7 TYPES OF EXPENSES USED FOR DETERMINING THE TOTAL CONSTRUCTION INVESTMENT
On February 09, 2021, the Government issues the Decree No. 10/2021/ND-CP on the management of construction investment costs.
Specifically, the total construction investment shall be determined according to 07 types of expenses as follows: Compensation, support and resettlement expenses shall be determined on the basis of the compensation, support and resettlement plan of the project as well as relevant mechanisms and policies of the State; Construction costs shall be determined on the basis of the volumes of construction jobs; Project management expenses; Construction investment consultancy expenses; Other expenses shall be determined by the norms of percentage (%) or by the estimation method, etc.
Besides, bidding package estimates shall be determined based on the cost items of each bidding package in conformity with the design, scope, nature, characteristics, and specific conditions of the bidding package. For projects for which work construction cost estimates have been approved, the project owners shall determine the bidding package estimates based on the cost items within the scope of the bidding packages in the approved work construction cost estimates if necessary.
The Ministry of Construction shall develop regulations on management, exploitation and use of the system of databases; guide the contents and methods of building databases; guide the use of the system of databases; build and finalize codes and application software for the management of the system of databases.
This Decree takes effect on the signing date.
