THE CAPITAL ADVANCED OF PUBLIC INVESTMENT PLAN MUST NOT EXCEED 20%
The Government issues the Decree No. 120/2018/ND-CP on amendments to a number of articles of the Decree No. 77/2015/ND-CP on annual and medium-term public investment plan, No. 136/2015/ND-CP guiding the implementation of a number of articles of the Law on Public Investment and No. 161/2016/ND-CP on stipulating a special mechanism for construction investment management of a number of projects under national target programs during 2016-2020. Noticeably, the new Decree amends the provision on the capital advanced of public investment plan. Accordingly, the capital advanced from next year’s budget estimate must not exceed 20% of the estimated capital expenditure and must not exceed the total capital for projects that is specified in the 5-year plan provided.
Concurrently, this Decree supplements the specific time for implementation and disbursement with projects funded by ODA and concessional loans of foreign sponsors:
- The foreign capital specified in the annual public investment plan and recorded as debts of Vietnamese Government but not yet disbursed, the time shall be extended by December 31 of the year succeeding the plan year;
- The foreign capital specified in the annual public investment plan but not yet recorded as debts of Vietnamese Government but disbursed, upon the end of the time limit for adjustments to the final statement of state budget, capital which have been estimated but not yet disbursed shall be cancelled.
This Decree is issued and takes effect on September 13, 2018.
