06 PRINCIPLES OF THE USE OF PUBLIC ASSETS TO MAKE PAYMENT FOR BT PROJECTS
On August 15, 2019, the Government issues the Decree No. 69/2019/ND-CP on prescribing the use of public assets to make payment to investors implementing construction investment projects in the form of build-transfer contracts.
Accordingly, there are 06 principles of the use of public assets to make payment for BT projects as follow:
- Compliance with the laws, public assets may be used only after competent state agencies permit such use in accordance with law;
- The value of public assets shall be determined based on law-prescribed market prices at the time of payment as prescribed in Clause 4 of this Article; the value of BT projects shall be determined based on bidding results;
- The use of public assets to make payment to investors implementing BT projects shall be shown in state budget accounts;
- The time of payment for BT projects is the issuance of the decision to allocate or lease land to the investor.
- The loan interest shown in the financial plan of a BT contract on the value of the completed item of a BT project according to schedule shall no longer exist from the time a competent state agency issues a decision to allocate or lease land or transfer assets to the investor;
- The transfer of public assets to make payment to investors implementing BT projects shall be carried out after a BT project is completed or in correspondence with the completed volume of a BT project.
This Decision takes effect on October 01, 2019.
