Government Issues Instructive Decree on Enforcement of Public Investment Law

The Government recently issued Decree 40/2020/ND-CP detailing the enforcement of some articles of the Law on Public Investment.

The decree details 12 contents in the Law on Public Investment. It provides detailed regulations on dossier, content and time of evaluation, investment policy decision, investment policy adjustment decision, adjustment cases, and project categories (A, B and C). It details dossiers, contents and time of appraising and deciding a program or a project; contents, order and procedures for elaborating and appraising adjustment of public investment programs and projects classified as A, B and C projects; principles, competence, order and procedures for deciding investment policies; and principles, competence, content, order and procedures for formulating, appraising and deciding investment in public investment projects classified as A, B and C projects in foreign countries.

The decree also guides the decentralization of authority, order and procedures for deciding investment policies and investment decisions for programs and projects of groups A, B and C funded by the State budget, and subjects and contents of preliminary environmental impact assessment to decide project investment policies.

This decree, which takes effect from April 6, 2020, is applied to organizations and individuals that participate in or are related to public investment, manage and use public investment capital. For projects without construction components, the formulation, appraisal, approval and management is subject to comply with this decree and relevant specialized laws.

Thu Ha (Vietnam Business Forum)