Nghị định 254/2025/NĐ-CP quy định về quản lý, thanh toán, quyết toán dự án sử dụng vốn đầu tư công

DECREE

ON MANAGEMENT, DISBURSEMENT, PAYMENT AND STATEMENT OF PROJECTS USING PUBLIC INVESTMENT CAPITAL

Pursuant to the Law on Government Organization No. 63/2025/QH15;

Pursuant to the Law on Promulgation of Legislative Documents No. 64/2025/QH15 amended by the Law No. 87/2025/QH15;

Pursuant to the Law on State Budget No. 89/2025/QH15;

Pursuant to the Law on Public Investment No. 58/2024/QH15 amended by the Law No. 90/2025/QH15;

Pursuant to the Law on Land No. 31/2024/QH15;

Pursuant to the Law on Bidding No. 22/2023/QH15 amended by the Law No. 57/2024/QH15;

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Pursuant to the Law on Planning No. 21/2017/QH14 amended by the Law Medical Examination No. 15/2023/QH15, Law on Price No. 16/2023/QH15, Law on Water Resources No. 28/2023/QH15;

Pursuant to the Law on Public Debt Management No. 20/2017/QH14;

Pursuant to the Law on Construction No. 50/2014/QH13 amended by the Law No. 62/2020/QH14;

Pursuant to the Law on Overseas Representative Missions of the Socialist Republic of Vietnam No. 33/2009/QH12 amended by Law No. 19/2017/QH14;

At the request of the Minister of Finance;

The Government promulgates the Decree on management, disbursement, payment and statement of projects using public investment capital.

Chapter I

GENERAL REGULATIONS

Article 1. Scope

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1. Management and disbursement of public investment capital in:

a) State budget-funded tasks and projects including those using local government budget for projects that are managed by central authorities.

b) Public investment tasks and projects funded by legitimate revenue that state regulatory authorities and public service providers retain for investment purposes.

2. Statement of state budget-derived public investment capital in the budgetary year (annual statement).

3. Statement of public investments in completed projects including tasks and projects (hereinafter referred to as “projects”) prescribed in clause 1 of this Article that are completed, or suspended, cancelled, terminated (hereinafter referred to as "discontinued") according to written documents stating permission for discontinuation issued by persons having competence in ratifying investment decisions.

For projects, construction works, items of work partially or wholly funded by public investment capital: The statement thereof shall be identically subject to the regulations laid down herein, except that of those governed by particular regulations imposed by the Government or the Prime Minister.

For projects funded by contributions in kind, working days or completed works, the statement thereof shall be based on unit costs of physical/material objects, working days or value of completed works which are used for calculating the accounting value of works and projects for monitoring and administrative purposes.

Projects funded by public investment capital existing in the form of building materials and other kinds of physical objects, Ministries, central authorities and provincial People’s Committees shall set out specific regulations on the statement of portions of financial grant or aid, depending on actual condition of implementing units and state regulatory authorities.

4. Procedures and processes for controlling payment and statement of projects funded by ODA and concessional loans shall comply with this Decree. Procedures for funds withdrawal and funds withdrawal management shall comply with regulations of the Government on management and disbursement of ODA and concessional loans.

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5. This Decree shall not prescribe the management, payment and statement of public investment capital (except for cases where other regulations of the Government prescribe the implementation in accordance with this Decree) which are used as:

a) Subsidies on preferential lending interest rates, management fees; equity contributions to policy banks and off-state budget financial funds; financial support for investment of other policy beneficiaries under the Prime Minister’s decisions. The management, payment and statement for prescribed entities shall comply with specific regulations of the Government.

b) Capital allocation for lending under preferential credit programs of the central government budget provided by banks for social policies.

c) State budget funding for enterprises that make agricultural and rural development investments in accordance with regulations of the Government.

d) Local government budget for implementation of preferential credit policies provided by branches in provinces/cities of banks for social policies.

dd) Financial support from public investment capital sources for investment of policy beneficiaries under national target programs.

e) Public investment capital for repayment on the funding advanced from the land development fund (the management and payment of public investment capital for repayment on the funding advanced from the land development fund shall comply with the Government’s Decree on land development fund).

Article 2. Regulated entities

This Decree shall apply to organizations and persons involved in or related to the management, payment and statement of projects using public investment capital as prescribed in Article 1 of this Decree.

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1. State regulatory authorities in charge of management, payment and statement of projects using public investment capital include the Government, the Ministry of Finance, financial authorities at all levels and authorities assigned or authorized to manage, pay and finalize projects using public investment capital that are prescribed in legislative documents or documents issued by competent authorities.

2. State-secret public investment project means a public investment project funded by the state budget classified by the grade of secrecy such as Confidential, Secret, and Top Secret on the list of State secrets in accordance with the Law on Protection of State Secrets.

3. Disbursement of domestic public investment capital means the advancing and paying for the completed works (including payment for recovery of advances) with respect to tasks and projects upon the investor's request. Disbursement of foreign capital in accordance with the Government’s Decree on management and disbursement of ODA and concessional loans.

4. Advance payment means the transfer of money in advance to the individual and institutional beneficiary at the request of the investor to make necessary preparations for the implementation of activities involved in a project.

5. Payment for completed works means the transfer of money to an individual or institutional beneficiary (or payment for recovery of an advance) at the investor’s request for payment for the value of the quantity already carried out, tested and accepted by the parties as a partially or fully completed work according to a contract or agreement. In particular, payment of investment project insurance costs for the completed works means the payment of obligations arising in the contract already in effect. Payment of costs of appraisal, review and approval of cost estimate means the payment to the body in charge of appraisal, review of the statement upon the investor’s written request.

6. State budget-controlled foreign capital includes official development assistance (ODA), concessional loans (including foreign loans of which statement is subject to the domestic financial mechanism).

7. Domestic capital means state budget capital (excluding foreign capital prescribed in clause 6 of this Article) and legitimate revenues of state regulatory authorities, public service providers for investment as prescribed by laws on public investment.

Chapter II 

MANAGEMENT AND DISBURSEMENT OF PUBLIC INVESTMENT CAPITAL

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1. State Treasuries shall disburse state budget-derived public investment capital and legitimate revenue retained by the state regulatory authority for investing purposes.

2. Public service providers shall take control and disburse capital from legitimate revenues that they retain for investment purposes.

3. Authorities authorized by the Ministry of National Defense and Ministry of Public Security shall take control and disburse capital in state-secret public investment projects of the Ministry of National Defense and Ministry of Public Security. The Ministry of National Defense and Ministry of Public Security shall notify the authorization to the Ministry of Finance.

Article 5. Account opening

1. Opening payment accounts for state budget-derived public investment capital::

a) Investors in projects using state budget-derived public investment capital (including investors of component projects) shall open accounts at State Treasuries where it is convenient to perform transactions. Managing authorities may act on behalf of investors (if investors are not in Vietnam) to sign up for their accounts for use in public investment projects in foreign countries that are funded by the state budget for payment purposes.

b) Signing up for an account for payment purposes shall comply with the Government's regulations on administrative procedures regarding state treasury and those of the Ministry of Finance on guidelines for signing up and using accounts opened at State Treasuries.

2. Opening accounts for disbursement of capital in state-secret public investment projects of the Ministry of National Defense and Ministry of Public Security:

a) The Ministry of National Defense and Ministry of Public Security shall open accounts at State Treasury to receive capital disbursed by state budget for state-secret public investment projects of the Ministry of National Defense and Ministry of Public Security.

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3. Opening accounts for disbursement of capital derived from legitimate revenues retained by state regulatory authorities and public service providers for investing in public investment projects shall comply with Article 24 herein.

Article 6. Public investment management and disbursement principles

1. Management and disbursement of public investment capital in projects shall serve correct purposes and managed/receiving subjects in accordance with regulations on management of public investments and state budget, applicable laws and regulations herein; ensure efficiency, economy, transparency and prevention of loss and waste.

2. Investors, superiors to investors and financial authorities at all levels shall perform correct responsibilities and powers in accordance with regulations on management and disbursement of public investment capital.

3. For public investment projects in foreign countries:

a) Signed contracts, current domestic law of host countries, international treaties to which the Socialist Republic of Vietnam is a member, and the current domestic law of the Socialist Republic of Vietnam serve as the legal basis for management and disbursement of investments in public investment projects in foreign countries.

b) Managing bodies shall act on the investor’s behalf to request and carry out payment transactions related to public investment capital with payment bodies.

4. Total disbursed capital for projects shall not exceed the total investment amount approved or adjusted by competent authorities.

5. The amount of public investment capital in implementing works or items of work in projects in a year shall not be greater than the budgeted amount in a year for each project (including the previous-year budget approved by competent authorities for extension of implementation and disbursement into the following year, as well as advances from the following-year budget estimate for each project).

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In cases where the contract summary includes provisions on advances but the investor does not request an advance and instead requests payment for completed works, the payment body shall perform accordingly.

7. For expenses calculated on a percentage basis (%) as prescribed by laws, payment bodies shall perform as requested by investors.

8. Payment bodies shall disburse public investment capital based on information in legal dossiers, advance payment dossiers and payment dossiers as prescribed in this Decree.                                                                                                                                                           

9. Payment bodies of state-secret public investment projects of the Ministry of National Defense and Ministry of Public Security shall take control, disburse public investment capital to beneficiaries upon the investor’s request, and take responsibility for control and disbursement under their duty.

10. Methods for transaction at payment bodies:

a) For transactions carried out via State Treasuries’ system, they shall comply with regulations in this Decree.

b) For transactions carried out via other payment bodies, they shall comply with regulations of payment bodies where they take place. 

Section 1. MANAGEMENT AND DISBURSEMENT OF STATE BUDGET-DERIVED PUBLIC INVESTMENT CAPITAL

Article 7. Annual budget allocation

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Upon receipt of the budget plans assigned by the competent authorities (including those assigned at the beginning of the budgetary year, modifications and supplements in the budgetary year; advances for the following-year budget estimate), ministries, central authorities, People’s Committees at all levels or local first-line budget units (if they are delegated or authorized to allocate the budget) shall take the following required steps:

a) Prepare the detailed budgets of state budget allocations available for public investment in specific projects according to the criteria set out in Form No. 01.a/PB, make adjustments to such detailed budgets (if any) according to the criteria set out in Form No. 01.b/PB appended hereto, and submit to same-level financial authorities.

b) Set the budget targets to be followed by investors; assign the detailed budgets fully satisfying criteria according to the Form No. 01.a/PB, and the updated detailed budgets (if any) fully satisfying the criteria set out in the Form No. 01.b/PB to investors for their compliance; and submit them to payment bodies where transactions are made.

c) The deadline for allocation shall comply with laws on state budget and public investment.

2. Same-level financial authorities shall review the budget allocation of first-line budget units as prescribed by the Law on State Budget. The review shall comply with laws on state budget and public investment.

3. Ministries, central authorities, financial authorities at all levels and state treasuries shall input and approve detailed budgets of state budget allocations for investment on the treasury and budget management information system within their jurisdiction and in accordance with applicable laws.

Article 8. Dossiers on capital disbursement for projects

1. Legal dossiers of projects (originally sent when transacting with payment bodies; when there is any change, modification or supplementation) include:

a) Annual public investment plan commissioned by competent authorities.

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c) Written permit of competent authorities for autonomous implementation (if this is the case and it is not available in the decision or written document stating assignment of the planning mandate of competent authorities, except for cases where investors are permitted for autonomous implementation), written documents stating task assignment or internal fixed rate document (where appropriate).

d) The contract summary for cases carried out under contracts (Form No. 02.a/TT) (the investors shall prepare the summary according to valid contracts and take responsibility for such summary).

dd) Cost estimate summary for cases not carried out under contracts (Form No. 02.b/TT) (the investors shall prepare the summary according to approved cost estimates and take responsibility for such summary); and the annual revenue and expenditure estimates of the investor or project management unit approved by competent authorities in cases where the annual revenue and expenditure estimates of the investor are approved by competent authorities (Form No. 01/QD-QLDA, Form No. 02/QD-QLDA in Circular No. 70/2024/TT-BTC dated October 01, 2024 of the Ministry of Finance).

e) Summary of compensation, support, and resettlement information (Form No. 02.c/TT) (the investors, units and organizations shall carry out the compensation, support, and resettlement in accordance with the plans for compensation, support, and resettlement approved by competent authorities or Decisions on investment projects for compensation, support, and resettlement; and take responsibility for the summary).

g) For the project management units, units or organizations performing compensation and site clearance: Decision to grant financial autonomy issued by competent authorities (for units given financial autonomy which is not prescribed in the founding decision); and the unit founding decision.

2. Advance payment dossiers (sent as attached to each request for advance payment) include:

a) Disbursement request (Form No. 04.a/TT).

b) Funds withdrawal form (Form No. 05/TT).

Proof of advance payment guarantee (original or certified true copy as prescribed by laws) that is required if advance payment guarantee is an obligation stipulated in clause 2 of Article 9 herein.

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a) For the quantity of works completed under the contract:

(i) Disbursement request (Form No. 04.a/TT).

(ii) Funds withdrawal form (Form No. 05.a/TT).

(iii) Written request for recovery of advances (where appropriate, using Form No. 04.b/TT).

(iv) Chart showing completed works (Form No. 03.a/TT).

b) For the works completed without being subject to any contract:

(i) With respect to compensation, support and residential resettlement, payment dossier shall include disbursement request (Form No. 04.a/TT); money transfer proof (Form No. 05/TT); written request for recovery of advances (where relevant, using Form No. 04.b/TT); chart showing completed compensation, support and residential resettlement works (Form No. 03.b/TT).

(ii) In other cases where works are completed without being subject to any contract (including project management costs in cases where the project management unit or the investor directly manages a project; costs to ensure the organization and implementation of compensation, support, and resettlement), payment dossier shall include disbursement request (Form No. 04.a/TT); funds withdrawal form (Form No. 05.a/TT), written request for recovery of advances (where relevant, using Form No. 04.b/TT); chart showing completed works (Form No. 03.a/TT).

c) Dossiers on payment of costs of the construction of works (including construction of homes used for residents moving to other places due to project site clearance) intended for payment for compensation, support and residential resettlement shall comply with clause 1; clause 2; points a, b, d and dd, clause 3 of this Article.

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dd) For insurance or audit contracts, inspection, review and statement of approval fees, payment dossier shall include disbursement request (Form No. 04.a/TT); funds withdrawal form (Form No. 05.a/TT).

4. For dossiers of projects classified as part of national target programs:

Legal dossier, advance dossier, payment dossier of the project classified as part of the national target program shall comply with clauses 1, 2 and 3 of this Article. For small-scale projects developed using uncomplicated techniques, receiving both state financial support and public contributions (i.e. small-scale group-C projects), if they are financed by funds of the national target program under the management of the commune-level People's Committee, legal dossier shall include:

a) Annual public investment plan commissioned by competent authorities.

b) The contract summary for cases carried out under contracts (Form No. 02.a/TT) (the investors shall prepare the summary according to valid contracts and take responsibility for such summary).

c) Written document stating approval of the estimate of pre-investment costs that is issued by competent authorities attached with the summary of the estimate of pre-investment costs (Form No. 02.b/TT) (for pre-investment tasks); written document stating approval of construction documents that is issued by commune-level People’s Committees (for project execution tasks).

5. Dossiers on withdrawals from deposit accounts of transaction units that are controlled by payment bodies shall comply with clauses 1, 2 and 3 of this Article.

Dossiers on withdrawals from deposit accounts that payment bodies do not need to control include payment order (Form No. 05.b,c,d,e/TT).

6. For dossiers on project management expenses in cases where a project management unit or investor directly manages multiple projects:

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Payment dossier (payment of project management costs from the budget account to the deposit account) shall include disbursement request (Form No. 04.a/TT); funds withdrawal form (Form No. 05.a/TT); written request for recovery of advances (where relevant, using Form No. 04.b/TT); Decision on approval of statement of the completed project or chart showing distribution of project management expenses (Form No. 09/QLDA); chart showing completed works (Form No. 03.a/TT).

Dossier on project management costs from the deposit account (sent on demand for advance payment) includes payment order (Form No. 05.b/TT).

7. Dossiers on recovery of advance funding include:

a) Annual public investment plan commissioned by competent authorities for recovery of advance funding.

b) Written request for recovery of advance issued by the investor (Form No. 04.c/TT).

8. Dossiers on projects related to science and technology; innovation; digital transformation:

a) Annual public investment plan commissioned by competent authorities (in which the subjects shall be clearly identified projects related to science and technology; innovation; digital transformation) (originally sent when transacting with payment bodies; when there is any change, modification or supplementation).

b) Request for withdrawal of funds (Form No. 04.d/TT)/Payment order (Form No. 05.b,c,d,e/TT).

9. In cases where the payment dossier of the project submitted by the investor does not satisfy the requirements and the information as prescribed in this Decree, the payment body shall refuse payment. No later than 02 working days from the receipt of the dossier, the payment body shall issue a written notification stating the reasons for refusal, and send to the investor for completion and supplementation in accordance with this Decree.

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1. Advance payment principles:

a) For contract-based works:

Advance payment shall comply with the requests of the investors and the summary prepared by the investors. The investors are responsible for requesting for advances in accordance with the following principles:

(i) Advance payment may proceed after entry into force of contracts and investors are provided with the guarantee for advance on contract value from contractors (where the guarantee for advance is required) whose value is equal to the amount of advance disbursement. In particular, with respect to construction contracts, where site clearance is required, the plan for site clearance or the record of (partially or wholly) cleared site handover that site clearing organizations provide for investors under contractual arrangements must be in place.

(ii) Amount, time of first-time advance, and other arrangements regarding protection for recovery of advances as prescribed in clause 5 of this Article which is agreed upon between investors and contractors in accordance with regulations must be specified in contracts and keep up with the investment.

(iii) Based on the demands for advance payment, investors may make one-off or instalment advance payment under a contract on condition that total advance payment does not exceed the amount of advance payment prescribed in contracts and is restricted to the maximum amount of advance payment as prescribed by laws (for construction contracts).

(iv) Investors shall work with contractors to calculate and determine the amount of advance payment in accordance with clause 3 of this Article; necessary methods to manage the utilization of the advance to ensure that the advance serves agreed-upon purposes, beneficiaries, is effective, and take responsibility to recover the amount of advance disbursement as prescribed by laws.

b) For non-contractual works:

Advance payment shall comply with the requests of the investors and the budget estimate summary prepared by the investors. The investors are responsible for requesting for advances in accordance with the following principles:

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Based on the demands for advance payment, investors may make one-off or instalment advance payment, and ensure to fully recovers the advance in accordance with clause 5 of this Article 5.

(iv) Investors shall work with contractors to calculate and determine the amount of advance disbursement in accordance with clause 3 of this Article; necessary methods to manage the utilization of the advance to ensure that the advance serves agreed-upon purposes, beneficiaries, is effective, and take responsibility to recover the amount of advance disbursement as prescribed by laws. Investors shall manage the utilization of the advance to ensure that the advance serves agreed-upon purposes, beneficiaries, is effective, and take responsibility to recover the amount of advance disbursement as prescribed by laws.

2. Guarantee or security for advance disbursement:

a) For contracts where the amount of advance payment is greater than 01 billion VND, the guarantee for the advance disbursement must be in place:

Investors shall send payment bodies the guarantee for the advance on the contract sum provided by contractors or suppliers in the corresponding currency type which is equal to the amount of advance payment before payment bodies’ transfer of such advance to investors as a prerequisite for advance payment available for use by contractors or suppliers.

The amount of guarantee provided for an advance is reduced in proportion to the amount of advance payment recovered by each payment transaction between the client and contractor. Investors shall assure and undertake that the value of guarantee for advance payment corresponds to the remaining amount of advance.

The validity period of the guarantee for advance payment may be extended until the investor fully recovers the advance and must be specified in contracts and proofs of guarantee for the advance payment. Where the guarantee is expired, the investor shall make a request or urge the investors to submit application for extension of the guarantee for advance payment to payment bodies. Investors shall supervise the validity period of the guarantee.

b) Exceptions from the requirement for provision of the guarantee for advance payment:

(i) For contracts with the amount of advance on the contract sum which is less than or equal to 01 billion VND, contractual agreements shall be carried out in accordance with laws on bidding and construction.

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(iii) Project management consulting service contracts.

(iv) Non-contractual works, compensation, support and residential resettlement work (except where building work is needed).

(v) Advances against costs of project management boards that is given to investors or project management boards.

For cases where an advance guarantee is not required as prescribed above, in the event of risks arising where the advance cannot be recovered, the investors and relevant organizations or individuals are responsible for reimbursing the state budget in accordance with laws on state budget and relevant laws.

3. Amounts of advance:

a) The amount of advance may vary according to the plan, the progress of mandate or project implementation, and the progress of compensation, support, and resettlement. For construction contracts, the amount of advance on the contract shall comply with construction laws.

b) The maximum amount of advance proposed by the investor shall not exceed the amount prescribed in the contract summary or the budget estimate summary (for non-contractual works).

c) For compensation, support, and resettlement: the amount of advance proposed by the investor, unit, or organization responsible for carrying out the compensation, support, and resettlement tasks shall not exceed the amount prescribed in the summary of the compensation, support, and resettlement plan. The investor, unit, or organization responsible for these tasks shall directly disburse compensation, support, and resettlement payments based on the compensation, support, and resettlement plan approved by competent authorities to the beneficiaries. In cases where the investor withdraws the estimated budget for compensation, support, and resettlement to transfer to the unit or organization responsible for implementing these tasks for payment, the unit or organization must open a deposit account at payment bodies to receive the advance transferred by the investor for disbursement.

d) For project management costs: the amount of advance shall not exceed the approved project management cost estimate and the annual project management revenue and expenditure estimate approved by competent authorities (in cases where the annual project management revenue and expenditure estimate of the investor or project management unit is approved by competent authorities). The investor is responsible for ensuring sufficient project management costs to organize and implement project management until the project’s investment capital statement is approved as prescribed by laws.

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5. Recovery of advances:

a) For cases not prescribed in points b, c and, clause 5 of this Article: advance shall be recovered by payments for completed contractual works (as prescribed in the contracts) or by approved cost estimates for non-contractual works (at the requests of investors); fully recovered when total disbursement reaches 80% of the contract value or budget estimate. In cases where multiple main contractors jointly participate in a consortium, the advance shall be fully recovered when the total disbursement reaches 80% of the contract value for each contractor. The payment bodies shall recover the advance based on the contract summary and the budget estimate summary.

b) For compensation, support and residential resettlement: After paying beneficiaries, investors, units and organizations responsible for compensation, support and residential resettlement shall collect evidencing documents, proceed to make payment and recover advances within 30 days from the date of advance payment at the payment bodies.  The procedures for recovering advances shall be carried out without waiting until the entire compensation, support, and resettlement plan is completed.

For advance funding against general and administrative costs of compensation, support and residential resettlement work: investors, units and organizations responsible for compensation, support and residential resettlement shall prepare the chart showing completed works (Form No. 03.a/TT) and submit to payment bodies to carry out the recovery of advance. Investors, units and organizations responsible for compensation, support and residential resettlement are responsible for the accuracy and legitimacy of the requested payment value. In cases where the total paid amount exceeds the approved statement cost for organizing the annual implementation of compensation, support, and resettlement (if any), the investors, units, or organizations responsible for carrying out compensation, support, and resettlement shall return the excess amount to the state budget.  

c) For project management expenses: The investors and project management units shall prepare the chart showing completed works (Form No. 03.a/TT) and chart showing distribution of project management expenses (Form No. 09/QLDA) (in cases where a project management unit or investor directly manages multiple projects) to submit to payment bodies as a basis to carry out procedures for recovery of advance. Investors shall not be required to submit documents evidencing payments or invoices to payment bodies, and shall be responsible for the accuracy and legitimacy of the completed works and requested payment value according to the approved cost estimate.

The chart showing distribution of project management expenses (in cases where a project management unit or investor directly manages multiple projects) shall be prepared on a quarterly, six-monthly and year-end basis by the investor or project management unit.

The chart showing distribution of project management expenses (in cases where a project management unit or investor directly manages multiple projects) shall be prepared on a quarterly, six-monthly and year-end basis by the investor or project management unit.

d) For contracts for procurement of machinery and equipment that are not under construction contracts as prescribed by construction laws: Based on the contract summary prepared by the investors, the full amount of advance must be recovered when works are completed as agreed upon in these contracts.

6. Inspection and review of recovery of advance:

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b) By the 3^rd of the first month in the following quarter, units and organizations responsible for compensation, support and residential resettlement shall prepare the report on advance payment and recovery of advance for investment for each project (Form No. 08.a/SDTU) and submit to payment bodies where transactions occur, investors and investor's superiors clearly stating reasons, difficulties and obstacles during the recovery of the overdue balance of advance (if any) as well as recommended solutions.

By the 5^th of the first month in the following quarter, investors shall prepare the review report on advance payment and recovery of advance for investment for each project (Form No. 08.a/SDTU) and submit to payment bodies where transactions occur, investor's superiors and local financial authorities at all levels (regarding the funds managed by each level) clearly stating the balance of advance that has not yet been recovered till the reporting time, reasons, difficulties and obstacles during the recovery of the overdue balance of advance (if any) as well as recommended solutions.

Based on the review report on advance payment and recovery of advance for investment of investors, ministries, central authorities and local authorities shall direct and urge investors, units and organizations responsible for compensation, support and residential resettlement to take actions to recover advance funding including late payment on advance.

c) On a six-monthly and annual basis, by July 10 in the budgetary year and by February 28 in the year succeeding the planning year, based on the review report on advance payment and recovery of advance for investment of investors, regional state treasuries shall make a review report on advance payment and recovery of advance for investment of ministries, central authorities and local authorities to submit to local financial authorities at all levels (regarding the capital managed by each level) and the State Treasury in accordance with Form No. 08.b/SDTU attached to this Decree.

The State Treasury shall submit review report on advance payment and recovery of advance for investment of ministries, central authorities and local authorities to the Ministry of Finance within 15 days from the deadline of submitting report of regional payment authorities.

d) Deadline for recovery of advance:

(i) For the works carried out under contracts: If advance is late for recovery for more than 03 months from the due date of recovery stipulated in the contract during which the contractor has not yet used it for executing the project, or misuses it, the investor shall take charge of or cooperate with payment bodies in recovering advance to the state budget. Where the investor has not recovered the advance yet, payment bodies shall request the investor in writing to recover advance from the contractor, or request the credit institution to issue the guarantee for recovery of advance to fulfill their guarantee obligations when the contractor violates their commitment for use of advance to the investor.

(ii) For compensation, support and residential resettlement:

In cases where holders of the repossessed land, owners of the property refuses to receive compensation or financial support, or the repossessed land or property is in dispute, units and organizations responsible for compensation, support and residential resettlement shall transfer the entire amount of advance to their deposit accounts opened at commercial banks in which the State holds controlling shares with a non-term interest rate; report to the investors the deposited amount at suck banks according to each decision on approval of compensation, support, and resettlement plan, the amounts corresponding to holders/owners who do not receive the money or whose land/property is currently in dispute. The investors and organizations responsible for compensation, support, and resettlement shall be accountable to the law for determining the amount of money to be deposited in commercial banks in cases where holders of the repossessed land, owners of the property refuses to receive compensation or financial support, or the repossessed land or property is in dispute.

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(iii) For other non-contractual works, if the advance is late for recovery for the period of 06 months from the advance payment date during which the investor has not recovered the advance yet, the payment body shall request the investor in writing to repay the advance, except when the competent authority (the cost estimate approver) allows extension of the time limit for recovery of advance for completing works due to objective causes, or in case where advance payment for project management is paid to specialized or regional project management authorities. Within 03 months after the date of mandatory repayment of advance, if the investor has not refunded the advance, the payment body may withdraw money from the investor’s deposit account to remit such sum to the state budget, reduce the amount already disbursed for use by the project and notify this action to the investor.

Article 10. Payment for completed works

1. For contract-based works:

a) The payment shall comply with the request of the investors and the contract summary prepared by the investors. The investors responsible for requesting the payment shall comply with the following principles: payment for completed works made according to contracts must rely on the contract type, value and contractual terms and conditions; investors shall be responsible for complying with requirements for application of contract prices under applicable laws; adjustment of contract shall comply with applicable contract laws.

b) Where it is mandatory to temporarily suspend the contractor from receiving a specific amount of money or a particular percentage of payment compared to the completed works for the purpose of statement for investment capital in the completed project, the investor must seek to reach agreement with the contractor and then such agreement must be clarified in the contract. The amount kept in the temporary custody as stated above shall be transferred to the deposit account that the investor opens at the State Treasury for management and statement purposes in accordance with regulations.

2. For works carried out without being subject to any binding contract, payment shall be made according to the chart showing completed works and the budget estimate summary. Investors shall be responsible for the accuracy and legitimacy of the amounts involved in disbursement requests according to the approved estimate of costs of works performed relevant to specific types of work.

3. For fees for appraisal, review and approval of statement: The investors shall request for payment of fees for appraisal, review and approval of statement based on the written request of the authority in charge of appraisal and review of statement.

4. For the completed projects, if the amounts of capital that is equal to the amounts stated in the approved statements have not yet been disbursed in full for them after obtaining consent to the statement for investment capital in these projects, payment bodies shall consult the decision on approval of the cost estimate and budgeted investment capital assigned in the year of a project to control disbursement of capital to the project.

Article 11. Management, disbursement, recovery and statement of state budget advances for the succeeding year

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2. Managing authorities shall allocate state budget advances for the succeeding year to projects on the permissible investment portfolios and at the amounts authorized by competent authorities. The process for checking the apportionment and payment of state budget advances for the succeeding year shall be carried out in the same manner as state budget-derived public investment capital authorized by competent authorities according to the budgetary year’s budget.

3. Ministries, central authorities, financial authorities at all levels and payment bodies (State Treasury) shall enter and approve the state budget advances for the succeeding year on Tabmis within their jurisdiction and in accordance with applicable laws.

4. The deadline for utilization of the state budget advances for the succeeding year shall be subject to the same regulations as those applied to time limits for disbursement of the budgetary year’s state budget-derived public investment capital if the advance on the succeeding year’s budget for use as such capital is authorized by competent authorities. In special cases where the Prime Minister is vested with authority to decide the time limit for utilization of the advance on central budget-derived funding, the Presidents of People’s Committees at all levels are accorded authority to decide the time limit for utilization of the advance on local budget-derived funding under their respective jurisdiction. All of the time limits shall not be later than December 31 in the following year.

Upon expiry of the deadline for availability and payment, the remaining amounts of advance funding shall be treated in the same manner as the budgetary year’s state budget-derived public investment capital.

5. Recovery of advance: Managing authorities shall allocate funds for projects in the succeeding year’s state budget estimate available for use as recovery of advance. Managing authorities and payment bodies shall carry out regulatory procedures for recovery of the advance from the budgeted amounts authorized by competent authorities in the budgetary year.

a) For central budget-derived advance: Where any ministry or central authority fails to provide or inadequately provides the minimum budget for recovery of the advance according to the decision to assign the annual plan issued by the Prime Minister, the Ministry of Finance shall issue a written notification to request ministries and central authorities to make an adequate budget available for recovery of the advance in accordance with regulations. Within 10 days after receipt of the written notification from the Ministry of Finance, if they fail to provide the budget in full for recovery of the advance according to the plan assignment decision of the Prime Minister, the Ministry of Finance shall report to the Prime Minister and request payment bodies in writing to temporarily suspend payment for the project failing to meet the requirement for recovery of advance pending the Prime Minister's directives.

b) For local budget-derived advance or targeted transfers from the superior budget to the inferior budget: Where first-line local budget units fail to provide or inadequately provide the budget for recovery of the advance in accordance with regulations, local financial authorities at all levels shall issue the written notification to these units so that they arrange to recover the advance in accordance with regulations. Within 10 working days after receipt of the written notification from financial authorities, if these units fail to arrange to recover the budget according to the budget assignment decision, local financial authorities at all levels shall report to the same-level People’s Committees and request payment bodies in writing to temporarily suspend payment for the project failing to meet the requirement for recovery of the advance pending the directives of the same-level People's Committees.

7. Statement of advance: The advance recovered in the budgetary year shall be subject to the statement in that year provided that such statement is in line with the plan for recovery of the advance approved by competent authorities.

Article 12. Regulations on deadline for advance payment and payment of annual capitals and deadline for control and payment of capital of payment bodies

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The annual capital for a project may be disbursed in advance till end of December 31 in the planning year (except in case of advance for compensation, support and residential resettlement, the advance payment is made till end of January 31 in the year following the planning year).

2. Regarding deadline for payment for completed works:

The annual capital for a project shall be disbursed for completed works successfully tested till end of December 31 in the planning year by end of January 31 in the year following the planning year (including paying for recovery of the advance).

3. In case of extension of the time limit for disbursement of capital as per the Law on State Budget, the Law on Public Investment and other written documents providing instructions about implementation of laws currently in force of the Government, the deadline for disbursement shall be subject to the competent authority’s decision.

4. The deadline for capital disbursement shall be within 03 working days of receipt of a full set of disbursement request documents from investors as prescribed in this Decree.

The deadline for disbursement of advances shall be within 01 working day of receipt of all documents required herein.

Article 13. Particular regulations for management and disbursement of capital for foreign-funded projects

1. Dossiers on payment/disbursement of capital for projects:

a) Legal dossier of the project (originally sent when transacting with payment bodies; when there is any change, modification or supplementation) shall comply with clause 1, Article 8 of this Decree.

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For aids, it is required to include a certified true copy of original Decision on approval of program or project documents; or Decision on investment in program or project and program or project documents; or approved feasibility study report; a certified true copy of original specific international treaty or specific agreement on ODA grants or exchange documents regarding ODA grants (for ODA grants) or certified true copy of original exchange documents on commitment and receipt of aids (for aids classified as unofficial development assistance).

b) Advance payment and disbursement dossiers shall comply with Article 8 of this Decree.

In case where contracts prescribe the use of a temporary payment certificate to replace the chart of completed works, units must send temporary payment certificates validated by project owners and contractors.

In case of confirmation given at the State Treasury, and payments made at service banks, in addition to the above documents, project owners shall not be required to send funds withdrawal form.

2. Project investors (owners) shall make the statement of expenditures and ensure that foreign capital disbursement is lawful according to the principle that each disbursement confirmation is applicable to a disbursement only.

3. For the method of withdrawing funds and transferring them to the special account, the project investor (owner) shall report on expenditures and send the letter of transmittal to return proofs of these expenditures on a monthly basis. Time limit for returning proofs of expenditures from the special account to the Ministry of Finance shall not exceed 06 months. After the 6-month time limit, if the investor (project owner) does not return these proofs, the method of direct disbursement for subsequent disbursements shall be applied. 

Section 2. MANAGEMENT AND DISBURSEMENT OF CAPITAL FOR PATICULAR PUBLIC INVESTMENT PROJECTS FUNDED BY STATE BUDGET 

Article 14. Capital management and disbursement regulations for state-secret public investment projects

1. Those comprise state-secret public investment projects that are determined according to laws on protection of state secret and construction (excluding state-secret public investment projects of the Ministry of National Defense and the Ministry of Public Security).

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3. Disbursement dossier of a state-secret public investment project shall include the following documents:

a) Annual public investment plan commissioned by competent authorities (originally sent when transacting with payment bodies; when there is any change, modification or supplementation).

b) Disbursement request (sent as an attachment to each disbursement request, using Form No. 04.a/TT).

c) Funds withdrawal form (applied to advance dossier and payment dossier, using Form No. 05.a/TT)

d) Written request for recovery of advance (where appropriate, using Form No. 04.b/TT).

dd) Written request for recovery of advance (where appropriate, using Form No. 04.c/TT).

4. Payment bodies shall consider the completeness and information as prescribed in clause 3 of this Article to make payment for beneficiaries without controlling other content in the dossiers of investors or legal representatives of investors.                                                                                                                                                    Managing authorities and investors or legal representatives of investors shall bear full responsibility to control the submitted dossier and details about capital disbursement to the projects.

5. The management, disbursement/payment and recovery of state budget advances for the succeeding year, implementation of the reporting regime towards assessment of implementation of plans, receipt and utilization of capital, confirmation of the capital amount in a year, amount of capital accumulated from the project commencement date to end of the state-budgetary year for specific projects, and compliance with regulatory financial policies, shall be the same as those in projects using public investment capital referred to in Section I, Chapter II herein.

Article 15. Capital management and disbursement regulations for state-secret public investment tasks and projects of the Ministry of National Defense and the Ministry of Public Security

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a) The Ministry of National Defense and Ministry of Public Security shall provide the chart of annual capital allocation for public investment to state-secret projects to the Ministry of Finance for its pre-disbursement review, as well as send them to their authorized authorities in charge of control and disbursement of capital (payment bodies) as a basis for capital disbursement.

b) Matters relating to the capital allocation, checking of capital allocation and attached documents concerning public investment capital allocation shall comply with clause 2 of Article 114 herein.

2. Disbursing state budget-derived public investment capital:

a) Depending on the project progress according to the investor’s progress report, payment bodies send the written request for disbursement of capital to the Ministry of Finance (Form No. 10/CT).

b) The Ministry of Finance checks the legitimacy of the disbursement request prescribed in point a of this clause. If disbursement conditions are satisfied, the Ministry of Finance shall issue the disbursement order to the Ministry of National Defense or the Ministry of Public Security for submission to the State Budget.

c) In view of the disbursement order received from the Ministry of Finance, the State Treasury sets aside state budget funds and transfers these funds to the accounts of the Ministry of National Defense or the Ministry of Public Security opened at the State Treasury. Where the disbursement order is invalid or illegal, within 01 working day of receipt of the disbursement order, the State Treasury must notify this situation to the Ministry of Finance to seek its possible action.

d) For public investment projects funded by local budget that are managed by ministries and central authorities: Based on Resolutions of People's Councils, decisions on capital plan allocation of provincial People’s Committees, Departments of Finance shall transfer capital to the accounts of the Ministry of National Defense or the Ministry of Public Security opened at the State Treasury. Authorities authorized by the Ministry of National Defense or the Ministry of Public Security to control and disburse capital for state-secret public investment projects of the Ministry of National Defense and the Ministry of Public Security shall control the disbursement as prescribed by applicable laws and regulations in this Decree.

dd) By end of January 31 in the year succeeding the planning year, the residual capital on the account of the Ministry of National Defense or the Ministry of Public Security must be repaid to the state budget (except where competent authorities allow an extension of the deadline for capital disbursement).The Ministry of National Defense or the Ministry of Public Security shall be accountable for management and control of the utilization of state budget capital; and inspection, handling and explanation of state-secret public investment projects within jurisdiction of the Ministry of National Defense and the Ministry of Public Security.

3.  Advancing and disbursing capital in the budgetary year by investors:

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b) Payment bodies proceed to control and disburse capital to respective projects according to the investor's request dossier.

c) Legal dossiers, advance payment, disbursement dossiers; regulations on advance payment and recovery of advance; regulations on disbursement for completed works; deadline for advance payment and disbursement of annual capital and deadline for control and disbursement of capital shall comply with Article 9, 10, 11 and 13 herein.

4. Management, disbursement, recovery and statement of state budget advances for the succeeding year:

a) Upon receipt of the competent authority’s consent on state budget advances for the succeeding year, the Ministry of National Defense or the Ministry of Public Security allocates advance authorized by competent authorities according to the permissible investment portfolio and at the allowable levels.

b) The Ministry of National Defense or the Ministry of Public Security sends the allocation of state budget advances for the succeeding year to the Ministry of Finance and regulatory payment bodies in order for them to proceed to take disbursement actions.

c) The management, recovery and statement of state budget advances for the succeeding year shall comply with regulations as applied to state budget-funded public investment capital prescribed in Article 11 herein. Checking allocation, transferring money by disbursement orders, advancing and recovering advance and disbursing advance on state budget advances for the succeeding year shall be subject to clause 1, 2 and 3 of this Article.

Article 16. Emergency public investment projects, emergency construction works using public investment capital, temporary works, special public investment projects

1. Emergency public investment projects, emergency construction works using public investment capital, temporary works, special public investment projects shall comply with laws on public investment and construction.

2. Advance payment:

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b) Dossiers on advance payment for emergency public investment projects, emergency construction works using public investment capital and special public investment projects include:

(i) Annual public investment plan commissioned by competent authorities (originally sent when transacting with payment bodies; when there is any change, modification or supplementation).

(ii) Decision on approval of investment project or decision on approval of technical and economic report (for projects subject to the only requirement for preparation of economic-technical report) issued by competent authorities, and decisions on modification of projects (if any); or Order or document on approval of the construction of an emergency project issued by competent authorities (originally sent when transacting with payment bodies; when there is any change, modification or supplementation).

(iii) The contract summary for cases carried out under contracts (Form No. 02.a/TT); the Cost estimate summary for cases not carried out under contracts (Form No. 02.b/TT). Where it is mandatory to receive capital in advance without any contract or cost estimate, the consent to such advance payment shall be obtained from persons having competence in issuing investment decisions;

(iv) Disbursement request (Form No. 04.a/TT).

(v) Funds withdrawal form (Form No. 05/TT).

(vi) Letter of advance payment guarantee (where such guarantee is required as prescribed in clause 2 of Article 9 herein).

c) Advance payment dossier on temporary works shall comply with clause 2 of Article 8 herein.

3. Disbursement for completed works:

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4. The management, advancing, disbursement, recovery and statement of state budget advances for the succeeding year shall comply with Article 12 herein. In particular, dossiers on advance payment for emergency public investment projects, emergency construction works using public investment capital, special public investment projects shall comply with point b, clause 2 of this Article.

Section 3. MANAGEMENT AND DISBURSEMENT OF CAPITAL FOR OVERSEAS PUBLIC INVESTMENT PROJECTS FUNDED BY STATE BUDGET 

Article 18. Checking of annual capital allocation

1. Matters relating to allocation and checking of capital allocation for public investment projects in foreign countries that are funded by the state budget shall comply with Article 8 herein and Form No. 01.a.nn/PB (for capital allocation) and Form 01.b.nn/PB (for capital allocation adjustment).

2. The payment body in charge of overseas public investment projects is the State Treasury.

3. Managing authorities, financial authorities at all levels and payment body shall enter and approve the budgets of the state budget for public investment annually on Tabmis in accordance with applicable laws.

Article 18. Legal dossiers of projects

The managing authority shall originally send the legal dossier when transacting with payment bodies; when there is any change, modification or supplementation). To be specific:

1. The dossier on construction, reconstruction, renovation and expansion projects shall comply with clause 1, Article 8 of this Decree.

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a) Annual public investment plan commissioned by competent authorities.

b) Decision on approval of the investment project issued by the competent authority, and decisions on project adjustment (if any).

c) Agreement in principle on purchase of real property which is used as a basis for payment of deposits (if any).

d) The summary of house or land purchase and sale contract (Form No. 02.a/TT) (the investors shall prepare the summary according to valid contracts, signed agreements and take responsibility for such summary).

3. The dossier on combined projects for purchase of land, houses, construction, reconstruction, renovation and expansion shall comply with clauses 1 and 2 of this Article.

4. For projects on hiring of real property during the long term (above 30 years) for construction purposes, the dossier includes:

a) Annual public investment plan commissioned by competent authorities.

b) Decision on approval of an investment project (or Decision on approval of a technical and economic report on projects subject to only one requirement for preparation of economic-technical reports), issued by a competent authority, and decisions on modification of projects (if any).

c) Written agreement in principle on rental of real property which is used as a basis for payment of deposits (if any).

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dd) The contract summary for cases carried out under contracts (Form No. 02.a/TT) (the investors shall prepare the summary according to signed contracts and take responsibility for such summary).

e) The summary of estimate of costs for cases not carried out under contracts (Form No. 02.b/TT) (the investors shall prepare the summary according to approved estimate of costs and take responsibility for such summary).

Article 19. Advance payment and recovery of advance

1. Advance payment and recovery of advance for overseas public investment projects funded by the state budget shall be subject to Article 9 herein.

a) In cases where contracts are executed under the host country’s domestic law, if there is any conflict between foreign law and Vietnamese law in terms of advance payment, recovery of advance and guarantee for advance on the contract sum, the signed contract shall be applied.

b) In cases where the laws of the host country do not provide regulations, for specific cases with special characteristics that require advance payment, recovery of advance and guarantee for advance on the contract sum different from Article 9 of this Decree, the managing authority shall review, decide and regulate details in the contract. The advance payment, recovery of advance \ and guarantee for advance shall comply with terms in the signed contract. The managing authority shall bear full responsibility for its decisions.

c) For cases prescribed in points and b, clause 1 of this Article, the payment body shall make the advance payment based on the request of the managing authority but shall not exceed the budgeted amount in a year for each project (including the previous-year capital plan approved by competent authorities for extension of implementation and disbursement into the following year, as well as state budget advances for the succeeding year for each project).

2. Advance payment dossier:

a) Written request for advance on investments specific to works of the managing authority (specify advance amount, account and beneficiary);

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Article 20. Payment for completed works

1. For works carried out under contracts, the payment shall be carried out in accordance with the requests of the investors and the contract summary prepared by the investors (Form No. 02.a/TT). The investors are responsible for requesting for payment in accordance with the following principles:

The payment of contractual obligations must be relevant to contract types, values and contractual terms and conditions. The investors shall comply with requirements for application of contract prices under applicable laws.

In cases where contracts are executed under the host country’s domestic law, if there is any conflict between foreign law and Vietnamese law, the payment shall comply with the signed contracts.

2. For works carried out without being subject to any binding contract, payment shall be made according to the chart showing completed works and the budget estimate summary. Investors shall be responsible for the accuracy and legitimacy of the amounts involved in disbursement requests according to the approved estimate of costs of works performed relevant to specific types of work.

3. When wishing to receive capital disbursement, investors may send managing authorities the following documents (where each disbursement occurs):

a) For construction, reconstruction, renovation and expansion of projects: Chart of completed works under the contract (Form No. 03.a/TT, or any other form used for determining works that is accepted for use in the contract having overseas validity); disbursement request (Form No. 04a.nn/TT); request form for recovery of advance (where relevant, using Form No. 04.b/TT).

b) For projects on purchase or rental of real property in the long term (above 30 years): If payment (including payment of deposits, if any) is made under the real property sale and rental contract, investors shall send the managing authorities the disbursement request (Form No. 04.a.nn/TT).

c) For mixed-purpose projects on purchase of land, houses, construction, reconstruction, renovation and expansion: The dossier shall comply with points a and b, clause 3 of this Article.

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Based on the documents that investors submit as prescribed in clause 3 of this Article, the managing authority shall prepare disbursement request dossier on submission to the payment body including:

a) Disbursement request (specify the amount, account and beneficiary) made by the managing authority in reference to specific works (Form No. 04.b.nn/TT); written request for recovery of advance (where relevant, using Form No. 04.b/TT).

b) Chart of completed works (Form No. 03.a/TT, or any other form used for determining works that is accepted for use in the contract having overseas validity) in reference to construction, reconstruction, renovation and expansion projects.

c) Funds withdrawal form (Form No. 05/TT) that is required if the managing authority needs disbursement in VND.

d) Request for withdrawal of funds from the state budget in foreign currency (Form No. 07/TT) that is required if the managing authority needs disbursement in foreign currency.

dd) dd) Other documents evidencing money transfer (if any).

5. Payment activities occurring at the payment body:

Within 02 working days of receipt of the complete set of request documents from the managing authority as per regulations laid down in Article 18, 19 and 20 herein, based on the authorized budget for projects, the payment body shall take steps in disbursing capital for projects. Total advance and payment for completed works in a year shall not exceed the annual capital allocated for projects. The deadline for advance payment shall be within 01 working day of receipt of the complete set of documents required herein.

6. Disbursement in foreign currencies:

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a) Paying foreign-currency sums funded by the central government-controlled foreign currency fund:

(i) Based on the annual budget and demands for expenditure in foreign currencies for projects, the managing authority shall prepare the general chart of annual public investment capital allocation in VND with conversion into USD at the exchange rate prescribed by the Ministry of Finance at the time of assignment of the plan prepared by the managing authority according to demands for foreign-currency expenditures in a year for projects under its management. The total of which does not exceed the annual capital authorized in a year. The chart shall then be submitted to the Ministry of Finance and the payment body (Form No. 01.nn/PB).

(ii) Where foreign-currency disbursement is needed, the managing authority shall send the written request for withdrawal of funds from the state budget in foreign currency (Form No. 07/TT) to the payment body.

(iii) Vietnamese representative agencies in foreign countries shall be entitled to use the state budget funds that they are allowed to temporarily retain for disbursing authorized capital when receiving the notification about such entitlement from the Ministry of Foreign Affairs. When wishing to take out foreign-currency money from this fund, they shall issue two copies of the form of funds withdrawal cum recording of the state budget receipt (Form No. 06/TT) to the payment body.

b) For foreign-currency payments not derived from the central government-controlled foreign currency fund: The managing authority (or the investor) uses the amount that the payment body disburses in advance or pays for purchase of foreign currencies from banks to pay the beneficiary. The payment body shall complete advancing and payment procedures to transfer money to the account of the commercial bank that the managing authority contracts to buy foreign currencies.

c) The payment body provides foreign currencies upon the managing authority’s request. To be specific:

(i) In case of expenditures derived from the central government-controlled foreign currency fund: Based on the chart of the annual public investment capital allocation in VND with conversion into the USD sent by the managing authority at the beginning of each year and the request form for withdrawal of state budget funds in foreign currencies made by the managing authority in accordance with regulations of this Decree, the payment body shall withdraw money from the centralized foreign currency fund for disbursement purposes.

(ii)  In case of using state budget funds temporarily retained at overseas Vietnamese representative agencies: Based on the chart of annual state budget allocations in VND with conversion into USD that the managing authority sends at the beginning of the year and copies of evidencing documents that the Ministry of Foreign Affairs sends in accordance with this Decree, the payment body shall scrutinize elements; sign on these copies and use the first copy of “Form of funds withdrawal cum recording of the state budget receipt” to record the state budget receipt from “Consular charges or other revenues in foreign countries"; account for the fund disbursement to the Ministry of Foreign Affairs (classified by the applicable appropriate chapter, heading, item and sub-item in the state budget indices); send the remaining copy to the Ministry of Foreign Affairs for accounting purposes and notify overseas Vietnamese representative agencies of permission to withdraw funds that they are temporarily retaining for use. 

Section 4. MANAGEMENT AND DISBURSEMENT OF CAPITAL DERIVED FROM LEGITIMATE REVENUES RETAINED BY STATE REGULATORY AUTHORITIES AND PUBLIC SERVICE PROVIDERS FOR DEVELOPING PUBLIC INVESTMENT PROJECTS

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1. For legitimate revenues that state regulatory authorities retain for investment purposes:

a) Investors shall open accounts for capital disbursement at the State Treasuries where transactions are facilitated.

b) Signing up for an account for disbursement purposes shall comply with the Government’s regulations on administrative procedures regarding the state treasury and those of the Ministry of Finance on guidelines for signing up for and using accounts opened at State Treasuries.

2. For legitimate revenues that public service providers retain for investment purposes, the places where accounts are opened for capital disbursement shall be subject to the Government’s regulations on financial autonomy of public service providers. Public service providers shall check the disbursement of capital under the regulations of Article 22 herein.

Article 22. Management, checking and disbursement of capital

1. Legal dossiers, advance payment dossiers, disbursement dossiers on projects shall comply with Article 8 herein.

2. Management, advance payment, recovery of advance, and disbursement of capital shall comply with Article 9 and 10 herein.

3. The deadline for advancing and disbursement of capital on an annual basis, and deadline for disbursement of capital set by the payment body shall comply with Article 12 herein. 

Section 5. METHODS FOR TRANSACTIONS AT STATE TREASURIES 

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1. Methods for submission of dossiers (by one or more of the following methods):

a) Submit dossiers and receive results via the public service website.

b) Submit dossiers and receive results by public postal services in accordance with the Prime Minister's regulations; via service contracts with enterprises or individuals; or via authorized representatives as prescribed by laws.

2. Implementation procedures:

a) In cases where the transaction is not conducted via online public service:

(i) Investors shall prepare and submit dossiers to the State Treasury where the transaction occurs.

(ii) The State Treasury shall receive and review information in the dossier submitted by the investors for disbursement request within the scope of the assigned annual capital for public investment and the available budget balance to process the payment procedures for the beneficiaries; send one copy of the paper debit note to confirm that payment has been made.

In cases where the dossier is not valid as prescribed in this Decree, the State Treasury shall send a written notification on refusal to pay the state budget payment with clear reasons to the unit.

b) In cases where the transaction is conducted via the public service website:

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(ii) The State Treasury shall receive and review information in the dossier submitted by the investors for disbursement request within the scope of the assigned annual capital for public investment and the available budget balance to process the payment procedures for the beneficiaries; send one copy of the debit note to confirm that payment has been made. In cases where the dossier is not valid as prescribed in this Decree, the State Treasury shall send a notification on refusal to pay the state budget payment with clear reasons to the unit via the public service website.

3. Components and quantity of the dossier:

b) Components of the dossier shall comply with regulations in this Decree.

b) Quantity of the dossier:

The quantity for each document of the dossier is 01 copy (original copy or certified true copy); 02 funds withdrawal forms (in cases of VAT deduction or when both the transaction unit and the goods/service supplier open accounts at the same State Treasury unit, an additional original copy must be provided for each such case); 02 original copies of disbursement request and request for recovery of advance.

The dossier submitted via the public service website shall include electronic signatures as prescribed by laws.

4. Deadline for processing:

a) The deadline for advance payment shall be within 01 working day from the date on which State Treasuries receive valid dossiers and disbursement information as prescribed in this Decree.

b) The deadline for disbursement shall be within 02 working days from the date on which State Treasuries receive valid dossiers and disbursement information as prescribed in this Decree.

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6. Processing authority: the State Treasury where the transaction occurs.

7. Results:

a) In cases where the State Treasuries approve the disbursement, advance or recovery of advance requests, the State Treasuries shall confirm directly on the disbursement request, funds withdrawal form, or request for recovery of advance. If the investors participate in electronic transactions with the State Treasuries, the State Treasuries shall send the debit note to the unit via the public service website to confirm that the payment or advance has been made.

b) In cases where the State Treasuries refuse the payment or advance request, the State Treasuries shall notify the investors of the refusal (either in writing or via the public service website).

8. Fees and charges are not required.

Article 24. Methods for disbursement of foreign capital via State Treasuries

1. Methods for submission of dossiers (by one or more of the following methods):

a) Submit dossiers and receive results via the public service website.

b) Submit dossiers and receive results by public postal services in accordance with the Prime Minister's regulations; via service contracts with enterprises or individuals; or via authorized representatives as prescribed by laws.

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a) In cases where payments are made at service banks, the confirmation at State Treasuries shall comply with the following regulations:

In the case of transactions at the State Treasuries: the project owner shall prepare and submit the paper dossier in person at the State Treasury where the transaction occurs. The State Treasury shall receive and review the information in the dossier submitted by the investors for disbursement request within the scope of the assigned annual capital for public investment. The State Treasury shall confirm the advance or payment according to the project owner’s request. If the disbursement requested by the investor (project owner) does not comply with the laws, the State Treasury shall send a written notification of refusal with clear reasons for refusal to the unit.

In the case where the investor (project owner) prepares and submits the dossier via the public service website, the State Treasury shall receive and review the information in the disbursement request within the scope of the assigned annual capital for public investment. The State Treasury shall confirm the advance or payment. If the disbursement requested by the investor (project owner) does not comply with the laws, the State Treasury shall send a notification of with clear reasons for refusal to the unit via the public service website.

b) In cases where payments are made at State Treasuries, they shall comply with regulations in clause 2, Article 23 of this Decree.

3. Components and quantity of the dossier:

a) Components of the dossier shall comply with regulations in this Decree.

b) Quantity of the dossier:

The quantity for each document of the dossier is 01 copy (original copy or certified true copy); 02 funds withdrawal forms (in cases of VAT deduction or when both the transaction unit and the goods/service supplier open accounts at the same State Treasury unit, an additional original copy must be provided for each such case); 02 original copies of disbursement request and request for recovery of advance. In cases where payments are made at service banks and confirmed at State Treasuries, the investors (project owners) are not required to submit funds withdrawal forms.

4. Deadline for processing:

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5. Responsible entities: Owners of projects or project components funded by the state budget; projects applying the lump-sum allocation mechanism with partial on-lending according to the prescribed ratio.

6. Processing authority: the State Treasury where the transaction occurs.

7. Results:

a) In the case that the State Treasuries approve the request for confirmation of disbursement or advance of foreign capital, the State Treasuries shall confirm directly on the disbursement request (for cases where confirmation is done at the State Treasuries and payment is made at the bank); or confirm directly on both the disbursement request and the funds withdrawal form of the investors (project owners) (for cases where payment is made at the State Treasuries).

b) In the case that the State Treasuries refuse the request for disbursement or advance of foreign capital, the State Treasuries shall notify the refusal to approve the disbursement, withdrawal, or the refusal to confirm the disbursement (either in writing or via the public service website).

8. Fees and charges are not required. 

Chapter II

STATEMENT

Section 1. STATEMENT OF STATE BUDGET-FUNDED PUBLIC INVESTMENTS IN THE BUDGETARY YEAR (ANNUAL STATEMENT) 

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1. For the state budget, units and entities related to the disbursement of state budget-derived public investment capital (including investment projects managed by ministries and central authorities and funded by local budget) shall prepare the annual statement reports at the end of the budgetary year..

2. For public investment capital derived from legitimate revenues that regulatory authorities, public service providers retain for investing purposes, entities and units involved in disbursement of capital shall make the review report on implementation and payment/disbursement in accordance with applicable regulations of the Ministry of Finance.

3. Data in the annual statement report shall be collated and validated in accordance with the Law on State Budget.

4. Data included in the annual statement report shall be arranged by specific managing authorities, funding sources, industries, sectors, programs, or projects (with details about domestic and foreign capital) that comply with appropriate budget assignment decisions of competent authorities and details about capital unallocated to programs, or projects.

5. The preparation, submission, consideration and summary of annual statement report shall comply with regulations on content, requirements and deadline prescribed in the applicable Law on State Budget and this Decree.

Article 26. Cut-off date for preparation of annual statement reports

1. Relevant entities, organizations and units involved in implementation of state budget-funded public investment plans shall close their accounting books and prepare annual statement reports at the end of the budgetary year.

2. Advance payments shall be accounted for in the budgetary year when meeting disbursement conditions for payment for planned works in that year which are carried out and tested till end of December 31 in the budgetary year.

3. Revision of statement reports of the state budget must be completed by end of January 31 in the year succeeding the budgetary year.

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1. State budget-derived public investment capital in the annual statement reports shall be classified as follows:

a) State budget-derived public investment capital authorized for use in the plan assigned by the competent authority in the budgetary year.

b) State budget-derived public investment capital getting ready for use in the previous years' plan of which the fund availability and disbursement period is extended to the budgetary year with the competent authority’s consent.

c) Advance from previous years that are not yet recovered.

2. Disbursed amount subject to annual statement include:

a) Payments for paying for completed works of works funded by the state budget-derived public investment capital assigned in the budgetary year (even including those disbursed according to the method of recording of receipts and payments, or in foreign currencies) within the period from January 01 in the budgetary year to end of January 31 in the following year.

Where the year’s assigned public investment plan allows for the budget used for recovering the advance budget of the state budget used for funding the project (based on the actual disbursement results), the amount of capital to be finalized shall be total payment for completed works calculated till end of the date of cut-off of data used for preparation of the year-end statement reports including payment for completed works as part of the previously-disbursed advanced capital that is brought forward.

b) Payments for completed works of the project funded by the state budget-derived public investment capital in the previous-year plan eligible for extension of implementation period and payment to the budgetary year that was disbursed or utilized for the period from February 01 in the budgetary year to December 31 in that year.

c) Payments of the prescribed advance not recovered yet which are brought forward from the previous year to the budgetary year for works that are completed from February 01 in the planning year to end of January 31 in the year succeeding the planning year.

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3. Policy-based advance disbursements not recovered yet that are not eligible to become entries of the statement reports. Upon expiry of the deadline for revision of the statement reports, the residual amounts of unrecoverable policy-based advance (after deducting the amounts paid as depreciation in the budgetary year (if any) of part of the unrecoverable policy-based advance from the previous years) which are brought forward to the following year for the purposes of management and recovery of advance and statement for payments for completed works. Financial authorities shall not be obliged to carry out the procedures for consideration of capital transfer.

4. Advance on the following year’s state budget allocation shall not be required to be included in the annual statement reports.

5. Explanatory notes to the annual statement reports:

a) Ministries, central authorities, departments, divisions, subdivisions of provincial or commune-level People's Committees that are authorized appropriately, superiors of investors (where they are authorized to do so), investors shall:

(i) Make general review reports on implementation of plans, disbursement and statement of state budget-derived public investment capital authorized in the budgetary year.

(ii) Explain  issues, problems, factors affecting disbursement, payment and statement of capital, increases/decreases in public investment capital, recommended solutions.

b) Payment bodies shall:

(i) Make general reports on features and condition of annual statement as prescribed in clauses 1 and 2 of this Article.

(ii) Make proposals and requests for dealing with issues and problems related to the annual statement.

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7. The Ministry of Finance shall provide regulations on forms and charts used for the statement of state budget investments in the budgetary year and relevant matters.

Article 28. Procedures and deadlines for preparation, approval and submission of annual statement reports

1. For state budget-derived public investment capital under the management of ministries or central authorities:

a) Investors shall submit annual statement reports to ministries, central authorities or superiors of investors (where they are authorized to do so) before May 01 in the year succeeding the planning year.

b) Ministries, central authorities shall consider approving reports submitted by investors; prepare annual statement reports for submission to the Ministry of Finance by August 01 in the year succeeding the planning year.

When being authorized by ministries or central authorities, investors shall submit annual statement reports to the mandated superiors of investors. The mandated entities shall bear responsibility to consider approving statement reports received from investors and submit the consolidated statement reports for projects under their delegated authority to the ministries or central authorities before June 05 in the year succeeding the budgetary year in order for them to prepare the final one for submission to the Ministry of Finance by August 01 in the year succeeding the budgetary year.

Where the annual statement reports of investors are prepared in breach of regulations, ministries, central authorities and superiors of investors (where they are authorized to do so) shall request investors to give explanations, provide necessary data and information, modify or replace the statement reports to seek approval under regulations. Ministries, central authorities or superiors of investors (where they are authorized to do so) shall request investors to pay payables to the state budget under regulations and charge off expenditures in breach of regulatory policies, assigned budgets and take actions under their delegated authority or request competent authorities to deal with them if investors use them in contravention of regulations.

Ministries or central authorities shall check over data used for completing detailed annual statement reports for programs or projects with central-level payment bodies before compiling the annual statement reports for submission to the Ministry of Finance.

c) Regional payment bodies shall summarize data used for completing annual statement reports for submission to central-level payment bodies by April 15 in the year succeeding the budgetary year. The central-level payment body shall synthesize data used for completing annual statement reports for submission to the Ministry of Finance by June 15 in the year succeeding the budgetary year.

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a) Regarding local state budget-derived public investment capital under the management of provincial People’s Committees:

(i) Investors shall prepare annual statement reports for submission to departments or subdivisions of provincial People’s Committees.

(ii) Departments or subdivisions of provincial People's Committees shall consider approving statement reports of investors; compile the annual statement reports for submission to the same-level financial authorities.

Where the annual statement reports of investors are prepared in breach of regulations, departments or subdivisions of provincial People’s Committees shall request investors to give explanations, provide necessary data and information, adjust or replace the statement reports for in accordance with the laws. Departments or subdivisions of provincial People’s Committees shall request investors to pay payables to the state budget as prescribed by laws and charge off expenditures in breach of regulatory policies, assigned budgets and take actions under their delegated authority or request competent authorities to deal with them if investors use them illegitimately.

(iii) Departments or subdivisions of provincial People’s Committees shall check over data used for completing detailed annual statement reports for programs or projects with payment bodies at the same level before compiling the annual statement reports for submission to financial authorities at the same level.

(iv) Provincial People’s Committees shall consult the Law on State Budget, regulations of this Decree and other applicable guidelines to impose regulations concerning the deadlines for submission of the annual statement reports of investors, departments or subdivisions of the provincial People’s Committees, and ensure that the deadlines for statement of state budget expenditures are met.

(v) Regional payment bodies shall synthesize data used for completing the annual statement reports for submission to provincial financial authorities and payment bodies at central level by April 15 in the year succeeding the budgetary year.

b) Regarding local state budget-derived public investment capital under the management of commune-level People’s Committees:

In order to match the characteristics of organization and delegation of authority of each local authority, based on the regulations laid down herein, the Departments of Finance shall solicit the provincial People’s Committees to regulate the procedures and deadlines for preparation, submission and approval of annual statement reports under the Law on State Budget and other guidelines thereof.

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c) Financial authorities at all levels shall review statement reports of first-line budget units, summarize annual statement reports of first-line budget units of the same level and annual statement reports of the inferior budget, report them to People's Committees at the same level for submission to the People's Councils at the same level for approval in accordance with the Law on State Budget.

Within 05 working days after the provincial People's Councils approve the statement of state budget expenditures in the budgetary year, provincial People’s Committees shall submit the statement of state budget expenditures to the Ministry of Finance for summary and reporting purposes in accordance with the Law on State Budget. The Departments of Finance shall submit the annual statement reports on state budget-derived public investment capital of local authorities to the Ministry of Finance and payment body at central level to serve statement of state budget-derived public investment capital.

Article 29. Approving and consolidating annual statements

1. Ministries, central authorities, departments, divisions, subdivisions of People's Committees at all levels that are authorized appropriately, superiors of investors (where they are authorized to do so):

a) Check the adequacy, relevance to the investment portfolios, budgeted capital and disbursed capital (details about advance and payment for completed works) of specific projects in the assigned plans in the budgetary year and in the previous years’ plans of which the availability and disbursement period may be extended to the budgetary year by the competent authority’s consent.

b) Check and compare the amounts of capital already disbursed (details about advance and payment for completed works) with the budgets specific to projects; determine the amounts of capital included in the statement reports of which the availability and disbursement are extended, or which may be eliminated, by competent authorities’ consent.

c) Check the relevance of capital sources, capital structure elements and sectors in which specific projects operate.

d) Give comments on utilization and disbursement of capital in the budgetary year, compliance with policies, regulations, other matters or comments (if any).

dd) Request investors to pay payables to the state budget under regulations and charge off expenditures in breach of regulatory policies, assigned budgets and take actions under their delegated authority or request competent authorities to deal with expenditures in violation of policies if investors use them illegitimately.

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a) Check the adequacy and consistency of data regarding total capital, details about the budgets, capital structure, industries, sectors, investment portfolios involved in the annual statement reports of the managing authorities and general and detailed annual statement reports of payment bodies at the same level.

b) Summarize annual statement reports of units in accordance with Article 70 of the Law on State Budget.

Section 2. STATEMENT OF PUBLIC INVESTMENTS IN COMPLETED PROJECTS

Article 30. Public investment capital included in statements

Public investment capital included in statements refer to all of the legitimate expenses incurred during the investment period in order to bring projects into operation and use, or to discontinue implementation in accordance with written approval to discontinue the implementation from competent authorities responsible for investment decisions (including all costs for insurance contract payments, appraisal fees, review costs, and statement approval costs as prescribed in clause 5, Article 3 of this Decree). Legitimate expenses are all of costs incurred within a project or the approved cost estimate and the signed contract in accordance with regulations (for works carried out under contracts) including modification or supplementation approved under regulations and appropriate jurisdiction. Investment expenses eligible for settlement shall fall within total investment which is approved or adjusted in accordance with laws.

Article 31. Statement of capital of component projects, sub-projects, construction works, standalone items of work upon completion

1. In cases where the written approval for project investment guidelines divides the project into component projects, standalone sub-projects (which can operate independently, be exploited and used independently, or be invested in phases) that obtain separate approval decisions on investment projects, the statement, review and approval of statement reports in each component project or standalone sub-project shall be the same as those in a standalone investment project. Components or sub-projects already undergoing the review and approval process as prescribed by laws shall not be subject to the audit of statement reports, repeated review and approval of statement reports.

Ministries, central authorities, state corporations, incorporations or provincial People’s Committees authorized to take charge of main component projects or act as the hubs for projects shall be responsible for reporting on results of approval of on-accounts aggregate amounts of investment capital for projects of national significance or group-A projects upon full completion to the Prime Minister and the Ministry of Finance.

2. For pre-investment tasks:

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b) If funding for pre-investment tasks is provided separately, the pre-investment cost statement shall be prepared similarly to a standalone subproject and a consolidated statement of the project shall be prepared in accordance with Clause 1 of this Article.

c) Where pre-investment tasks of which investment guidelines and investment decisions are not approved by competent authorities, the costs incurred for carrying out pre-investment tasks shall be finalized as for a project that has been discontinued.

3. For compensation, support and residential resettlement work:

a) In cases where the investment guidelines of the project separate the content of compensation, support, resettlement and site clearance into an independent project, the statement for public investment capital for completed projects and review of the statement reports shall be the same as those in standalone public investment projects.

b) In other cases: Units and organizations in charge of compensation and site clearance shall be responsible for preparing the statement reports of expenses for compensation, support or residential resettlement for submission to Presidents of People’s Committees at the same level with the authorities having competence in approving the plans for compensation, support and residential resettlement to seek their consent to the estimates of costs of compensation, support and residential resettlement, and sending the approval decision to investors in construction projects to have them integrated into the upon-completion statement reports of public investment capital for the entire project.

c) In cases where the methods for compensation, support and resettlement of projects have been approved by the district-level People’s Committees before the implementation of the 02-level government model, units and organizations assigned by competent authorities to carry out compensation, support, and resettlement (after the implementation of the 02-level government model) shall continue to organize the implementation of compensation, support, and resettlement in accordance with land laws and; prepare statement reports on compensation, support, and resettlement costs and submit them to Presidents of People’s Committees managing the unit or organization in charge of such matters for approval of statement of completed compensation, support, and resettlement costs.

d) The authority in charge of reviewing the statement of the entire project is not required to review the costs of compensation, support, and resettlement that have already been approved for statement, except in cases where the person competent to approve the decision to approve the statement of public investment capital for the entire project requests for review of the completed compensation, support, and resettlement costs that have been approved for statement.

The person competent to approve the statement of compensation, support, and resettlement costs shall assign a specialized unit or civil servant under his/her management (in the case where communes do not have a department) to review the statement and regulate the deadlines for preparation, review and approval of the statement of compensation, support, and resettlement costs, ensure that this process does not affect the project investor when preparing the statement dossier on public investment capital for a completed project.

4. For construction works or standalone items of work in a public investment project (which can operate independently, be exploited and used independently) that are completed and put to use: Where necessary to review and approve the statement reports, investors shall report to the persons having competence in issuing approval decisions on investment projects for their consideration and decision. Expenses eligible for statement of works or items of work including construction expenses, equipment expenses, consultancy expenses and others directly related to these works or items of work. After the project is fully completed or discontinued, the investor shall integrate approved expenses of works or items of work into the statement reports of investment capital for the completed project and seek the competent authority’s consent to the statement reports of public investment capital for the completed project.

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6. The matters related to statement of public capital in completed projects shall comply with regulations in this Decree.

Article 32. Statement reports on public capital of completed projects 

1. The statement reports shall provide full and accurate information as follows:

a) Breakdown of investment capital.

b) Total investment capital proposed for inclusion in the statement.

c) Expenses incurred from investment losses.

d) Expenses that may not be charged into value of assets.

dd) Value of post-investment assets.

2. The Ministry of Finance shall issue forms and charts used for statement of public investment capital for projects upon completion and provide guidelines for relevant matters.

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Investors shall send 01 set of dossier to persons having competence in issuing approval decisions for statement reports and 01 set of dossier to authorities in charge of reviewing statement reports of public investment capital for projects upon completion. Where the person having competence in issuing approval decisions for statement reports is the head of the authority in charge of review of statement reports, only 01 set of dossier shall be sent to the authority in charge of reviewing statement reports. Documents in the dossier shall be the originals, certified true copies or notarized documents in accordance with the laws including:

1. For public investment projects, completed items of work or discontinued public investment projects including construction or equipment installation works:

a) Request for approval of the statement reports of public investment capital for the completed project of the investor. Where an independent auditor conducts an audit, the request shall clearly state agreement, disagreement and reasons for such disagreement between the investor and the independent auditor. Where inspection and control bodies, State Audit or regulatory or law enforcement authorities have already inspected, taken control of, audited or investigated projects in question, the request shall clearly state the compliance with recommendations and conclusions of superiors.

b) Statement report forms and charts as prescribed in clause 2 of Article 32 herein.

c) Relevant legal documents.

d) Statement dossiers on costs of the entire project; whereas, statement dossier on each contract including contract and appendices (if any); report on acceptance testing of completed works relative to payment stages; report on acceptance testing of completed works in the entire contract; calculation chart of contract value eligible to be included in the statement relationship between the investor and the contractor (A – B statement report) using Form No. 03.c/QT; contract termination report that is required if contract termination conditions are met under law on contracts; other documents agreed upon in the contract that is related to the subjects of review and ratification of the statement of investment capital for completed projects.

dd) Commissioning report  (if any);

e) Audit report of the independent auditor that is required when hiring the independent auditor.

g) Audit report or notification of audit results (hereinafter referred to as audit report), inspection conclusion, inspection report, checking report, and decision on handling of violations of the State Audit, inspection or control bodies, that are required if they conduct the inspection, checking or audit of the project; investigation results of regulatory or law enforcement authorities that are required if the project is involved in any violation against law with the consequence that the regulatory and law enforcement authority's investigation is needed. The investor’s report attached with relevant documents on compliance with guidelines of the aforesaid authorities shall be required.

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a) Request form for approval of the statement of the investor. Where an independent auditor conducts an audit, the request shall clearly state agreement, disagreement and reasons for such disagreement between the investor and the independent auditor. Where inspection and control bodies, State Audit or regulatory or law enforcement authorities have already inspected, taken control of, audited or investigated projects in question, the request shall clearly state the compliance with recommendations and conclusions of superiors.

b) Statement report forms and charts as prescribed in clause 2 of Article 32 herein.

c) Relevant legal documents.

d) Statement dossiers on costs of the entire project; whereas, statement dossier on each contract including contract and appendices (if any); report on acceptance testing of completed works relative to payment stages (except where construction or equipment installation works have not existed yet); written document stating approval of modification, supplementation, increase/decrease (if any); report on acceptance testing of completed works compared to those stated in the contract (if any); A – B statement report using Form No. 03.c/QT (if any); contract termination report that is required if contract termination conditions are met under law on contracts.

dd) Audit report of the independent auditor that is required when hiring the independent auditor.

3. Investors shall be responsible for presenting other relevant documents necessary for review of the statement reports at the written request of authorities in charge of review of the statement reports.

4. For discontinued projects:

Persons having competence in deciding approval of investment shall issue written approval for discontinuation of project after the competent authorities issue written approval for discontinuation of project investment guidelines (except for projects that are not under investment guidelines as prescribed in clause 6, Article 19 of the Law on Public Investment No. 58/2024/QH15 dated November 29, 2024; and clause 6, Article 7 of the Law on No. 90/2025/QH15 dated June 25, 2025 on amendments to some articles of Law on Bidding, Law on Public-Private Partnership Investment, Law on Customs, Law on Value-Added Tax, Law on Export And Import Duties, Law on Investment, Law on Public Investment, And Law on Management and Use of Public Property. Based on the dossiers, data, works and payment data as of the effective date of written approval for discontinuation of project, the investors shall prepare statement of the costs incurred for the project and submit it for review and approval of the statement in accordance with regulations in this Decree.

5. The investor is allowed to send electronic documents instead of paper documents. The electronic documents must comply with laws on clerical work.

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1. Authority to approve the statement reports:

a) For projects of national significance and other important projects subject to the Prime Minister’s investment decisions:

Leadership of ministries, central authorities, state corporations, incorporations, Presidents of provincial People’s Committees, commune-level People’s Committees shall approve statement reports of capital for projects, standalone sub-projects using public investment capital under their jurisdiction.

The investors shall approve the statement for projects, standalone sub-projects that do not use public investment capital.

b) For other projects: Persons having competence in making approval decisions for investment projects are persons having competence in approving the statement reports of capital for projects upon completion.

c) During and after the reorganization of the 02-level local government model, the following cases shall be implemented:

In cases where projects within jurisdiction of Presidents of district-level People’s Committees are handed over to provincial authorities, provincial authorities and units receiving the projects shall take all responsibilities of district-level authorities regarding statement of completed projects. Presidents of provincial People’s Committees shall approve the statement of completed projects.

In cases where projects within jurisdiction of Presidents of district-level People’s Committees are handed over to commune-level authorities, commune-level authorities and units receiving the projects shall take all responsibilities of district-level authorities regarding statement of completed projects. Presidents of commune-level People’s Committees shall approve the statement of completed projects.

d) Persons having competence in deciding approval of the statement prescribed in points b and c, clause 1 of this Article are delegated or authorized to approve the statement of investment capital for completed project in accordance with laws on construction, government organization, local government organization.

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a) Departments of Finance shall be in charge of conducting review on projects using public investment capital of the local budget under the management of the provincial People’s Committees.

b) For communes that have departments, Presidents of commune-level People’s Committees shall assign specialized departments related to finance to conduct review on projects using public investment capital of the local budget under the management of the commune-level People’s Committees. For communes that do not have departments, Presidents of commune-level People’s Committees shall assign specialized civil servants under their management to conduct review on such projects.

c) Persons having competence in approving the statement shall assign competent units under their jurisdiction to take charge of the pre-approval review of the statement reports for other projects..

d) When necessary, the authority assigned to conduct review on the statement shall report to the person having competence in approving the statement for establishment of a statement review team to conduct the review before submitting for approval. The statement review team shall include authorized representatives from relevant units and authorities. The duties of the statement review team shall be determined by the authority that establishes the team.

3. Audit of the statement reports:

a) Once projects of national significance or group-A projects funded by public investment capital are completed, the statement reports must be audited before being submitted to authorities having competence in reviewing and approving the statement reports (except those on the list of state secret projects). For the remaining projects using public investment capital, persons having competence in issuing approval decisions on investment in projects shall consider deciding to hire the independent audit contractor to audit the statement reports.

Investors shall seek tenders for audit services in accordance with law on bidding and sign audit contracts in accordance with law on contracts.

Investors, independent audit contractors and concerned units shall comply with regulations in points b and c of this clause.

b) Independent auditors must be independent audit enterprises that are established and operated under laws on establishment and operation of enterprises in Vietnam, comply with applicable regulations on independent audit and audit standards.

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Where the State Audit or inspectorate conducts audit, inspection and issues audit reports and inspection conclusions containing all subject matters prescribed in Article 36 herein, the authority in charge of reviewing the statement reports of the project shall use data of audit reports of the State Audit, audit conclusions of the inspectorate as a basis for review; shall not be obliged to hire the independent auditor to conduct audits.

Where the State Audit or the inspectorate has yet to perform all audit or inspection steps required under Article 36 herein, based on the regulations in point a, clause 3 of this Article,  investors shall determine the supplemented contents and scope of audit and select the independent audit contractors to conduct supplementary audits where necessary. Expenses for supplementary audit shall be determined in the same manner as expenses for hiring independent auditor stipulated in Article 45 herein. Authorities in charge of review of the statement reports can use audit reports of the State Audit or conclusions of the inspectorate and audit reports of the independent auditor as a basis for review of the statement reports.

Where the State Audit or the inspectorate has the project audit or inspection decision during the period of the independent audit contractor’s implementation of the audit contract, the independent audit contractor shall execute the audit contract in compliance with contractual terms and conditions.

Article 35. Review of statement reports of public investment capital for projects, component projects, sub-projects, works or items of work already undergoing audit or inspection

1. Where the independent contractor performs the task of auditing the statement, the authority in charge of review of the statement reports shall perform the following tasks:

a) Check the legitimacy of the independent audit contract, scope of audit, period of time and mode of audit of the project.

b) Compare audit report data with audit data in accordance with applicable regulations and audit standards. Where audit results have errors; fail to meet prescribed requirements; fail to include the prescribed information, the authority in charge of reviewing the statement reports shall notify the investor so that the investor requests the independent audit contractor to conduct another audit or supplementary audit.

c) Check compliance with regulations of relevant law, legal bases that the auditor uses for audit the project.

d) Consider audit recommendations about actions to be taken in case of any conflict between the investor’s statement data and audit results of the independent audit contractor.

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2. Where the State Audit or the inspectorate draws conclusions about all of the matters specified in Article 36 herein:

a) Compare the contents of the audit report of the State Audit or the conclusions of the inspectorate with those of the investor's audit report to determine the compliance of the investor and other relevant units with laws; data on the amounts requested to be finalized for that are given by the investor with the audit or inspection results before such comparison is used as a basis for the competent person’s consideration of approval of the statement reports.

b) Check whether the investor and related units duly implement the conclusions of the inspectorate, the State Audit; investigation results of regulatory authorities.

3. Where necessary, the authority in charge of reviewing the statement reports shall advise the person having competence in approving the statement reports to consult with the relevant authority in writing to reach agreement about solutions to such situation before submission of these solutions to seek decision from the person having competence in approving the statement reports.

Article 36. Review of statement reports of public investment capital for projects, component projects, sub-projects, works or items of work not undergoing audit or inspection

Authorities in charge of reviewing the statement reports shall carry out the review as prescribed in Article 37, 38, 39, 40, 41 and 42 herein and prepare reports on results of review of the statement reports of completed projects including the following content:

1. Legal dossier.

2. Project investment capital.

3. Investment expenses.

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5. Value of post-investment assets.

6. Liabilities and inventory items.

7. Compliance of the investor and other relevant units with investigation conclusions and results of inspection of law enforcement authorities and other authorities (if any).

8. Comments, assessments, recommendations:

a) Given comments or assessments on compliance with regulations regarding management of public investments, construction and bidding; management and utilization of public investment capital; management of investment expenses, management of investment assets of investors; responsibilities of specific regulatory authorities for management of investment capital for projects.

b) Determine the amounts requested for statement of investment capital for completed projects and actions against relevant issues.

Article 37. Review of legal dossiers

Based on relevant reports or legal documents available in a project and relevant regulations, comments shall be given on the following matters:

1.  Procedures for preparing and approving documents; authority to approve documents.

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3. Compliance with procedures for bidding in accordance with laws on bidding.

4. Compliance with laws on contracts that is required during the process of conclusion of contracts between investors and contractors.

Article 38. Review of investment capital for projects

1. Compare the structure of disbursed public investment capital with the structure of capital determined in the approved total investment.

2. Compare data on annually disbursed capital of investors and those of payment bodies.

3. Check any increase or decrease in public investment capital of the projects obtaining the competent authority's consent.

4. Comments and assessments about compliance with regulations on management, disbursement and statement of financial obligations of projects using public investment capital; management and utilization of types of public investment capital of projects.

Article 39. Review of investment expenses

1. Principles:

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b) Where necessary, authorities in charge of reviewing the statement reports shall check as-built dossiers in order to calculate successfully-tested completed works in accordance with laws.

2. Review of compensation, support and residential resettlement expenses:

a) For compensation, support and residential resettlement expenses incurred by investors or organizations in charge of compensation, support and residential resettlement: Reconcile the amounts payable upon the requests of the investors or organizations in charge of compensation, support and residential resettlement with the approved plan for compensation, support and residential resettlement; the estimate of costs for implementation of compensation, support and residential resettlement; approved decisions on compulsory inventory and compulsory land expropriation; the list of payments to entities and persons receiving compensation that is signed in accordance with regulations, as a basis to determine total value to be finalized. The preparation, approval of statement reports, utilization and statement of administrative expenses for compensation, support and residential resettlement, compulsory inventory and compulsory land expropriation shall comply with laws on land.

b) For value of technical infrastructure obtaining decisions on approval of statement from competent persons: Based on the decision on approval of statement issued by competent persons, the disbursement request submitted by investors or organizations in charge of compensation and site clearance of construction works, and payment proof, the amount of expenses for the completed parts of technical infrastructure shall be determined. If competent persons approving project investment statement request for a review, the review shall comply with clause 3 of this Article.

3. Review of expenses:

a) For costs incurred through contracts:

Based on the type of contract signed between the investor and the contractor in accordance with the laws on construction, bidding, and contracts, the contents of work, executed works and unit prices in the calculation chart of amounts requested for A-B statement report shall be checked and compared with the acceptance minutes of the completed works according to the contract requirements and the unit prices in the contract in order to determine the accepted value of the completed works as prescribed by laws

In cases where there are adjustments to works, unit prices or State policies: Based on the acceptance minutes of the completed works, the principles for adjusting works and unit prices in the contract, and the policies applied in accordance with the contract execution period, the value of the accepted completed works shall be determined in accordance with the laws. No adjustments shall be made for extended contract duration beyond the signed contract period if caused by the contractor's fault

In case of arising costs: Review shall be conducted based on the regulations on contract adjustments corresponding to each type of contract and the relevant regulations.

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For costs calculated based on percentage norms: Check and compare the requirements for applying the percentage norms to determine the cost value of each type of work.

For costs calculated based on the approved detailed estimates: Verify and compare the proposed statement values with the approved estimates to assess the reasonableness and validity of the costs.

4. Review of project management expenses:

a) Comply with regulations of the Ministry of Finance on management and utilization of revenues from construction consultancy and project management activities of investors in and authorities in charge of publicly-funded projects.

b) The management of assets of investors and project management authorities upon completion shall comply with laws on management and use of public assets.

Article 40. Review of investment expenses not charged into asset value

1. Reviewing costs of damage due to force majeure causes that cannot be charged into asset value according to the following regulations:

a) Determine damage costs according to the principles and procedures of the State.

b) Damage value stated in the damage report shall be checked, validated by, and treated upon recommendation of the investor, the winning contractor, the supervision consultant and the insurance contractor.

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Article 41. Value of post-investment assets

1. Determining the quantity and value of post-investment assets of the project, work or standalone item of work

2. Standards, classification, value allocation, original cost and handling of post-investment assets shall comply with laws on the management and use of public assets.

Article 42. Review of liabilities, input materials or equipment on backlog

1. Reviewing liabilities:

a) Based on the results of review of investment expenses and amounts that the investor pays to the contractor, clearly determine specific receivables and payables by debtors/creditors.

b) Consider recommended plans to managing receipts payable to the state budget that have not yet been paid into the state budget, deposit or cash balances in stock to recommend actions to be taken.

2. Inspecting value of input materials and equipment on backlog:

a) Check value of input materials and equipment on backlog on accounting books and compare it with data obtained from the actual stocktaking process.

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c) The handling of recovered input materials during the project implementation shall comply with laws on management and use of public assets.

Article 43. Review of statement for planning, investment preparation projects; discontinued projects without any construction or installation works that are successfully accepted.

1. Reviewing legal dossiers.

2. Reviewing realized investment capital.

3. Reviewing realized investment expenses with those shown in contracts (if any), approved cost estimate, policies, standards or norms as prescribed in clause 3, Article 39 of this Decree.

4. Reviewing loans or debts of the project.

5. Reviewing expenses that do not give rise to any asset.

6. Reviewing the quantity and value of post-investment assets (if any).

7.  Inspecting compliance of the investor and relevant units with conclusions and recommendations of the inspectorate and the State Audit (if any).

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Article 44. Dossiers on approval of statement

1. Authorities in charge of reviewing the statement shall prepare dossiers on approval of the statement of investment capital for completed projects in order to seek the competent person's approval to the statement after completion of the review process. The dossier shall include the following documents:

a) Review report.

b) Draft decision on approval of statement (applicable to projects, component projects, standalone sub-projects, works and items of work).

c) Other documents requested by the person having competence in approving the statement.

2. Report on results of review of statement report shall contain the following information:

a) Give the general description of the entire project and issues on which decisions are made by the competent authority during the project execution period.

b) Summarize the results of the review conducted in accordance with procedures prescribed herein.

c) Suggest the amounts eligible to obtain approval of the statement of investment funds for completed projects.

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3. Decision to approve the statement of public investment funds for projects upon completion shall be sent to authorities or units: investors; asset transferees; superiors of investors; payment bodies (or authorities authorized to control and disburse funds for state-secret public investment projects of the Ministry of National Defense and Ministry of Public Security), persons having competence in deciding approval of investment, authorities in charge of reviewing the statement of investment funds for completed projects; and to the Prime Minister and Ministry of Finance (applicable to projects of national significance and other key projects obtaining decisions on investment from the Prime Minister, and group-A projects funded by public investment funds).

Article 45. Expenses for independent audit, review and approval of statement

Expenses for independent audit, review and approval of statement refer to costs included in the approved (or adjusted) total investment in projects; amounts eligible for statement for completed projects.

1. Expenses for independent audit, review and approval of statement:

a) Where the project, component project, sub-project, work or standalone item of work has its value falling within the value range prescribed in points b and c, clause 1 of this Article, the percent limit on independent consultancy expenses and expenses for review and approval of statement shall be calculated according to the following formula:

Ki = Kb -

(Kb - Ka) x (Gi - Gb)

Ga - Gb

Where:

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Ka: The upper limit in percent of expenses in proportion to value of the project, component project, sub-project, work or standalone item of work.

Kb: The lower limit in percent of expenses in proportion to value of the project, component project, sub-project, work or standalone item of work.

Gi: Value of the project, component project, sub-project, work or standalone item of work under discussion (in billion VND).

Ga: The upper-limit value of the project, component project, sub-project, work or standalone item of work (in billion VND).

Gb: The lower-limit value of the project, component project, sub-project, work or standalone item of work (in billion VND).

b) Independent audit expenses:

Value of the project, component project, sub-project, work or standalone item of work to be audited by hired auditors (in billion VND).

≤ 5

10

...

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...

100

500

1.000

≥ 10.000

Limit of independent audit expenses (%)

0,96

0,645

0,45

0,345

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0,129

0,069

Expenses (estimated costs or costs of the bid) for independent audit of the project, component project, sub-project, work or standalone item of work are the maximum expenses calculated by multiplying the value of the project, component project, sub-project, work or standalone item of work to be audited by hired auditors by (x) the limit in percent which is determined according to point a, clause 1 of this Article to find the product, plus value-added tax. Minimum amount of independent audit expenses is one million VND, plus VAT.

c) Review and approval expenses for statement reports:

Value to be finalized for upon the investor's approval request of the project, component project, sub-project, work or standalone item of work (in billion dong)

5

10

50

100

...

...

...

1.000

≥ 10.000

Limit in percent of review and approval expenses for statement reports (%)

0,57

0,39

0,285

0,225

0,135

0,09

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...

Expenses for review and approval of the statement of the project, component project, sub-project, work or standalone item of work are the maximum expenses calculated by multiplying the value to be finalized for upon the investor's approval request of the project, component project, sub-project, work or standalone item of work upon completion by (x) the limit in percent which is determined in accordance with point a, clause 1 of this Article. The amount of review and approval expenses for statement reports is five hundred thousand VND.

d) If equipment expenses account for more than or equal to 50% of total value to be audited by hired auditors or value eligible for statement upon the investor's request, expenses for independent audit, review and approval of statement account for 70% of the amount calculated according to points a, b or c, clause 1 of this Article.

dd) With respect to the independent audit, review and approval of the statement of compensation, support and residential resettlement expenses, the limit on expenses for independent audit, review and approval of the statement of such compensation, support and residential resettlement expenses is equal to 50% of the amount calculated according to points a, b or c, clause 1 of this Article.

e) With respect to the project, component project, sub-project, work or standalone item of work which is subject to the independent audit contractor’s audit of its statement reports; the audit or inspection of the State Audit or the inspectorate that fully meets the regulations in Article 37 herein, expenses for review and approval of the statement are equal to 50% of the amount calculated according to clause 1 of this Article.

2. Management and utilization of review and approval expenses for statement reports:

a) In light of the regulations in clause 1 of this Article and dossier on review and approval of the statement submitted by the investor, the authority in charge of review of the statement shall clearly determine expenses for review and approval of the statement, therefrom requesting the investor in writing to pay expenses for review and approval of the statement.

For the project funded by the ending year’s budget, if the investor is on the way to submitting the statement dossier as prescribed in Article 46 herein, the authority in charge of reviewing the statement shall have a look at expenses for review and approval of the approved or adjusted statement reports of the project or the cost estimate (if any) in order to request the investor to pay expenses for review and approval of the statement reports. After consulting the regulations in clause 1 of this Article and dossier on review and approval of the state submitted by the investor, the authority in charge of review of the statement shall clearly determine expenses for review and approval of the statement. If the amount that the investor has paid is greater than expenses for review and approval of the statement that the agency is paid in accordance with regulations, the authority shall refund the investor the excess to reduce the value of statement in the project.

The investor shall request the payment body to pay the authority in charge of review of the statement reports according to the written request of the authority in charge of reviewing the statement reports and pay expenses for pre-approval review of the statement reports which are calculated according to clause 1 of this Article.

b) Review and approval expenses for statement reports include:

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(ii) Remuneration paid to professionals or consulting organizations conducting statement in case where the authority in charge of reviewing the statement signs the contract with professionals or hire consulting organizations.

(iii) Expenses for business travel, stationery, translation, printing, conferences, seminars, procurement of computers or equipment for review and approval of the statement.

(iv) Other expenditures associated with review and approval of statement reports.

c) Based on expenses for review and approval of statement reports and classification of these expenses as prescribed in point b, clause 2 of this Article, the authority in charge of reviewing statement shall formulate expenditure regulations for review and approval of statement reports for submission to the head of its immediate superior for consideration of grant of approval decision so that they are implemented annually till the date on which they are modified or supplemented (if any).

d) Revenues generated from review and approval of statement reports shall not be retained for contribution to the wage reform fund; shall not be jointly recorded and finalized with the annual administrative budget of the authority in charge of reviewing and approving the statement. Review and approval budget for statement reports that is not used up in a year may be brought forward to the next year for use.

Based on revenues and classification of expenses prescribed in clause 2 of this Article, the authority in charge of reviewing the statement shall complete the payment order (Form No. 05.b/TT) to request payment of review and approval expenses for statement reports according to types of expenses prescribed in point b, clause 2 of this Article and submit to the payment body as a basis for payment. The authority in charge of reviewing the statement shall not be required to send proofs of payment, contracts or invoices to the payment body. Based on the request of the authority in charge of reviewing the statement, the payment body shall pay review and approval expenses for statement reports to the authority in charge of reviewing the statement.

3. Where the independent audit contractor does not carry out several work agreed upon in the audit contract after the investor’s fulfillment of their obligations to provide all required documents according to the audit contract, the investor shall consult contractual terms and conditions and works that the audit contractor does not carry out to reduce independent audit expenses in proportion to such works.

4. In case of force majeure events that may occur, thus changing the scope of work in the contract in effect, the investor and the independent audit contractor shall consult regulations on contracts to add or rule out the agreed-upon work.

Article 46. Time of preparation of dossiers, review and approval of statement reports of public investment capital for projects upon completion

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Project

Of national significance

Category A

Category B

Category C

Duration of the investor’s preparation of statement dossier and submission thereof for approval

09 months

09 months

06 months

...

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...

Duration of review of statement reports

08 months

08 months

05 months

04 months

Duration of approval of statement reports

01 month

01 month

20 days

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...

1. The period of the investor’s preparation of the statement dossier for public investment capital for a completed project shall range from the date on which the report on acceptance and transfer of the project or work for use and operation is signed as prescribed by laws or from the effective date of the written approval for discontinuation of project to the date of the investor’s submission of the complete dossier to the authority in charge of reviewing the statement.

2. The period of review of the statement of public investment funds for a completed project shall range from the date on which the authority in charge of reviewing the statement receives the complete statement dossier (as prescribed in Article 33 herein) to the date on which the competent person’s approval of the statement is sought.

3. The period of approval of the statement of public investment capital for a completed project shall range from the date on which the person having competence in granting approval of the statement (as prescribed in clause 1 of Article 35 herein) fully receives the dossier on approval of the statement (as prescribed in Article 45 herein) to the date on which the decision on approval of the statement of investment funds for the completed project is issued.

Article 47. Reporting of the statement for public investment capital in completed projects in the budgetary year

1. Reporting data shall be collected from January 1 to end of December 31 in the calendar year.

2. By January 20 each year, authorities in charge of reviewing the statement (the inferior authorities of ministries, central authorities, state corporations, incorporations, provincial People's Committees) and commune-level People’s Committees shall send the review report on statement of public investment capital for completed projects in the budgetary year to authorities assigned by ministries, central authorities, state corporations, incorporations or provincial People’s Committees to take charge of compiling reports. By February 28 each year, ministries, central authorities, state corporations, incorporations and provincial People's Committees shall send reports on situation of statement of public investments in the completed projects in the year within their jurisdiction to the Ministry of Finance so that the Ministry of Finance completes the statement reports of public investment capital for completed projects in the year for nationwide disclosure purposes.

3. Methods of sending and receiving reports: All reports must be sent and received by paper or electronic means in accordance with applicable laws.

Chapter IV

INSPECTION AND HANDLING OF VIOLATIONS

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1. Investors, project management units, units and organizations in charge of compensation, support and resettlement shall autonomously check the implementation of projects within their jurisdiction.

2. Managing authorities, superiors of investors and financial authorities at all levels shall carry out regular or irregular inspection of investors, project management units, units and organizations in charge of compensation, support and resettlement and contractors executing projects towards utilization of advances and payment for completed works, implementation of budgetary year-end or upon-completion statement within their remit, and compliance with applicable policies, financial regulations for public investment and state budget.

Where there is any defect or violation detected during the inspection process, the inspectorate shall handle within their jurisdiction, and compile reports for submission to the Ministry of Finance or recommendation to competent authorities for handling within their jurisdiction in accordance with applicable laws.

3. Financial authorities at all levels shall carry out the regular or irregular inspection of the payment bodies regarding the compliance with payment regulations for public investment capital. Where there is any defect or violation detected during the inspection process, the inspectorate shall take actions within their jurisdiction or inform such situation to the superior financial authorities for within their jurisdiction.

4. The Ministry of Finance shall carry out the regular or irregular inspection of management, disbursement, payment and statement of public investment capital, annual or upon-completion statement of ministries, central and local authorities. Where there is any defect or violation detected during the inspection process, the Ministry of Finance shall request ministries, central authorities and local authorities to handle within their jurisdiction, or recommend competent authorities for handling in accordance with the laws.

Article 49. Handling of violations

1. Authorities, organizations and individuals committing violations regarding management, payment and statement of projects using public investment capital against violations in this Decree shall be subject to penalties in accordance with the laws.

2. Investors, project management units, units and organizations in charge of compensation, support and resettlement, contractors and individuals committing violations regarding management, payment and statement of projects using public investment capital shall be subject to penalties in accordance with the laws on administrative penalties.

3. Depending on the severity of the violation, authorities, organizations or individuals committing violations shall be subject to disciplinary actions, administrative penalties and criminal prosecution in accordance with the laws.

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DUTIES OF RELEVANT AUTHORITIES

Article 50. Duties of financial authorities at all levels, authorities in charge of reviewing the statement of public investment capital for projects upon completion

1. Carry out public investment financial management in accordance with regimes and policies for management, payment and statement of projects using public investment capital as prescribed in applicable laws and this Decree.

2. Inspect the distribution of state budget-derived public investment capital in accordance with the Law on State Budget and this Decree. Synthesize budgets for mid-term and annual public investment of the state budget (including domestic and overseas capital) within their jurisdiction.

3. Take charge in providing guidelines and inspecting payment bodies, investors, contractors implementing public investment projects regarding management, payment and statement of projects using public investment capital as prescribed in this Decree. Cooperate with regulatory authorities in providing guidelines and inspecting payment bodies, investors, contractors implementing projects using public investment capital regarding their compliance with public investment financial regimes and policies; the status of management, payment and statement of projects using public investment capital in order to prepare measures for handling violations within jurisdiction or proposal to competent authorities for handling.

4. Implement regulations on reporting of payment and statement of public investment capital in accordance with applicable laws.

5. Request payment bodies, managing authorities and investors to provide documents, materials and information necessary to perform the tasks of state management of finance, state budget and public investment including documents serving the needs of management of public investment projects, distribution of budgets, reporting of implementation and disbursement of mid-term and annual public budgets according to regulations on the reporting regime; documents serving the needs of audit of annual and upon-completion statement reports of public investments in accordance with laws on public investment and this Decree.

6. In addition to the duties prescribed in clauses 1, 2, 3, 4 and 5 of this Article, the Ministry of Finance is assigned to carry out the following duties:

a) Assist the Government in the uniform control of management, payment and statement of state budget-derived public investment capital in the budgetary year, and statement of completed projects. Take charge and cooperate with relevant ministries and authorities in taking responsibility for providing guidelines on implementation and implementing this Decree.

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c) Take charge of entering and validating public investment budgets of the state budget on Tabmis on an annual basis.

d) Impose regulations on statement forms and charts and provide guidelines for relevant matters.

dd) Submit the synthesis report to the Government for consideration and decision in special cases where regulations other than those of this Decree on project dossier (legal, advance funding and disbursement dossier), disbursement mechanism (mechanism for advance payment, recovery of advance, payment for completed works) are needed.

e) Provide guidelines for registration and use of accounts at the State Treasury.

7. The authority in charge of reviewing the statement of public investment capital for completed projects shall provide guidelines and inspect the investor’s implementation of statement of public investment capital for completed projects; review of statement reports of public investment capital for completed projects in accordance with this Decree; bear responsibility for direct results of review of the statement reports on the basis of the dossier on statement of public investment capital for completed projects that the investor provides.

Article 51. Duties of payment bodies

1. Take responsibility for disbursement activities to ensure that capital are disbursed in a timely and full manner to projects at the requests of investors when all requirements for legal dossiers, advances and disbursement comply with this Decree. Give written opinions to investors on disbursement reductions or refusals, and respond to queries of investors about capital disbursement.

In case of discovering that documents included the dossier provided by the investor are in breach of applicable regulations, the payment body shall make the written request for reconsideration and clearly state recommendations. After the prescribed deadline, in case of receiving none of answers or any answer in breach of applicable regulations, payment bodies shall report to superior competent authorities and financial authorities for review and further action.

2. Push investors, units and organizations in charge of compensation, support and resettlement to comply with regulations on advance payment, recovery of advance, debts; cooperate with investors in checking over amounts already disbursed in advance to push investors, units and organizations in charge of compensation, support and resettlement to recover amounts of advance disbursement not yet used or misused, and close out accounts of tasks and projects obtaining approval of statement in accordance with regulations. Obtain permission to temporarily suspend capital disbursement or cooperate with investors in recovering capital used to serve wrong purposes, beneficiaries or in breach of applicable regulations on financial management, and report on such situation to the Ministry of Finance for proper actions.

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4. Confirm the disbursement amount in the year and the disbursement amount accumulated from the project commencement date to end of the state budgetary year for specific tasks and projects or confirm the disbursement amount at the administrative request. For foreign capital, the payment body shall confirm such amount according to data on request for advance payment and disbursement by the investor (project owner) that are accepted by the payment body.

5. Provide specific guidelines for controlling and disbursement methods within the system.

Article 52. Duties of ministries, central authorities, provincial People's Committees, commune-level Committees, superiors to investors, relevant authorities and organizations

1. Check and push investors, project management units, units and organizations in charge of compensation, support and resettlement to comply with regulations on management, disbursement/payment and settlement of financial obligations of projects using public investment capital; post the list of investors and project management units violating regulations on the time of preparation of statement reports; strictly handle organizations and individuals violating the regulations.

2. Direct regulatory authorities under management to cooperate with investors in handling any remaining issues of the project (if any) and complete the settlement of debts and closure of accounts of projects within 06 months from the date on which the decision to approve the statement of public investment capital for projects upon completion is issued.

3. Summarize, supervise and report issues related to management, payment and statement of projects using public investment capital in accordance with this Decree.

Article 53. Duties, rights and responsibilities of investors, project management units and contractors executing projects using public investment capital; units and organizations in charge of compensation, support and resettlement

1. Investors, project management units shall:

Comply with laws related to public investment projects within jurisdiction; comply with regulations on investment expenditures in the Law on Public Investment, Law on State Budget; comply with requirements for legal dossiers, advances and disbursement before submission to payment bodies as prescribed in this Decree; take responsibility for management and use of capital to serve correct purposes, managed/receiving subjects; ensure thrift and efficiency.

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For compensation, support, and resettlement funds, the investors (in cases where directly implementing the compensation, support, and resettlement tasks) are responsible for the accuracy of the compensation, support, and resettlement amounts paid to each beneficiary as approved by the competent authority in the compensation, support, and resettlement plan.

c) Be subject to inspection of management, disbursement and statement of projects using public investment capital conducted by financial authorities at all levels and investment decision-issuing authorities.

d) Check the management of advance, payment and statement of investment capital for publicly-funded tasks and projects by contractors to prepare measures for recovery of amounts of advance disbursement not yet used or misused, and closure of accounts of the projects obtaining approval of statement as prescribed by laws. Supervise and push units and organizations in charge of compensation, support and resettlement to recover advances in cases where holders of repossessed land, owners of the property refuses to receive compensation or financial support in accordance with the compensation, support, and resettlement plan approved by competent authorities; or in cases where repossessed land or property are under dispute to deposit into the deposit accounts of units and organizations in charge of compensation, support and resettlement opened at commercial banks in which the State holds controlling shares with a non-term interest rate in accordance with the Law on Land. Take charge in preparing assessment reports on advance payment and recovery of advance as prescribed in this Decree.

dd) Implement intracorporate accounting regime. By end of the budgetary year, make the reconciliation chart showing data on annual public investment capital for specific projects for submission to payment bodies where transactions occur by February 10 in the next year for validation purposes.

e) Make, submit and take control of dossiers on statement of investment capital for completed projects in accordance with the laws.

g) Be accountable to the law and authorities in charge of reviewing the statement regarding the accuracy of estimate works and unit prices approved by competent authorities; works and unit prices of the winning bid as decided by  competent persons; the legality of the statement dossier and the accuracy of data of statement requests. Provide relevant documents to serve the review of statement of projects when authorities in charge of reviewing the statement request in writing.

h) Redisburse surplus capital to the state budget when the completed project obtaining statement approval has the amount eligible for statement which is less than the amount paid to the project within 03 months from the approval of statement; redisburse the amount of advance in accordance with the laws; bear responsibility for the advances that have not yet been recovered; disburse more capital eligible for the approved statement reports to the contractors or suppliers according to the budget plan when the amount prescribed in the statement reports is higher than the disbursed amount.

i) The investor (project owner) shall be responsible for managing and using electronic payment forms issued by the payment body (the State Treasury) for use at publicly-funded investment projects.

2. Contractors shall:

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b) Cooperate with the investors in radically dealing with issues arising from the signed contract; repay the amounts that investors disburse in breach of the laws in a full and timely manner.

c) Comply with decisions on approval of statement of investment capital for completed projects issued by competent persons.

3. Units and organizations in charge of compensation, support and resettlement shall:

a) Comply with the laws on management and payment for projects using public investment capital.

b) Be responsible for the accuracy of the beneficiaries and the compensation, support, and resettlement amounts paid to each beneficiary as approved by the competent authorities in the compensation, support, and resettlement plan; as well as the payment values, data, and documents provided to the investors, the payment bodies, and the state regulatory authorities responsible for managing and disbursing public investment capital.

c) Bear full responsibility for the management and use of compensation, support, and resettlement capital in accordance with the intended purpose and for the correct beneficiaries.

d) Be responsible for fully recovering the advances for compensation, support, and resettlement after making the compensation and support payments to the beneficiaries.

dd) Be subject to inspection by financial authorities at all levels and the investment decision-making authorities regarding the management and payment of publicly-funded projects.

4. Independent audit contractors and auditors, when performing audits of statement reports, shall comply with the principles of independent auditing and have the authority, obligations and responsibilities in accordance with the laws on independent auditing.

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IMPLEMENTATION CLAUSE

Article 54. Transitional handling

1. For legal dossiers submitted to payment bodies before the effective date of this Decree, payment bodies shall consider the information corresponding to requests in legal dossiers as prescribed in this Decree to disburse capital for projects. The investors are not required to complete and resubmit legal dossiers in accordance with regulations in this Decree.

From the effective date of this Decree, if there is any change to the grounds for disbursement, the investors shall supplement and update the information as prescribed in this Decree. Procedures for advance payment, recovery of advances and payment for completed works after the effective date of this Decree shall comply with regulations in this Decree.

2. Regulations on statement of state budget-derived public investment capital in the budgetary year prescribed in Section 1, Chapter III of this Decree shall be applied from the statement of the 2025 budgetary year.

3. If projects, component projects, sub-projects, works and standalone items of work funded by public investment capital already submit statement dossiers upon completion to authorities in charge of reviewing the statement reports and independent audit contracts before the effective date of this Decree, they shall comply with Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government on management, disbursement and statement of projects using public investment capital.

4. For dossiers submitted only, individuals and organizations submitting the dossiers via ministry-level public service website shall comply with Decree No. 61/2018/ND-CP dated April 23, 2018 of the Government on implementation of single-window and interlinked single-window mechanism regarding administrative procedures and stop the website interface before March 01, 2026. From March 01, 2026, individuals and organizations shall submit dossiers and receive results via the National Public Service Portal.

Article 55. Implementation

Ministers; Heads of ministerial authorities; Heads of governmental authorities; Presidents of People's Committees of provinces and cities; heads of political organizations, socio-political organizations, professional socio-political organizations relevant authorities; relevant authorities, organizations and individuals are responsible for implementing this Decree.

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

2. The following legislative documents shall be annulled:

a) Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government on management, disbursement, payment and final settlement of projects using public investment capital, except for some cases as prescribed in Article 54 of this Decree.

b) Article 6 of Decree No. 125/2025/ND-CP dated June 11, 2025 of the Government on decentralization and devolvement of authority of the 02-level local government regarding state management of the Ministry of Finance.

3. In cases where legislative documents prescribed in this Decree are amended, supplemented, or replaced, the newer documents shall prevail.

ON BEHALF OF THE GOVERNMENT
PP. PRIME MINISTER
DEPUTY PRIME MINISTER



Ho Duc Phoc

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