PROCEDURES FOR TRANSFER OF STATE-FUNDED ELECTRICITY WORKS TO VIETNAM ELECTRICITY
The Decision No. 41/2017/QD-TTg on procedures for transfer of state-funded electricity works to Vietnam electricity issued by the Prime Minister on September 15, 2017 and takes effect on November 01, 2017.
The Decision points out clearly that the transfer shall be carried out by recording an increase in state capital invested in EVN according to the value of the transferred electricity works, capital shall not be returned. In case an electricity work is managed and recorded in accordance with regulations of applicable law, the value of the transferred assets equals the remaining value of the electricity work included in the accounting records at the time of stocktaking and valuation. In case an electricity work is located within the premises or facility for public services or within the infrastructure and cannot be separated therefrom, the transferor shall continue to manage and use the land associated with the electricity work to be transferred, sign an agreement with the transferee and enable the transferee to maintain, repair, manage and operate the transferred electricity work.
In case an electricity work is located outside the premises or facility for public services or infrastructure or can be separated therefrom, the land associated with the electricity work shall be transferred. Land rent or land levy is not charged on the area of land associated with the electricity work.
