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7.
Investment policy refers to a competent authority’s decision concerning major contents of an investment program or project, serving as a basis to issue, submit and approve a decision on investment in an investment program and project, or a decision on approval of a feasibility study report of a public investment project.
8.
Public investment program refers to a combination of goals, duties and solutions designed to carry out socio- economic development objectives.
9. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
9.
National target program refers to a public investment program designed to pursue socio-economic objectives in specific stages on a nationwide scale.
10.
Host entity refers to a Ministry, central or local entity prescribed in clause 4 of this Article that is in charge of an investment program or project.
11. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
11.
Entity specialized in management of public investment refers to a unit performing the function of management of public investment that is put under the control of the Ministry of Planning and Investment; a unit assigned to take charge of public investment affairs of a Ministry, central or local authority; a division or department authorized to manage public investment that is put under the control of a district or commune-level People's Committee.
12. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
12.
Entity accorded regulatory authority over public investment includes Government, Ministry of Planning and Investment and People's Committee at all levels.
13.
Public investment project refers to a project using all or part of public investment capital.
14. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
14.
Urgent public investment project refers to a public investment project designed to promptly prevent, control and mitigate consequences of acts of God, disasters or diseases; an urgent duty to ensure national defence, security and external relations that is subject to the decision of a competent authority.
15.
Public investment refers to the State’s investment in programs, projects and others classified as subjects of public investment as provided for herein.
16. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Public investment activities include formulation, evaluation of and decision on an investment policy; design, evaluation of and decision on a public investment program or project; formulation, evaluation, approval, assignment and implementation of a public investment plan or project; management and use of public investment capital; commissioning and transfer of a program and preparation of final accounts of a public investment project; monitoring, assessment, examination and inspection of a public investment plan, program or project. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
17.
Public investment plan refers to a collection of objectives, guidelines and lists of public investment programs and projects; balancing of public investment capital sources, alternatives for fund disbursement, methods of channeling resources and implementation thereof.
18.
Investment preparatory activities encompasses formulation, evaluation of and decision on an investment policy, and formulation, evaluation of and decision on investment in a project.
19. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
19.
Planning activities refers to activities to be performed to formulate, evaluate and decide or approve, release and adjust a planning scheme, subject to provisions laid down in the Law on Planning.
20.
Outstanding debts accruing from capital construction activities refers to the post-commissioning value of items that constitute a project belonging to the public investment plan approved by a competent authority and not yet receiving any portion of funds disbursed to these items.
21. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
21.
Decentralization of regulatory authority over public investment refers to an act of determining rights and responsibilities of entities and persons having competence in performing public investment activities.
22.
Public investment capital regulated herein shall comprise: state budget funds; legitimate revenues of state agencies and public service units that are retained for investment purposes as provided in law.
23. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
23.
Central budget’s capital refers to capital expenditures of the central budget, subject to the Law on State Budget.
24.
Local budget’s capital refers to capital expenditures of the local budget, subject to the Law on State Budget.
25. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
25.
Target transfers from the central budget to the local budget refers to funds from the central budget that are granted as financial supplements in order for local subdivisions to make investment in public investment programs and projects listed in their respective duties decided by a competent authority.
Article 5.
Public investment objects 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Investment in socio-economic infrastructure construction programs and projects Where really necessary, compensation, support and residential resettlement activities in investment projects of national significance may be divided into separate projects, subject to the National Assembly’s evaluation and decision; with respect to those activities in group-A investment projects, subject to the evaluation and decision of the Prime Minister or provincial-level People’s Council under their respective delegated powers. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Projects may be separated when approving investment policies for investment projects of national significance and group-A investment projects.
2.
Investment in giving support to activities of state regulatory authorities, public service units, political organizations and socio-political organizations.
3.
Investment in and support given to investments in provision of public utility and social welfare products and services.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
Investment of the State in participation in implementing projects in the public-private partnership form.
5.
Investment in providing support for formulation, evaluation of and decision on or approval, public disclosure and modification of planning schemes as per law on planning.
6. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
6.
Investment in granting subsidies to offset preferential lending interest rates; making equity contribution to the charter capital of policy banks and state off-budget financial funds; providing investment support for other policy beneficiaries under the Prime Minister’s decisions.
The Government shall promulgate regulations procedures and processes for carrying out investment that are applied to those beneficiaries specified in this clause.
Article 6.
Classification of public investment projects 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Public investment projects can be classified by their characteristics as follows: a) Projects with construction constituents constitute investment projects in new construction, renovation, upgradation and expansion of existing investment projects, including purchase of project-controlled assets and equipment; b) Projects without construction constituents refer to investment projects in purchasing assets, acquiring transferred land use rights, procuring, repairing and upgrading equipment, machinery and other projects that are not prescribed in point a of this clause. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Public investment projects may be classified by the level of significance and scale into investment projects of national significance, group-A, group-B and group-C investment projects according to criteria referred to in Article 7, 8, 9 and 10 herein.
Article 7. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 7.
Criteria for classification of investment projects of national significance Investment projects of national significance constitute independent investment projects or a complex of closely connected construction projects, and must meet one of the following criteria: 1.
Using public investment capital worth 10,000 billion dong or above; 2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Having substantial environmental impacts or posing potential risks in making serious environmental impacts, including the following projects: a) Nuclear power plants; b) Those projects using land subject to the requirement for conversion of land use purposes from land in national parks, nature reserves, protected landscapes, research and experimental forests covering an area of 50 hectares or more; upstream protective forests covering an area of 50 hectares or more; protective forests, used as wind, sand screens, wave breakers, and for reclaiming land from the sea and protecting environment, that cover an area of 50 hectares or more; production forests covering at least 1,000 hectares; 3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Using land subject to the requirement for conversion of land use purposes from arable land for growing wet rice during at least two cropping seasons which covers an area of 500 hectares or more; 4.
Moving and resettling at least 20,000 inhabitants in mountainous areas or at least 50,000 inhabitants in other regions; 5.
Requiring special legal frameworks or policies subject to the National Assembly's resolutions.
Article 8. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 8.
Criteria for classification of group-A investment projects Except investment projects of national significance specified in Article 7 herein, projects falling under one of the following criteria shall be classified as group-A investment projects: 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects falling into the following circumstances, irrespective of the gross investment: a) National defence and security projects rated top secret; b) Hazardous and explosive production projects; c) Investment projects in construction of infrastructure of industrial parks, export processing zones and hi-tech parks; 2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects with the gross investment worth 2,300 billion dong or greater in the following fields: a) Transport, including bridges, seaports, inland ports, airports, railways and national highways; b) Electric power industry; c) Oil and gas production; d) Chemical, fertilizer and cement production; dd) Machine manufacturing and metallurgy; e) Mining and mineral processing; g) Construction of residential buildings; 3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects with the gross investment worth 1,500 billion dong or greater in the following fields: a) Transport, except those projects specified in point a of clause 2 of this Article; b) Water resources and irrigation; c) Water supply and drainage, waste treatment and construction of other technical infrastructure; d) Electrical engineering; dd) Production of communication and electronic equipment; e) Pharmaceutical chemistry; g) Production of materials, except those projects specified in point d of clause 2 of this Article; h) Mechanical engineering projects, except those projects specified in point dd of clause 2 of this Article; i) Post and telecommunications; 4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects with the gross investment worth 1,000 billion dong or greater in the following fields: a) Agricultural, forestry and aquacultural production; b) National parks and nature reserves; c) Technical infrastructure of new urban zones; d) Industry, except for those projects in the industrial sectors specified in clause 1, 2 and 3 of this Article; 5. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects with the gross investment worth 800 billion dong or greater in the following fields: a) Health, culture and education; b) Scientific research, information technology, radio and television broadcasting; c) Treasure; d) Tourism, sport and physical activities; dd) Civil construction, except construction of residential buildings specified in point g of clause 2 of this Article; e) Projects developed in the national defence and security field, except those projects specified in clause 1, 2, 3 and 4 of this Article. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 9.
Criteria for classification of group-B investment projects 1.
Those projects in the fields specified in clause 2 of Article 8 herein with total investment worth from 120 billion dong to less than 2,300 billion dong.
2.
Those projects in the fields specified in clause 3 of Article 8 herein with the gross investment worth from 80 billion dong to less than 1,500 billion dong.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Those projects in the fields specified in clause 4 of Article 8 herein with the gross investment worth from 60 billion dong to less than 1,000 billion dong.
4.
Those projects in the fields specified in clause 5 of Article 8 herein with the gross investment worth from 45 billion dong to less than 800 billion dong.
Article 10.
Criteria for classification of group-C investment projects 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Those projects in the fields specified in clause 2 of Article 8 herein with the gross investment worth less than 120 billion.
2.
Those projects in the fields specified in clause 3 of Article 8 herein with total investment worth less than 80 billion.
3.
Those projects in the fields specified in clause 4 of Article 8 herein with the gross investment worth less than 60 billion.
4.
Those projects in the fields specified in clause 5 of Article 8 herein with the gross investment worth less than 45 billion. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 11.
Modification of criteria for classification of public investment projects 1.
The National Assembly shall have authority to make its decision on modification of criteria for classification of projects of national significance referred to in Article 7 herein.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Government shall be charged with petitioning the National Assembly Standing Committee to seek its decision on modification of criteria for classification of public investment projects prescribed in Article 8, 9 and 10 herein and reporting to the National Assembly in the upcoming meeting session.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Criteria for classification of public investment projects specified in clause 1 and 2 of this Article may be modified in the event that the price index has varied critically and there is a major adjustment in decentralization of public investment management powers related to criteria for classification of public investment projects or existence of other important elements affects criteria for classification of public investment projects.
Article 12.
Public investment management principles 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Public investment management principles 1.
Comply with law on management and use of public investment capital.
2.
Conform to the national socio-economic development strategy, the national socio-economic development plan during the 5-year period and other relevant planning schemes prescribed in law on planning.
3.
Duly implement stipulated responsibilities and powers of state regulatory authorities, entities and persons involved in management and use of public investment capital.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
Manage the use of public investment capital classified by specific funding sources in accordance with regulations; ensure that investment is made on a concentrated and consistent manner, meets required quality standards, is economical and effective, and capability of balancing resources; avoid any waste and loss.
5.
Ensure transparency and public disclosure of public investment activities.
Article 13.
Tasks involved in state management of public investment 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Promulgate and direct implementation of legislative documents on public investment.
2.
Design and lead the implementation of public investment strategies, programs, plans, solutions and policies.
3.
Monitor and provide information about management and use of public investment capital.
4.
Assess effectiveness of public investment; check, inspect and oversee compliance with laws on public investment and conformance to public investment plans.
5. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
5.
Impose sanctions for violations against law, handle complaints and denunciations of entities and persons involved in public investment activities.
6.
Offer rewards to entities and persons who have delivered good performance of public investment activities.
7.
Enter into international cooperation in public investment.
Article 14.
Transparency and public disclosure of public investment activities 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Public investment information that must be made publicly available and transparent, including: a) Regulatory framework, laws and conduct of implementation of laws and policies during the period of management and use of public investment capital; b) Principles, criteria for distribution of public investment capital and limits of distributed investment funds; c) Principles, criteria and bases for compiling the portfolio of investment projects in the mid-term and annual public investment plan; d) Public investment plans and programs to be developed at localities; funding for each program in specific years and progress of implementation and disbursement of funds for public investment programs; dd) Portfolio of investment projects to be developed at localities, including scale, gross investment, time and location; report on assessment of overall impacts of each investment project on receiving localities; e) Plan for distribution of mid-term and annual public investment capital, including the portfolio and public investment capital amounts allocated to specific investment projects; g) Current situations of mobilization of resources and other funding sources used as capital participation in implementation of public investment projects; h) Current situations and results of implementation of public investment plans, programs and projects; i) Implementation and fund disbursement progress; k) Results of acceptance testing and assessment of public investment programs and projects; l) Final accounts of public investment capital. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Heads of regulatory authorities, organizations and affiliates thereof must make a public disclosure of such public investment information in accordance with laws.
Article 15.
Costs of design, assessment, monitoring, examination, evaluation and inspection of public investment plans, programs and projects 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Costs of preparation and assessment of an investment policy recommendation report for a public investment program using current expenditures of entities and units assigned to carry out these activities.
2.
Costs of preparation and assessment of a pre-feasibility study report or an investment policy recommendation report for a project using investment preparatory funds.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Costs of formulation and assessment of a public investment plan using current expenditures of entities and units formulating and assessing public investment plans.
4.
Costs of monitoring, inspection and evaluation of a public investment plan, program or project using current expenditures of entities and units assigned to carry out these tasks.
5.
Costs of inspection of use of current expenditures of inspecting entities and units.
6. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
6.
As for public investment programs or projects using Official Development Assistance (ODA) funds and other preferential borrowings from foreign sponsors, these sponsors shall be encouraged to give financial support to pay costs specified in this Article.
Article 16.
Prohibited acts of public investment 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Prohibited acts of public investment 1.
Issuing decisions on investment policies that are not conformable to public investment strategies, plans and programs; in which funding sources and capital balancing capability are not defined; ultra vires or in breach of legally required processes and procedures.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Issuing decisions on investment in public investment programs or projects without obtaining the competent authority’s decisions on investment policies or in breach of requirements concerning objectives, scope, scale or in excess of total investment specified in investment policies decided by competent authorities.
Issuing decisions on adjustment in the gross investment in public investment programs or projects in violation of regulations enshrined in law on public investment.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Abusing assigned titles and powers to appropriate, make personal gain from and commit corrupt acts while managing and using public investment capital.
4.
Program or project owners collude with consulting organizations and contractors in issuing decisions on investment policies and decisions on public investment programs or projects that result in any loss or waste of state capital, property and national resources, and harms or infringement on legitimate interests of single citizens and the public.
5. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
5.
Giving, taking bribes and acting as kickback brokers.
6.
Requesting entities and persons to put investment at their own expense when public investment programs or projects have not yet obtained decisions on investment policies, approval or incur debts accruing from capital construction activities.
7.
Using public investment capital for wrongful purposes, to serve incorrect beneficiaries, in excess of standards and limits prescribed in law.
8. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
8.
Counterfeiting and falsifying information and documents related to decisions on investment policies, investment decisions and implementation of public investment programs or projects.
9. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
9.
Deliberately reporting and providing incorrect, untrue and impartial information that may affect formulation, evaluation of and decision on public investment plans, programs and projects, and monitoring, assessing, examining, inspecting and imposing sanctions for any violation arising from implementation of public investment plans, programs and projects.
10. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
10.
Deliberately damaging, lying about, concealing or storing an inadequate number of documents and evidences relating to decisions on investment policies, investment decisions and implementation of public investment programs and projects.
11.
Hindering discovery of any violation against law on public investment.
Chapter II INVESTMENT POLICIES AND DECISIONS ON INVESTMENT IN PUBLIC INVESTMENT PROGRAMS AND PROJECTS Section 1.
FORMULATION, EVALUATION OF AND DECISION ON INVESTMENT POLICIES Article 17. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Authority to issue decisions on policies for investment in programs and projects 1.
The National Assembly shall be vested with authority to issue decisions on policies for investment in the following programs and projects: a) National target programs; b) Investment projects of national significance.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Government shall be vested with authority to make decisions on policies for investment in public investment programs using the central budget allocations, except those specified in point a of clause 1 of this Article.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
The Government shall be authorized to set out regulations on power decentralization, procedures and processes for making decisions on investment policies for public investment programs or projects using legitimate revenues from state regulatory authorities and public service units for investment purposes in compliance with regulations on the financial autonomy of entities. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
In case where those public investment programs or projects specified in this clause use state budget allocations, authority, procedures and processes for making decisions on these programs or projects shall be subject to provisions laid down herein.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
The Prime Minister shall be accorded authority to issue decisions on policies for investment in the following programs and projects: a) Public investment projects specified in clause 1 of Article 8 herein; other group-A public investment projects using the central budget allocations under the jurisdiction of Ministries or central regulatory agencies; b) Public investment programs and projects using ODA borrowings and preferential borrowings from foreign sponsors, except national target programs and public investment programs specified in clause 1 and 2 of this Article; c) Public investment programs and projects using non-refundable ODA aids that fall into the following situations: Group-A and group-B public investment programs and projects; public investment programs and projects associated with regulatory policy framework; public investment programs and projects that are developed and implemented in the national defence, security and religion fields; sector-specific approach programs; procurement of goods subject to the Prime Minister’s permission; Vietnam’s participation in regional programs and projects; d) Technical support projects using ODA funds and preferential borrowings from foreign sponsors for preparations for investment projects. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
5.
Ministers and Heads of central regulatory agencies shall be accorded authority to make decisions on policies for investment in group-B and group-C public investment projects under their management, except those projects specified in clause 4 of this Article.
6.
Provincial-level People’s Councils shall be accorded authority to make decisions on policies for investment in group-A projects under their jurisdiction, except those projects specified in clause 4 of this Article.
7. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
7.
People’s Councils at all levels shall be vested with powers to make decisions on policies for investment in group-B or group-C public investment programs and projects using the local budget’s allocations, including target transfers from the superior budget and legitimate funding sources under their jurisdiction, except those public investment projects prescribed in clause 4 of this Article. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Where necessary, People’s Councils shall be accorded authority to make decisions on assign People’s Committees at the same level to make decisions on policies for investment in projects specified in this clause in line with developmental objectives, guidelines, financial capacity and specific conditions of localities.
8. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
8.
In case of adjustments in policies for investment in public investment programs and projects, authority to make decisions on policies for investment in public investment programs and projects shall be subject to regulations laid down in clause 1 of Article 34 herein.
Article 18.
Requirements for granting decisions on policies for investment in public investment programs and projects 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Conform to relevant socio-economic development strategies, plans and planning schemes in accordance with law on planning that have already obtained decisions or approval from competent authorities.
2.
Avoid overlapping between public investment programs and projects already obtaining investment policy decisions or investment decisions.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Meet the capacity for balancing public investment capital and channeling other funding sources for use in public investment programs and projects using multiple sources of funding.
4.
Correspond to capabilities of borrowing funds and repaying public or Governmental debts and local government’s debts.
5.
Ensure socio-economic efficiency, national defence and sustainable development.
6. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
6.
Tasks and projects exempted for the investment policy decision requirement, including: a) Investment preparatory tasks; b) Planning tasks; c) Urgent public investment projects; d) Public investment projects belonging to national target programs; dd) Constituent projects belonging to those projects already obtaining the competent authority’s investment policy decisions.
Article 19. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 19.
Procedures and processes for granting decisions on policies for investment in national target programs and public investment projects of national significance 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Entities assigned to make preparations for investment in programs and projects shall assume the following responsibilities: a) Assign their subordinates to prepare investment policy recommendation reports for national target programs and pre-feasibility study reports for public investment projects of national significance; b) Establish a council to evaluate investment policy recommendation reports and pre-feasibility study reports; c) Completely prepare investment policy recommendation reports and pre-feasibility study reports for submission to the Prime Minister. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Prime Minister may establish the state evaluation council chaired by the Minister of Planning and Investment and tasked with evaluating reports on recommendation of investment policies for national target programs and prefeasibility study reports for public investment projects of national significance.
3.
The Government shall seek the National Assembly’s decision on policies for investment in national target programs and public investment projects of national significance.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
The National Assembly’s competent agency shall evaluate documents on national target programs and public investment projects of national significance proposed by the Government.
5.
The National Assembly shall consider adopting resolutions on policies for investment in national target programs and public investment projects of national significance. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
These resolutions shall have the following main contents: objectives, scale, total investment capital, main technologies, location, time and schedule of, mechanism, method for and policies on implementation thereof.
Article 20.
Documents on decisions on policies for investment in national target programs and public investment projects of national significance 1.
Government’s report.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Government’s report.
2.
Investment policy recommendation report for national target programs and pre-feasibility study report for public investment projects of national significance.
3.
Evaluation report of the State Evaluation Council.
4.
Other relevant documents.
Article 21.
Procedures for and subject matters of evaluation of policies for investment in national target programs and public investment projects of national significance 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Evaluation procedures shall be regulated as follows: a) Not later than 60 days prior to the date of opening of a National Assembly's meeting, the Government sends documents on its investment policy decision for national target programs or public investment projects of national significance to the body presiding over evaluation; b) The body presiding over evaluation has the right to request the Government and other related entities or persons to report on issues pertaining to national target programs or public investment projects of national significance; carry out the field survey of issues related to national target programs and public investment projects of national significance; c) Entity or person requested to carry out evaluation by the presiding body is responsible for fully providing all information and documents required for an evaluation. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Subject matters of an evaluation shall be composed of the followings: a) Satisfaction of criteria for identification of national target program or public investment projects of national significance; b) Necessity of investing in public investment program or project; c) Compliance with law; d) Relevance to related socio-economic development strategies, plans and planning schemes in accordance with law on planning; dd) Basic parameters of public investment program or project, including objectives, scale, investment form, scope, location and area of land necessary for implementation of such program or project, timelength and schedule of implementation, alternatives for main technologies, environmental protection approaches, funding sources, capital recovery and debt repayment capability; e) Assessment of socio-economic efficiency and maintenance of national defence and sustainable development; g) Assessment of relevance to land use planning, land distribution and zoning plans included in the related or other planning scheme related to natural resources, residential mobility, agricultural resettlement and residential settlement plans for domestic public investment projects of national significance; h) Assessment of level of risk that an outward investment project of national significance may run in a host country. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 22.
Procedures and processes for granting decisions on policies for investment in public investment programs under the Government’s jurisdiction 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
A program owner shall have the following responsibilities: a) Authorize the entity directly put under their control to prepare an investment policy recommendation report; b) Authorize a competent entity to carry out the evaluation or establish a Council to evaluate the investment policy recommendation report; c) Completely prepare the investment policy recommendation report for submission to the Prime Minister.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Prime Minister may establish an interagency Council or authorize the Ministry of Planning and Investment to preside over or cooperate with related entities in evaluating the investment policy recommendation report.
3.
The program owner prepares a complete investment policy recommendation report according to opinions received from the evaluation prescribed in clause 2 of this Article for submission to the Government.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
The Government reviews inclusions in the report before issuing its decision on investment policy for the public investment program, including objectives, scope, scale, total investment capital, timelength, schedule, mechanism and solutions as well as policies for implementation of the intended program.
Article 23.
Procedures and documentation requirements for grant of decisions on investment policies for group-A public investment projects under the Prime Minister's jurisdiction 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Ministers and Heads of central and local regulatory agencies shall have the following responsibilities: a) Authorize their directly affiliated units and specialized agencies to prepare pre-feasibility study reports; b) Authorize competent entities to carry out the evaluation or establish a Council to evaluate pre-feasibility study reports; c) Command entities specified in point a of this clause to prepare complete pre-feasibility study reports for submission to the Prime Minister. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Concerning group-A public investment projects using ODA funds or preferential borrowings granted by foreign sponsors and those projects specified in clause 1 of Article 8 herein, pre-feasibility study reports shall be completely prepared by provincial-level People’s Committees and then submitted to same-level People’s Councils to obtain their opinions before being represented to the Prime Minister.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Prime Minister shall be accorded authority to make a decision on establishment of an interagency Council or mandate an agency to preside over the evaluation of pre-feasibility study reports as a basis to issue a decision on the investment policy for the intended project. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
The interagency Council or the body presiding over an evaluation may invite any qualified or experienced organization or individual to join in the evaluation of pre-feasibility study reports or may request the project owner to designate any qualified and experienced organization or individual to join in the evaluation of pre-feasibility study reports.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
Ministry of Planning and Investment shall be vested with authority to preside over the evaluation of funding sources and capacity for balancing funds and file results of such evaluation to the interagency Evaluation Council or the body presiding over evaluation.
4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
The interagency Evaluation Council or the body presiding over evaluation which is stated in clause 2 of this Article shall submit evaluation opinions to Ministries, central and local regulatory authorities so that they prepare a complete pre-feasibility study report for submission to the Prime Minister.
5. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
5.
Prime Minister shall be vested with authority to issue an investment policy decision, including such contents as investment objectives, scale, gross investment, structure of funding sources, location, timelength, schedule of implementation of a project and design of funding plans.
Article 24.
Procedures and documentation requirements for grant of decisions on investment policies for group-A public investment projects under the jurisdiction of provincial-level People’s Councils 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
The provincial-level People’s Council shall assume the following responsibilities: a) Authorize their specialized agencies or district-level People’s Committees to prepare pre-feasibility study reports; b) Establish an Evaluation Council composed of the President or Vice President of the provincial-level People's Committee as the Council’s Chair, the agency specialized in management of public investment at the provincial level as the Council’s standing commissioner, and related agencies as the Council’s members, in order to carry out the evaluation of pre-feasibility study reports, funding sources and capital balancing capacity; c) Command entities specified in point a of this clause to prepare complete pre-feasibility study reports on the basis of evaluation opinions. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Provincial-level People’s Committees shall petition same-level People’s Councils to consider granting investment policy decisions, including such contents as investment objectives, scale, gross investment, location, timelength, schedule of implementation of a project and design of funding plans.
Article 25. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 25.
Procedures and documentation requirements for grant of decisions on policies for investment in public investment programs and projects using ODA funds and preferential borrowings from foreign sponsors 1.
Ministries, central and local regulatory authorities recommend public investment programs and projects using ODA funds and other foreign preferential borrowings to the Ministry of Planning and Investment, the Ministry of Finance and other related entities as per law.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
The Ministry of Finance presides over identifying factors of eligibility for preferential treatment, assessing impacts of ODA and preferential borrowings granted by foreign sponsors with respect to debt safety ratios, and determining the domestic financial mechanism under the Law on Public Debt Management.
3. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
3.
The Ministry of Planning and Investment consolidates opinions from Ministries, central and local regulatory authorities concerned, assesses the necessity of each public investment program and project, makes the preliminary assessment of feasibility, socio-economic efficiency and environmental impacts (if any), and impacts of each public investment program or project on the mid-term public investment plan, chooses to recommend appropriate programs and projects to the Prime Minister to seek his decision. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
4.
The Prime Minister considers granting approval of recommended programs or projects.
5.
As for national target programs or public investment projects of national significance, procedures and processes for granting investment policy decisions shall be subject to provisions laid down in Article 19, 20 and 21 herein.
6. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
6.
As for public investment programs put under the Government’s decision-making authority, procedures and processes for granting investment policy decisions shall be subject to provisions enshrined in Article 22 herein.
7.
Regarding group-A public investment projects, procedures and processes for grant of investment policy decisions shall be subject to provisions enshrined in Article 23 herein.
8. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
As for public investment programs or projects put under the Prime Minister’s decision-making authority as provided in point b, c and d of clause 4 of Article 17 herein, procedures and processes for granting investment policy decisions shall be subject to the following regulations: a) Governing body sends the Ministry of Planning and Investment an investment policy recommendation report; b) Ministry of Planning and Investment presides over evaluating the submitted investment policy recommendation report, funding sources and capital balancing capacity before making representations to the Prime Minister; c) Prime Minister considers granting the investment policy decision. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
9. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
As for public investment programs or projects not put under the decision-making authority of entities and persons prescribed in clause 1, 2, 3 and 4 of Article 17 herein, procedures and processes for granting investment policy decisions shall be subject to the following regulations: a) Governing body collects opinions from the Ministry of Planning and Investment, the Ministry of Finance and other related entities about an investment policy recommendation report; b) Based on these opinions, governing body undertakes the evaluation and decides whether an investment policy decision is made. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
10.
Public investment programs or projects using non-refundable ODA funds and not associated with borrowings shall be exempted from the requirement for preparation of project recommendation reports.
Article 26.
Procedures and processes for grant of decisions on policies for investment in group-B and group- C public investment projects using public investment capital under the management of Ministries or central regulatory authorities 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Ministers and Heads of central and local regulatory agencies shall have the following responsibilities: a) Authorize the entity directly put under their control to prepare an investment policy recommendation report; b) Establish a Council to evaluate, or authorize another competent entity to evaluate, the investment policy recommendation report, funding sources and capital balancing capacity; c) Direct the entity prescribed in point a of this clause to prepare a complete investment policy recommendation report based on evaluation opinions. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Based on evaluation opinions prescribed in clause 1 of this Article, Ministers and Heads of central regulatory authorities issue investment policy decisions, including such contents as investment objectives, scale, gross investment, structure of funding sources, location, timelength and schedule of implementation and proposed fund disbursement plan.
Article 27. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 27.
Procedures and processes for grant of decisions on policies for investment in group-B and group- C public investment projects using public investment capital under the management of local authorities 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
The Chairmen/Chairwomen of all-level People’s Committees shall assume the following responsibilities: a) Authorize specialized entities or People’s Committees at the inferior level to directly prepare investment policy recommendation reports; b) Establish a Council to evaluate, or authorize another competent entity to evaluate, these investment policy recommendation reports, funding sources and capital balancing capacity with respect to public investment programs and projects using public investment capital under their respective jurisdiction; c) Direct the entities prescribed in point a of this clause to prepare complete investment policy recommendation reports based on evaluation opinions. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
People’s Committees petitions same-level People’s Councils to consider granting investment policy decisions, including such contents as investment objectives, scale, total investment capital, location, timelength, schedule of implementation of a project and proposed fund disbursement plans, mechanisms, solutions and policies for implementation.
Article 28. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Article 28.
Principles, authority, procedures and processes for grant of decisions on policies for investment in outward public investment projects and projects in the public-private partnership form 1.
Principles, authority, procedures and processes for grant of decisions on policies for outward investment in group- A, group-B and group-C projects shall be subject to the Government’s regulations.
2. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
2.
Principles, authority, procedures and processes for grant of decisions on policies for investment in public investment projects existing in the public-private partnership form shall be subject to law on investment made in the public-private partnership form.
Article 29.
Contents of reports on recommendation of policies for investment in public investment programs Main contents of reports on recommendation of policies for investment in public investment programs shall include: 1. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Necessity of public investment program for implementation of objectives of related socio-economic development strategies, plans and planning schemes in accordance with law on planning; 2.
Objectives, extent and scale of a public investment program; 3.
Total estimated investment capital and structure of resources necessary for implementation of the program, including the portfolio, capacity for balancing public investment capital, mobilization of other funds and resources; 4. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |
Proposed plan for disbursement of fund and schedule of implementation of the program which are adapted for practical conditions and capacity for calling for resources in the rational order of preference, ensure concentrated and efficient investment; 5.
Determining costs related to the implementation process and costs incurred from operation of the program after the program is completed; 6. | https://transfered-docs-lawep.s3.amazonaws.com/thematic1e/rr/1726050216289.pdf | https://faolex.fao.org/docs/pdf/vie202112.pdf |