Joint Circular No. 100/TT-LB guiding the implementation of Decision No. 654/TTg dated November 8, 1994 of the Prime Minister.

JOINT CIRCULAR

Guidelines for implementing Decision No. 654/TTg dated November 8, 1994

of the Prime Minister

__________________________

Based on Decree No. 177-CP dated October 20, 1994 of the Government promulgating the Charter on Investment Management and Construction;

To implement Decision No. 654-TTg dated November 8, 1994 of the Prime Minister regarding the Ministry of Finance's unified management and execution of tasks related to the disbursement and preferential lending of state budget capital for development investment; the Ministry of Finance and the State Bank jointly guide the transfer of files, funds, physical assets, and directly related staff as follows:

I. GENERAL PROVISIONS

1. The General Director of the Vietnam Investment and Development Bank shall transfer to the General Director of the Investment Development General Department all files, funds, physical assets, and directly related staff involved in the implementation of state budget disbursement and preferential lending tasks for development investment projects and programs as stipulated by the Government, ensuring that the Investment Development General Department under the Ministry of Finance can commence operations from January 1, 1995.

2. The Vietnam Investment and Development Bank shall be responsible for the capital already disbursed, lent out, and recovered from projects transferred up to December 31, 1994. The Investment Development General Department shall be responsible for the capital disbursed, lent out, and recovered from projects received after January 1, 1995.

3. Matters arising in 1994 during and after the transfer process shall be continued to be directed and resolved by both Ministries.

4. The transfer must ensure the normal operation of state investment and construction activities without causing loss to state capital and assets.

II- SPECIFIC CONTENTS OF THE TRANSFER

5. Transfer of funds and documents.

5.1. Scope of projects to be transferred:

a. Projects funded by the state budget (including central and local budgets, proceeds from the sale of materials and equipment, depreciation, investment preparation, design planning...).

b. Projects funded by foreign ODA.

c. Preferential credit projects are those ongoing projects recorded in the state’s credit plan and enjoying preferential interest rates, including:

c.1- Infrastructure construction projects.

c.2- Production facilities creating employment.

c.3- Key national investment projects in each period (electricity, cement, steel, water supply...).

c.4- Other projects in sectors with potential for capital recovery will be transferred when included in the state’s 1995 preferential credit plan.

d. Projects funded by public expenditure.

e. Projects funded by C-K capital.

5.2. The Vietnam Investment and Development Bank shall prepare a list of relevant files and records concerning the projects to be transferred, including:

- Approved economic and technical justifications (or reports).

- Approved budgets and total budgets.

- Approved 1994 investment plans.

- Notifications of approved 1994 investment capital disbursements.

- Loan application files (loan explanations, loan contracts).

- Documents approving project final accounts and completion handover (if applicable).

- Summaries of capital disbursements, loans, and recoveries by directly responsible staff.

- Other relevant documents such as letters, notifications, directives from superiors.

5.3. The Vietnam Investment and Development Bank shall transfer to the Investment Development General Department all sources of capital received from the state as mentioned in Point 5.1 for disbursement and preferential lending up to December 31, 1994. Any remaining capital at the Central Vietnam Investment and Development Bank and provincial branches shall be transferred to the Investment Development General Department.

5.4. Provincial and city-level Vietnam Investment and Development Banks shall transfer to the Investment Development Bureau the capital received from the local state budget for disbursement. The amount of capital disbursed, lent out, and outstanding debt of each project as of December 31, 1994, shall be confirmed by the project owner.

6. Transfer of staff.

6.1- Staff directly engaged in state budget capital disbursement and preferential lending tasks (as specified in Point 5.1) at all levels of the Vietnam Investment and Development Bank who were present until November 8, 1994, shall be transferred to the Investment Development General Department system.

6.2- Other related staff include planning, appraisal, inspection, accounting, administrative personnel, agreed upon by the General Director of the Investment Development General Department (Investment Development Bureau Director) and the General Director of the Vietnam Investment and Development Bank (Provincial and City-level Vietnam Investment and Development Bank Directors) based on the principle of ensuring the normal operation of the Vietnam Investment and Development Bank system and the Investment Development General Department system.

6.3- All levels of the Vietnam Investment and Development Bank shall prepare lists along with files of the staff to be transferred as stipulated above and transfer them to the corresponding levels of the Investment Development General Department according to current regulations on staff management.

6.4- For leading staff such as directors and deputy directors of provincial and city-level Vietnam Investment and Development Banks who are expected to move to lead the Investment Development Bureau, opinions from the General Director of the Vietnam Investment and Development Bank should be sought, and the matter should be coordinated with the heads of the Provincial Finance Departments - Price Control, the State Bank, and the provincial and city-level Vietnam Investment and Development Banks before being reported to the Chairman of the People's Committee of the province or city and the Minister of Finance for decision. In case of differing opinions, the Joint Ministries shall make the decision.

6.5- The following staff members do not fall within the scope of the transfer:

- Staff members who do not meet the criteria for new salary classification (insufficient qualifications to continue working), staff members who have reached or exceeded retirement age as prescribed, and are currently processing retirement, disability retirement, pre-retirement leave, or waiting for job termination procedures.

- Staff members currently on sick leave, with a leave duration exceeding six months as of November 8, 1994.

- Temporary staff members employed under short-term contracts, trial contracts, or project-based contracts.

- Officials and employees who have violated discipline and are awaiting handling or are currently undergoing disciplinary measures, are suspended from work for the law enforcement agencies to investigate, are indicted, or are under temporary detention.

7. Transfer of physical assets:

The assets of the Vietnam Investment and Development Bank that fall within the scope of transfer shall be as follows; if there are financial issues arising, the Ministry of Finance and the State Bank will review and handle them.

7.1- For office premises.

a. In places where there are two office premises (the current premises being used and the one under construction which can be used as an office), arrange to transfer one complete office premises corresponding to the number of officials being transferred.

b. In places where there is one office premise consisting of several separate houses, arrange to transfer one or two entire houses corresponding to the number of officials being transferred.

c. In places where the office premise only has one working house, arrange to transfer a part or a contiguous area convenient for both parties' activities, corresponding to the number of officials being transferred.

d. When the Investment Development General Department has a new office premise, it will return to the Vietnam Investment and Development Bank the area previously received.

7.2- For housing already allocated to transferred officials, maintain the status quo for those currently residing there. Any transfer of housing must be agreed upon by the housing management authority in accordance with the current state regulations on housing and land.

7.3- For working houses and housing subject to transfer, maintain their original condition. Do not move, dismantle, or change any equipment or means of work attached to the transferred premises.

7.4- Working equipment such as desks, chairs, cabinets, desktop computers, personal computers, typewriters, calculators, transportation, and communication means serving management, distribution, and preferential lending shall be transferred according to the original condition of the assets of the officials currently using them, corresponding to the number of officials being transferred. Transportation means shall be arranged by both parties to ensure work for both sides.

7.5- At the time of transfer, a list must be prepared and valued based on the remaining value as of December 31, 1994 (excluding types of tools) to record an increase in asset value for the receiving party and a decrease in asset value for the transferring party.

III- IMPLEMENTATION

8. The General Director of the Vietnam Investment and Development Bank and the General Director of the Investment Development General Department are responsible for directing the full implementation of the provisions of this Circular throughout the system and nationwide.

9. The transfer level is specified as follows:

Provincial and municipal investment and development banks (including regional branches of the Vietnam Investment and Development Bank) shall transfer to provincial and municipal investment development bureaus.

The Vietnam Investment and Development Bank specializing in project management shall transfer to the investment development bureau or provincial investment development bureau.

The Central Vietnam Investment and Development Bank shall transfer to the Investment Development General Department.

10. The transfer deadline is uniformly specified as follows:

The transfer of files, funds, physical assets, and personnel must be carried out promptly with appropriate steps but must ensure that the Investment Development General Department system has sufficient conditions to operate from January 1, 1995. Remaining issues will be considered and resolved subsequently.

11. At the time of transfer, a protocol must be established with the witnessing and confirmation of the Provincial Department of Finance - Price Control, the State Bank, and the People's Committee of the province or city. The transfer protocol must be made in five copies and sent to:

- The People's Committee at the same level.

- The Provincial Department of Finance - Price Control

- The State Bank branch of the province or city.

- The transferring party

- The receiving party

12. The Governor of the State Bank and the Director of the Provincial Department of Finance - Price Control have the responsibility to compile the transfer situation in their respective provinces and cities and report to the Governor of the State Bank, the Minister of Finance, and the People's Committee of the province or city.

13. The State Bank and the Ministry of Finance are responsible for compiling the overall transfer situation of the Vietnam Investment and Development Bank system for the Investment Development General Department system and reporting to the Prime Minister no later than June 30, 1995.

14. During the implementation process, if there are difficulties, they should be reported promptly to the Joint Ministries for research and guidance on resolution./.