Chương XI Nghị định 29/2021/NĐ-CP: Điều khoản thi hành

DECREE

PRESCRIBING PROCEDURES FOR APPRAISAL OF PROJECTS OF NATIONAL SIGNIFICANCE, AND SUPERVISION AND ASSESSMENT OF INVESTMENT

Pursuant to the Law on Government Organization dated June 19, 2015; the Law on Amendments to the Law on Government Organization and Law on Local Government Organization dated November 22, 2019;

Pursuant to the Law on Public Investment dated June 13, 2019;

Pursuant to the Law on Construction dated June 18, 2014; the Law on Amendments to the Law on Construction dated June 17, 2020;

Pursuant to the Law on Law on Management and Use of State Capital Invested in Business Activities of Enterprises dated November 26, 2014;

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

Pursuant to the Law on Public – Private Partnership Investment dated June 18, 2020;

Pursuant to the Law on Bidding dated November 26, 2013;

At the request of the Minister of Planning and Investment;

The Government hereby promulgates a Decree to prescribe procedures for appraisal of projects of national significance, and supervision and assessment of investment.

Chapter I

GENERAL

Article 1. Scope

This Decree provides for:

1. Procedures for appraising and deciding investment guidelines, and deciding investment in projects of national significance as specified in the Law on Public Investment and Law on Construction; procedures for appraising and deciding investment guidelines, approving projects subject to decision on their investment guidelines by the National Assembly as specified in the Law on Public – Private Partnership Investment; procedures for appraising and approving investment guidelines of projects subject to approval for their investment guidelines by the National Assembly as specified in the Law on Investment.

2. Supervision and assessment of investment programs and projects, overall assessment and supervision by the public of investment in Vietnam and outward investment; cost of supervision and assessment of investment; entitlements and responsibilities of agencies, units, organizations and individuals involved in supervision and assessment of investment.

3. Regulations of law on securities shall apply to supervision and assessment of securities investment.

4. Supervision and assessment of investment programs/projects funded by official development aid (ODA) and concessional loans given by foreign sponsors shall comply with this Decree; differences due to the use of such capital sources shall comply with regulations of law on management and use of ODA and concessional loans given by foreign sponsors, and relevant international treaties.

Article 2. Regulated entities

This Decree applies to:

1. Organizations and individuals related to projects of national significance as specified in the Law on Public Investment and Law on Construction; projects subject to decision on their investment guidelines by the National Assembly as specified in the Law on Public – Private Partnership Investment; projects subject to approval for their investment guidelines by the National Assembly as specified in the Law on Investment.

2. Agencies, units, organizations and individuals responsible for supervision and assessment of investment, and agencies, units, organizations and individuals involved in supervision and assessment of investment.

Article 3. Definitions

For the purposes of this Decree, the terms below shall be construed as follows:

1. “investment supervision” means activities that involve investment monitoring and inspection. Investment supervision includes supervision of investment programs/projects and overall investment supervision.

2. “monitoring of investment program/project” means regular and periodic activities that involve update of information about progress of the project; consolidation, analysis and evaluation of information, proposal of plans serving the issuance of decisions by regulatory authorities in order to ensure the project’s adherence to its objectives and schedule, quality, and capacity of determined resources.

3. “investment program/project inspection” means periodic or ad hoc activities meant to inspect the conformity with regulations on project management of relevant organizations and individuals; promptly discover errors and weaknesses in project management as prescribed by law; request competent authorities to resolve difficulties that arise and deal with acts against regulations on project management; supervise the implementation of measures for resolving discovered issues.

4. “investment program/project assessment” means periodic or ad hoc activities meant to determine the extent of target accomplishment compared to the investment decision or assessment standards established by the state at a certain point of time. Investment program/project assessment includes: initial assessment, midterm assessment, terminal assessment, impact assessment, and ad hoc assessment.

5. “initial assessment” means assessment carried out right after the investment program/project is commenced in order to compare current developments of the project with that at the time of approval to take appropriate measures.

6. “midterm assessment” means assessment carried out in the middle of the approved schedule or after each stage (if the program/project is divided into multiple stages) in order to examine the progress of the program/project from the beginning and propose necessary changes.

7. “terminal assessment” means assessment carried out right after the completion of the investment program/project in order to examine the results and draw valuable lessons.

8. “impact assessment” means assessment carried out at an appropriate time after the third year from the day on which the program/project is put into operation in order to clarify the effectiveness, sustainability, and socio-economic impact compared to initial targets.

9. “ad hoc assessment” means assessment carried out upon occurrence of unexpected difficulties or impacts during the progress of the program/project.

10. “public supervision of investment” means voluntary activities of the residents within a commune, ward or town (hereinafter referred to as “commune”) meant to monitor, inspect the adherence to regulations on investment management of relevant entities during the investment process; discover and request competent authorities to deal with violations against regulations on investment (except for programs/projects classified as the state secret as prescribed by law).

11. “overall investment supervision” means regular monitoring and periodic inspection carried out as planned or extraordinarily during the investment process by regulatory bodies and local authorities in order to promptly discover and rectify misconducts and errors to ensure adherence to the planning, plan, targets, and ensure effectiveness.

12. “overall investment monitoring” means regular and periodic update of information about investment and management of investment by regulatory bodies and local authorities; consolidation, analysis, evaluation of information; proposal of mechanisms and policies related to investment management.

13. “overall investment inspection” means periodic or ad hoc activities by regulatory bodies meant to inspect the conformity with regulations on investment management; promptly discover and rectify errors and weaknesses; ensure conformity of investment management with regulations of law; discover and request competent authorities to deal with difficulties that arise or violations against regulations on investment management; supervise the implementation of measures for resolving discovered issues.

14. “overall investment assessment” means periodic activities meant to analyze and evaluate investment results of the whole economy, each sector, and each administrative division; determine the extent of achievement compared to the planning/plan in each stage or period; analyze the factors that affect investment result; propose solutions for raising investment effectiveness in the current or next period.

15. “component project of public investment program” means a group of related activities meant to achieve one or some specific targets of the program within a specific administrative provision, in a defined period of time, and based on determined resources.

16. “component project owner” means an agency or organization tasked with presiding over a component project of the public investment program.

17. “operator” means an agency or organization tasked with operating a project.

18. “investment project funded by other capital sources” means an investment project that are not funded by state budget.

19. “non-public investment state capital” means the state capital specified in the Law on Bidding 2013, exclusive of the public investment capital prescribed by the law on public investment.

20. “project of national significance” (hereinafter referred to as “PNS”) means a project of national significance specified in the Law on Public Investment and Law on Construction; project subject to decision on its investment guidelines by the National Assembly as specified in the Law on Public – Private Partnership Investment; project subject to approval for its investment guidelines by the National Assembly as specified in the Law on Investment.

Chapter II

ORGANIZATIONAL STRUCTURE AND MODALITY OF OPERATION OF STATE APPRAISAL COUNCIL

Article 4. Organizational structure, responsibilities and entitlements of the State Appraisal Council

1. The State Appraisal Council (hereinafter referred to as “the Council”) established under the Prime Minister's decision for specific projects shall be tasked with carrying out appraisal of PNS (pre-feasibility study report or feasibility study report) for submission to the National Assembly with a view to seeking its decision on investment guidelines or for reporting to the Prime Minister to apply for the investment decision. 

2. The Council is composed of the Chairperson, the Vice Chairperson and other members of the Council. The Chairperson of the Council is the Minister of Planning and Investment; the Vice Chairperson and other members of the Council are senior representatives of ministries and relevant agencies decided by the Prime Minister at the request of the Ministry of Planning and Investment.

3. The Chairperson, Vice Chairperson and members of the Council shall be held accountable to the Prime Minister for organizing appraisal and appraisal activities according to their assigned duties; giving the Council’s assessment opinions on appraisal results, conclusions and recommendations regarding assigned contents of PNS, and according to the Council’s operating regulations.

4. The Council is entitled to:

a) Consider and decide issues relating to work contents, programs and plans of the Council and other related matters during the process of appraisal of PNS;

b) Request project owners, investors or authority assigned to prepare investment to provide relevant documents during the process of appraising PNS, pay costs of inspection and appraisal according to the approved budget estimate and progress of appraisal contents;

c) Request the consultancy contractor (or relevant authority) to provide relevant documents during the process of inspecting and appraising PNS.

5. The Council shall work on a collective basis and shall be subject to the direction of the Chairperson of the Council. The meeting of the Council shall be considered valid if it is attended by at least 50% of members (including authorized persons). Conclusive opinions must be unanimously approved under the majority rule. In case of a tie and affirmative votes are cast by at least 50% of the members (including those making their presence at the meeting and those casting their votes by sending their documents to the Council), the issue shall be passed by the Chairperson's casting his deciding vote.

The final resolution in which appraisal contents of PNS are passed for submission to the Government and the Prime Minister must be voted for by at least 2/3 of the Council’s membership. Opinions obtained from members of the Council shall be delivered by voting at the meeting or in writing to the Council.

6. The Council shall be automatically dissolved after all stipulated appraisal duties have been completed.

Article 5. Responsibilities and entitlements of the Council

1. Consider approving the appraisal plan after receiving opinions from the Council, decide to convene the Council’s meetings, preside over such meetings; assign responsibilities to the Vice Chairperson and members of the Council.

2. Decide to establish the interdisciplinary Appraisal Expert Group depending on work duties in specific PNS.

3. Where necessary, the Council’s Chairperson may authorize one Vice Chairperson to convene and preside over the Council’s meetings or report to the Government on certain contents or work duties directly undertaken by the Vice Chairperson.

4. Decide to hire and select a consultant in inspection of PNS in accordance with regulations laid down in Articles 10 and 11 hereof.

Article 6. Responsibilities and entitlements of the Council’s Vice Chairperson

1. Assist the Council’s Chairperson in directing operations of the Council; monitor and perform duties of the Council assigned by the Council's Chairperson; regularly make a review report on the Council's performance.

2. Assist the Council’s Chairperson in reviewing and assessing reports on specialized matters and the Council's other activities for submission to the Prime Minister.

Article 7. Responsibilities and entitlements of the Council’s members

1. Consider opinions as to contents of appraisal of PNS related to the fields within the jurisdiction of Ministries, agencies and localities under their management and as to general matters of PNS according to the Council’s appraisal plan.

2. Mobilize workforce, working equipment and research facilities under their management to fulfill their assigned duties.

3. Fully participate in the Council’s meetings, exchange contributed opinions as to contents of review and appraisal as well as cast their votes for the Council’s conclusions. In some special cases, where it is impossible to participate in a meeting, a Council member must authorize a competent representative to participate in the Council’s meeting and give his/her written opinions as to contents about which opinions are sought.

4. Take responsibility for their appraisal opinions and votes.

Article 8. Duties of the standing body of the Council

The standing body of the Council is the Ministry of Planning and Investment assigned the following duties:

1. Rally the Ministry’s machinery to assist the Council’s Chairperson in carrying out appraisal of PNS and general operations of the Council; cooperate with relevant agencies, interdisciplinary Appraisal Expert Group and Inspection Consultancy Group to perform appraisal tasks.

2. Receive and examine project dossiers, and deliver them to the Council’s members, agencies and units involved.

3. Draw up a plan for appraisal of PNS by adopting the form stipulated in Appendix issued together with this Decree for submission to the Council.

4. Perform other duties assigned by the Council's Chairperson.

5. Archive documents on appraisal of PNS as prescribed.

Article 9. Duties of the interdisciplinary Appraisal Expert Group

1. The interdisciplinary Appraisal Expert Group is an organ established to give assistance to the Council which is composed of experts of ministries, local authorities and other relevant agencies.

2. The interdisciplinary Appraisal Expert Group shall assume the following duties:

a) Prepare contents of the appraisal which are delivered to the Council's members;

b) Prepare modifications or amendments to documentation at the request of the Council’s members during the process of appraisal for submission to the Council;

c) Carry out necessary work contents to assist the Council in choosing an inspection consultant in accordance with Article 11 hereof whenever it is necessary to employ such inspection consultant;

d) Prepare contracts for inspection consultancy, contract settlement records and other relevant documents used for the purpose of payment or settlement of costs of appraisal and inspection of PNS;

dd) Consolidate opinions obtained from the Council’s members, and suggest and request the Council’s Chairperson to review and decide any issue that may arise during the appraisal process;

e) Draft an appraisal report of the Council for submission to the Council’s Chairperson for review and filing of such report to the Government;

g) Implement other work duties assigned by the Council.

Chapter III

HIRE OF INSPECTION CONSULTANT AND COST OF APPRAISAL AND INSPECTION OF PNS

Article 10. Power to decide hire of a consultant in inspection of PNS

1. Inspection consultant refers to a domestic or foreign organization or individual, or a joint venture which is formed by domestic and foreign partners (hereinafter referred to as “consultant” or “inspection consultant") hired by the Council to perform one or several part(s) of contents of appraisal of PNS.

2. The Prime Minister shall consider deciding a plan for selection of inspection consultant in special case as specified in Article 26 of the Law on Bidding at the request of the Minister of Planning and Investment.

3. The Council’s Chairperson shall approve the appraisal plan; the plan for selection of inspection consultant and decide hire of consultant in inspection of PNS in the form of selection as referred to in Article 11 hereof.

Article 11. Procedures for selection of consultant in inspection of PNS

1. Selection of inspection consultant in special cases:

a) The interdisciplinary Appraisal Expert Group shall determine the consultancy contractor that has sufficient competence and experience to immediately render consultancy services and recommend such contractor to the Council's Chairperson to obtain his/her approval.

b) Within 15 days from the contract-awarding date, the interdisciplinary Appraisal Expert Group must complete the direct appointment procedure, including:

- Prepare and send a draft agreement to the consultancy contractor under which requirements regarding extent and scope of work to be carried out, work schedule and work quality that must be met and equivalent value based on which the agreement is negotiated and finalized should be included;

- Proceed to negotiate and complete that agreement;

- Submit the result of selection of consultant in inspection of specific projects to the Council's Chairperson for his/her approval;

- Prepare conclusion of the agreement with the selected consultant. The agreement is signed by three parties, including the representative of the Council, the project owner (investor or the authority assigned to prepare investment in projects) and the selected consultant.

2. Other cases prescribed by the law on bidding.

Article 12. Costs of appraisal and hire of inspection consultant for PNS conducted by the Council

1. Cost of inspection refers to the cost of hire of inspection consultant for PNS conducted by the Council.

2. Cost of appraisal refers to costs used for assisting in appraisal of PNS conducted by the Council (exclusive of cost of inspection referred to in Clause 1 of this Article). Cost of appraisal shall include remuneration paid to the Council’s members and the interdisciplinary Appraisal Expert Group; cost of meeting, stationery supplies and site survey (if any), other relevant and cost contingency.

3. Cost of inspection and appraisal of PNS shall be determined as follows:

a) Maximum cost of inspection of pre-feasibility study report equals to the maximum cost of inspection of feasibility study report;

b) Cost of appraisal equals 20% of the abovementioned maximum cost of inspection. If the maximum cost of inspection is not available and it is required to make an estimate of inspection cost as prescribed in Point c Clause 3 of this Article, an estimate of corresponding appraisal cost shall be made.

c) The maximum cost of inspection of feasibility study report shall comply with regulations of law on construction. In the case where a foreign consultant or domestic-foreign joint venture is hired or the maximum cost is not available, it is required to make a cost estimate, including:

- Cost of hiring experts: salary paid to consulting experts during the inspection and appraisal;

- Other costs: costs of serving and supporting activities of consultancy contractor during the period of providing inspection consulting services such as travel cost (abroad and domestic), cost of hiring office and office equipment, operating cost, communication cost, accommodation cost for consulting experts, professional liability insurance premiums (if any) and other costs;

- Taxes: taxes payable by the inspection consultancy contractor as prescribed by Vietnam’s law;

- Cost contingency: contingency for additional work load and cost escalation during the period when the inspection consultancy contractor performs its duties.

4. Cost of appraisal and hire of consultant in inspection of PNS shall be included in the total investment and paid by project owners, investors or authorities assigned to prepare investment in such projects at the request of the Council, which ensures that any requirement regarding appraisal and inspection progress is met according to the stipulated plan.

Project owners, investors or authorities assigned to prepare investment shall be liable for paying cost of inspection to inspection consultants as agreed upon in the signed agreement after receiving opinions from the Council.

5. Where necessary, the Council shall request project owners, investors or authorities assigned to prepare investment to make, appraise and approve the estimate of costs of hiring inspection consultant. In the case where the project owners, investors or authorities assigned to prepare investment fail to have sufficient competence and experience to carry out appraisal, consultancies that have sufficient competence and experience as prescribed may be hired to carry out inspection prior to approval.

6. The Council shall allow the Council members and the interdisciplinary Appraisal Expert Group to autonomously take control of their spending and other relevant costs with a view to assuring the Council's appraisal activities.

7. Inspection consultants shall be responsible to the Council, project owners, investors or authorities assigned to prepare investment and to the law for inspection results.

Chapter IV

DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF DECISION ON INVESTMENT GUIDELINES AND ADJUSTMENTS TO INVESTMENT GUIDELINES OF PNS

Section 1. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF DECISION ON INVESTMENT GUIDELINES OF PNS FUNDED BY PUBLIC INVESTMENT CAPITAL

Article 13. Documentation and procedures for application for internal appraisal by project owners or units affiliated to authorities assigned to prepare investment

1. Documentation submitted to apply for internal appraisal includes:

a) An application form for internal appraisal submitted by the project owner or unit affiliated to the authority assigned to prepare investment;

b) A pre-feasibility study report;

c) Other relevant documents (if any).

2. The project owner or unit affiliated to the authority assigned to prepare investment shall submit 15 sets of project dossiers as prescribed in Clause 1 of this Article to its supervisory authority or the authority assigned to prepare investment to carry out internal appraisal as prescribed in Point b Clause 1 Article 19 of the Law on Public Investment. The time limit for internal appraisal shall not exceed 30 days from the date of receipt of all valid documents.

Article 14. Documentation and procedures for application for appraisal by supervisory authorities or authorities assigned to prepare investment

1. Documentation submitted to apply for appraisal includes:

a) An application form filed to the Prime Minister by the supervisory authority or authority assigned to prepare investment;

b) A pre-feasibility study report that has been completed according to opinions received from the internal appraisal;

c) An internal appraisal report;

d) Other relevant documents (if any).

2. The supervisory authority or authority assigned to prepare investment shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise investment guidelines of the PNS within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

Article 15. Documentation and procedures for application for appraisal by the Council and the Government

1. Documentation submitted by the Council to apply for appraisal to the Government includes:

a) An application form filed to the Government by the supervisory authority or authority assigned to prepare investment;

b) A pre-feasibility study report;

c) An appraisal report prepared by the Council;

d) Other relevant documents (if any).

2. The Government shall consider and give its opinions on investment guidelines of PNS in accordance with the Government’s working regulations.

3. Documentation submitted by the Government to the National Assembly as prescribed in Article 20 of the Law on Public Investment includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 1 of this Article;

c) Other relevant documents (if any).

Article 16. Contents of appraisal of decision on investment guidelines of PNS funded by public investment capital

1. Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations.

2. Satisfaction of criteria for determination of PNS;

3. Necessity of investment, conditions for investment, assessment of conformity with socio – economic development strategies and plans, and relevant planning in accordance with the law on planning.

4. Assessment of demand forecast, influence coverage and proposed objectives of investment, scale and form of investment.

5. Assessment of location and site of investment, proposed demand for land area used and demand for utilization of other natural resources (if any); assessment of the compensation, assistance, land clearance and relocation plan.

6. Assessment of analysis, preliminary choice in terms of key technology and techniques, and conditions for supply of raw materials, equipment, energy, services and infrastructural facilities;

7. Assessment of analysis, preliminary selection of investment plans and scale of investment constituents;

8. Preliminary assessment of environmental impacts (if any) prescribed by the law on environmental protection.

9. Assessment of determination of preliminary total investment and capital raising plan: bases for determination of preliminary total investment; capital source structure; preliminary analysis of feasibility of capital raising plans and capability of balancing public investment capital.

10. Assessment of determination of preliminary costs of operation, maintenance, overhaul and major repair during the period of operation of projects.

11. Assessment of the proposed progress of execution of projects, division of investment phases or component or subordinate projects (if any).

12. Preliminary assessment of investment efficiency in terms of finance, society, economy, national defense and security and sustainable development.

13. Assessment of solutions for organizing execution of projects: definition of the project owner (if any); form of project management.

14. Assessment of particular mechanisms and policies; investment incentives and assistance and conditions for application thereof (if any).

Section 2. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF DECISION ON INVESTMENT GUIDELINES OF PPP PROJECTS SUBJECT TO DECISION ON THEIR INVESTMENT GUIDELINES BY THE NATIONAL ASSEMBLY

Article 17. Documentation and procedures for application for appraisal

1. Documentation submitted to apply for appraisal:

a) Documentation submitted by the competent authority includes the documents specified in Clause 1 Article 15 of the Law on Public – Private Partnership Investment.

b) Documentation submitted by the investor includes the documents specified in Point c Clause 1 Article 27 of the Law on Public – Private Partnership Investment.

2. The competent authority shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise investment guidelines of projects within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to apply for appraisal to the Government includes:

a) The documents specified in Clause 1 of this Article;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

6. The Government shall consider and give its opinions on investment guidelines of the project in accordance with the Government’s working regulations.

7. Documentation submitted by the Government to the National Assembly shall comply with Article 16 of the Law on Public – Private Partnership Investment.

Article 18. Contents of appraisal of decision on investment guidelines of projects

1. Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations.

2. Satisfaction of criteria for determination of projects subject to decision on their investment guidelines by the National Assembly.

3. Conformity with requirements for project’s eligibility for PPP investment specified in Clause 1 Article 14 of the Law on Public – Private Partnership Investment.

4. Conformity with bases for preparation of pre-feasibility study reports specified in Clause 2 Article 14 of the Law on Public – Private Partnership Investment.

5. Conformity with the socio – economic development strategies and plans, and relevant planning in accordance with the law on planning.

6. Assessment of objectives; proposed project scale, site and duration of the project, demands for use of land and other natural resources;

7. Assessment of analysis, preliminary choice in terms of key technology and techniques, and conditions for supply of raw materials, equipment, energy, services and infrastructural facilities;

8. Assessment of analysis, preliminary selection of investment plans and scale of investment constituents;

9. Assessment of the compensation, assistance, land clearance and relocation plan.

10. Preliminary assessment of environmental impacts (if any) prescribed by the law on environmental protection.

11. Assessment of determination of preliminary total investment.

12. Assessment of determination of preliminary costs of operation, maintenance, overhaul and major repair during the period of operation of projects;

13. Assessment of division of investment phases or component or subordinate projects (if any).

14. Preliminary assessment of investment efficiency in terms of finance, society, economy; effects of PPP projects on the community and population living within these projects; effects of projects on national defense, security and sustainable development; capital recovery.

15. Relevance of the PPP contract type.

16. Mechanism for distribution of revenue reductions.

17. Funding sources and capital balancing capability of PPP projects funded by state capital.

18. Assessment of form of project management.

19. Assessment of particular mechanisms and policies; investment incentives and assistance and conditions for application thereof (if any).

Section 3. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF APPROVAL FOR INVESTMENT GUIDELINES OF PPP PROJECTS SUBJECT TO APPROVAL FOR THEIR INVESTMENT GUIDELINES BY THE NATIONAL ASSEMBLY

Article 19. Document and procedures for application for appraisal by investors or competent authorities

1. Documentation submitted to apply for appraisal:

a) Documentation submitted to apply for appraisal of approval for investment guidelines of projects proposed by investors shall comply with Clause 1 Article 33 of the Law on Investment;

b) Documentation submitted to apply for appraisal of approval for investment guidelines of projects set up by competent authorities shall comply with Clause 2 Article 33 of the Law on Investment.

2. The investor or competent authority shall submit 20 sets of documents as prescribed in Clause 1 of this Article to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise investment guidelines of projects within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

Article 20. Documentation and procedures for application for appraisal by the Council and the Government

1. Documentation submitted by the Council to apply for appraisal to the Government includes:

a) The documents mentioned in Clause 1 Article 19 hereof;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

2. The Government shall consider and give its opinions on investment guidelines of PNS in accordance with the Government’s working regulations.

3. Documentation submitted by the Government to the National Assembly as prescribed in Clause 5 Article 34 of the Law on Investment includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 1 of this Article;

c) Other relevant documents (if any).

Article 21. Contents of appraisal of approval for investment guidelines

1. Contents of appraisal of approval for investment guidelines include:

a) Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations.

b) Satisfaction of criteria for determination of projects subject to approval for their investment guidelines by the National Assembly;

c) Necessity of executing the investment project;

d) Conformity of the investment project with national planning, regional planning, provincial planning, urban planning and special economic - administrative unit planning (if any);

dd) Objectives, scale, location, duration, execution schedule of the investment project, demand for land use, land clearance and relocation plan, options to select primary technologies;

e) Assessment of the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;

g) Assessment of determination of preliminary total investment; capital sources and feasibility of capital sources;

h) Preliminary assessment of investment efficiency in terms of finance, society, economy, national defense and security and sustainable development;

i) Preliminary assessment of environmental impacts (if any) prescribed by the law on environmental protection;

k) Assessment of investment incentives and conditions for enjoying investment incentives (if any);

l) Assessment of conformity of the investment project with the objectives and orientation for urban development, and residential housing development programs and plans; preliminary plan for phasing of investment with a view to synchronism assurance; preliminary structure of residential housing products and provision of land for social residential housing development; preliminary plan for investment in construction and management of urban infrastructure inside and outside the project in the case of a project on construction of residential houses and urban areas.

m) Special policies and mechanisms; investment incentives, investment assistance and conditions for application thereof (if any).

2. Contents of appraisal of approval for both investment guidelines and investors:

a) The contents specified in Clause 1 of this Article;

b) The ability to satisfy the conditions for land allocation or land lease in the case of land allocation or land lease without auction of the land use right or bidding for investor selection; the ability to satisfy the conditions for land repurposing if the project requires land repurposing;

c) Assessment of satisfaction of market access conditions applied to foreign investors (if any);

d) Other conditions applicable to the investor in accordance with relevant regulations of law.

Section 4. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF APPROVAL FOR OUTWARD INVESTMENT GUIDELINES

Article 22. Documentation and procedures for application for appraisal by investors

1. The investor shall submit 20 sets of documents as referred to in Clause 1 Article 57 of the Law on Investment to the Ministry of Planning and Investment.

2. Within 05 working days from the receipt of all required project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

3. The Council shall appraise outward investment guidelines within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

Article 23. Documentation and procedures for application for appraisal by the Council and the Government

1. Documentation submitted by the Council to the Government includes:

a) The documents specified in Clause 1 Article 57 of the Law on Investment;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

2. The Government shall consider and give its opinions on outward investment guidelines in accordance with the Government’s working regulations.

3. Documentation submitted by the Government to the National Assembly as prescribed in Clause 5 Article 57 of the Law on Investment includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 1 of this Article;

c) Other relevant documents (if any).

Article 24. Contents of appraisal of approval for outward investment guidelines

1. Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations.

2. Satisfaction of criteria for determination of projects subject to approval for their investment guidelines by the National Assembly;

3. Conditions for issuance of the outward investment registration certificate specified in Article 60 of the Law on Investment.

4. Legal status of the investor.

5. Necessity of conducting outward investment activities.

6. Conformity of the investment project with Clause 1 Article 51 of the Law on Investment.

7. Form, scale, location and execution schedule of the investment project, outward investment capital and sources of capital.

8. Assessment of level of risks in the host country.

9. Special policies and mechanisms; investment incentives, investment assistance and conditions for application thereof (if any).

Section 5. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF ADJUSTMENTS TO INVESTMENT GUIDELINES OF PNS FUNDED BY PUBLIC INVESTMENT CAPITAL

Article 25. Documentation and procedures for application for internal appraisal of adjustments to investment guidelines by project owners or units affiliated to authorities assigned to prepare investment

1. Documentation submitted to apply for internal appraisal includes:

a) An application form for internal appraisal submitted by the project owner or unit affiliated to the authority assigned to prepare investment;

b) Adjusted pre-feasibility study report or adjusted feasibility study report;

c) A report on supervision and assessment of adjustments to the investment project;

d) Other relevant documents (if any).

2. The project owner or unit affiliated to the authority assigned to prepare investment shall submit 15 sets of documents as prescribed in Clause 1 of this Article to its supervisory authority or the authority assigned to prepare investment to carry out internal appraisal as prescribed in Point b Clause 2 Article 34 and Point Clause 1 Article 19 of the Law on Public Investment. The time limit for internal appraisal shall not exceed 30 days from the date of receipt of all valid documents.

3. The project owner or unit affiliated to the authority assigned to prepare investment shall complete the project dossiers based on the contents of internal appraisal.

Article 26. Documentation and procedures for application for appraisal of adjustments to investment guidelines by supervisory authorities or authorities assigned to prepare investment

1. Documentation submitted to apply for appraisal includes:

a) An application form filed to the Prime Minister by the supervisory authority or authority assigned to prepare investment;

b) Adjusted pre-feasibility study report or adjusted feasibility study report that has been completed according to opinions received from the internal appraisal;

c) The internal appraisal report specified in Clause 2 Article 29 hereof;

d) A report on supervision and assessment of adjustments to the investment project;

dd) Other relevant documents (if any).

2. The supervisory authority or authority assigned to prepare investment shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise adjustments to investment guidelines of the project within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

Article 27. Documentation and procedures for application for appraisal by the Council and the Government

1. Documentation submitted by the Council to the Government includes:

a) The documents specified in Clause 1 Article 26 hereof;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

2. The Government shall consider and give its opinions on investment guidelines of the project in accordance with the Government’s working regulations.

3. Documentation submitted by the Government to the National Assembly includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 1 of this Article;

c) Other relevant documents (if any).

Article 28. Contents of appraisal of adjustments to investment guidelines of PNS funded by public investment capital

All adjustments must be appraised in the similar manner to those referred to in Article 16 hereof.

Section 6. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF ADJUSTMENTS TO INVESTMENT GUIDELINES OF PPP PROJECTS SUBJECT TO DECISION ON THEIR INVESTMENT GUIDELINES BY THE NATIONAL ASSEMBLY

Article 29. Documentation and procedures for application for appraisal of adjustments to investment guidelines

1. Documentation submitted by the competent authority includes the documents specified in Clause 4 Article 18 of the Law on Public – Private Partnership Investment.

2. The competent authority shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise adjustments to investment guidelines of PNS within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to the Government includes:

a) The documents specified in Clause 1 of this Article;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

6. The Government shall consider and give its opinions on investment guidelines of PNS in accordance with the Government’s working regulations.

7. Documentation submitted by the Government to the National Assembly includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 5 of this Article;

c) Other relevant documents (if any).

Article 30. Contents of appraisal of adjustments to investment guidelines of projects

All adjustments must be appraised in the similar manner to those referred to in Article 18 hereof.

Section 7. . DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF APPROVAL FOR ADJUSTMENTS TO INVESTMENT GUIDELINES OF INVESTMENT PROJECTS AS SPECIFIED IN ARTICLE 41 OF THE LAW ON INVESTMENT

Article 31. Documentation and procedures for application for appraisal of approval for adjustments to investment guidelines of projects

1. Documentation submitted by the investor to apply for appraisal includes:

a) An application form for approval for adjustments to investment guidelines, which specifies the adjustments and reason for adjustment;

b) Adjusted proposal for the investment project or adjusted pre-feasibility study report or adjusted feasibility study report;

c) The documents in Points b, c, dd, e, g and h Clause 1 Article 33 of the Law on Investment related to the adjustments.

d) Other relevant documents (if any).

2. The investor shall submit 20 sets of documents as referred to in Clause 1 of this Article to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of all valid documents, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise approval for adjustments to investment guidelines within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to the Government includes:

a) The documents specified in Clause 1 of this Article;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

6. The Government shall consider and give its opinions on approval for adjustments to investment guidelines of PNS in accordance with the Government’s working regulations.

7. Documentation submitted by the Government to the National Assembly includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 5 of this Article;

c) Other relevant documents (if any).

Article 32. Contents of appraisal of approval for adjustments to investment guidelines of projects

All adjustments must be appraised in the similar manner to those referred to in Article 21 hereof.

Section 8. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF APPROVAL FOR ADJUSTMENTS TO OUTWARD INVESTMENT GUIDELINES

Article 33. Documentation and procedures for application for appraisal of adjustments to outward investment guidelines

1. Documentation submitted by the investor to apply for appraisal includes:

a) An application form for approval for adjustments to outward investment guidelines, which specifies the adjustments and reason for adjustment;

b) The documents specified in Clause 3 Article 63 of the Law on Investment;

c) Other relevant documents (if any).

2. The investor shall submit 20 sets of documents as referred to in Clause 1 of this Article to the Ministry of Planning and Investment.

3. Within 05 working days from the receipt of all required project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise approval for adjustments to outward investment guidelines within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to the Government includes:

a) The documents specified in Clause 1 of this Article;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

6. The Government shall consider and give its opinions on approval for outward investment guidelines in accordance with the Government’s working regulations.

7. Documentation submitted by the Government to the National Assembly includes:

a) An application form prepared by the Government;

b) The documents specified in Clause 5 of this Article;

c) Other relevant documents (if any).

Article 34. Contents of appraisal of approval for adjustments to investment guidelines of projects

All adjustments must be appraised in the similar manner to those referred to in Article 24 hereof.

Chapter V

DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF DECISION ON INVESTMENT GUIDELINES AND DECISION ON ADJUSTMENTS TO PNS

Section 1. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF DECISION ON INVESTMENT IN PNS FUNDED BY PUBLIC INVESTMENT CAPITAL

Article 35. Documentation and procedures for application for appraisal

1. Documentation submitted by a project owner or authority assigned to prepare investment to apply for appraisal to the supervisory authority includes:

a) An application form submitted by the project owner to the supervisory authority;

b) A feasibility study report;

c) The National Assembly’s resolution on approval of investment guidelines of the PNS;

d) Other relevant documents (if any).

2. Documentation submitted by the supervisory authority to apply for appraisal includes:

a) An application form submitted to the Prime Minister;

b) A feasibility study report;

c) The National Assembly’s resolution on approval of the investment guidelines of the PNS;

d) Other relevant documents (if any).

3. The competent authority shall submit 01 set of documents as prescribed in Clause 2 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

4. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

5. The Council shall appraise the project dossiers within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the official inspection result given by the inspection consultant is available.

6. Documentation submitted by the Council to the Prime Minister includes:

a) The documents specified in Clause 2 of this Article;

b) An appraisal report prepared by the Council;

c) Other relevant documents (if any).

7. The Prime Minister shall consider and give his opinions on the decision to invest in PNS in accordance with the Government’s working regulations.

Article 36. Contents of appraisal of decision on investment in PNS

1. Appraisal contents are composed of:

a) Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations;

b) Necessity of the project;

c) Conformity of the project with socio – economic development strategies and plans, and relevant planning in accordance with the law on planning; conformity with investment guidelines approved by the competent authority;

d) Assessment of analysis, determination of objectives, duties and outputs of the project; analysis and selection of the project scale; form of investment; analysis of natural conditions, economic and technical conditions, selection of investment project location;

dd) Assessment of demands for land to be used; conditions for land allocation, lease and permission for land repurposing in accordance with laws on land (if any);

e) Assessment of time, progress of project execution, main time periods of project execution; investment phasing;

g) Assessment of source of materials; machinery, equipment; plan for selection of technology, technique and equipment;

h) Assessment of environmental impacts (if any) in accordance with regulations of law on environmental protection; fire and explosion prevention; national defence and security assurance and other factors;

i) Assessment of the total investment: bases for determination and level of accuracy of the total investment; capital source structure and feasibility of capital raising plans; competence in capital raising in conformity with the progress of project execution; competence in capital recovery and loan repayment;

k) Costs of operation, maintenance, overhaul and major repair during the period of operation of the project;

l) Assessment of investment efficiency, including financial efficiency, and socio-economic efficiency and impacts of the project; widespread effects of the project on development of industries, sectors, territories and localities; on creation of additional budget revenues, employment, income and lives of residents; effects on environment and sustainable development;

m) Risk analysis; workforce training (if any);

n) Assessment of the planning for compensation, site clearance, relocation, farming and residential relocation (if any);

o) Assessment of conduct of management of the project, including determination of the project owner; form of project management; relationship and responsibility of entities relating to the process of project execution, organization of the mechanism for management and operation of the project.

2. As for any project with a construction constituent, in addition to assessment of the contents stipulated in Clause 1 of this Article, appraisal of the fundamental design plan in accordance with laws on construction must be carried out. To be specific:

a) Conformity of fundamental design solutions with design tasks; list of applicable standards;

b) Compliance with regulations of law on preparation of the fundamental design; the fulfillment of construction operation capability conditions by organizations and individuals practicing construction;

c) Conformity of the fundamental design with construction planning and other detailed planning as prescribed by the Law on Planning or the plan on the line of works and the construction location approved by competent authorities;

d) For the urban area construction investment project, the regional infrastructure connectivity; the fulfillment of technical infrastructure requirements and assignment of responsibility to manage the works in accordance with relevant regulations of law;

dd) Conformity of fundamental design solutions to ensuring construction safety;

e) Compliance with technical regulations and application of standards in accordance with regulations of law on technical regulations and standards.

Section 2. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF APPROVAL FOR PPP PROJECTS

Article 37. Documentation and procedures for application for appraisal

1. Documentation submitted by competent authorities to apply for appraisal shall comply with Clause 1 Article 20 of the Law on Public – Private Partnership Investment.

2. The competent authority shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise the project within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to the Prime Minister for consideration and decision on investment in the project shall comply with Article 22 of the Law on Public – Private Partnership Investment.

6. The Prime Minister shall consider and give his opinions on the decision to invest in PNS in accordance with the Government’s working regulations.

Article 38. Contents of appraisal of approval for projects

1. Appraisal contents are composed of:

a) Assessment of project dossiers: legal bases, components and contents of dossiers in accordance with applied regulations;

b) Necessity of investment;

c) Conformity with socio – economic development strategies and plans, and relevant planning in accordance with the law on planning; conformity with investment guidelines approved by the competent authority;

d) Assessment of objectives, scale, location, time, progress of execution of projects, demand for use of land and other natural resources;

dd) Assessment of analysis, preliminary choice in terms of key technology and techniques, and conditions for supply of raw materials, equipment, energy, services and infrastructural facilities;

e) Assessment of analysis and selection of investment plans and scale of investment constituents;

g) Assessment of the compensation, assistance, land clearance and relocation plan;

h) Assessment of environmental impacts (if any) prescribed by the law on environmental protection;

i) Assessment of determination of the total investment;

k) Assessment of determination of costs of operation, maintenance, overhaul and major repair during the period of operation of the project;

l) Assessment of division of investment phases or component or subordinate projects (if any);

m) Assessment of investment efficiency in terms of finance, society, economy; effects of PPP projects on the community and population living within these projects; effects of projects on national defense, security and sustainable development; capital recovery;

n) Relevance of the PPP contract type;

o) Mechanism for distribution of revenue reductions;

p) Funding sources and capital balancing capability of PPP projects funded by state capital;

q) Assessment of form of project management;

r) Plans for organization of management, business or provision of public products and services;

s) Assessment of particular mechanisms and policies; investment incentives and assistance and conditions for application thereof (if any).

2. As for any project with a construction constituent, in addition to assessment of the contents stipulated in Clause 1 of this Article, appraisal of the fundamental design plan in accordance with laws on construction must be carried out. To be specific:

a) Conformity of fundamental design solutions with design tasks; list of applicable standards;

b) Compliance with regulations of law on preparation of the fundamental design; the fulfillment of construction operation capability conditions by organizations and individuals practicing construction;

c) Conformity of the fundamental design with construction planning and other detailed planning as prescribed by the Law on Planning or the plan on the line of works and the construction location approved by competent authorities;

d) For the urban area construction investment project, the regional infrastructure connectivity; the fulfillment of technical infrastructure requirements and assignment of responsibility to manage the works in accordance with relevant regulations of law;

dd) Conformity of fundamental design solutions to ensuring construction safety;

e) Compliance with technical regulations and application of standards in accordance with regulations of law on technical regulations and standards.

Section 3. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF ADJUSTMENTS TO PNS FUNDED BY PUBLIC INVESTMENT CAPITAL

Article 39. Documentation and procedures for application for appraisal

1. Documentation submitted by a project owner to apply for appraisal of adjustments to the investment project includes:

a) An application form for appraisal of adjustments to the investment project;

b) Adjusted feasibility study report;

c) A report on supervision and assessment of adjustments to the investment project;

d) Other relevant documents (if any).

2. The project owner shall submit the documents specified in Clause 1 of this Article to the supervisory as a report to the Prime Minister.

3. Documentation submitted by the supervisory authority to apply for appraisal of adjustments to the investment project includes:

a) An application form submitted to the Prime Minister;

b) The documents specified in Clause 1 of this Article;

4. The competent authority shall submit 01 set of documents as prescribed in Clause 3 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

5. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

6. The Council shall appraise the project within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

7. Documentation submitted by the Council to the Prime Minister includes:

a) The documents specified in Clause 3 of this Article;

b) A report on appraisal of adjustments to the project prepared by the Council;

c) Other relevant documents (if any).

8. The Prime Minister shall consider and give his opinions on the decision to adjust the project in accordance with the Government’s working regulations.

Article 40. Contents of appraisal of adjustments to the project

All adjustments must be appraised in the similar manner to those referred to in Article 36 hereof.

Section 4. DOCUMENTATION, PROCEDURES AND CONTENTS OF APPRAISAL OF ADJUSTMENTS TO PPP PROJECTS

Article 41. Documentation and procedures for application for appraisal

1. Documentation submitted by a competent authority to apply for appraisal of adjustments to the project includes:

a) An application form for appraisal;

b) A draft application form for approval for adjustments;

c) Adjusted feasibility study report;

d) Decision on investment guidelines;

dd) A report on supervision and assessment of adjustments to the investment project;

e) Other relevant documents (if any).

2. The competent authority shall submit 01 set of documents as prescribed in Clause 1 of this Article as a report to the Prime Minister, and concurrently submit 20 sets of documents to the Ministry of Planning and Investment.

3. Within 15 days from the receipt of the project dossiers, the Ministry of Planning and Investment shall request the Prime Minister to establish a Council as prescribed in Article 4 hereof.

4. The Council shall appraise the project dossiers within 90 days from the date of establishment. If an inspection consultant is hired, the time limit for appraisal by the Council begins from the date on which the consultant hiring contract is signed.

5. Documentation submitted by the Council to the Prime Minister for consideration and decision on investment in the project shall comply with Clause 4 Article 24 of the Law on Public – Private Partnership Investment.

6. The Prime Minister shall consider and give his opinions on the decision to adjust the project in accordance with the Government’s working regulations.

Article 42. Contents of appraisal of adjustments to the project

All adjustments must be appraised in the similar manner to those referred to in Article 38 hereof.

Chapter VI

SUPERVISION AND ASSESSMENT OF INVESTMENT PROGRAMS/PROJECTS

Section 1. SUPERVISION AND ASSESSMENT OF PUBLIC INVESTMENT PROGRAMS

Article 43. Responsibility to supervise public investment program

1. Owners of the program and component projects shall monitor and inspect the investment process of the public investment program according to the approved contents and criteria to ensure achievement of objectives and investment efficiency.

2. The supervisory body and person competent to decide investment (hereinafter referred to as “the investment decider”) in the program shall monitor and inspect the program under their management. Inspection shall be carried out as follows:

a) The program whose investment duration is longer than 12 months shall undergo at least one inspection;

b) Inspection shall be carried out if the location, objective or scale of the project is changed or the total investment is increased.

3. The public investment authority shall monitor and inspect the program under its management.

4. The public investment authority, supervisory authority and person competent to decide the investment guidelines of the program shall decide to organize planned and ad hoc inspections of the program.

Article 44. Contents of supervision by program owner

The program owner shall monitor and inspect the entire process of execution of the program and make a report on the following issues:

1. Management of the program execution: formulation of an overall plan and detailed plan for launching the program; implementation and adjustment of such plans;

2. Progress of program execution: progress of achievement of the program’s objectives; progress of component projects of the program; value of finished works.

3. Implementation of capital investment plan: raising capital for the program; disbursement; outstanding debts accruing from capital construction activities (if any).

4. Capacity for execution of component projects and adherence of owners of component projects to regulations on investment management.

5. Proposed plans for resolving difficulties and issues beyond the program owner’s competence.

Article 45. Contents of supervision by the supervisory body and investment decider in the program

1. Monitoring contents:

a) Adherence to reporting regulations by the program owner and owners of component projects of the program;

b) Formulation, appraisal and approval of projects of the program;

c) Progress of program execution: progress of achievement of the program’s objectives; progress of implementation of the capital investment and disbursement plan; primary difficulties that affect the program execution, and results of resolution thereto;

d) Implementation of measures by the program owner and owners of component projects;

dd) Proposed plans for resolving difficulties and issues beyond the one’s competence.

2. Inspection contents:

a) Management of execution of the program by the its owner and management of execution of component projects by their owners;

b) Implementation of measures for resolving issues taken by relevant agencies and units.

Article 46. Contents of supervision by owners of component projects

1. Monitoring contents:

a) Execution of component projects of the program: setting up, appraisal and approval of investment projects; execution of investment projects; implementation of capital investment and disbursement plan; difficulties that arise, and results of resolution thereto;

b) Proposed plans for resolving difficulties and issues beyond owner’s competence.

2. Inspection contents:

a) Execution and management of component projects;

b) Adherence to regulations on investment management and owner’ capacity of project management;

c) Implementation of measures for resolving discovered issues.

Article 47. Contents of supervision by public investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations by the program owner and owners of component projects of the program;

b) Progress of program execution: progress of achievement of the program’s objectives; progress of implementation of the capital investment and disbursement plan; primary difficulties that affect the program execution and results of resolution thereto;

c) Implementation of measures by the program owner and owners of component projects;

d) Proposed plans for resolving difficulties and issues beyond the one’s competence.

2. Inspection contents:

a) Adherence to regulations on formulation and appraisal of, and decision on investment in projects, and decision on adjustments to projects (if any) of the program;

b) Management and execution of the program by the supervisory authority, program owner and owners of component projects;

c) Implementation of measures for resolving issues taken by relevant agencies and units.

Article 48. Supervision of investment projects of a public investment program

Supervision of investment projects of a public investment program shall comply with Sections 2, 3, 4 and 5 of this Chapter.

Article 49. Assessment of public investment programs

1. A public investment program shall be assessed as follows:

a) Every public investment program must undergo an initial assessment, midterm assessment, terminal assessment and impact assessment;

b) The supervisory body and investment decider shall decide ad hoc assessment of the program where necessary.

2. Responsibility for assessment of public investment programs:

a) The program owner shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The investment decider shall carry out ad hoc assessment and impact assessment;

c) The public investment authority and supervisory body shall carry out various types of planned and ad hoc assessments of the programs under their management.

3. Assessment contents shall comply with Article 73 of the Law on Public Investment.

4. Assessment of investment efficiency of a public investment program:

a) Method for assessment of investment efficiency of the public investment program: comparative method (comparison between results/data actually collected at the assessment time and the expected objectives/planned data; or comparison between parameters of the project at the assessment time and standard indicators; or combination thereof).

b) Criteria for assessment of investment efficiency of the public investment program: the conformity of the program with national socio-economic objectives, local socio-economic objectives, the conformity between the demand of beneficiaries and the sponsor’s development policies (if any); the level of achievement of investment objectives of the program according to the approved investment decision; actual operation indexes of the program compared with those of an approved program; socio-economic impacts, environmental impacts, and other specific development objectives (such as poverty reduction, gender equality, households benefiting social policies, and priority entities, etc.); adopted measures for minimizing negative social and environmental impacts.

Section 2. SUPERVISION AND ASSESSMENT OF PUBLIC INVESTMENT PROJECTS

Article 50. Responsibility to supervise public investment projects

1. Every project owner shall monitor and inspect the entire investment process of the project according to the approved contents and criteria to ensure achievement of objectives and investment efficiency.

2. Supervisory authorities and investment deciders shall monitor and inspect projects under their management. Inspection shall be carried out as follows:

a) A project whose investment duration is longer than 12 months shall undergo at least one inspection;

b) Inspection shall be carried out if the location, objective or scale of the project is changed or the total investment is increased.

3. Public investment authorities and specialized regulatory authorities shall monitor and inspect projects under their management.

4. Public investment authorities, specialized regulatory authorities, supervisory authorities and investment deciders shall decide to organize planned and ad hoc inspections of projects.

Article 51. Contents of supervision by the project owner and operator

1. The project owner shall monitor and inspect the entire process of execution of the program and make a report on the following issues:

a) Management of the project execution: formulation of an overall plan and detailed plan for project execution; implementation and adjustment of such plans;

b) Execution of the project: progress, amount and value of finished works; work quality; fluctuation during the project execution;

c) Implementation of capital investment plan: raising capital for the project; disbursement (advance, advance withdrawal and payment); financial statement after the project is complete, outstanding debts accruing from capital construction activities (if any) and settlement thereof;

d) Capacity for project execution and adherence to regulations on investment management of the project management board and contractors;

dd) Difficulties that arise during the execution of the project and resolution thereto;

e) Proposed plans for resolving difficulties and issues beyond the project owner’s competence.

2. The operator shall monitor and inspect the entire process of execution of the project and make a report on the following issues:

a) Management and operation of the project;

b) Difficulties that arise during the operation of the project and resolution thereto;

c) Proposed plans for resolving difficulties and issues beyond the operator’s competence.

Article 52. Contents of supervision by the investment decider

1. Monitoring contents:

a) Adherence to reporting regulations by the project owner and operator;

b) Execution of the project: progress; implementation of capital investment plan; disbursement; financial statement after the project is complete; outstanding debts accruing from capital construction activities (if any) and settlement thereof; difficulties that affect the project execution and results of resolution thereto;

c) Operation of the project; primary difficulties that arise affect project operation and results of resolution thereto;

d) Implementation of measures by the project owner and operator;

dd) Proposed plans for resolving difficulties and issues beyond the competence.

2. Inspection contents:

a) Adherence to regulations on supervision and assessment of investment; bidding; compensation for land clearance and relocation; use of capital and other resources; distribution of capital, disbursement, payment, statement of investment capital; settlement of difficulties that arise during the project execution; acceptance and inauguration of the project; management and operation of the project; environmental protection;

b) Project execution management by the project owner and project management board;

c) The project’s progress;

d) Project operation by the operator;

dd) Implementation of measures for resolving discovered issues by the authority assigned to prepare investment, project owner, project management board and operator.

Article 53. Contents of supervision by the supervisory authority and public investment authority

1. Monitoring contents:

a) Adherence to reporting regulations by the authority assigned to prepare investment, project owner, investment decider and operator;

c) Progress of program execution: progress of implementation of the capital investment and disbursement plan; difficulties that affect the program execution, and results of resolution thereto;

d) Operation of the project; primary difficulties that arise affect project operation and results of resolution thereto;

dd) Implementation of measures by the project owner, investment decider and operator;

e) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Adherence to regulations on supervision and assessment of investment;

b) Project execution management by the investment decider, project owner and project management board;

c) The project’s progress;

d) Project operation by the operator;

dd) Implementation of measures for resolving discovered issues by the authority assigned to prepare investment, investment decider, project owner, project management board and operator.

Article 54. Contents of supervision by specialized regulatory authorities

Specialized regulatory authorities shall, within their jurisdiction, supervise public investment projects in accordance with special legislation.

Article 55. Assessment of public investment projects

1. Assessment shall be carried out as follows:

a) PNS and Group A projects must undergo an initial assessment, midterm assessment, terminal assessment and impact assessment;

b) Group B and Group C projects must undergo terminal assessment and impact assessment;

c) In addition to the regulations mentioned in Point a and Point b of this Clause, the investment deciders and public investment authorities shall decide other types of assessment prescribed in Clause 4 Article 3 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) The project owner shall carry out the initial assessment, midterm assessment and terminal assessment;

b) The investment decider shall carry out ad hoc assessment and impact assessment.

The investment decider may delegate the operator or a specialized agency to carry out the impact assessment of the project;

c) Public investment authorities shall carry out various types of planned and ad hoc assessments of projects under their management.

3. Contents of assessment of public investment projects shall comply with Article 73 of the Law on Public Investment.

4. Assessment of investment efficiency of the public investment project:

a) Method for assessment of investment efficiency of a public investment project: depending on the scale and nature of the project, either comparative method (comparison between results/data actually collected at the evaluation time and the expected objectives/planned data; or comparison between parameters of the project at the evaluation time and standard indicators; or combination thereof) or cost - benefit analysis method may be employed;

b) Criteria for assessment of investment efficiency of a public investment project: the level of achievement of investment objectives of the project according to the approved investment decision; actual operation indexes of the project compared with those of approved projects; the economic internal rate of return (EIRR); socio-economic impacts, environmental impacts, and other specific development objectives (such as poverty reduction, gender equality, households benefiting social policies and priority entities); adopted measures for minimizing negative social and environmental impacts.

Section 3. SUPERVISION AND ASSESSMENT OF PPP PROJECTS

Article 56. Responsibility for project supervision

1. Authorities signing PPP contracts and investor shall monitor and inspect the investment process of projects according to the approved contents and project contract.

2. Persons competent to approve the project and competent authorities shall monitor and inspect projects under their management. Inspection shall be carried out as follows:

a) Every approved project shall undergo at least one inspection;

b) Inspection shall be carried out if the location, objective or scale of the project is changed or the total investment is increased.

3. The PPP investment authority and specialized regulatory authority shall monitor and inspect the project under their management.

4. The PPP investment authority, specialized regulatory authority, competent authority and person competent to approve projects shall decide to organize planned and ad hoc inspections.

Article 57. Contents of supervision by the investor, project enterprise and authority signing PPP contract

1. The investor and project enterprise shall monitor and inspect the execution of the project contract and make a report on the following issues:

a) Execution of the project contract by timeline;

b) Execution of the investment project: progress; amount and value of finished works; work quality;

c) Raising of the investment capital for project execution (state capital, equity and loans);

d) Actual revenue of the project; value of the increased revenue (if any) shared by the project enterprise with the State; value of the reduced revenue (if any) which the State has paid or is expected to pay to the project enterprise;

dd) Difficulties that arise during the execution of the project and results of resolution thereto;

e) Proposed plans for resolving difficulties and issues beyond the project owner’s competence.

2. The authority signing the PPP contract shall monitor, inspect and make a report on the following issues:

a) Selection of the investor; negotiation and signature of the project contract;

b) Performance of the tasks in Clause 1 of this Article;

c) Forecasting of costs for the State during the next 03 or 05 year period from the reporting year;

d) Difficulties that arise during the execution of the project contract and results of resolution thereto;

dd) Proposed plans for resolving difficulties and issues beyond the competence.

Article 58. Contents of the competent authority and person competent to approve a project

1. Monitoring and inspection of the selection of the investor and signature of the project contract.

2. Monitoring and inspection of the execution of the project contract.

Article 59. Contents of supervision by the PPP investment authority

1. Monitoring and inspection of the project announcement.

2. Selection of investors, negotiation and signature of the project contract.

3. Execution of the project contract.

4. Inspection of the compliance with regulations on investment management by the parties while performing the project contract.

5. Monitoring and inspection of other contents specified in Articles 86 and 87 of the Law on Public – Private Partnership Investment.

Article 60. Contents of supervision by specialized regulatory authorities

Specialized regulatory authorities shall, within their jurisdiction, monitor and inspect PPP projects in accordance with special legislation.

Article 61. Assessment of PPP projects

1. Project assessment shall be carried out as follows:

a) Projects subject to decision on their investment guidelines by the National Assembly and the Prime Minister must undergo a midterm assessment, terminal assessment and impact assessment;

b) Projects subject to decision on their investment guidelines by Ministers, heads of central government authorities and other authorities in accordance with regulations of law on PPP must undergo a terminal assessment and impact assessment;

c) In addition to the regulations mentioned in Point a and Point b of this Clause, competent authorities, persons competent to approve projects and PPP investment authorities shall decide other types of assessment prescribed in Clause 4 Article 3 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) Authorities signing PPP project contracts shall carry out midterm assessment and terminal assessment;

b) Persons competent to approve projects shall carry out ad hoc assessment and impact assessment;

c) PPP investment authorities shall carry out various types of planned and ad hoc assessments of projects under their management.

3. Contents of assessment of PPP projects shall comply with Article 73 of the Law on Public Investment.

Section 4. SUPERVISION AND ASSESSMENT OF INVESTMENT PROJECTS FUNDED BY NON-PUBLIC INVESTMENT STATE CAPITAL

Article 62. Responsibility for project supervision

1. Investors shall monitor and inspect the investment process of their projects according to the approved contents and criteria approved in the investment decisions.

2. Investment deciders shall monitor and inspect projects under their management. Inspection shall be carried out as follows:

a) Group B or higher level projects shall undergo at least one inspection;

b) Inspection shall be carried out if the location, objective or scale of the project is changed or total investment is increased.

3. State ownership representative agencies, authorities competent to decide use state capital for investment, investment authorities and specialized regulatory authorities shall monitor and inspect projects under their management.

4. Investment authorities, specialized regulatory authorities, supervisory authorities, state ownership representative agencies and authorities that have the power to decide to use state capital for investment shall decide to organize planned or ad hoc inspections of projects.

Article 63. Contents of supervision by investors

Every investor shall monitor and inspect the entire process of execution of their own project and make a report on the following issues:

1. Execution of the project: progress; amount and value of finished works; work quality; fluctuation during the project execution.

2. Implementation of the capital investment plan: raising capital for the project (state capital, equity, loans); disbursement (advance, advance withdrawal and payment); financial statement after the project is complete; outstanding debts accruing from capital construction activities (if any) and settlement thereof;

3. Project operation: investment results, information about employment, payment to state budget, investment in research and development, financial status of the enterprise, and other professional indicators depending on the business lines.

4. Satisfaction of regulations on environmental protection, use of land and natural resources as prescribed.

5. Implementation of the regulations laid down in the written approval for investment guidelines, investment registration certificate (if any) and decision on investment in the project.

6. Fulfillment of business investment conditions (if the business lines of the project is subject to certain conditions).

7. Investment incentives (if any).

8. Difficulties that arise during the operation of the project and results of resolution thereto.

Article 64. Contents of supervision by investment deciders

1. Monitoring contents:

a) Adherence to reporting regulations by investors;

b) Execution of the project: progress; implementation of the capital investment plan; disbursement, financial statement after the project is complete; outstanding debts accruing from capital construction activities (if any) and settlement thereof; difficulties that affect the project execution and results of resolution thereto;

c) Operation of the project; primary difficulties that arise affect project operation and results of resolution thereto;

d) Adherence to regulations on environmental protection, use of land and natural resources as prescribed;

dd) Performance of other tasks specified in decisions on investment in projects;

e) Implementation of measures by investors;

g) Proposed plans for resolving difficulties and issues beyond the competence as prescribed.

2. Inspection contents:

a) Adherence to regulations on supervision and assessment of investment; bidding; compensation for land clearance and relocation; use of capital and other resources; distribution of capital, disbursement, payment, statement of investment capital; settlement of difficulties that arise during the project execution; acceptance and inauguration of the project; management and operation of the project; environmental protection, use of land and natural resources (if any);

b) Project management;

c) Projects’ progress;

d) Management and operation of projects;

dd) Implementation of measures for resolving discovered issues.

Article 65. Contents of supervision by state ownership representative agencies and authorities competent to decide to use state capital for investment

1. State ownership representative agencies shall monitor the execution of projects and inspect the compliance with regulations of law on execution of investment projects by investors.

2. Competent authorities that have the power to decide to use state capital for investment shall monitor the execution of projects and inspect the compliance with regulations of law on use of state capital for of investment projects by investors.

Article 66. Contents of supervision by investment registration authorities and investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations by investors;

b) Project execution.

c) Project operation;

d) Adherence to regulations on environmental protection, use of land and natural resources as prescribed;

dd) Performance of other tasks specified in decisions on investment in projects.

2. Inspection contents:

a) Implementation of the regulations laid down in the written approval for investment guidelines and investment registration certificate (if any);

b) Projects’ progress;

c) Satisfaction of conditions for investment, incentives, investment assistance and investors’ adherence to their commitments (if any);

d) Adherence to regulations on supervision and assessment of investment and statistical reporting as prescribed;

dd) Implementation of measures for resolving discovered issues.

Article 67. Contents of supervision by specialized regulatory authorities

Specialized regulatory authorities shall, within their jurisdiction, supervise investment projects funded by non-public investment state capital as follows:

1. Monitoring contents:

a) Adherence to reporting regulations by investors in accordance with special legislation;

b) Adherence to regulations on environmental protection, use of land and natural resources as prescribed;

c) Implementation of measures by investors.

2. Inspection contents:

a) Conformity of investment projects with sectoral planning, urban planning and land use planning;

b) Adherence to regulations on environmental protection, technology, use of land and natural resources (if any);

c) Compensation, land clearance and land appropriation;

d) Application of and adherence to special legislation by projects.

Article 68. Assessment of projects funded by non-public investment state capital

1. Project assessment shall be carried out as follows:

a) PNS and Group A projects must undergo a midterm assessment, terminal assessment and impact assessment;

b) Group B projects must undergo terminal assessment and impact assessment;

c) In addition to the regulations mentioned in Point a and Point b of this Clause, the investment deciders, state ownership representative agencies and investment authorities shall decide other types of assessment prescribed in Clause 4 Article 3 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) Investors shall carry out the midterm assessment and terminal assessment;

b) Investment deciders shall carry out ad hoc assessment and impact assessment;

c) Investment authorities and state ownership representative agencies shall carry out various types of planned and ad hoc assessments of projects under their management.

3. Contents of assessment of projects shall comply with Article 73 of the Law on Public Investment.

Section 5. SUPERVISION AND ASSESSMENT OF PROJECTS FUNDED BY OTHER CAPITAL SOURCES

Article 69. Responsibility for project supervision

1. Investors and business entities shall monitor and inspect their own projects.

2. Investment registration authorities shall monitor and inspect projects under their management. Each project shall undergo at least one inspection.

3. Investment authorities and specialized regulatory authorities shall monitor and inspect projects under their management.

4. Investment authorities, specialized regulatory authorities, investment registration authorities shall decide to organize planned or ad hoc inspections of projects.

Article 70. Contents of supervision by investors

Each investor and business entity shall monitor and inspect their own projects and make a report on the following issues:

1. Progress of the project and achievement of its objectives.

2. Progress of contribution of capital, charter capital, and legal capital (if required).

3. Project operation: investment results, information about employment, payment to state budget, investment in research and development, financial status of the enterprise, and other professional indicators depending on the business lines.

4. Adherence to regulations on environmental protection, use of land and natural resources as prescribed.

5. Implementation of the regulations laid down in the decision on or written approval for investment guidelines and investment registration certificate (if any).

6. Fulfillment of business investment conditions (if the business lines of the project is subject to certain conditions).

7. Investment incentives (if any).

Article 71. Contents of supervision by investment registration authorities

1. Monitoring contents:

a) Adherence to reporting regulations by investors;

b) Project execution;

c) Project operation;

d) Adherence to regulations on environmental protection, use of land and natural resources;

dd) Implementation of measures by investors and business entities;

e) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Implementation of the regulations laid down in the decision on or written approval for investment guidelines and investment registration certificate (if any).

b) Progress of projects, including investment progress which consists of loan capital and achievement of objectives of projects;

c) Satisfaction of conditions for investment, incentives, investment assistance and investors’ adherence to their commitments (if any);

d) Adherence to regulations on supervision and assessment of investment and statistical reporting as prescribed;

dd) Implementation of measures for resolving discovered issues.

Article 72. Contents of supervision by investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations by investment registration authorities;

b) Implementation of measures by investment registration authorities;

c) The contents mentioned in Clause 1 Article 71 of this Decree.

2. Inspection contents:

a) Conformity of investment projects with relevant planning in accordance with the law on planning;

b) Issuance, adjustment and revocation of investment registration certificates by investment registration authorities as prescribed by law;

c) Regulations on incentives for investment projects;

d) Supervision, assessment of investment and investment assistance after issuance of investment registration certificates;

dd) Consolidation of reports on execution of investment projects;

e) The contents mentioned in Clause 2 Article 71 of this Decree.

Article 73. Contents of supervision by specialized regulatory authorities

Specialized regulatory authorities shall, within their jurisdiction, supervise investment projects funded by other capital sources as prescribed in Article 67 of this Decree.

Article 74. Assessment of projects funded by other capital sources

1. Responsibility to carry out project assessments:

a) Investors and business entities shall carry out terminal assessments of projects subject to approval for their investment guidelines;

b) Investment registration authorities and investment authorities shall carry out ad hoc assessments and impact assessments where necessary.

2. Contents of a terminal assessment:

a) Achievement of objectives, mobilized resources, punctuality, and benefits of the project;

b) Proposals and recommendations.

3. Contents of an impact assessment:

a) Operation of the project;

b) Socio-economic effects of the project;

c) Proposals and recommendations.

4. Contents of an ad hoc assessment:

a) Conformity of the project execution result with investment objectives;

b) Completeness of works in comparison with those in the decision on or written approval for investment guidelines and investment registration certificate (if any);

c) Unexpected difficulties (if any) and causes;

d) Impact of unexpected difficulties to the project execution and ability to achieve objectives of the project;

dd) Proposals and recommendations.

Section 6. SUPERVISION AND ASSESSMENT OF OUTWARD INVESTMENT PROJECTS

Article 75. Responsibility to supervise outward investment projects

1. Investors, investment deciders and state ownership representative agencies shall monitor and inspect the project execution according to the contents and criteria approved in the investment decisions.

2. Investment authorities and specialized regulatory authorities shall monitor and inspect projects under their management.

Article 76. Contents of supervision by investors

Each investor shall monitor and inspect their own projects and make a report on the following issues:

1. Performance of procedures for making outward investment.

2. Project execution: progress of the project and achievement of its objectives, capital raising and transfer of capital abroad, raising and use of state capital (if any) for outward investment.

3. Project operation: investment results, financial status of the business organization established overseas to execute the project; retention of profit for reinvestment, retention of profit for investment in new projects, transfer of profits to Vietnam; fulfillment of financial obligations to Vietnam; employment of Vietnamese workers.

4. Implementation of the Certificate of registration of outward investment.

5. Fulfillment of conditions for outward investment with regard to outward investment projects in the fields of banking, insurance, securities, press, radio, television and real estate trading.

Article 77. Contents of supervision of outward investment projects funded by state capital by investment deciders and state ownership representative agencies

1. Monitoring contents:

a) Adherence to reporting regulations by investors;

b) Project execution: progress of the project and achievement of its objectives, progress of transferring investment capital abroad; management, use, preservation and development of state capital as prescribed;

c) Investment results, financial status of the business entity established overseas to execute the project; transfer of profit to Vietnam;

d) Implementation of measures by investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Projects’ progress;

b) Adherence to regulations of law on use of state capital for outward investment;

c) Implementation of the Certificate of registration of outward investment;

d) Adherence to regulations of law on: transfer of capital abroad, sending Vietnamese workers abroad, transfer of profit to Vietnam, supervision and assessment of outward investment projects.

dd) Implementation of measures for resolving discovered issues.

Article 78. Contents of supervision by investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations by investors;

b) Project execution: progress of the project and achievement of its objectives, progress of transferring investment capital abroad;

c) Consolidation of results of outward investment;

d) Implementation of measures by investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

b) Projects’ progress;

b) Implementation of the decision or written approval for investment guidelines, certificate of registration of outward investment and other regulations of law on outward investment;

c) Implementation of measures for resolving discovered issues.

Article 79. Contents of supervision by specialized regulatory authorities

Specialized regulatory authorities shall, within their jurisdiction, supervise outward investment projects as follows:

1. Monitoring contents:

a) Execution of projects under their management: progress of projects and achievement of their objectives, progress of transferring capital abroad, raising and use of state capital for outward investment (if any);

b) Developments of outward investment activities under their management;

c) Fulfillment of conditions for outward investment with regard to outward investment projects in the fields of banking, insurance, securities, press, radio, television and real estate trading;

d) Implementation of measures by investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Adherence to regulations of law on: transfer of capital abroad, use of state capital for outward investment, sending Vietnamese workers abroad, transfer of profit to Vietnam and other regulations of law on outward investment;

b) Implementation of measures for resolving discovered issues.

Article 80. Assessment of outward investment projects

1. Responsibility to carry out project assessments:

a) Investors shall carry out terminal assessments;

b) State ownership representative agencies, investment deciders, specialized regulatory authorities and investment authorities shall carry out ad hoc assessments and impact assessments where necessary.

2. Contents of a terminal assessment:

a) Assessment of result of project execution compared to the Certificate of registration of outward investment: achievement of the project objectives; mobilized resources; project execution progress; economic effects of the project;

b) Proposals and recommendations.

3. Contents of an ad hoc assessment:

a) Conformity of the project execution result with investment objectives;

b) Completeness of works in comparison with those in the Certificate of registration of outward investment;

c) Unexpected difficulties (if any) and causes;

d) Impact of unexpected difficulties to the project execution and ability to achieve objectives of the project;

dd) Proposals and recommendations.

Chapter VII

OVERALL SUPERVISION AND ASSESSMENT OF INVESTMENT

Article 81. Responsibility for overall supervision and assessment of investment

1. Investment authorities shall carry out overall assessment, monitoring and inspection of investment within the scope of their management.

2. Specialized regulatory authorities shall carry out overall assessment, monitoring and inspection of investment within the scope of their management.

3. Investment registration authorities shall carry out overall assessment, monitoring and inspection of investment within the scope of their management.

4. State-owned enterprises shall carry out overall assessment, monitoring, and inspection of their own investment.

Article 82. Contents of overall investment monitoring

1. Promulgation of documents on guidelines for policies and law on investment.

2. Formulation, appraisal, approval and management of planning.

3. Formulation, appraisal and approval of investment guidelines.

4. Implementation of public investment plans as prescribed in Article 69 of the Law on Public Investment.

5. Formulation, appraisal, approval and execution of PPP projects.

6. Formulation, appraisal, approval and execution of investment projects funded by non-public investment state capital.

7. Management of investment projects funded by other sources of capital:

a) Attraction of investment, implementation of procedures for approving investment guidelines, issuance of investment registration certificates, management of execution of investment projects of foreign investors and foreign-invested business entities;

b) Implementation of procedures for approving investment policies and management of execution of investment projects funded by domestic private capital.

8. Investment supervision and assessment.

Article 83. Contents of overall investment inspection

1. Implementation of documents providing guidelines for policies and law on investment.

2. Progress of and compliance with regulations on formulation, appraisal, approval and management of planning.

3. Progress of and compliance with regulations on formulation, appraisal and approval of investment guidelines.

4. Implementation of public investment plans as prescribed in Article 69 of the Law on Public Investment.

5. Progress of and compliance with regulations on formulation, appraisal, approval and execution of PPP projects.

6. Progress of and compliance with regulations on formulation, appraisal, approval and execution of investment projects funded by non-public investment state capital.

7. Progress of and compliance with regulations on management of projects funded by other sources of capital.

8. Investment supervision and assessment.

Article 84. Contents of overall investment assessment

1. Consolidation, analysis and assessment of investment results of the economy in terms of scale, speed, structure, progress of and efficiency in investment.

2. Assessment of completion of tasks in comparison with those in the approved planning or planning task or with those completed in the previous period.

3. Assessment of public investment plans as prescribed in Article 70 of the Law on Public Investment.

4. Overall assessment of investment management.

5. Determination of factors and causes that affect the developments and results of investment; proposal for solutions for improving efficiency in investment in the current or next period.

Chapter VIII

PUBLIC SUPERVISION OF INVESTMENT

Article 85. The right to supervise investment of the public

1. Every citizen has the right to supervise investment projects via Public Investment Supervision Board; procedures for public supervision of investment shall comply with Article 75 of the Law on Public Investment and this Decree.

2. The Public Investment Supervision Board has the right to:

a) Request competent authorities to provide information about national planning, regional planning, provincial planning, urban planning, rural planning and other relevant planning prescribed by the law on planning and land use plans prescribed by the law on land;

b) Request relevant authorities to provide information about the issues under their management as prescribed by law;

c) Request program owners and project owners to provide information serving investment supervision: investment decision, information about the project owners and project management boards, address; investment progress and plan; land area used; detailed site plan and architectural plan; plan for land clearance, compensation and relocation; plan for waste treatment and environmental protection.

For programs/projects having contributions of the public, projects funded by commune budget or direct sponsorship for communes, apart from the aforesaid contents, the program owner/project owner also has the responsibility to provide additional information about the procedures, technical regulations, types and norms of supplies; result of acceptance and financial statements of the program/project;

d) Competent authorities, program owners and project owners shall provide the documents mentioned in Point a, Point b and Point c of this Clause to Public Investment Supervision Board.

3. Suspension of investment or operation of a project shall be proposed to a competent authority in the following cases:

a) It is suspected that violations are committed during the execution of the project which seriously affect manufacture, security, cultural – social life, and living environment of the community.

b) The project owner fails to publish information about the program/project as prescribed by law.

4. Results of public supervision of investment and handling measures shall be submitted to competent authorities.

Article 86. Contents of public supervision of investment

1. Contents of public supervision of investment programs/projects funded by state capital, and PPP projects:

a) Monitoring and inspection of conformity of the decision on investment guidelines and investment decision with planning and investment plans within communes as prescribed by law;

b) Monitoring and inspecting the project owner’s adherence to regulations on: land boundaries and land use; detailed site plan, architectural and construction plan; waste treatment and environmental protection; compensation, land clearance, compensation and relocation plan; investment plan and progress;

c) Execution and progress of programs and projects;

d) Discovery of acts that infringe upon public interests; negative impacts of projects to the living environment of the community during the investment stage or operation of projects;

dd) Discovery of act of wastefulness that causes loss of capital and property of projects;

e) Transparency during the investment process.

2. Contents of public supervision of investment in projects funded by other sources of capital shall comply with Point a, Point b, Point c, Point d and Point e Clause 1 of this Article.

3. Contents of public supervision of investment in programs/projects having contributions of the public, projects funded by commune budget or direct sponsorship for communes:

a) The contents mentioned in Clause 1 of this Article;

b) Monitoring, inspection of adherence to technical regulations and processes, norms and categories of supplies; monitoring and inspection of acceptance result and financial statement of projects.

Article 87. Organization of public supervision of investment

1. Vietnamese Fatherland Front Committees of communes shall:

a) Preside over establishing a Public Investment Supervision Board for each program/project. The Board consists of at least 05 people, including representatives of Vietnamese Fatherland Front Committee of the communes, inspectors, and representatives of the local community;

b) Formulate a plan for public supervision of investment in local programs and projects; notify the program owners, project owners and management board of the plan and composition of the Public Investment Supervision Board at least 45 days before commencement;

c) Instruct Public Investment Supervision Board to formulate an investment supervision program or plan as prescribed by law and this Decree; assist the Public Investment Supervision Board in communication, making and sending investment supervision reports;

d) Instruct and encourage the community to exercise their right to supervise investment as prescribed by this Decree;

dd) Verify feedback and complaints of Public Investment Supervision Board before notifying competent authorities.

2. Presidents of communal People’s Committee shall, within the capacity of the commune, provide a place for Public Investment Supervision Board to hold meetings and store documents serving public supervision of investment; enable it to use communication devices of communal People’s Committee for the purpose of public supervision of investment.

3. Public Investment Supervision Board shall:

a) Carry out investment supervision in accordance with the formulated program or plan; receive and send feedback from the people to competent authorities as prescribed by this Decree; receive and provide responses of competent authorities to the people;

b) Submit periodic or ad hoc reports on result of public supervision of investment to Vietnamese Fatherland Front Committee of the commune.

Chapter IX

COSTS OF INVESTMENT SUPERVISION AND ASSESSMENT

Article 88. Costs of and sources of capital for investment supervision and assessment

1. Costs of supervision and assessment of investment are the costs necessary for agencies, organizations and individuals to supervise and assess investment as prescribed by this Decree.

2. Sources of capital for investment supervision and assessment:

a) The costs of supervision and assessment of investment carried out by competent authorities shall be covered by their budgets and regular funding sources for supervision and assessment of investment according to their annual plans;

b) The costs of supervision and assessment of investment carried out by program owners, project owners and authorities signing PPP project contracts or organizations hired by such authorities shall be included in the total investment of the programs/projects;

c) The costs of supervision and assessment of investment carried out by operators shall be included in the costs of project operation;

d) The costs of public supervision of investment covered by the state budget according to annual plans of Vietnamese Fatherland Front Committees of communes shall be covered by the communes.

3. Maximum costs of investment supervision and assessment:

a) The cost of investment supervision carried out by a program owner, project owner or authority signing the PPP project contract is 10% of the program/project management cost;

b) The cost of investment assessment is expressed in percentage of the cost of management of a program/project in accordance with applicable regulations as follows: cost of initial assessment: 2%; cost of midterm assessment: 2%; cost of terminal assessment: 3%; cost of ad hoc assessment: 3%.

If the maximum cost is inappropriate or the program/project is on a large scale or it is necessary to hire a foreign consultant or domestic-foreign joint venture, a cost estimate shall be made to determine the cost.

4. The agencies, organizations, and individuals assigned to carry out supervision and assessment of investment in this Decree have the responsibility to use the state budget or other sources of capital for intended purposes and in an economical and efficient manner according to applicable regulations on financial management of the State and this Decree.

Article 89. Specific costs of supervision and assessment of investment

1. Costs of monitoring investment programs/projects:

a) Expenditures on stationery, supplies and equipment directly serving the monitoring of investment programs/projects;

b) Costs of communication directly serving the monitoring of investment programs/projects;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Costs of making periodic reports;

e) Costs of provision of training;

g) Cost of making and updating reports on investment supervision and assessment, and operating the investment supervision and assessment information system.

2. Costs of inspection of investment programs/projects:

a) Expenditures on stationery, supplies and equipment directly serving the inspection of investment programs/projects;

b) Costs of communication directly serving the inspection of investment programs/projects;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Travel costs (including luggage charges); allowance for accommodations during business trips;

e) Costs of making inspection result reports.

3. Costs of assessment of investment programs/projects:

a) Expenditures on stationery, supplies and equipment directly serving the assessment of investment programs/projects;

b) Costs of communication directly serving the assessment of investment programs/projects;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Travel costs (including luggage charges); allowance for accommodations during business trips;

e) Costs of making assessment result reports.

g) Costs of hiring experts and consultants.

4. Costs of overall investment supervision and assessment:

a) Expenditures on stationery, supplies and equipment directly serving the overall investment supervision and assessment;

b) Costs of communication directly serving the overall investment supervision and assessment;;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Travel costs (including luggage charges); allowance for accommodations during business trips;

e) Costs of making reports on overall investment inspection results;

g) Costs of making reports on overall investment supervision and assessment results;

h) Costs of hiring experts and consultants.

5. The costs of operating the investment supervision and assessment information system shall comply with Article 101 of this Decree.

6. Costs of public supervision of investment:

a) Costs of stationery and communication serving public supervision of investment;

b) Cost of photocopying, typing, sending documents and reports on public supervision of investment;

c) Administrative costs of meetings and conventions about public supervision of investment;

d) Costs of provision of training courses on public supervision of investment;

dd) Liability payment for members of Public Investment Supervision Boards.

Article 90. Management and use of funding for supervision and assessment of investment

1. Funding for supervision and assessment of investment by owners of public investment programs and owners of public investment projects shall comply with regulations on cost management of investment programs/projects.

2. Management and use of funding for supervision and assessment of investment by investment deciders, investors in projects funded by non-public investment state capital and regulatory authorities competent to conclude and execute PPP contracts shall comply with Clause 1 of this Article.

3. Funding for supervision and assessment of investment by investors in projects funded by other sources of capital: investors shall manage and use the funding for supervision and assessment of investment on a case-by-case basis.

4. Management and use of funding for supervision and assessment of investment by competent authorities.

a) Authorities in charge of supervision and assessment of investment shall make annual plans and estimates of costs of supervision and assessment of investment. The cost estimate shall be made according to the plan for supervision and assessment of investment, the specific costs mentioned in Article 89 of this Decree, and the limits prescribed by applicable regulations;

b) Funding for supervision and assessment of investment shall comply with regulations on management and use of sources of administrative and regular funding of competent authorities or the Law on State Budget;

c) In case an authority hires a consultancy to assess the program/project, the cost management in which case is the same as management of cost of consultancy services. Advance and payment for hiring a consultancy to assess the program/project shall comply with current regulations on management of payments for investment and construction consultancy.

5. Management and use of funding for public supervision of investment

a) Funding for public supervision of investment in a commune is included in the cost estimate of Vietnamese Fatherland Front Committee of the commune, which is covered by the commune budget. The minimum funding for public supervision of investment is VND 10 million per year and varies according to the plan for public supervision of investment made by the People’s Council of the commune.

The estimation, provision and statement of funding shall be done by Public Investment Supervision Board in accordance with regulations on management of commune budget and other financial activities of the commune;

b) Funding for propagation, provision of training courses, guidance and review of public supervision of investment of each district and province shall be included in the cost estimate of Vietnamese Fatherland Front Committee of the district/province and covered by the budget of the district/province.

6. The estimation and management of funding for supervision and assessment of investment shall comply with applicable regulations.

Chapter X

ORGANIZATION OF INVESTMENT SUPERVISION AND ASSESSMENT

Article 91. Responsibilities of the Ministry of Planning and Investment for supervision and assessment of investment

The Ministry of Planning and Investment, which is in charge of assisting the Prime Minister in organizing supervision and assessment of investment, shall:

1. Provide guidance, monitor and submit consolidated reports on nationwide investment supervision and assessment to the Prime Minister.

2. Organize overall investment supervision and assessment nationwide.

3. Organize and review supervision and assessment of programs and projects of which investment guidelines are decided or approved by the Prime Minister, the Government or the National Assembly.

4. Carry out supervision and assessment of projects under their management (including those assigned to inferior agencies).

5. Propose solutions for overcoming difficulties in investment of departments and local authorities or particular projects to the Prime Minister, relevant ministries and local authorities in order to ensure investment progress and efficiency.

6. Consider and offer opinions or resolve issues within its jurisdiction at the request of other ministries, local authorities and project owners.

7. Provide guidelines for investment supervision and assessment of foreign investment activities in Vietnam.

8. Perform other duties related to supervision and assessment of investment at the request of the Government or the Prime Minister.

Article 60. Responsibilities of other Ministries, ministerial agencies and Governmental agencies for supervision and assessment of investment

1. Organize overall investment supervision and assessment in the fields and sectors under their management.

2. Carry out supervision and assessment of projects within their competence to make decisions (including those assigned to inferior agencies).

3. Carry out supervision and assessment of investment projects of state-owned enterprises under their management.

4. Organize supervision and assessment of PPP projects under their management.

5. Carry out specialized supervision and assessment of fulfillment of investment conditions by the investment projects under their management.

6. Organize and review supervision and assessment of programs and projects of which investment guidelines are decided or approved by the Prime Minister, the Government or the National Assembly in the fields under their management.

7. Resolve the issues reported by other ministries and local authorities if they are within their jurisdiction.

8. Offer opinions or resolve issues within the jurisdiction of ministries and departments at the request of other ministries, local authorities, investors and project owners.

9. Submit reports on overall supervision and assessment of investment in the fields and sectors under their management and reports on supervision and assessment of investment projects subject to their decision in accordance with regulations.

10. Sufficiently, promptly and accurately update information on the investment supervision and assessment information system as prescribed in Article 101 of this Decree.

Article 93. Responsibilities of People’s Committees of provinces and central-affiliated cities for supervision and assessment of investment

1. Organize overall investment supervision and assessment within their provinces.

2. Carry out supervision and assessment of projects within their competence to make decisions (including those assigned to inferior agencies).

3. Carry out supervision and assessment of investment projects of state-owned enterprises under their management.

4. Carry out supervision and assessment of projects of which investment registration certificates are issued by them.

5. Organize supervision and assessment of PPP projects within their provinces.

6. Supervise the implementation of planning and plans for land use plan and environmental of projects in their provinces; offer opinions or promptly resolve issues related to land clearance and land use within their jurisdiction at the request of ministries and project owners.

7. Propose investment issues in their provinces related to the projects under their management to the Prime Minister, ministries and departments in order to promptly resolve difficulties and ensure investment progress and efficiency.

8. Submit reports on overall supervision and assessment of investment within their provinces and reports on supervision and assessment of investment projects subject to their decision in accordance with regulations.

9. Sufficiently, promptly and accurately update information on the investment supervision and assessment information system as prescribed in Article 101 of this Decree.

Article 94. Responsibilities of investment registration authorities for supervision and assessment of investment

1. Organize overall investment supervision and assessment and supervision and assessment of investment projects within their management.

2. Submit reports on overall supervision and assessment of investment and reports on supervision and assessment of investment projects under their management.

3. Sufficiently, promptly and accurately update information on the investment supervision and assessment information system as prescribed in Article 101 of this Decree.

Article 95. Responsibilities of state-owned enterprises for supervision and assessment of investment

1. Organize overall investment supervision and assessment within the enterprises.

2. Organize supervision and assessment of PPP projects they decide or under their management.

3. Submit reports on overall supervision and assessment of investment and reports on supervision and assessment of investment projects under their management in accordance with regulations.

4. Promptly and accurately update information on the investment supervision and assessment information system as prescribed in Article 101 of this Decree.

Article 64. Responsibilities of program owners, project owners, operators and investors for supervision and assessment of investment programs and projects

1. Owners of public investment programs, owners and operators of public investment projects, investors in and owners of investment projects funded by non-public investment state capital and investors in PPP projects have the responsibility to:

a) Carry out supervision and assessment of programs and projects in accordance with this Decree;

b) Formulate a framework for project supervision and assessment before commencement of the project;

c) Establish an internal communication system; collect and store sufficient information, data, documents of the project; reports of contractors, changes to state policies and laws, regulations of sponsors related to management of execution of projects (if funded by ODA);

d) Promptly report difficulties beyond their competence to superior authorities;

dd) Make reports on supervision and assessment of projects as prescribed;

e) Sufficiently, promptly and accurately update information on the investment supervision and assessment information system as prescribed in Article 101 of this Decree.

g) Take responsibility for contents reported and take legal responsibility for failure to report or provide accurate information about investment under their management.

2. Investors in projects funded by other sources of capital have the responsibility to:

a) Carry out supervision and assessment of projects in accordance with this Decree;

b) Establish an internal communication system; collect and store sufficient information, data and documents of the project; reports of contractors related to management of project execution;

c) Promptly report difficulties beyond their competence to the authorities;

d) Make reports on supervision and assessment of projects as prescribed;

dd) Sufficiently, promptly and accurately update the reports on the investment supervision and assessment information system as prescribed in Article 101 of this Decree;

e) Take responsibility for contents reported and take legal responsibility for failure to report or provide accurate information about investment under their management.

Article 97. Organization of investment supervision and assessment

1. Each ministry shall appoint an affiliated unit (Department level) to take charge of its investment supervision and assessment tasks; provide guidance on supervision and assessment of investment for other affiliated units and projects assigned to inferior agencies.

2. The Department of Planning and Investment of each province or central-affiliated city shall take charge of investment supervision and assessment tasks within the province or city, provide guidance on supervision and assessment of investment for affiliated units and projects assigned by the People’s Committee of the province or city to inferior agencies.

3. Each state-owned enterprise shall appoint a department to take charge of investment supervision and assessment tasks of the enterprise, provide guidance on supervision and assessment of investment for affiliated units.

4. Each program owner, project owner and operator shall assign the project management board or a department to take charge of investment supervision and assessment tasks of the projects under their management.

5. Each investor shall appoint the project management company or a department to take charge of investment supervision and assessment tasks of the projects under their management.

6. Supervision and assessment of investment in case an agency takes the roles of two or more of the following entities: public investment authority, investment authority, specialized regulatory authority, supervisory authority, state ownership representative agency, investment registration authority, investment decider, authority signing PPP contracts, program owner, project owner and operator:

a) The unit in charge shall perform all investment supervision and assessment tasks of the agency. Supervision and assessment tasks of the program owner, project owner or operator shall be performed by the representative unit of the program owner, project owner or operator;

b) Contents of supervision and assessment of investment shall integrate the supervision and assessment contents of assigned entities.

7. The units mentioned in Clause 1 through 6 of this Article shall carry out supervision and assessment of investment in the following manner:

a) Internal supervision and assessment of the investment program/project and overall investment supervision and assessment;

b) Hiring experts or a consultancy to carry out assessment of the program/project and overall investment assessment.

8. The hiring of experts or a consultancy to carry out assessment of the program/project and overall investment assessment shall comply with regulations of law on bidding.

Article 98. Duties and entitlements of agencies and units in charge of supervision and assessment of investment

1. The agencies and units assigned to carry out supervision and assessment of investment shall assist ministries, People’s Committees at all levels, enterprises, and investors in investment supervision and assessment as follows:

a) Make plans for monitoring, inspecting and assessing investment and organize investment monitoring, inspection and assessment within the assigned duties;

b) Assign departments and officials responsible for monitoring, inspecting and assessing investment and overall monitoring, inspection and assessment of investment;

c) Organize a system for provision and storage of information about investment within the ministry, local authority, enterprise or projects (for project owners) under their management;

d) Collect reports and relevant information to serve the investment monitoring, inspection and assessment;

dd) Consider, analyze information and reports; make and submit reports on supervision and assessment of investment in accordance with regulations to competent authorities.

2. Agencies and units in charge of supervision and assessment of investment are entitled to:

a) Request other agencies and units in charge of supervision and assessment of investment to report in accordance with regulations, provide information and documents about the contents of supervision and assessment of investment where necessary;

b) Discuss via telephone or on the site with other agencies and units in charge of supervision and assessment, investors and project owners to clarify the issues related to the monitoring, supervision and assessment.  When working on the site, it is required to have a specific working plan and relevant agencies and units must be informed in advance;

c) Request competent authorities to adjust the project if necessary, cancel the investment decision, suspend or terminate the execution of the project if serious violations are found during the process of supervision and assessment of investment. Report violations against regulations on supervision and assessment of investment committed by investors, project owners, relevant agencies and units to competent authorities and propose appropriate punitive measures.

3. Agencies and units in charge of investment supervision and assessment shall provide training to ensure the capacity for performing tasks and exercise entitlements at the agencies and units.

Article 99. Method and procedures for supervision and assessment of investment

1. The monitoring of investment programs and projects and overall investment monitoring shall be carried out in the following manners:

a) Regular monitoring on the site;

b) Monitoring via periodic and ad hoc reports;

c) Monitoring via both reports and on-site monitoring.

2. The program owner, project owner and investor shall regularly monitor the progress of the program/project and is responsible for the promptness and accuracy of the reports.

3. The investment decider and competent authorities shall monitor the programs and projects and carry out overall investment monitoring by consolidating, analyzing and assessing reports made by the program owner, project owner, investor, relevant agencies and units.

A monitoring team responsible for working on the site may be established to clarify relevant information where necessary.

4. Inspection, assessment of investment programs and projects and overall investment inspection and assessment shall be carried out in the following manners:

a) Via reports;

b) Via inspectorates and assessing delegations.

5. Procedures for monitoring an investment program/project:

a) Formulate and adjust the framework for supervision and assessment of the program/project;

b) Determine demand for information and indicators to be monitored;

c) Make a monitoring plan;

d) Establish a mechanism for assisting the monitoring tasks;

dd) Prepare the tools and IT system to assist the monitoring of the program/project;

e) Collect and analyze data;

g) Report monitoring results according to regulations.

6. Procedures for inspecting an investment program/project:

a) Make and submit the inspection plan;

b) Establish an inspectorate (if any);

c) Notify the inspection plan and request preparation of documents serving the inspection. The minimum time limit for document preparation is 20 days from the day on which the request is received;

d) Carry out the inspection. The maximum duration of an on-site inspection by an inspectorate is 20 days;

dd) Report the inspection result. The inspection result shall be reported within 20 days;

e) Notify the inspection result and conclude the inspection. The maximum duration is 10 days from the day on which the inspectorate’s report is received.

7. Procedures for assessing an investment program/project:

a) Make and submit the assessment plan;

b) Establish an assessing delegation (if any);

c) Notify the assessment plan and request preparation of documents serving the assessment;

d) Briefly describe the nature of the assessed program/project (make and adjust the assessment framework);

dd) Prepare a detailed assessment plan;

e) Collect and analyze data;

g) Report the assessment result;

h) Notify the assessment result.

8. Procedures for overall investment monitoring:

a) Determine demand for information and indicators to be monitored;

b) Make a monitoring plan;

c) Establish a mechanism for assisting the monitoring tasks;

d) Prepare the tools and IT system to assist the overall investment monitoring;

dd) Collect and analyze data;

e) Report the monitoring result according to regulations.

9. Procedures for overall investment inspection:

a) Make and submit the inspection plan;

b) Establish an inspectorate (if any);

c) Notify the inspection plan and request preparation of documents serving the inspection. The minimum time limit for document preparation is 30 days from the day on which the request is received;

d) Carry out the inspection. The maximum duration of an on-site inspection by an inspectorate is 30 days;

dd) Report the inspection result. The inspection result shall be reported within 30 days;

e) Notify the inspection result and conclude the inspection. The maximum duration is 10 days from the day on which the inspectorate’s report is received.

10. Procedures for overall investment assessment:

a) Determine the objectives, scope and content of assessment;

b) Make and submit the assessment plan;

c) Establish an assessing delegation (if any);

d) Notify the assessment plan and request preparation of documents serving the assessment;

dd) Collect and analyze data;

e) Report the assessment result;

g) Notify the assessment result.

Article 100. Reporting of investment supervision and assessment

1. The Ministry of Planning and Investment shall submit annual reports on overall investment supervision and assessment to the Prime Minister, including overall supervision and assessment reports, assessment of PNS and class A projects nationwide.

2. Ministries, local authorities and state-owned corporations shall make and submit the following reports to the Ministry of Planning and Investment:

b) Annual reports on overall supervision and assessment;

b) Annual reports on overall supervision and assessment of outward investment.

3. Investment registration authorities shall make and send annual reports on investment supervision and assessment to provincial People’s Committees.

4. Program owners, and owners of public investment programs and projects shall make and send the following reports to the investment deciders, supervisory authorities, and units in charge of supervision and assessment of investment:

a) Periodic supervision and assessment reports: 6-month report and annual report;

b) Supervision and assessment reports prior to adjustment of the program/project;

c) Supervision and assessment reports prior to completion of the program/project;

dd) Report on assessment of the program/project they execute;

d) Consolidated annual reports on supervision and assessment of the program/project they execute.

5. Operators of public investment projects shall make and submit the following reports to the investment deciders and agencies in charge of supervision and assessment of investment:

a) Annual reports on supervision and assessment of the project’s operation from the time the project is put into operation to the availability of the report on assessment of the project’s impact;

b) Report on assessment of the project’s impact.

6. Investors of projects funded by non-public investment state capital shall make and send the following reports to supervisory authorities, investment deciders, and agencies in charge of supervision and assessment of investment:

a) Periodic supervision and assessment reports: 6-month report and annual report;

b) Supervision and assessment reports prior to adjustment of the project;

c) Report on assessment of the project they execute;

d) Consolidated annual reports on supervision and assessment of the program/project they execute.

7. Investors executing PPP projects shall make and send the following reports to authorities signing project contracts and PPP investment authorities:

a) Periodic supervision and assessment reports: 6-month report and annual report;

b) Supervision and assessment reports prior to adjustment of the project;

c) Report on assessment of the project they execute;

8. Investors of projects funded by other sources of capital shall make and send the following reports to investment registration authorities and agencies in charge of investment supervision and assessment of the localities where such projects are executed:

a) Periodic supervision and assessment reports: 6-month report and annual report;

b) Supervision and assessment reports prior to adjustment of the project;

c) Terminal report (if any);

9. Investors of outward investment projects shall make and send the following reports to the Ministry of Planning and Investment, the State Bank of Vietnam, the Ministry of Finance, state ownership representative agencies, People’s Committees of provinces and Departments of Planning and Investment of provinces where their head offices are located and Vietnam’s representative agencies in the countries that receive investment:

a) Periodic supervision and assessment reports: 6-month report and annual report;

b) Supervision and assessment reports prior to adjustment of the project (if the adjustment of the project results in adjustment of the investment registration certificate);

c) Terminal report.

10. Reports on public supervision of investment:

a) Public Investment Supervision Boards shall submit quarterly reports on public supervision of investment in local programs and projects to Vietnamese Fatherland Front Committees of communes. Public Investment Supervision Boards shall report the violations or submit other proposals to Vietnamese Fatherland Front Committees of communes during the process of supervision;

b) Vietnamese Fatherland Front Committees of communes shall submit annual reports on result of public supervision of investment to People’s Councils and People’s Committees of communes, and Vietnamese Fatherland Front Committees of districts and provinces;

c) Vietnamese Fatherland Front Committee of each province shall make and send annual reports on result of public supervision of investment in the province to the Department of Planning and Investment, the People’s Council and the People’s Committee of the same province.

11. Deadline for reporting supervision and assessment of investment:

a) Every program owner, project owner and investor shall submit:

- a 6-month report before July 10 of the reporting year;

- an annual report before February 10 of the succeeding year;

- a report before adjusting the program/project.

b) Every investment registration authority shall submit an annual report before February 20 of the succeeding year.

c) Every ministry, local authority and state-owned enterprise shall submit an annual report on overall supervision and assessment before March 01 of the succeeding year.

d) Deadlines for submitting reports on public supervision of investment:

- Public Investment Supervision Boards shall submit reports before the 10th of the first month of the next quarter;

- Vietnamese Fatherland Front Committees of communes shall submit annual reports before February 10 of the succeeding year;

- Vietnamese Fatherland Front Committees of provinces shall submit annual reports before February 20 of the succeeding year.

dd) The Ministry of Planning and Investment shall submit consolidated reports on investment supervision and assessment to the Prime Minister before March 31 of the succeeding year.

12. Report contents shall comply with regulations in Chapters VI, VII and VIII of this Decree.

13. The Ministry of Planning and Investment shall provide templates of reports on supervision and assessment of investment.

Article 101. Investment supervision and assessment information system

1. “Investment supervision and assessment information system” (hereinafter referred to as “the System”) means a system implemented nationwide and managed by the Ministry of Planning and Investment in order to update and store information, supervise, assess, analyze and publicize information in accordance with regulations on investment programs and projects nationwide.

2. General use regulations:

a) The monitoring, supervision and assessment of investment projects shall be carried out on the System; reports on the System will replace physical reports;

b) Regarding annual reports on overall nationwide investment supervision and assessment, the Ministry of Planning and Investment shall only aggregate data reported by agencies on the System;

c) The report data shall be updated in a sufficient, accurate and timely manner. Organizations and individuals shall take responsibility for the accuracy of data reported and updated by them on the System.

d) Organizations and individuals using the System shall use the Government’s specialized digital signatures for signature and submission of reports on the System;

dd) Forms serving the reporting of investment supervision and assessment shall be digitalized on the System and such forms shall be published on the national investment supervision and assessment information portal;

e) Regulations laid down in this Article shall not apply to projects subject to the state secret requirement.

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

a) Log-in accounts must be managed in a concentrated manner on the System developed by the Ministry of Planning and Investment.

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

c) Application for registration for use of accounts to have access to the System shall be submitted online on the system at the website address https://taikhoan.mpi.gov.vn. Information must be updated to grant permission for registration of use of accounts shall include:

- Information of the authorized individual account user: full name, ID Card/Citizen ID Card number; mobile number; email;

- Information about the institutional account user: Name of the institution; information about the institution’s head: full name, ID Card/Citizen ID Card number, mobile number, email; photocopy of the decision on establishment of the institution.

d) Main accounts of Ministries, central and local government authorities shall be used for verifying account sign-up information of project regulatory authorities, owners and management boards under their control.

dd) Users must change their first passwords within 01 day of successful registration of their accounts. They shall be prohibited from disclosing their passwords to any person unauthorized for access to or input of updated information on the System. In case of changing the account user, the account recipient must change their password and information about the person authorized to manage and use the account on the System.

4. Regulations on information updating and reporting by investors, owners and owners of component projects:

a) When a program or a project is approved for investment: update information about the program and project in accordance with the decision on investment guidelines and decision on investment on the System within 07 working days from the date of approval of such decision.

b) During project execution:

The following information shall need to be updated at least 07 working days after any adjustment:

- Approval of project adjustment;

- Approval and adjustment of the technical design or shop drawing design and cost estimate;

- Approval and adjustment of the contractor selection plan and result;

- Contract, adjustments to the contract;

- Appropriated capital plan;

- Acceptance value, disbursement value;

- Information about assessment and inspection;

- Reports on project supervision and assessment.

Information shall be updated monthly (as the case may be):

- Images or videos about current construction on the site for projects with a construction constituent.

Documents shall be enclosed with scanned copies or electronic documents bearing specialized digital signature on the System, including:

- Decision on/Approval for investment guidelines, Decision on adjustment of investment guidelines (if any);

- Decision on investment/Adjusted decision on investment (if any);

- Decision on approval for technical designs or shop drawing designs, cost estimate; Decision on adjustment of technical designs or shop drawing designs, cost estimate (if any);

- Decision on approval for contractor selection plan, Decision on approval for adjustment of contractor selection plan (if any);

- Report on assessment result;

- Report on inspection result.

c) Information shall be updated monthly:

- Current execution and disbursement of investment capital;

- Images or videos about current construction on the site for projects with a construction constituent.

d) On a quarterly basis, consolidate information on the System and make reports on investment supervision and assessment by project owners and owners of component projects and submit them to competent authorities via the System.

dd) Submit annual consolidated annual reports on supervision and assessment of investment programs and projects under their management via the System.

e) When a program or a project is ended: update information about the cost statement in accordance with the decision on approval for the statement within 07 working days from the date of approval.

5. Regulations on reporting by regulatory authorities:

a) Implement, urge and instruct project owners and owners of component projects under their management to update information on the System as prescribed in Clause 4 of this Article,

b) Submit annual reports on overall supervision and assessment on the System.

6. Costs of making and updating reports and operating the System:

a)The costs of making and updating reports and operating the System shall be included in the total investment of a project and in the costs of investment supervision and assessment of the project, and vary according to established norms.

b) The Ministry of Finance shall provide guidance on making estimates and managing funding for making and updating reports and operating the System.

7. Regulations on building and implementation of the System:

a) The Ministry of Planning and Investment shall build and manage operation of the System nationwide in terms of investment supervision and assessment;

b) Ministries, local authorities and state-owned enterprises shall implement the System at the ministries, local authorities and state-owned enterprises.

8. Regulation on integration and sharing of data:

a) The State Treasury has the following responsibility:

- Share and integrate report data and report the disbursement by each investment project to form a basis for reporting the implementation of the public investment plan by authorities on the System;

- The sharing, integration and reporting on the System will replace physical documents.

b) The Ministry of Planning and Investment shall integrate and share data between systems to ensure the consistency of information and data between the investment supervision and assessment information system and the systems: public investment information system, investment information system and national bidding network system.

Article 102. Processing results of supervision and assessment of investment

1. Ministries and local authorities must examine and resolve issues and complaints of investment supervision and assessment agencies, program owners, project owners, operators and investors within 15 days from the day on which the request is received if such issues are within their competence, and report the issues that beyond their competence.

2. When adjusting a program/project, the competent authority must consider the result of inspection and assessment of the program/project as prescribed in this Decree. If the project is subject to inspection and assessment before the adjustment, the competent authority is only allowed to adjust the investment guidelines, investment program/project or investment registration certificate after inspecting and assessing the program/project as prescribed in this Decree.

3. Results of supervision and assessment of investment are the basis for competent authorities to select investors in the next years.

4. Results of terminal assessment of a project are the basis for competent authorities to approve cost statement.

5. Results of assessment of impacts of programs and projects are the basis for competent authorities to consider deciding investment in similar programs and projects.

Article 103. Actions against violations pertaining to supervision and assessment of investment

1. Any entity that attempts to conceal violations or commits other violations shall, on a case by case basis, incur disciplinary or administrative penalties or criminal prosecution, and pay compensation for any damage caused.

2. Penalties for administrative violations pertaining to supervision and assessment of investment shall comply with regulations of law on penalties for administrative violations against regulations on planning and investment.

3. If investors of public investment programs and projects and projects funded by non-public investment state capital fail to comply with regulations on reporting, the head of the agency/unit in charge of the program/project, head of the project management board, and officials assigned to carry out supervision and assessment of investment must take the following punitive actions:

a) Reprimand if reports are not submitted for 2 consecutive periods or for 3 intermittent periods;

b) Warning if reports are not submitted for 3 consecutive periods or for 4 intermittent periods.

4. In case of violations against regulations on reporting, capital shall only be disbursed after penalties are imposed as prescribed in Clause 2 and Clause 3 of this Article and reports shall be submitted completely.

5. Actions against violations against regulations on investment management during the process of supervision and assessment of investment:

a) The agencies carrying out supervision and assessment of investment shall promptly reports violations committed by entities under their management to competent authorities;

b) Any agency that attempts to conceal the violations shall be jointly responsible for the violations and consequences.

6. Every year, according to summary reports and proposals of investment supervision and assessment agencies, ministries and local authorities shall consider imposing the following penalties upon program owners, project owners and investors that commit violations against regulations on supervision and assessment of investment:

a) Reprimand, warning;

b) Replacement of the program owner or project owner;

c) Refusal to appoint them as owners of other projects.

7. Every year, the Ministry of Planning and Investment shall:

a) Propose penalties upon ministries and local authorities that fail to submit reports on overall investment supervision and assessment or fail to submit them on schedule, or the reports submitted are not satisfactory;

b) Submit a report on actions against violations against regulations on supervision and assessment of investment to the Prime Minister.

Chapter XI

IMPLEMENTATION CLAUSE

Article 104. Transitional provisions in respect of projects which are under execution, or are faced with issues related to criteria of PNS

1. Projects under execution mean projects in which decisions on investment has been granted or those in which certificates of registration of investment have been granted.

2. As for projects which are under execution but meet criteria of a PNS under the provisions of Article 7 of the Law on Public Investment, Article 12 of the Law on Public – Private Partnership Investment and Article 30 of the Law on Investment, follow the instructions below:

a) Execution of these projects shall be continued; investors and project owners shall send review reports to the person making investment decisions or the investment registration authority;

b) The person vested with authority to grant an investment decision or the investment registration authority shall report to the Prime Minister for his review and direction of reporting to the National Assembly at its year-end meeting on the process of execution of such projects;

c) Management of the projects stated in this Clause shall be consistent with regulations laid down in decisions on investment, certificates of investment registration which have been issued; decisions on investment or certificates of investment registration (if any) which were been previously adjusted, and relevant regulations of law.

3. As for projects under execution which are subject to any change and of which changes fall under criteria of PNS under the provisions of Article 7 of the Law on Public Investment and Article 12 of the Law on Public – Private Partnership Investment, follow the instructions below:

a) Execution of these projects shall be continued according to the contents approved by competent authorities (without resulting in any change); project owners and investors shall send reports on any issues that fall under criteria of PNS to the person making investment decisions;

b) Procedures for adjusting investment guidelines of projects and projects shall be consistent with applicable regulations at the time of adjustment in the similar manner to those applied to projects or groups of projects existing prior to adjustments;

c) The person making investment decisions shall report to the Prime Minister for his review and direction of reporting to the National Assembly at its year-end meeting on the process of execution of such projects, including the issues that fall under criteria of PNS;

d) Management of projects stipulated in this Clause shall be consistent with regulations of law on PNS.

4. The reporting of execution of PNS as prescribed in Clauses 2 and 3 of this Clause and Clause 8 Article 79 of the Law on Public Investment shall be carried out using the form in the Appendix hereof.

Article 105. Transitional provisions on investment supervision and assessment

1. Periodic reports on investment supervision and assessment of 2020 shall continue to be made as prescribed in the Government’s Decree No. 84/2015/ND-CP and Decree No. 01/2020/ND-CP.

2. Regarding programs and projects whose investment supervision and assessment costs have been determined or approved by a competent authorities as prescribed in the Government’s Decree No. 84/2015/ND-CP and Decree No. 01/2020/ND-CP, they shall continue to be executed or the investment supervision and assessment costs shall be re-determined as prescribed in this Decree.

Article 106. Effect

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

2. From the effective date of this Decree, previous regulations contrary to those laid down in this Decree and the following regulations shall cease to have effect:

a) Government’s Decree No. 131/2015/ND-CP dated December 25, 2015;

b) Government’s Decree No. 02/2020/ND-CP dated January 01, 2020;

c) Government's Decree No. 84/2015/ND-CP dated September 30, 2015;

d) Government’s Decree No. 01/2020/ND-CP dated January 01, 2020;

Article 107. Responsibility for implementation

1. Ministers, heads of ministerial agencies, heads of Governmental agencies, Presidents of People’s Committees of provinces and central-affiliated cities, heads of political organizations, socio-political organizations and socio-political-professional organizations, and relevant organizations and individuals are responsible for the implementation of this Decree.

2. The Ministry of Planning and Investment shall preside over and cooperate with relevant ministries in providing guidelines for the implementation of this Decree.

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