public investment plans using legitimate revenues that state regulatory authorities and public service units retain for use in investment activities shall be independent of midterm and annual public investment plans using the state budget's capital. 4.
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4. Ministries, central regulatory authorities and provincial-level People’s Committees shall be responsible for compiling midterm and annual public investment plans using legitimate revenues that state regulatory authorities and public service units retain for use in investment activities, and submitting them to the Ministry of Planning and Investment and the Ministry of Finance for compiling purposes and for making representations to the Government and National Assembly. 5.
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5. The Government shall set out specific provisions of this Article. Article 60. Submission, representation, approval and assignment of tasks of midterm public investment plans using the state budget's capital 1.
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https://faolex.fao.org/docs/pdf/vie202112.pdf