Chương V Nghị định 182/2024/NĐ-CP: QUẢN LÝ TÀI CHÍNH VÀ GIÁM SÁT

DECREE

ON THE ESTABLISHMENT, MANAGEMENT, AND UTILIZATION OF THE INVESTMENT SUPPORT FUND

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

Pursuant to the Law on Organization of Local Governments dated June 19, 2015;

Pursuant to the Law on amendments to the Law on Organization of the Government and the Law on Organization of Local Governments dated November 22, 2019;

Pursuant to the Law on Investment dated June 17, 2020;

Pursuant to the Law on Enterprises dated June 17, 2020;

Pursuant to the Law on Corporate Income Tax dated June 3, 2008; the Law on amendments to the Law on Corporate Income Tax dated June 19, 2013; and the Law on amendments to the Laws on Taxation dated November 26, 2014;

Pursuant to the Law on Tax Administration dated June 13, 2019;

Pursuant to the Law on High Technology dated November 13, 2008;

Pursuant to the Law on Science and Technology dated June 18, 2013;

Pursuant to the Law on Technology Transfer dated June 19, 2017;

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

Pursuant to Resolution No. 110/2023/QH15 of the 6th Session of the 15th National Assembly;

At the request of the Minister of Planning and Investment;

The Government hereby promulgates the Decree on the establishment, management, and utilization of the Investment Support Fund.

Chapter I

GENERAL PROVISIONS

Article 1. Scope and regulated entities

1. This Decree stipulates the establishment, management, and utilization of the Investment Support Fund (hereinafter referred to as the Fund).

2. This Decree applies to the Fund, enterprises established and operating under Vietnamese law that meet the criteria and conditions specified in this Decree, and agencies, organizations, and individuals involved in the establishment, management, and utilization of the Fund.

Article 2. Interpretation of terms

For the purposes of this Decree, the following terms are defined as follows:

1. Original application refers to the set of application for cost support as stipulated in Clause 2 of this Article, including original documents, primary documents, or valid copies, except for foreign-language documents and their accompanying Vietnamese translations.

2. Valid application refers to an application containing all documents as required under this Decree, with the contents of those documents being fully and consistently declared across the components of the application in accordance with the law

3. Application for cost support refers to the application prepared by an enterprise to carry out procedures for requesting cost support as prescribed in this Decree.

4. Cost support refers to a financial support measure provided by the State to enterprises for items of actual cost support incurred as prescribed in this Decree.

5. Value-added production of high-tech products refers to the value determined by the cost price of all high-tech products sold (excluding royalties and technology transfer fees payable to foreign entities), minus the value of imported input materials from abroad (excluding input materials supplied by export processing enterprises or other organizations and enterprises subject to non-tariff zone regulations under the laws on export and import taxes), calculated for the financial year based on audited accounting records and financial statements.

6. The ratio of value-added production of high-tech products is the ratio determined by dividing the value-added production of high-tech products, as specified in Clause 5 of this Article, by the cost price of all high-tech products.

7. Legally equivalent documents are documents or decisions issued by competent authorities that determine investment policy or approve, permit, or accept project investment, in accordance with laws on investment, land, construction, housing, urban development, bidding, and enterprises, and effective as of the issuance date of such documents or decisions.

8. Financial year is an accounting period for a year as defined under the laws on accounting and taxation.

9. Financial year of the Fund starts on January 1 and ends on December 31 of the calendar year.

10. Application-receiving authority refers to the competent authority responsible for receiving applications for cost support and evaluating enterprises' cost support applications.

Article 3. Principles for applying support policies

1. Enterprises that meet the conditions for cost support items as prescribed in Clause 1, Article 16 of this Decree are eligible for support for those cost items. If an enterprise simultaneously meets the conditions for multiple cost support items, it may receive support for all eligible cost items.

2. Cost support shall be provided in Vietnamese Dong through the following methods:

a) Annual cost support for cost items specified in Section 1, Chapter III of this Decree, based on the financial year for which support is requested. Enterprises shall receive support corresponding to the level at which they meet the conditions for such support;

b) Initial investment cost support as specified in Section 2, Chapter III of this Decree.

3. Enterprises are responsible for self-declaring and ensuring the legality, accuracy, and truthfulness of all data, information, and contents provided in the applications for cost support, and bear full legal responsibility for such declarations.

4. Cost support levels under Chapter III of this Decree shall be based on the proposal of enterprises that meet the support conditions, the approval decision, and the principles specified in Article 27 of this Decree.

5. Each enterprise or project is eligible for cost support for a maximum of 5 years, unless an extension is granted by a decision of the Prime Minister.

6. In cases where an enterprise is simultaneously eligible for support from this Fund and other funds or forms of government support for the same cost item, the enterprise must choose one type of support. Support for the same cost item may only come from one fund or one form of support, unless otherwise stipulated by the Government or decided by the Prime Minister.

7. If an enterprise is simultaneously eligible for support under Sections 1 and 2 of Chapter III of this Decree, it may only choose support under one section.

8. Support as prescribed in Chapter III of this Decree applies to enterprises with projects that have received investment policy approval or a Certificate of investment registration, or other legally equivalent documents, in accordance with the laws on investment, issued before or from the effective date of this Decree.

9. Support for cost items under Section 1, Chapter III of this Decree applies from the financial year in which the high-tech enterprise or the enterprise project specified in Clause 2, Article 16 of this Decree generates revenue, and incurs eligible supported costs. For the first year in which a Certificate of high-tech enterprise, Certificate of high-tech application, Certificate of a newly established enterprise from a high-tech product manufacturing project, Certificate of high-tech product manufacturing project, or Certificate of research and development center project is issued, the supported costs shall include all costs incurred during that financial year.

The enterprise must submit the application for cost support after the end of the financial year for which support is requested, as stipulated in Chapter IV of this Decree.

10. Funds received from the Fund are not included in taxable income for corporate income tax purposes.

Article 4. Reimbursement of cost support

1. Enterprises that have received cost support must reimburse the amount of support in the following cases:

a) Failure to meet the criteria, conditions, and commitments specified in Article 18 of this Decree;

b) Failure to meet the conditions specified in Clause 3, Article 21 of this Decree;

c) The cost item has already been supported by another fund or through another form of government support;

d) Falsification of applications, use of illegal documents, or inaccurate declaration of information leading to the determination of a higher support amount than the actual eligibility.

dd) The enterprise or investor with a project eligible for initial investment cost support fails to meet the criteria, conditions, or eligible cost items for initial investment support specified in Section 2, Chapter III of this Decree, as well as other commitments made by the investor when registering the project and requesting initial investment cost support (if any).

2. The method for reimbursing the cost support amount in the cases specified in Clause 1 of this Article is as follows:

a) For the cases specified in Points a, b, c, and đ, Clause 1 of this Article, enterprises must reimburse the entire amount of cost support received, plus interest calculated on the support amount received. The interest rate shall be equivalent to the average 12-month deposit interest rate announced at the time of reimbursement by three joint-stock commercial banks with state capital: Vietnam Foreign Trade Commercial Joint Stock Bank, Vietnam Joint Stock Commercial Bank for Industry and Trade, and Vietnam Bank for Investment and Development. In addition, a penalty of 10% of the cost support amount received shall be imposed.

b) For the case specified in Point d, Clause 1 of this Article, enterprises must reimburse the difference in support received, plus interest calculated on the difference to be reimbursed at a rate of 0.03% per day. Additionally, a penalty of 10% of the difference amount to be reimbursed shall be imposed.

3. The 10% penalty stipulated in Points a and b, Clause 2 of this Article shall not apply in the following cases:

a) The enterprise reimburses the full amount of cost support or the full differential support amount before the competent authority announces a decision to inspect or audit the enterprise;

b) The enterprise reimburses the full amount of cost support or the full differential support amount before the competent authority identifies the issue without inspection or audit;

c) The enterprise complies with the guidance documents or resolutions issued by the competent authority regarding criteria determination, conditions, costs, and support eligibility.

4. The number of days for interest calculation specified in this Article is counted from the date the enterprise receives the cost support amount to the date the enterprise reimburses the cost support amount, differential support amount, interest, and penalty (if any) to the state budget.

5. The deadline for reimbursing the cost support amount, differential support amount, interest, and penalties (if any) shall be based on the decision of the authority that issued the support decision. If the enterprise fails to reimburse the amount within the stipulated timeframe, the issuing authority may request the competent authority to enforce reimbursement under the provisions of the law on tax administration.

6. The statute of limitations for requesting reimbursement and penalties is 5 years from the date the enterprise received the support funds.

7. In cases where reimbursement arises due to the enterprise’s self-detection before the competent authority announces a decision to inspect or audit the enterprise, or before the competent authority identifies the issue without inspection or audit, the enterprise must submit an adjustment application to the application-receiving authority and simultaneously pay the reimbursement amount and interest to the state budget. Detailed application and procedures shall be implemented according to the Fund’s regulations.

8. The enterprise is responsible for paying the full reimbursement amount, differential support amount, interest, and penalties (if any) to the state budget as prescribed.

9. The reimbursement currency is Vietnamese Dong.

Article 5. Language used in applications for cost support

1. Applications for cost support, documents, and reports submitted to competent authorities must be prepared in Vietnamese.

2. In cases where applications for cost support include documents in foreign languages, the investor must provide Vietnamese translations along with the foreign-language documents.

3. If documents in the applications for cost support are prepared in both Vietnamese and a foreign language, the Vietnamese version shall be used for the support request.

4. Enterprises are responsible for any discrepancies between the translations or copies and the original documents, as well as discrepancies between the Vietnamese and foreign-language versions.

Article 6. Receipt of applications for cost support and handling of related procedures

1. The receipt of applications for cost support and the processing of related procedures shall be conducted as follows:

a) Enterprises are responsible under the law for the legality, accuracy, and truthfulness of the contents of applications for cost support;

b) The application-receiving authority for cost support procedures is responsible for verifying the validity of the application and must not require enterprises to submit additional documents that are not directly related to the determination of eligibility, criteria, or supported costs;

c) In cases where revisions or additions to the application are required, the application-receiving authority shall notify the enterprise in writing once, specifying all the contents that need to be revised or supplemented. The notification must clearly state the grounds, details, and deadlines for revising or supplementing the application. The enterprise is responsible for making the revisions or supplements within the timeframe specified in Clause 2, Article 30 of this Decree;

d) When requiring the enterprise to explain the contents of the application as stipulated in Clause 5, Article 30 of this Decree, the application-receiving authority shall notify the enterprise in writing, specifying the deadline for the explanation. If the enterprise fails to provide the explanation within the prescribed timeframe under Clause 5, Article 30 of this Decree, the application-receiving authority shall consider notifying the enterprise in writing about the cessation of application processing.

2. Seeking opinions among state authorities during the processing of applications for cost support shall be conducted as follows:

a) The opinion-seeking authority must determine the content of the request for opinions in accordance with the functions and duties of the consulted authority and specify the deadline for a response, as prescribed in this Decree;

b) Within the specified deadline under Point a of this Clause, the consulted authority is responsible for responding and shall be accountable for the content of its opinions within its functions and duties. If no response is provided within the specified deadline, it shall be deemed as agreement with the content under the scope of management of the consulted authority.

3. Authorities and individuals with competence are only responsible for the contents they are assigned to approve, appraise, or handle related to cost support activities under this Decree, based on the applications submitted by enterprises. They are not responsible for contents previously approved, appraised, or handled by other competent authorities or individuals.

Article 7. Processing of falsified applications and illegal documents

1. When falsified content in applications for cost support or the use of illegal documents to determine supported costs is identified by competent authorities, organizations, or individuals as prescribed by law, the authority that issued the support decision shall take the following steps:

a) Notify the enterprise in writing about the violation;

b) Revoke or report to the competent authority or individual to consider revoking the cost support decision and related documents (hereinafter referred to as documents) that were issued, or revoke the contents of documents issued based on falsified information or illegal documents;

c) Restore documents issued based on the most recent valid application, recalculate the support amount based on valid applications and documents, and require the enterprise to reimburse the support amount received, including interest and penalties as stipulated in Article 4 of this Decree. Furthermore, the authority shall address the violation or report to the competent authority for resolution in accordance with the law.

2. Enterprises shall be held accountable under the law and bear all damages arising from acts of falsifying application contents or documents and using illegal documents.

Chapter II

INVESTMENT SUPPORT FUND

Article 8. Legal status and legal personality of the Fund

1. The Investment Support Fund is a national fund established by the Government and assigned to the Ministry of Planning and Investment for management; it operates on a non-profit basis and does not aim to preserve the financial resources of the Fund.

2. The Fund is affiliated with the Ministry of Planning and Investment and operates in a model similar to that of a public sector entity, in accordance with specific organizational and operational regulations set forth in this Decree.

3. The Fund has legal personality, may use its own seal, and is permitted to open budgetary accounts at the State Treasury to receive funding from the state budget. It may also open accounts at the State Treasury or commercial banks for non-budgetary resources.

Article 9. Functions, tasks, and powers of the Fund

1. Functions of the Fund

The Fund is responsible for managing and coordinating the financial resources of the Fund to provide support to the entities specified in this Decree.

2. Tasks of the Fund

a) Receive, manage, and utilize state budget allocations and other lawful sources as stipulated in this Decree and other related regulations concerning the Fund's operations;

b) Provide financial support to enterprises in accordance with the eligible entities, conditions, content, and support levels specified in this Decree;

c) Implement reporting regimes, financial management, accounting, auditing, and other regulations related to the Fund’s operations as specified in this Decree and other relevant laws.

3. Powers of the Fund

a) Organize activities consistent with the objectives and scope of the Fund's operations;

b) Hire organizations, experts, scientists, and other individuals to assist in performing the Fund's tasks;

c) Financial resources outside the state budget of the Fund may be deposited at commercial banks or the State Treasury.

4. The Fund is exempt from corporate income tax on its revenues.

Article 10. Organizational structure of the Fund's management

The organizational structure of the Fund includes:

1. The Fund Management Council.

2. The Fund Executive Agency.

Article 11. Organization and authority of the Fund Management Council

1. The Fund Management Council is established by decision of the Prime Minister, with a term of five years and subject to reappointment.

2. The Fund Management Council consists of the Chairperson, Vice Chairpersons, and Council members. The structure and organization of the Council are implemented according to the Prime Minister's decision.

3. The Fund Management Council has the following tasks and powers, in addition to those stipulated by the Prime Minister:

a) Decide on the Fund's five-year and annual operational strategies and plans;

b) Issue operational regulations of the Fund in compliance with this Decree;

c) Approve the Fund's annual financial plans;

d) Report to the Government for approval of the total cost support level for enterprises based on socio-economic development orientations, periodic investment attraction, and annual state budget balancing capabilities; accordingly, allocate cost support plans to localities for implementation and submit them to the State Treasury for expenditure control;

dd) Approve periodic reports and financial statements of the Fund;

e) Monitor and inspect the Fund Executive Agency’s adherence to legal regulations and implementation of the Council's resolutions and decisions;

g) Issue investment support decisions for enterprises not yet operational and those eligible for initial investment cost support as stipulated in Section 2, Chapter III of this Decree.

h) Perform other tasks and powers as decided by the Prime Minister.

4. Meetings of the Fund Management Council are deemed valid when at least 50% of the members (including proxies) are present, chaired by the Chairperson or an authorized Vice Chairperson. Council members must not miss more than two consecutive meetings. Meeting minutes must be recorded, signed by the meeting chair, and stamped. These minutes serve as the basis for issuing resolutions, decisions, and other Council documents.

5. The Fund Management Council may invite representatives from relevant agencies and organizations to attend its meetings when necessary. These representatives may provide opinions but do not have voting rights.

6. The Fund Management Council operates collectively under the direction of the Chairperson. Conclusions are reached by majority consensus unless specified otherwise in Clause 7 of this Article. If votes are tied, with 50% of the Council members (including those present and those voting in writing) in agreement, the decision shall be made based on the casting vote of the Council Chair or the authorized presiding officer.

7. Approval conclusions for reports submitted to the Prime Minister and Government on the total cost support for enterprises and support limits for localities must receive approval from at least two-thirds of the Fund Management Council members. Council members’ opinions can be expressed through voting during meetings or via written submissions to the Council.

If the report submitted to the Government on the total cost support for enterprises and support limits for localities does not achieve at least two-thirds approval from the Council members in two consecutive meetings but receives approval from at least 50% of the members, the Chairperson of the Fund Management Council shall report to the Prime Minister for consideration and decision on the report.

If the report submitted to the Government on the total cost support for enterprises and support limits for localities receives less than 50% approval from the Fund Management Council members in two consecutive meetings, the Chairperson of the Fund Management Council shall instruct the Fund's Executive Agency to notify the return of enterprises’ support request applications or report to the Prime Minister for consideration and decision.

Article 12. Responsibilities and powers of the Chairperson of the Fund Management Council

1. On behalf of the Fund Management Council, approve the Council’s quarterly and annual operational plans.

2. Sign documents within the Council’s authority on behalf of the Fund Management Council.

3. Decide on convening Council meetings and preside over the meetings.

4. Authorize a Vice Chairperson of the Council to convene and preside over Council meetings.

5. Direct the Fund Executive Agency to perform additional tasks to meet the Fund’s management requirements.

6. Organize the implementation of the Council's tasks.

7. Direct the Fund Executive Agency to carry out the Fund's duties.

8. Organize, directly supervise, and evaluate the results of the Fund’s strategic goals, operational plans, performance outcomes, the Fund Executive Agency, and the Director’s management and administration results.

9. Perform other responsibilities and powers as determined by the Prime Minister.

Article 13. Responsibilities and powers of the members of the Fund Management Council

1. Perform tasks as assigned or authorized by the Chairperson and be accountable to the Chairperson and the law for their delegated work.

2. Mobilize human resources, working facilities, and research facilities under their management to fulfill assigned tasks.

3. Fully attend Council meetings, provide opinions on matters under review and evaluation, and vote on the Council's conclusions. In exceptional cases where attendance is not possible, Council members must authorize a representative to attend the meeting and submit written opinions on matters for consideration.

4. Be accountable for their evaluations and voting opinions.

5. Perform other responsibilities and powers as determined by the Prime Minister.

Article 14. Organization and authority of the Fund Executive Agency

1. The Fund Executive Agency is the standing body of the Fund Management Council, established by decision of the Minister of Planning and Investment, and has the following tasks and powers:

a) Perform the duties of the Fund’s standing body as stipulated in this Decree;

b) Consolidate reports on investment support proposals from localities and evaluate applications for cost support of enterprises as prescribed in Point b, Clause 2, Article 29 of this Decree, to report to the Fund Management Council;

c) Implement resolutions and decisions of the Council;

d) Lead the evaluation of applications for cost support applications from enterprises not yet operational and enterprises eligible for initial investment cost support as stipulated in Section 2, Chapter III of this Decree.

dd) Carry out other tasks assigned by the Chairperson of the Council.

e) Prepare payment proposal applications as stipulated and submit them to the State Treasury.

2. The Fund Executive Agency comprises:

a) The Fund Director;

b) The Deputy Directors;

c) The Chief Accountant and several members who are officials, civil servants, and public employees of the Ministry of Planning and Investment, working concurrently and appointed by the Minister of Planning and Investment.

3. The Fund Director represents the Fund legally, acts as the Fund's account holder, and is responsible for organizing and managing the activities of the Executive Agency. The Director assigns tasks to Deputy Directors, the Chief Accountant, and other members of the Executive Agency to fulfill its functions and powers. The Director also signs reports, financial statements, and other documents within the Executive Agency’s authority.

4. Deputy Directors assist the Fund Director and perform tasks assigned or authorized by the Director.

5. The Chief Accountant performs tasks as assigned by the Fund Director and is responsible for accounting, financial reporting, and the Fund's financial statements in accordance with the law and this Decree.

6. Members of the Executive Agency perform tasks as assigned by the Fund Director.

Chapter III

INVESTMENT SUPPORT POLICIES

Section 1. COST SUPPORT

Article 15. Method of cost support

The Fund provides direct financial support for cost items as stipulated in Clause 1, Article 16 of this Decree.

Article 16. Cost items and regulated entities eligible for cost support

1. Cost items eligible for support from the Fund include:

a) Training and human resource development costs;

b) Research and development costs;

c) Costs for investing in fixed assets;

d) Costs for producing high-tech products;

dd) Costs for investing in social infrastructure facilities;

e) Other cases as decided by the Government.

2. Regulated entities eligible for cost support include:

a) High-tech enterprises;

b) Enterprises with projects for manufacturing high-tech products;

c) Enterprises with high-tech application projects;

d) Enterprises with projects for research and development centers.

Article 17. Projects for manufacturing high-tech products

1. Criteria for identifying projects for manufacturing high-tech products shall be implemented as guided by the Minister of Science and Technology.

2. Procedures for certifying projects for manufacturing high-tech products) Application includes:

Application form for issuance of a Certificate of high-tech product manufacturing project as guided by the Minister of Science and Technology;

A copy of the Certificate of business registration or Certificate of investment registration;

A project explanation report by the enterprise that meets the criteria specified in Clause 1 of this Article as guided by the Minister of Science and Technology.

The application for issuance of certificate must be prepared in Vietnamese, in two sets, and submitted directly or via postal service to the Ministry of Science and Technology.

b) Procedures for issuance of Certificate of high-tech product manufacturing project

Within five working days from the receipt of the application, the Ministry of Science and Technology shall review the completeness and validity of the application;

If the application is incomplete or invalid, the Ministry of Science and Technology must issue a written request for supplementation and completion to the enterprise, either directly or via postal service, within five working days. The enterprise must supplement and complete the application within 10 working days from the date of receiving the request. If the enterprise fails to supplement, complete, or meet the requirements within the specified period, the Ministry shall issue a written rejection of the certificate to the enterprise;

Within 30 working days from the receipt of a complete and valid application, the Minister of Science and Technology shall establish an advisory council for application appraisal and organize the appraisal. Appraisal funding shall be sourced from the scientific and technological career fund managed by the Ministry of Science and Technology. The composition and operation of the advisory council shall follow the guidance of the Minister of Science and Technology.

Within 15 working days from the conclusion of the appraisal council, the Minister of Science and Technology shall issue the certificate and send it to the enterprise. If the certification is denied, the reasons must be communicated in writing to the enterprise;

The form of Certificate of high-tech product manufacturing project shall follow the guidance of the Minister of Science and Technology.

c) Certificate withdrawal occurs in the following cases:

The project does not operate within 12 months from the date of certificate issuance;

Falsification of documents in the certificate application;

Violations of prohibited acts specified in Article 8 of the Law on High Technology;

During operation, the project fails to meet the requirements of this Decree;

Upon decisions or recommendations from competent authorities regarding violations of the law by the enterprise during operation.

3. The Minister of Science and Technology has the authority to issue and revoke the Certificate of high-tech product manufacturing project.

4. The Certificate of high-tech product manufacturing project is effective from the date of issuance and remains valid until the project concludes.

Article 18. Criteria and conditions for cost support

1. Enterprises eligible for cost support as specified in Points a, b, and c, Clause 2, Article 16 of this Decree must meet one of the following conditions:

a) High-tech enterprises with projects having a minimum capital scale of 12,000 billion VND or achieving a minimum project revenue of 20,000 billion VND per year;

b) Enterprises with projects for manufacturing high-tech products or applying high technology with a minimum project capital scale of 12,000 billion VND or achieving a minimum project revenue of 20,000 billion VND per year;

c) High-tech enterprises or enterprises with projects in high-tech product manufacturing, high-tech application, or industries such as chip production, semiconductor integrated circuits, and artificial intelligence data centers with a minimum project capital scale of 6,000 billion VND or achieving a minimum project revenue of 10,000 billion VND per year;

d) High-tech enterprises, or enterprises with projects for manufacturing high-tech products or high-tech applications, whose technologies or products fall within the list of breakthrough high technologies and high-tech products prioritized for research and development issued by the Prime Minister, are not required to meet the capital or revenue criteria specified in this Decree;

dd) Enterprises with microchip design projects are not required to meet the capital or revenue criteria specified in this Decree but must commit to employing at least 300 Vietnamese engineers and managers within five years of operation in Vietnam and annually supporting the training of at least 30 high-quality engineers in microchip design for Vietnam.

2. Enterprises eligible for support under investment capital scale conditions as specified in Points a, b, and c, Clause 1 of this Article must meet or commit to the following capital disbursement conditions:

a) For projects granted Certificates of investment registration, Decisions on investment policy approval, or Decisions on investor approval from the effective date of this Decree, the project must disburse a minimum of 12,000 billion VND within five years or 10,000 billion VND within three years from the date of the initial issuance of the Certificate of investment registration, Decision on investment policy approval, or Decision on investor approval.

In cases of investment in the fields of chip manufacturing, semiconductor integrated circuits, or artificial intelligence data centers, a minimum disbursement of VND 6,000 billion must be completed within 5 years, or VND 4,000 billion within 3 years, from the date of initial issuance of the Decision on investment policy approval, Decision on investor approval, or Certificate of investment registration.

b) For projects with registered capital below the minimum of 12,000 billion VND before the effective date of this Decree and subsequently adjusted to meet the minimum capital requirement of 12,000 billion VND (or 6,000 billion VND for chip production, semiconductor integrated circuits, and artificial intelligence data centers):

For adjustments increasing capital by less than 10,000 billion VND, the total project investment must disburse a minimum of 10,000 billion VND within three years from the date of the adjustment of Decision on investment policy approval or Certificate of investment registration.

For adjustments increasing capital by 10,000 billion VND or more, the total project investment must disburse a minimum of 12,000 billion VND within five years from the date of the adjustment of Decision on investment policy approval or Certificate of investment registration.

For projects in chip production, semiconductor integrated circuits, and artificial intelligence data centers: if the adjusted capital increase is less than 4,000 billion VND, the total project investment must disburse a minimum of 4,000 billion VND within three years from the adjustment date of Decision on investment policy approval or Certificate of investment registration; if the adjusted capital increase is 4,000 billion VND or more, the total project investment must disburse a minimum of 6,000 billion VND within five years from the adjustment date of Decision on investment policy approval or Certificate of investment registration.

c) For projects with registered investment capital of at least 12,000 billion VND (or 6,000 billion VND for chip production, semiconductor integrated circuits, and artificial intelligence data centers) under Certificate of investment,

Certificate of investment registration, Decision on investment policy approval, Decision on investor approval or other equivalent legal documents issued before the effective date of this Decree but not yet fully disbursed, the disbursement timeline shall follow the issued documents or must achieve a minimum of 12,000 billion VND (or 6,000 billion VND for specified industries) within five years from the date of the initial issuance or the latest capital adjustment before the effective date of this Decree;

d) For projects with registered investment capital of at least 12,000 billion VND (or 6,000 billion VND for chip production, semiconductor integrated circuits, and artificial intelligence data centers) under Certificate of investment, Certificate of investment registration, Decision on investment policy approval, or other equivalent legal documents issued or adjusted before the effective date of this Decree, and for which disbursement has been completed prior to the effective date of this Decree, the projects are eligible for cost support as specified in Clause 1, Article 16 of this Decree.

3. Enterprises eligible for support under the revenue conditions specified in Points a, b, and c, Clause 1 of this Article must meet the revenue requirements of high-tech enterprises, high-tech application projects, or high-tech product manufacturing projects during the financial year for which support is requested. Revenue from projects eligible for support under this Decree must be accounted for separately.

4. Enterprises specified in Clause 2, Article 16 of this Decree must not have overdue tax debts or overdue obligations to the state budget at the time of application submission.

5. The determination of high-tech enterprises, high-tech product manufacturing projects, and high-tech application projects shall comply with the provisions of the law on high technology and the regulations of this Decree.

6. Research and development center projects of enterprises specified in Point d, Clause 2, Article 16 must meet the following conditions:

a) The enterprise’s research and development center must be established and registered as a scientific and technological organization under the law on science and technology;

b) The center must engage in scientific and technological activities, including research and development aimed at creating high technologies in the List of high technologies prioritized for investment and development, and high-tech products in the List of high-tech products prioritized for development issued under the Prime Minister's decision;

c) The center must have a minimum investment capital scale of 3,000 billion VND and must disburse at least 1,000 billion VND within three years from the date of issuance of Decision on investment policy approval, Decision on investor approval, or other equivalent legal document.

Article 19. Support for training and human resource development costs

Enterprises eligible for cost support as specified in Clause 2, Article 16 and meeting the criteria and conditions for cost support specified in Article 18 of this Decree are entitled to receive support for training and human resource development costs as follows:

1. Support levels:

a) Up to 50% of the actual costs incurred during the financial year for training and developing the workforce, specifically Vietnamese employees;

b) Ensuring compliance with the principles specified in Article 27 of this Decree.

2. Training and human resource development costs eligible for support include:

a) Costs for training, including long-term or short-term training domestically or abroad;

b) Training support costs;

c) Other costs for training and human resource development;

d) Salaries for Vietnamese engineers and management personnel;

dd) Costs for implementing training programs, research, and business incubation for Vietnam at universities, innovation centers, and enterprises.

Article 20. Support for research and development (R&D) costs

Enterprises eligible for cost support as specified in Clause 2, Article 16, and meeting the criteria and conditions for cost support under Article 18 of this Decree are entitled to R&D cost support as follows:

1. Support levels:

a) Annual support is provided based on the following rates for project costs incurred during the financial year and actually spent on R&D activities;

b) Ensuring compliance with the principles specified in Article 27 of this Decree.

Annual R&D cost support is calculated progressively by tier for each subject, with the following rates:

2. Calculation of R&D cost support:

The amount of support is the total amount calculated for each tier. The support amount for each tier is determined by multiplying the R&D costs within the tier by the corresponding support rate for that tier.

3. R&D costs eligible for support include:

a) Annual recurrent expenses for R&D activities;

b) Costs for training, providing equipment and machinery, and funding state management agencies, scientific and technological organizations, and educational institutions in Vietnam. These costs exclude training costs already supported under Article 19 of this Decree;

c) Costs for collaborative R&D or funding organizations and individuals undertaking R&D projects for the enterprise;

d) Fees for royalties, transfer of ownership, and usage rights for industrial property objects serving R&D activities; fees for registration and protection of patents or utility solutions in Vietnam; and royalties or license fees under high-tech transfer contracts applied in high-tech application projects certified by competent authorities (except where registration is not required under technology transfer laws);

dd) Depreciation costs for infrastructure and fixed assets for R&D activities;

e) Costs for leasing data center capacity and technology infrastructure provided by enterprises in Vietnam;

g) Other costs related to R&D activities.

Article 21. Support for fixed asset investment costs

Enterprises eligible for cost support as specified in Clause 2, Article 16, and meeting the criteria and conditions under Article 18 of this Decree are entitled to support for fixed asset investment costs as follows:

1. Enterprises are supported for fixed asset investment costs at the rates specified in Clause 4 of this Article, calculated based on the original cost of fixed assets actually added during the financial year for which support is requested.

2. Support levels:

a) Calculated according to Clause 4 of this Article, with the maximum annual support not exceeding 0.5% of the total investment capital specified in the Decision on investment policy approval or Certificate of investment registration for projects meeting the criteria and conditions for cost support as defined in Article 18 of this Decree;

b) Ensure compliance with the principles specified in Article 27 of this Decree.

3. Fixed assets eligible for support must meet the following conditions:

a) Commitment to use for the enterprise’s high-tech production, application, or business activities for at least three consecutive years from the year the fixed asset is put into use;

b) Prohibited from being sold, transferred, or assigned to other organizations or enterprises within three years from the year the fixed asset is put into use.

4. Annual fixed asset investment cost support is calculated progressively by tier, with support rates as follows:

5. The calculation of support for fixed asset investment costs shall follow the provisions of Clause 2, Article 20 of this Decree.

Article 22. Support for high-tech product manufacturing costs

Enterprises eligible for cost support as specified in Clause 2, Article 16, and meeting the criteria and conditions under Article 18 of this Decree are entitled to support for high-tech product manufacturing costs as follows:

1. Enterprises are provided annual support for high-tech product manufacturing costs at the following rates, calculated on the value-added production of high-tech products:

a) Enterprises specified in Points a and c, Clause 2, Article 16, are supported 1% of the value-added production of high-tech products during the financial year. Enterprises may receive up to 3% of the value-added production of high-tech products during the financial year if they meet one of the following conditions:

Revenue of at least 200,000 billion VND, a workforce of at least 10,000 employees, and a value-added production ratio of high-tech products of at least 30%;

Enterprises operate in the fields of chip production, semiconductor integrated circuits, and artificial intelligence data centers.

b) Enterprises specified in Point b, Clause 2, Article 16, are supported 0.5% of the value-added production of high-tech products during the financial year. Enterprises may receive 1% of the value-added production of high-tech products during the financial year if they simultaneously meet all the following conditions:

Revenue of at least 200,000 billion VND, a workforce of at least 10,000 employees, and a value-added production of high-tech products of at least 30%.

c) Ensure compliance with the principles specified in Article 27 of this Decree.

2. High-tech products covered under this Article include those listed in the List of high-tech products encouraged for development as stipulated in the Law on High Technology and relevant guiding documents.

Article 23. Support for social infrastructure investment costs

Enterprises eligible for cost support as specified in Clause 2, Article 16, and meeting the criteria and conditions under Article 18 of this Decree are entitled to support for social infrastructure investment costs as follows:

1. Enterprises are eligible for support of up to 25% of actual costs incurred during the financial year for the construction of social infrastructure as specified in Clause 2 of this Article, ensuring compliance with the principles outlined in Article 27 of this Decree.

2. Social infrastructure includes facilities that directly serve the employees of enterprises eligible for support under this Decree, such as worker rental housing, schools, daycare centers, healthcare facilities, cultural centers, and sports facilities.

Section 2. INITIAL INVESTMENT COST SUPPORT

Article 24. Entities eligible for initial investment cost support

Entities eligible for initial investment cost support are enterprises with projects for research and development centers in the semiconductor and artificial intelligence industries.

Article 25. Criteria and conditions for initial investment cost support

1. Enterprises specified in Article 24 of this Decree must not have overdue tax debts or outstanding obligations to the state budget at the time of application submission and must meet the conditions outlined in Points a, b, and c, Clause 6, Article 18 of this Decree.

2. Projects for research and development centers must positively contribute to the innovation ecosystem and foster the development of groundbreaking technologies and products for the country.

Article 26. Levels of initial investment cost support

1. Enterprises specified in Article 24 of this Decree are eligible for support of up to 50% of the initial investment costs of the project, ensuring compliance with the principles outlined in Article 27 of this Decree.

2. The Government may consider and decide on a support level different from the provisions of Clause 1 of this Article.

Chapter IV

APPLICATIONS, PROCEDURES, AND CONTENT OF COST SUPPORT EVALUATION

Article 27. Principles for reviewing cost support applications

1. The Fund provides cost support to enterprises that meet the conditions specified in this Decree.

2. The Fund's support for enterprises must not exceed the financial resources of the Fund as stipulated in Article 35 of this Decree.

3. Based on cost support proposals submitted by the province-level People’s Committee and enterprises, and the Fund’s projected financial balance for the fiscal year, the Fund Management Council evaluates and reports to the Government for consideration and decision on the total cost support level for enterprises. This evaluation is based on socio-economic development orientations, investment attraction goals for each period, and the Fund's budget.

4. The province-level People’s Committee and the Fund Management Council, within their authority as stipulated in this Decree, decide on the support amount for each enterprise within the allocated budget.

Article 28. Application for cost support

Applications for cost support for enterprises eligible under Clause 2, Article 16, must include:

1. An application form for cost support.

2. A valid copy of the Decision on investment policy approval, Certificate of investment registration (if applicable), or other equivalent legal documents.

3. A valid copy of one of the following documents: Certificate of high-tech enterprise, Certificate of high-tech application, Certificate of a newly established enterprise from a high-tech product manufacturing project, Certificate of high-tech product manufacturing project, or Certificate of research and development center project or a written confirmation by a competent authority before the Law on High Technology came into effect, recognizing the enterprise's high-tech status.

For enterprises with projects in high-tech zones, submission of the documents specified in this clause is not required.

4. A project implementation report for the period of cost support, as required by investment laws.

5. A copy of the audited financial report for the year of cost support. The audit must be conducted by an independent auditor listed as approved by the State Securities Commission for public interest entities in the securities sector in the year preceding the financial report. The cost report for support must be audited and include a detailed cost breakdown as per this Decree. All requested support costs must have lawful invoices and supporting documents stored by the enterprise in accordance with accounting laws.

6. A valid copy of the results of periodic inspections of entities with the following certificates: Certificate of high-tech enterprise, Certificate of high-tech application, Certificate of a newly established enterprise from a high-tech product manufacturing project, Certificate of high-tech product manufacturing project, or Certificate of research and development center project or Certificate of technology transfer registration (if cost support is requested under Point d, Clause 3, Article 30 of this Decree).

If, at the time of application submission as stipulated in Article 30 of this Decree, the enterprise has not yet undergone a periodic inspection, it must supplement the inspection results by January 15 of the calendar year following the application submission year.

For enterprises recognized as high-tech by a competent authority before the Law on High Technology took effect, the submission of these documents is not required.

7. A list of employees currently employed by the enterprise, accompanied by original or valid copies of documents confirming employee participation in insurance as issued by the insurance authority.

8. An original or valid copy of a document from the tax authority confirming that the enterprise has fulfilled its tax obligations.

9. A written commitment to comply with the cost support principles outlined in Articles 3 and 4 of this Decree and to waive international arbitration rights (if applicable) related to cost support activities under this Decree.

10. Any other relevant documents required by law (if applicable).

Article 29. Content of cost support evaluation requests

1. The content of evaluating cost support applications includes:

a) Assessment of compliance with the criteria and conditions for eligible entities;

b) Assessment of compliance with the principles of support policy application;

c) Evaluation of criteria meeting the conditions to determine the level of cost support;

d) Assessment of the compatibility between the cost support applied by the enterprise and the cost support categories specified in this Decree;

dd) Assessment of the project’s investment capital disbursement commitments;

e) Assessment of labor utilization, compliance with social insurance contributions for employees, and fulfillment of the enterprise’s tax obligations;

g) Assessment of the enterprise’s compliance with other commitments required to qualify for support under this Decree.

2. Agencies receiving and processing cost support applications:

a) For enterprises with operational production and business projects: submit the application for cost support to the Economic Zone, Industrial Park, or High-Tech Park Management Board (for projects in economic zones, industrial parks, or high-tech parks) or the province-level Department of Planning and Investment (for projects outside these zones). The receiving agency evaluates the enterprise’s cost support application and reports to the province-level People’s Committee for review and decision;

b) For enterprises not yet operational and those eligible for initial investment cost support under Section 2, Chapter III of this Decree: submit the application to the Ministry of Planning and Investment. The Fund Executive Agency serves as the receiving and processing agency, presiding over the evaluation of the enterprise’s cost support application.

Article 30. Procedures for evaluating cost support applications

1. Enterprises must submit 8 sets of applications for cost support (including one original application) directly to the administrative procedure receiving and result-returning division of the receiving agency or via postal services before July 10 of the year following the financial year for which support is requested.

2. If the application is incomplete or unclear, within 5 working days receiving the application, the receiving agency must notify the enterprise of required amendments, additional documents, or rejection, providing detailed reasons. Enterprises must make the required amendments or supplements within 10 days.

3. Within 3 working days from receiving a complete application, the receiving agency sends the application to the relevant departments or ministries for input on the content specified in Clause 1, Article 29 of this Decree. If necessary, the receiving agency may seek input from other related agencies.

4. Agencies consulted must provide their input within 15 days from receiving the application on matters within their regulatory scope and send it to the receiving agency.

5. If consulted agencies require explanations, the receiving agency consolidates these requests and forwards them to the enterprise within 3 working days. Enterprises must provide explanations, additional documents, or revised cost support applications (if applicable) within 30 days from receiving the request.

6. Based on all enterprise cost support applications, input from consulted agencies, and any enterprise explanations, the receiving agency prepares an evaluation report of the cost support applications, addressing the content specified in Clause 1, Article 29 of this Decree.

7. For cases specified in Point a, Clause 2, Article 29 of this Decree, the province-level People’s Committee must consolidate enterprises' investment support requests and report to the Fund Executive Agency by October 1 of each year at the latest.

8. The Fund Executive Agency consolidates and prepares an evaluation report on enterprises' cost support applications received by the agency and investment support proposals submitted by the province-level People’s Committee, submitting them to the Fund Management Council by October 15 of each year at the latest.

9. Within 15 days of receiving the submission from the Fund Executive Agency, the Fund Management Council evaluates and reports to the Government for consideration and decision on the total cost support for enterprises, based on the principles outlined in Article 27 of this Decree.

10. The procedure for disbursing cost support is implemented as specified in Clause 2, Article 39 of this Decree.

Article 31. Content of investment support decisions

The written decision on investment support for enterprises includes the following:

1. Information about the enterprise receiving support.

2. The financial year in which the costs eligible for support were incurred.

3. Categories of cost support and the corresponding amount.

4. The method of cost support disbursement.

5. Commitments to fulfill the conditions for receiving support as stipulated in this Decree.

Article 32. Selection of consultants for evaluating cost support applications

1. Where consultants are required to evaluate cost support applications, the Fund Management Council or the province-level People’s Committee may hire qualified and experienced consultants as stipulated by law.

2. The process and procedures for selecting consultants shall comply with the provisions of the law on bidding.

Article 33. Applications, procedures, and evaluation of initial investment cost support applications

1. The application for initial investment cost support includes:

a) An application form for cost support;

b) A certified copy of the Decision on investment policy approval, Certificate of investment registration (if applicable), or other equivalent legal documents;

c) The original or a certified copy of a tax clearance certificate issued by the enterprise's direct tax management authority, except for newly established enterprises implementing a project;

d) Documents identifying initial investment costs;

dd) A written commitment to comply with the principles outlined in this Decree;

e) Other relevant documents as required by law (if applicable).

2. The procedures for evaluating initial investment cost support applications follow the provisions of Article 30 of this Decree.

Article 34. Disbursement progress of initial investment cost support and enterprise commitments

1. Enterprises must propose a disbursement schedule for initial investment cost support in their applications, choosing between a lump-sum disbursement or annual disbursements over several years.

2. Enterprises receiving initial investment cost support must operate their research and development centers in accordance with the approved project, meeting the criteria and conditions specified in Article 24 of this Decree and the commitments made with the State of Vietnam.

3. Enterprises that fail to meet the conditions and commitments outlined in Clause 2 of this Article while implementing the R&D center project must reimburse the support funds to the State of Vietnam following the principles in Article 4 of this Decree.

4. At the end of each financial year, enterprises must report on the implementation of the commitments made to receive support. Reports must be submitted to the province-level People’s Committee where the enterprise is headquartered and the Fund Executive Agency.

Chapter V

FINANCIAL MANAGEMENT AND SUPERVISION

Article 35. Financial resources of the Fund

1. Central budget resources include:

a) Development investment expenditures as specified in Point c, Clause 1, Article 36 of the Law on State Budget (corresponding to the additional corporate income tax revenues under Global Anti-Base Erosion (GloBE) Rules);

b) Additional central budget resources based on balance capabilities;

2. Non-budgetary resources include:

a) Contributions, aid, and sponsorships from domestic and foreign organizations, enterprises, individuals, and other lawful sources;

b) Interest earned from deposit accounts.

3. Annual Fund surplus resources.

Article 36. Expenditure tasks of the Fund

1. Cost support for enterprises in accordance with the provisions of this Decree.

2. Expenditures for Fund management activities, including:

a) Allowances for part-time personnel as stipulated;

b) Conference expenses;

c) Travel expenses;

d) Office supplies and document printing;

dd) Expenses for hiring organizations, experts, scientists, and other individuals;

e) Expenses for purchasing and outsourcing goods and services;

g) Transportation costs;

h) Consultancy evaluation costs;

i) Other expenses.

The budget for Fund management activities is included in the recurrent expenditure estimates of the Ministry of Planning and Investment.

Article 37. Financial planning for the Fund

1. Annually, at the time of preparing the State Budget estimate in accordance with the Law on State Budget, the Fund Director prepares the financial plan of the Fund based on the performance of the previous year, projected tasks for the plan year, and submits it to the Fund Management Council for review and approval. The plan includes:

a) Evaluation of financial revenue and expenditure results for the current year, including: receipt of state budget allocations; interest earned from the fund’s deposits; mobilization of other lawful revenues; fund expenditure on cost support and projected fund balance at the end of the current year, including remaining budgetary resources and deposit account balances at commercial banks;

b) Projected revenue from non-budgetary sources as specified in Clause 2, Article 35 of this Decree;

c) Projected additional corporate income tax revenue under global anti-base erosion regulations;

d) Projected expenditures for the budget year, including cost support for enterprises and Fund operation expenses.

2. Based on the approval of the Fund Management Council, the Fund Director shall submit the Fund's financial plan to the budget planning unit of the Ministry of Planning and Investment for preparation in accordance with the provisions of the Law on State Budget. This financial plan shall be consolidated into the Ministry of Planning and Investment's annual state budget estimate. The Ministry of Planning and Investment shall then submit it to the Ministry of Finance for inclusion in the central budget expenditure estimate, to be reviewed and decided by the competent authorities in accordance with the law on state budget.

3. The Prime Minister assigns the annual development investment expenditure and recurring expenditure estimates of the Fund as part of the Ministry of Planning and Investment’s annual state budget estimate.

4. Based on the budget estimates assigned by the Prime Minister, the Minister of Planning and Investment allocates and assigns the estimates to the Fund for implementation, detailing the cost support estimates for enterprises and the management expenditure estimates of the Fund.

Article 38. Preparation and allocation of the Fund's annual state budget estimate

1. For the 2025 and 2026 state budget estimates for the Fund, based on expenditure needs and budget balance capacity, the Government reports to competent authorities for state budget allocation for the Ministry of Planning and Investment to allocate to the Fund.

2. From 2027 onward, the state budget estimates for the Fund are built on the following bases:

a) Actual state budget revenues from 2025 and subsequent years, sourced from additional corporate income tax revenues under global anti-base erosion regulations. The Ministry of Finance determines the budget revenue estimates under this point;

b) Projected non-budgetary resources (if any);

c) Projected Fund expenditures for the budget year.

3. If the Fund's financial resources are insufficient to ensure enterprise cost support as stipulated in this Decree for the budget year, the Ministry of Planning and Investment consolidates and submits a report to the Ministry of Finance, which then reports to the Prime Minister and the Government for competent authorities to consider supplementing the annual budget estimate or deciding on additional budget allocation following the principles specified in Article 39 of this Decree.

Article 39. Principles for managing allocated state budgets and the cost support disbursement process

1. Principles for managing allocated state budgets

a) Cost support for enterprises must remain within the allocated budget limits;

b) If the Fund’s annual financial resources are insufficient to support eligible projects not yet operational, state budget resources from public investment plans may be considered for support. Public investment plans for the Fund, both medium-term and annual, must comply with the Public Investment Law.

Based on the support needs of eligible projects as stipulated in this Decree, the Ministry of Planning and Investment consolidates and submits proposals to competent authorities for consideration and decision on supplementing the medium-term and annual public investment plans funded by the state budget.

2. Cost support disbursement process for enterprises

a) Based on the Government's approval document specifying the total cost support level, the Fund's Executive Agency sends a notification of the support limits to the province-level People’s Committees proposing cost support for enterprises as specified in Point a, Clause 2, Article 29 of this Decree. Simultaneously, notifications of the support limits are sent to the State Treasury;

b) Based on the approved support limit notification, the province-level People’s Committee verifies and cross-checks the documents, performs the procedures in accordance with the laws on state budgets, and issues a decision on investment support for eligible enterprises. The decision is then sent to the Investment Support Fund;

c) Based on the support limit for each locality and the decision on investment support for enterprises, the Investment Support Fund prepares payment documentation and submits it to the State Treasury at the relevant transaction office for cost support disbursement, as stipulated;

d) The State Treasury disburses cost support funds to enterprises within three working days from the date of receipt of complete documentation as prescribed;

dd) Documentation submitted to the State Treasury for disbursing support funds from the state budget includes: The approved annual support limit notification for the locality (original); the investment support decision for enterprises; the Budget Withdrawal Slip (Form 16a1 issued with Decree No. 11/2020/ND-CP dated January 20, 2020, by the Government) (two original copies). For cases where documentation is submitted via the State Treasury's Public Service Portal, all components of the documentation must be digitally signed as per transaction regulations outlined in Decree No. 11/2020/ND-CP ;

e) For cases specified in Point b, Clause 2, Article 29, the Fund's Executive Agency verifies and cross-checks the documents, performs the procedures as required by the laws on state budgets, and submits to the Fund Management Council a decision on investment support for eligible enterprises. Payment documentation is then prepared and submitted to the State Treasury for disbursing investment support to enterprises.

3. Handling surpluses and shortages

a) In the event of a funding shortage during the year, it will be addressed as prescribed in Clause 3, Article 38 of this Decree;

b) At the end of the fiscal year, any surplus in the budget allocated to the Fund will be carried forward as stipulated by the Law on State Budget and the Public Investment Law;

c) By February 10 of the following year, the budget-using unit must reconcile the budget surplus and advances with the State Treasury at the transaction office as a basis for carrying forward the balance to the next year.

Article 40. Management of Fund accounts opened at commercial banks

1. The Fund accounts opened at commercial banks, as stipulated in Clause 3, Article 8 of this Decree, are used to receive financial contributions as outlined in Point a, Clause 2, Article 35 of this Decree.

2. On the semi-annual basis, the Fund Director collaborates with the commercial bank holding the account to review and reconcile revenues from financial contributions specified in Point a, Clause 2, Article 35 of this Decree, revenues from interest on deposits (if any), and processes the transfer of all such revenues to the Fund’s deposit account at the State Treasury for centralized management.

Article 41. Accounting, bookkeeping, settlement, and financial reporting of the Fund

1. Accounting regulations:

a) The Fund performs revenue, expenditure, and accounting tasks in accordance with the laws on accounting, guidance from the Ministry of Finance, and other relevant regulations;

b) Revenues and expenditures of the Fund must be tightly managed, ensuring accuracy, transparency, and legality. Full documentation and evidence must be maintained as required by law and reflected in the accounting books in accordance with applicable accounting regulations and relevant laws;

c) The Fund must close its accounting books and prepare an annual financial statement to submit to competent authorities and relevant units as required. The annual financial statement must be submitted within 90 days from the end of the financial year.

2. Reporting obligations:

The Fund is responsible for reporting on revenue, expenditure, financial settlement, and financial disclosure to the Ministry of Finance. These reports will be consolidated into the Government's and National Assembly's documents on socio-economic and state budget matters.

3. Operating expenses for the Fund's Management Council, the Executive Agency, and allowances for the Chairperson, Vice Chairpersons, and members of the Management Council and Executive Agency will be accounted for as part of the Fund's operational expenses.

4. Financial settlement:

a) The settlement of the Fund's resources will be carried out in accordance with the laws on state budgets;

b) Any unused Fund budget and account balance at the end of the year will be carried forward to the next year for continued use.

Article 42. Inspection, auditing, and oversight

1. The Fund is subject to inspection, auditing, and oversight by state agencies as stipulated by law.

2. The Ministry of Planning and Investment oversees the Fund's operations concerning:

a) Preparation, management, utilization, and settlement of support funds;

b) Performance outcomes of the Fund;

c) Other oversight activities as required.

3. The province-level People’s Committee overseeing enterprises benefiting from the support is responsible for inspecting these enterprises from the date the cost support decision is issued. The scope of inspection includes:

a) Ensuring compliance with all conditions stipulated in Article 18 of this Decree;

b) Verifying adherence to all commitments made when receiving support as outlined in Articles 19, 20, 21, 22, 23, and 25 of this Decree.

Chapter VI

IMPLEMENTATION

Article 43. Responsibilities of central ministries, agencies, and local authorities

1. Ministry of Planning and Investment

a) Takes the lead in consolidating and allocating cost support in the annual central state budget development investment expenditures; consolidates the Fund's management expenditure estimates into the Ministry's recurrent expenditure estimates and submits them to the Ministry of Finance for inclusion in the central state budget allocation proposal for approval;

b) Collaborates with the Ministry of Finance, other ministries, agencies, and related entities to evaluate the support ratios stipulated in this Decree and proposes adjustments to the Government if necessary;

c) Provides guidance on receiving contributions, aid, and donations from domestic and foreign organizations, businesses, individuals, and other legal sources for the Fund;

d) Provides opinions on the Fund’s annual operational plans, periodic reports, and financial settlements;

dd) Evaluates the Fund's operational outcomes and the performance of its management;

e) Offers detailed guidance on the documentation and procedures outlined in Chapter IV of this Decree.

2. Ministry of Finance

a) Financial management, accounting, finalization, and financial disclosure of the Fund shall comply with the provisions of this Decree and applicable laws. In case of any issues, the Ministry of Finance shall take the lead in providing additional guidance;

b) Provide information related to the ability to collect additional corporate income tax under the global anti-base erosion rules to develop the annual cost support estimate allocated to the Fund; assess the central budget balancing capacity to supplement resources for the Fund's cost support activities;

c) Based on the proposal of the Ministry of Planning and Investment, the Ministry of Finance shall take the lead in balancing and allocating the annual central budget expenditure estimate to the Fund to support enterprise costs and fund management operations, as specified in this Decree.

3. Ministry of Science and Technology

a) Develop and submit to the Prime Minister for issuance the Decision on the List of Breakthrough High Technologies and High-Tech Products Prioritized for Research and Development, and the Decision on Research and Development Centers;

b) Specify details of the tasks assigned under this Decree.

4. Province-level People’s Committees

a) Take the lead in coordinating with relevant agencies to evaluate and appraise the cost support application dossiers of enterprises operating within the province, ensuring compliance with the target groups, conditions, content, and levels of support stipulated in this Decree;

b) Take the lead in coordinating with relevant agencies to compile, inspect, and supervise the implementation of investment support commitments by enterprises eligible for support under this Decree. Promptly address any violations in accordance with the provisions of this Decree and report to the Fund Management Body.

5. Other ministries, sectors, ministerial-level agencies, and relevant province-level People’s Committees shall be responsible for reviewing, evaluating, and providing opinions on cost support application dossiers within their functions and duties; and for inspecting and supervising the implementation of support within the scope of their functions and duties.

Article 44. Responsibilities of enterprises receiving support from the Fund

1. Utilize the support from the Fund in compliance with legal regulations.

2. Fulfill commitments after receiving support throughout the project implementation process.

3. Submit reports on the performance of commitments for the previous year to qualify for support by no later than January 31 of the following year.

4. Promptly, fully, accurately, and truthfully provide all information and documents related to the utilization of the Fund’s support. Enterprises are legally responsible for the accuracy, legality, and truthfulness of the information and documents submitted.

Article 45. Entry into force

1. This Decree comes into force from the date of signing and applies from the financial year 2024.

2. Ministers, heads of ministerial-level agencies, heads of government agencies, Chairpersons of the People’s Councils, Chairpersons of the People’s Committees of provinces and centrally run cities, and other relevant entities are responsible for implementing this Decree.

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