Decree No. 193/2026/NĐ-CP On Settlement of Investment Capital Projects

  DECREE

Regulating the Settlement of Investment Capital for Projects

 

Based on Decree No. 63/2025/QH15 on Organization of the Government;

Based on Decree No. 64/2025/QH15 on Issuance of Normative Legal Documents, as amended and supplemented by Decree No. 87/2025/QH15;

Based on Decree No. 135/2025/QH15 on Construction;

Based on Decree No. 89/2025/QH15 on State Budget, as amended and supplemented by Decree No. 145/2025/QH15;

Based on Decree No. 58/2024/QH15 on Public Investment, as amended and supplemented by Decree No. 90/2025/QH15;

Based on Decree No. 31/2024/QH15 on Land;

Based on Decree No. 22/2023/QH15 on Tendering, as amended and supplemented by Decree No. 57/2024/QH15 and Decree No. 90/2025/QH15;

Based on Decree No. 117/2025/QH15 on Protection of State Secrets;

Based on Decree No. 112/2025/QH15 on Planning;

Based on Decree No. 20/2017/QH14 on Public Debt Management, as amended and supplemented by Decree No. 90/2025/QH15 and Decree No. 141/2025/QH15;

Based on Decree No. 33/2009/QH12 on Overseas Missions of the Socialist Republic of Vietnam, as amended and supplemented by Decree No. 19/2017/QH14;

In accordance with the proposal of the Minister of Finance;

The Government promulgates this Decree to regulate the settlement of investment capital for projects.

 

CHAPTER I

GENERAL PROVISIONS

 

Article 1. Scope of Application

1. This Decree regulates the settlement of investment capital for investment projects, tasks (projects or costs) in preparation for investment, project preparation, task planning (hereinafter referred to collectively as "project") using public investment funds, recurrent expenditures from state budget, other state budget funds not falling within the scope of application of the Public Investment Law after completion, suspension, temporary cessation, or termination according to a document approving such cessation by an authorized decision-maker.

2. Projects, works, and work items utilizing part or all of public investment funds, recurrent expenditures from state budget, other state budget funds not falling within the scope of application of the Public Investment Law: shall be uniformly implemented in accordance with the provisions of this Decree, except for projects specifically regulated by the Government or the Prime Minister.

Projects utilizing contributions in kind, labor days, or completed works: based on the value of such contributions, labor day values, or the value of completed works for settlement to account for and manage the project's value.

Projects implemented through the use of funds as construction materials support, other material support forms: the People's Committee at the provincial level shall specify the procedures for settling the supported capital in accordance with actual conditions.

3. Investment projects utilizing official development assistance (ODA) and preferential loan resources from donors: shall be settled according to international agreements on ODA and preferential loans, specific Decree guidance by the Government, and specific Circular guidance by the Ministry of Finance. In cases where there are no such provisions in international agreements, decrees, or specific circulars, they shall be settled in accordance with this Decree.

4. Entities, organizations, and individuals may apply the provisions of this Decree to prepare settlement reports, review, and approve the settlement of investment capital for projects not falling within the scope of application under paragraphs 1 and 2 of this Article, and shall be responsible for their decisions.

5. Projects included in the list of state secrets as defined by laws on protection of state secrets implemented by the Ministry of Defense and the Ministry of Public Security, and investment projects of overseas missions of the Socialist Republic of Vietnam: the Ministers of Defense, Public Security, and Foreign Affairs shall specify procedures for preparing settlement reports, reviewing, and approving the settlement of investment capital in accordance with special management requirements and bear responsibility for their regulations.

Article 2. Scope of Application

This Decree applies to agencies, organizations, and individuals related to the final accounting of investment capital for projects within the scope of application as specified in Article 1 of this Decree after completion or cessation of implementation.

Article 3. Interpretation of Terms

1. Other state budget funds not falling under the scope of public investment law are those state budget funds used for expenditures according to the provisions at paragraph 5, point b and c of paragraph 1, point 37, and points b and d of paragraph 1, Article 39 of the State Budget Law to implement projects in accordance with legal provisions.

2. Legal costs are all expenses actually incurred within the scope of the project, as per the approved budget and contracts signed in compliance with legal provisions (for works carried out under contract), including adjusted and supplemented portions approved according to regulations and within the proper authority.

 

Chapter II

SPECIFIC PROVISIONS

 

Article 4. Investment Capital for Final Accounting

Investment capital for final accounting is all legal costs incurred (including payment settlement expenses, insurance fees, charges, auditing and approval of final accounts) during the investment process to bring the project into operation, use, or cessation as per the document authorizing such cessation by the competent authority. The invested costs must be within the approved total investment limit or adjusted and supplemented in accordance with legal provisions.

Article 5. Final Accounting for Component Projects, Sub-Projects, Works, Independent Work Items

1. Where the project approval document allocates component projects or independent sub-projects (capable of independent operation, use, or phased investment) and separate investment decisions are made: each component project or independent sub-project shall prepare a final accounting report, undergo auditing, and obtain approval for final accounts as an independent investment project. Component projects or independent sub-projects that have been audited and approved for final accounts in accordance with regulations do not need to be re-audited and re-approved unless the competent authority approving the overall project's final account decision requests it.

Central ministries, state-owned enterprises, provincial people's committees are responsible for managing main component projects or acting as the lead entity to compile sub-projects under their management. They shall report the results of the total final accounting of investment capital for significant national projects to the Prime Minister and the Ministry of Finance.

2. For preparatory investment projects:

a) Where preparatory investment funds are allocated within the project's approved budget for implementation, the decision on separate final accounting for the preparatory investment project or joint final accounting with the main project is made by the competent authority responsible for the project.

b) Where preparatory investment funds are separately allocated, the final accounting shall be conducted as an independent sub-project and consolidated in accordance with the provisions of paragraph 1 of this Article.

c) Where a preparatory investment project has not received approval for its investment decision or project initiation, the expenses incurred by the preparatory investment project shall be accounted for as if it were a discontinued project.

3. For compensation, support, and resettlement:

a) Where the content of compensation, support, and resettlement in the project approval document is separated into an independent project: final accounting reports and auditing and approval thereof shall be prepared as an independent project.

b) For other cases: the entity or organization responsible for implementing compensation, support, and resettlement tasks shall report on such costs to the same-level people's committee with the authority to approve the compensation, support, and resettlement plan. This will facilitate approval of the compensation, support, and resettlement costs and submission of a decision approving these costs to the project owner for consolidation into the overall final accounting report of the investment project.

c) Where the compensation, support, and resettlement plan for the project was approved by the county people's committee before implementation of the two-tier local government model, the entity or organization responsible for implementing such tasks (after transitioning to the two-tier local government model) shall continue to implement the compensation, support, and resettlement according to land law provisions and report on the costs incurred. The decision approving these costs will be submitted to the people's committee managing the entity or organization tasked with implementing such tasks for final approval.

d) The lead auditing authority for the overall project does not need to re-audit the compensation, support, and resettlement costs that have been approved unless the competent authority approving the overall project's final account decision requests a re-audit of these costs.

The authority responsible for approving the compensation, support, and resettlement costs shall assign a specialized unit under its management or a professional civil servant (at the commune level where no department is established) to lead the auditing process. Specific timelines for preparing, auditing, and approving such costs will be stipulated to ensure they do not delay the project owner's final accounting process.

4. For construction projects, independent project components (capable of independent operation and utilization), upon completion and commencement of use in the project: where it is necessary to conduct a review and approve the final account, the investor shall report to the authority authorized to decide on the investment project for consideration and decision to allow the final accounting. The value of the final account includes construction costs, equipment costs, consulting fees, and other directly related costs associated with such construction or component.

5. For projects where all sub-projects, minor projects, construction works, or equipment have been completed and handed over for operation but compensation, support, and resettlement costs are incomplete: the investor shall report to the authority authorized to decide on the investment project to allow the submission of a final accounting report for the implemented project expenses for review by the agency responsible for reviewing the final account; the cost of compensation, support, and resettlement is accounted based on the legally implemented value. In cases where additional compensation, support, and resettlement costs continue to be incurred, the final accounting for such additional costs shall be conducted in accordance with the provisions set forth in Clause 3, Point b, Point c, and Point d of this Decree.

6. Matters related to the preparation of the final account report, review, and approval of the investment project's final account are carried out in accordance with the provisions of this Decree.

Article 6. Final Account Report

1. The report must fully and accurately determine the following contents:

a) Detailed implementation capital for the investment project.

b) Total investment cost proposed for final accounting.

c) Loss costs during the investment process.

d) Costs permitted to be excluded from asset value.

e) Value of assets formed.

2. The Minister of Finance shall issue a system of forms used in the final account work for investment projects and provide guidance on related matters.

Article 7. Documentation for Review and Approval of Final Account

The investor shall submit one copy of the documentation to the authority authorized to approve the final account and another copy to the agency responsible for reviewing the final account of the investment project (the submission can be direct or through postal services as specified by the Prime Minister, via hiring a business entity, individual, or through delegation in accordance with the law, or through the document management and operation program according to regulations). In cases where the authority authorized to approve the final account is also the head of the agency responsible for reviewing the final account, the investor shall submit only one copy of the documentation to the agency responsible for reviewing the final account. The documentation must be in original form or a copy certified by the investor or notarized according to legal provisions or an electronic document as specified by law and includes the following documents:

1. For completed investment projects, construction works, or components where construction and installation have been completed and the project has stopped implementation with work volume:

a) A report requesting approval of the final account for the investment project from the investor. In cases where an independent auditor conducts an audit, the report must specify the agreed-upon matters, disputed matters, and reasons for disagreement between the investor and the independent auditor. If any supervisory, inspection, auditing, or investigation agencies (hereinafter referred to as inspectors) have conducted inspections, audits, or investigations on the project, in the report, the investor must indicate compliance with the recommendations and conclusions of such agencies.

b) A final account reporting form according to the provisions set forth in Clause 2, Article 6 of this Decree.

c) Legal documents related to the project.

d) Final accounting documentation for all aspects of the project; each contract's final accounting file includes: the contract and any supplementary appendices (if applicable); inspection minutes for completed work by phase; inspection minutes for completion of the entire contract; a calculation table of the final account value between the investor and the contractor (hereinafter referred to as Final Account A - B) according to Form No. 01/QTDA attached hereto; a termination document for the contract in cases where conditions for contract termination are met under legal provisions on contracts; other documents related to the review, approval of final account implementation as agreed upon in the contract.

e) Completion inspection minutes (if applicable).

f) Transfer documentation into operation and use (if applicable)

g) Independent auditor's audit report in cases where an independent auditor conducts an audit.

h) Audit report or audit result notification (hereinafter collectively referred to as audit report), inspection conclusion, inspection minutes, decision on violation handling by auditing, supervisory, and inspection agencies when such agencies conduct audits, inspections, and investigations of the project; investigation results, effective judgments from legal bodies in cases where the project violates laws and is under investigation or trial. The investor's report accompanied by relevant documents regarding compliance with recommendations from the aforementioned agencies.

2. For planning projects, preparatory investment projects, or projects that have stopped implementation without construction work:

a) A report requesting approval of the final account for the investment project from the investor. In cases where an independent auditor conducts an audit, the document must specify the agreed-upon matters, disputed matters, and reasons for disagreement between the investor and the independent auditor. If any supervisory, inspection, auditing, or investigation agencies have conducted inspections, audits, or investigations on the project, in the document, the investor must indicate compliance with the recommendations and conclusions of such agencies.

b) A final account reporting form according to the provisions set forth in Clause 2, Article 6 of this Decree.

c) Legal documents related to the project.

d) Documentation of the project's cost settlement, including for each contract: the contract and any supplementary appendices (if applicable), stage-wise quantity verification minutes upon payment stages (if applicable); approval documents for adjustments, supplements, occurrences, changes (if applicable), quantity verification minutes according to the contract (if applicable), A - B settlement document according to Form No. 01/QTDA (if applicable), and a termination agreement for the contract in cases where it meets legal conditions for contract termination.

đ) Independent audit report in the case of independent auditing being conducted.

e) Audit reports, inspection conclusions, inspection minutes, decision on handling violations by national audit agencies, inspectors, or auditors when they conduct audits, inspections, and verifications; investigation results, effective judgments by law enforcement agencies if the project violates laws and is under investigation. The investor's report accompanied by relevant documents regarding compliance with recommendations from the aforementioned agencies.

3. The investor shall present project documentation to support cost settlement verification upon written request by the lead agency responsible for such verification.

4. For investment projects, planning projects, preparatory investment projects that are suspended:

The competent authority approving the project issues a document allowing suspension of the project after receiving approval from the higher-level authority to suspend the project's main initiative (excluding projects not requiring approval of the main initiative). Based on the documentation, quantities, and settlement data as of the effective date of the document allowing suspension, the investor shall prepare the cost settlement for the executed portion of the project and submit it for verification and approval in accordance with this Decree.

5. In cases where the contractor fails to settle the contract as required by law, based on the contract, the investor may issue a written notice (Form No. 02/QTDA attached to this Decree) requesting the contractor to complete settlement or supplement and finalize the settlement documentation or fulfill remaining work items for settlement with a deadline. After sending three notices (each at least 10 days apart), if the contractor still fails to comply within 15 days from the third notice, the investor may prepare the settlement based on actual executed documents without signatures or seals of the contractor and submit it for verification and approval of investment capital settlement. The investor must clearly state in the proposal that the contractor did not cooperate with the settlement process. Any losses or damages resulting from non-compliance by the contractor are their responsibility, and they must comply with the decision on approving the investment capital settlement.

Article 8. Approval Authority and Lead Agency for Cost Settlement Verification

1. Approval authority for cost settlement:

a) For national key projects decided to be invested in by the Prime Minister: The head of the department, central agency, legal representative of state-owned enterprises or conglomerates, chairperson of people's committee at provincial level, and chairperson of people's committee at district level approve the cost settlement for the project or its components, independent sub-projects using public investment funds, recurrent expenditures from government budget, other government budgetary funds not falling under the scope of laws on public investment.

The investor approves the cost settlement for project components and independent sub-projects that do not use public investment funds, recurrent expenditures from government budget, or other government budgetary funds not falling under the scope of laws on public investment.

b) For other projects: the authority deciding to invest in the project is also responsible for approving the cost settlement of the investment.

c) During and after the process of reorganizing local government structures at two levels, this applies as follows:

In cases where a provincial-level chairperson transfers management responsibility of a project to the provincial level: subordinate agencies under the province inherit all responsibilities for the project from the district. The provincial-level chairperson is responsible for approving the cost settlement.

In cases where a provincial-level chairperson transfers management responsibility of a project to the district level: subordinate agencies at the district level inherit all responsibilities for the project from the province. The district-level chairperson is responsible for approving the cost settlement.

d) Authorities deciding on cost settlement approval as per points b and c in this paragraph may delegate or authorize such approvals according to laws on construction, laws on government organization, local government organization laws, and other relevant laws.

2. Lead agency for cost settlement verification:

a) For projects using public investment funds, projects using recurrent expenditures from the government budget, other government budgetary funds not falling under the scope of laws on public investment within the decision-making authority of the provincial-level chairperson: the Department of Finance leads and organizes the verification.

b) For projects using public investment funds, projects using recurrent expenditures from the government budget, other government budgetary funds not falling under the scope of laws on public investment within the decision-making authority of the district-level chairperson: in districts with a finance department, the district-level chairperson delegates to a specialized financial department for verification; in districts without such departments, the chairperson delegates to a financial specialist under their management.

b) For projects utilizing public investment funds, projects utilizing recurrent expenditures from the state budget, and other state budget funds not falling within the scope of the law on public investment, where such decisions are within the authority of the Chairman of the People's Committee at the commune level: in communes with a department, the Chairman of the People's Committee at the commune level delegates to a specialized department responsible for financial functions to take the lead in organizing the review; in communes without a department, the Chairman of the People's Committee at the commune level delegates to a professional civil servant under his management to conduct the review.

c) For other projects: the authority approving the final account shall delegate such task to a unit with the relevant functions under its management to organize the review of the final account of the investment project before approval.

d) In cases where necessary, the organization or individual assigned the task of leading the review of the final account may report to the authority approving the final account of the investment project for the establishment of a Review Team to conduct the review of the final account of the investment project before submission. The composition of the Review Team shall include representatives with authority from relevant units and agencies. The tasks of the members of the Review Team shall be determined by the authority establishing the team.

d) Specifically, for tasks and investment projects involving digital infrastructure systems on a national or regional scale using public sector investment funds as specified in Clause 1 of Article 10 of Resolution No. 193/2025/QH15 dated February 19, 2025, of the National Assembly on pilot mechanisms and special policies to drive breakthroughs in scientific research, innovation, creative development, and digital transformation: where the National Audit Office or inspection agencies conduct audits and issue audit reports and conclusions as required by Article 11 of this Decree, the project owner shall prepare a final account report based on such audit reports and conclusion, submit it for approval to the authority with decision-making power; no prior review is required before approval.

Article 9. Audit of Final Accounts

1. National-level projects, Group A projects (excluding those in the national secret list), investment projects using public sector funds, and other public sector funds not falling under the scope of the law on public sector investment must undergo audit of final accounts before submission for review and approval by the competent authority.

The project owner shall organize a tender for auditing in accordance with the provisions of the law on procurement and enter into an auditing contract in compliance with the law on contracts. The project owner, independent auditing firm, and relevant units shall act in accordance with the provisions set forth in Clauses 2 and 3 hereof.

2. Independent auditing firms are Vietnamese enterprises established and operating in accordance with the law on establishment and operation of enterprises in Vietnam, and comply with the laws on independent auditing and current auditing standards.

3. For projects where the National Audit Office or inspection agencies conduct audits and inspections:

a) In cases where the National Audit Office or an inspection agency conducts audits and issues audit reports and inspection conclusions that contain all the contents specified in Article 11 of this Decree, the agency responsible for reviewing the final accounts will use the audit report from the National Audit Office and the conclusion of the inspection as the basis for review; there is no need to engage a separate external auditor.

b) In cases where the National Audit Office or an inspection agency conducts audits and inspections that do not contain all the contents specified in Article 11 of this Decree, based on paragraph 1 of this provision, the project owner shall determine the additional audit content and scope, and select a separate external auditor for supplementary auditing if necessary. The cost of supplementary auditing is determined in accordance with the provisions of Article 20 of this Decree regarding the determination of costs for engaging a separate external auditor. The agency responsible for reviewing the final accounts will use the audit report from the National Audit Office, the conclusion of the inspection, and the audit report from the separate external auditor as the basis for reviewing the project's final account.

c) In cases where the National Audit Office or an inspection agency has made a decision to conduct audits and inspections on a project while a separate external auditor is performing the contract for auditing, the separate external auditor shall perform the audit according to the content of the contract already concluded.

Article 10. Audit Review of Final Accounts for Projects, Components, Sub-projects, Works, and Work Items Already Subject to Audits or Inspections

1. Where the independent audit contractor has conducted an audit of the final account report, the agency responsible for reviewing the final accounts shall conduct a review on the following contents:

a) Verify the legality of the independent audit contract, scope of audit, time frame, and procedures for conducting the audit related to the project.

b) Compare the content of the project's audit report with the audit content as stipulated by regulations and current auditing standards. In cases where there are errors in the audit results, non-compliance with requirements, or insufficient content according to regulations, the agency responsible for reviewing the final accounts shall notify the investor to request the independent audit contractor to conduct a re-audit or supplementary audit.

c) Verify compliance with relevant laws and regulations, as well as legal grounds used by the auditor in auditing the project.

d) Examine the investor's objections to the audit results of the independent audit contractor.

d) Review the implementation by the investor and related units of the conclusions from inspection, supervision, and state audit agencies, as well as investigation results from law enforcement agencies when these agencies conduct inspections, supervisions, audits, or investigations on the project.

2. Where the State Audit Agency or supervisory agency concludes that all contents stipulated in Article 11 of this Decree are present:

a) Compare the content of the State Audit's audit report and the supervisory conclusion with the investor's final account report to determine compliance by the investor and related units with legal provisions; data for approving the final accounts based on the results of audits, inspections as a basis for submission to the competent authority for review.

b) Verify the implementation by the investor and related units of the conclusions from inspection, supervision, state audit agencies, and investigation results from law enforcement agencies.

3. Where the results of the final accounts review do not align with the audit report, supervisory conclusion, inspection records, or penalty decisions of State Audit, supervision, inspection, or investigation agencies, the agency responsible for reviewing the final accounts shall report to the competent authority for approval and request written comments from the aforementioned agencies on the non-aligned contents (specifying a response deadline). In case the responding agency does not provide feedback within the specified period, the agency responsible for reviewing the final accounts shall make decisions based on State Audit Law, supervision law, and other relevant laws.

Article 11. Audit Review of Projects, Components, Sub-projects, Works, and Work Items Not Subject to Audits or Inspections

The agency responsible for reviewing the final accounts shall conduct a review in accordance with the provisions of Articles 12, 13, 14, 15, 16, and 17 of this Decree and prepare a report on the results of the final accounts review including the following contents:

1. Legal documentation.

2. Actual investment funds.

3. Investment costs.

4. Costs not included in asset value.

5. Value of assets formed.

6. Outstanding debts, materials, and equipment.

7. Implementation by the investor and related units of conclusions from legal bodies and other agencies (if applicable).

8. Comments, evaluation, and recommendations:

a) Evaluate implementation of national regulations on budget management, public investment, construction, tendering, and relevant laws; management and use of investment funds; cost control and asset management by the investor; responsibilities at each level for managing project investment.

b) Determine the value to be approved in the final accounts report and address related issues.

Article 12. Legal Review of Documentation

The agency in charge of legal review for final accounts shall base its examination on reports and relevant legal documents of the project, and compare them with related legal provisions to provide comments on:

1. Procedures for drafting and approving documents, approval authority for such documents.

2. Compliance with investment procedures as stipulated in laws concerning state budget, public works investment, construction, and other relevant legal provisions.

3. Compliance with the procedures for selecting contractors as stipulated in procurement laws.

4. Adherence to legal provisions on contracts during contract formation between the investor and the contractor.

Article 13. Review of Project Investment Implementation Capital

1. Compare the capital structure implemented for project investment with the capital structure determined in the approved total investment estimate.

2. Cross-check annual disbursement data of the investor against payment agency records.

3. Check implementation of adjustments to the invested capital as permitted by competent authorities according to regulations.

4. Comment and evaluate compliance with management, payment regulations; management and use of project investment capital.

Article 14. Review of Investment Costs

1. Principles for review:

a) Review adherence to contract and decision provisions on the results of contractor selection by competent authorities; type of contract (regardless of procurement method). Examine summarized cost data and itemized costs reported in the final account report by the investor.

b) Where necessary, the agency in charge of final account review may inspect as-built documentation to determine completed work volumes that have been inspected according to regulations.

2. Review of compensation, support, and resettlement costs:

a) Compensation, support, and resettlement costs carried out by the investor or entities tasked with such responsibilities: compare the value claimed in the final account report by the investor or entity responsible for compensation, support, and resettlement with approved compensation, support, and resettlement plans, cost estimates to ensure implementation of compensation, support, and resettlement, forced inventory checks, and land acquisition decisions that have been approved. Verify payment lists for organizations and individuals receiving compensation, support, and resettlement funds with signatures or receipts confirming receipt into their accounts (where applicable) according to regulations to determine the final account value. The establishment, approval, use, and settlement of costs related to implementation of compensation, support, and resettlement, forced inventory checks, and land acquisition are carried out in accordance with land law.

b) Value of completed construction projects as approved by competent authorities: base on the decision approving the final account report by a competent authority, the investor's or entity's payment request for construction works, and settlement documents to determine the value of invested costs. If a competent authority requests review of the final account, it shall be conducted in accordance with the provisions of paragraph 3 of this Article.

3. Review of Costs:

a) For costs implemented through contracts:

Based on each type of contract signed between the investor and contractor according to construction, procurement, and contract laws, examine and compare work content, completed volume, unit prices in the final account value calculation A - B with as-built inspection records for completed works based on contractual requirements, unit prices stipulated in the contract, to determine the value of completed work that has been inspected according to regulations.

In cases where there are adjustments to volumes or unit prices, and national policies: base on as-built inspection records, volume adjustment principles, and unit price clauses in the contract, applicable policies consistent with the time of contract execution to determine the value of completed work that has been inspected according to regulations.

For incurred costs: based on corresponding provisions for adjusting contracts for each type of contract and relevant legal provisions to conduct review.

b) For costs not implemented through contracts:

For costs calculated by predetermined percentage rates: examine and compare conditions specified in the application of such rates to determine the cost value for each type of work.

For detailed budgeted costs that have been approved: examine and compare the claimed final account values with approved budgets to evaluate the reasonableness, legality, and validity of cost items.

4. Review of Project Management Costs:

a) In accordance with the Ministry of Finance's regulations on revenue and expenditure for investors and project management entities using state budget funds.

b) Disposal of assets by the investor or project management entity upon completion of the project in accordance with laws governing public asset management, related laws.

Article 15. Audit of Investment Costs Not Included in the Value of Assets

1. Audit of investment costs that are permitted to be excluded from the value of assets due to force majeure events shall be conducted according to the following contents:

a) Determine such costs in accordance with the principles and procedures prescribed by the State for damage costs.

b) The value of damages as recorded in the inspection report must be verified, confirmed, and recommended for handling by the investor, contractor, supervisory consultant, and insurance contractor.

2. Audit of non-asset-forming costs such as: training, capacity enhancement, and skill development costs for management agencies or communities; project management office costs not directly related to assets formed and transferred in localities; investment damage costs due to subjective reasons like the cancellation of investment volume according to a competent authority's decision; costs already incurred without resulting in damages, producing goods but such products are not used for the project as survey results, designs completed and of high quality but unused due to the investor changing the design; unfinished investment costs (projects halted) that do not form assets; repair costs and disaster recovery costs shall not be capitalized according to accounting laws and regulations on asset management.

Article 16. Audit of the Value of Formed Assets

1. Determine the value of assets as a result of the project, engineering, or independent engineering item's implementation process.

2. Asset standards, classification of assets, allocation of values, original asset costs, and asset handling are results of the project implementation process and shall be carried out in accordance with laws on public asset management and related laws.

Article 17. Audit of Inventory of Outstanding Debts, Materials, Equipment

1. Audit to determine debts:

a) Based on the audit results of investment costs, identify the amounts already paid to each organization or individual of the investor to clearly define receivables and payables according to their respective parties.

b) Examine and recommend handling schemes for revenues that should be remitted to the state budget but have not been submitted, as well as balances in bank accounts and cash at the fund.

2. Check and determine the value of remaining materials, equipment:

a) Verify the value of remaining materials, equipment according to accounting records, compare with actual inventory counts.

b) Examine and recommend handling schemes for the investor regarding the value of remaining materials, equipment.

c) The disposal of recovered materials during project implementation shall be carried out in accordance with laws on public asset management and related laws.

Article 18. Audit of Final Accounts for Planning Projects, Pre-Investment Preparation Projects, and Halted Projects Without Construction or Equipment Installation Inspection

1. Audit the legal documentation of the project.

2. Audit the investment funds implemented in the project.

3. Audit investment costs.

4. Audit investment costs not included in the value of assets.

5. Audit the value of formed assets (if applicable).

6. Audit project debts.

7. Compliance by the investor and related units with conclusions, recommendations from auditing, inspection, National Audit Office, or investigation bodies (if any).

8. Comments, evaluation, and recommendations.

Article 19. Documentation for Approval of Final Accounts

1. The agency responsible for reviewing final accounts shall prepare documentation for the approval of final accounts of project investment funds to be submitted to the competent authority for approval after completing the review of the final accounts (submitted directly or through postal services as stipulated by the Prime Minister, via hiring a business entity, individual, or through delegation in accordance with the law, or according to the document and administrative management program). Documentation for the approval of final accounts includes:

a) Report on the results of the review of final accounts.

b) Draft decision approving the final accounts (project, component project, independent minor project, construction work, or construction item).

c) Review documentation from the agency responsible for reviewing when requested by the competent authority to approve the final accounts.

2. The report on the results of the review of final accounts includes the following main contents:

a) Overview of the entire project and issues already decided by the competent authority during the implementation of the project.

b) Summary of the review results in accordance with the prescribed review sequence as stipulated in this Decree.

c) Recommendations for approving the final accounts value of the investment project.

d) Recommendations for resolving existing issues related to investment capital, assets, and debts, materials, construction materials, and equipment after the final account of the investment project.

3. The decision approving the final accounts shall be sent to the following agencies and units: the investor, the superior management agency of the investor, the payment agency (or an agency authorized to control or pay for state-invested projects of the Ministry of National Defense and the Ministry of Public Security), the competent authority deciding on investment in the project, the agency responsible for reviewing final accounts, and the Prime Minister, Ministry of Finance (for major national projects and projects decided by the Prime Minister).

Article 20. Independent Audit Costs and Review, Approval Costs of Final Accounts

The costs of independent audit, review, and approval of final accounts are part of the other cost items in the approved total investment estimate or adjusted value of the project, as well as the value of the final account of the investment.

1. Independent audit, review, and approval costs:

a) In cases where the value of the project, component project, minor project, construction work, or independent construction item falls within the range specified in paragraph 1, points b and c of this Article, the rate for determining the cost of independent audit, the rate for determining the review and approval costs are calculated according to the following formula:

Where:

Ki: The rate for determining the cost corresponding to the value of the project, component project, minor project, construction work, or independent construction item that needs to be calculated (unit is percentage).

Ka: The rate for determining the cost corresponding to the upper limit value of the project, component project, minor project, construction work, or independent construction item (unit is percentage).

Kb: The rate for determining the cost corresponding to the lower limit value of the project, component project, minor project, construction work, or independent construction item (unit is percentage).

Gi: The value of the project, component project, minor project, construction work, or independent construction item that needs to be calculated (unit is billion Vietnamese dong).

Ga: The upper limit value of the project, component project, minor project, construction work, or independent construction item (unit is billion Vietnamese dong).

Gb: The lower limit value of the project, component project, minor project, construction work, or independent construction item (unit is billion Vietnamese dong).

b) Independent audit costs:

The cost of independent audit for the project, component project, minor project, construction work, or independent construction item is the maximum cost, determined based on the value required for hiring an independent auditor multiplied by the rate determined according to the provisions in point a of paragraph 1 of this Article and added with value-added tax. The minimum cost of independent audit is one million Vietnamese dong and added with value-added tax.

c) Review and approval costs:

The cost of review and approval for the project, component project, minor project, construction work, or independent construction item is the maximum cost, determined based on the value for final account approved by the investor multiplied by the rate determined according to the provisions in point a of paragraph 1 of this Article. The minimum cost of review and approval is five hundred thousand Vietnamese dong.

d) Equipment costs accounting for ≥ 50% of the value required for independent audit or the value for final account prepared by the investor are determined at 70% of the rate calculated according to points a, b, and c of paragraph 1 of this Article.

e) For projects, component projects, minor projects, construction works, or independent construction items that have been independently audited by the contractor for final account reports or reviewed and inspected fully by the National Audit Office or inspection agencies according to the provisions in Article 11 of this Decree: The cost of review and approval is determined at 50% of the rate calculated according to paragraph 1 of this Article.

2. Management and utilization of review and approval costs:

2. Management and utilization of review and final account approval costs:

a) The agency responsible for reviewing and approving final accounts shall, based on the provisions of paragraph 1 of this Article and the review and approval submission package submitted by the investor as per the procedures stipulated in this Decree, be responsible for determining specifically the cost of reviewing and approving final accounts. Thereafter, it shall submit a written request to the investor for payment of the costs associated with the review and approval.

For projects where the annual plan has been allocated but the investor is still in the process of preparing the final account submission package as per Article 21 of this Decree, the agency responsible for reviewing and approving final accounts shall base its request for payment on the reviewed or adjusted costs of review and approval, or the budget (if applicable). The agency responsible for reviewing and approving final accounts, based on the provisions of paragraph 1 of this Article and the submission package submitted by the investor as per the procedures stipulated in this Decree, is responsible for determining specifically the cost of reviewing and approving final accounts. In cases where the amount already paid by the investor exceeds the reviewed or adjusted costs of review and approval, the agency responsible for reviewing and approving final accounts shall refund to the investor the excess amount to reduce the value of the project's final account.

The investor may request the payment agency to pay the agency responsible for reviewing and approving final accounts based on the written request from the agency responsible for reviewing and approving final accounts and the costs determined under paragraph 1 of this Article.

b) The expenses incurred in the review and approval process include:

Direct expenses for the review and approval, paid either as a lump sum or based on the time taken to review and approve the project as per the provisions of Article 21 of this Decree;

Payment for experts or consulting organizations conducting final account reviews where the agency responsible for reviewing and approving final accounts has entered into contracts with such experts or hired such organizations;

Expenses for miscellaneous work, office supplies, translation, printing, conferences, seminars, computer purchases or equipment needed for the review and approval process;

Other expenses related to the review and approval of final accounts.

c) Based on the costs of reviewing and approving final accounts and the provisions regarding expenditures as per point b of paragraph 2 of this Article, the agency responsible for reviewing and approving final accounts shall develop a spending regulation for the review and approval process. This regulation will be submitted to the head of the superior administrative body for examination and decision-making on approval, serving as the basis for annual implementation until such time as the regulation is revised or supplemented (if applicable).

d) The revenue from the costs of reviewing and approving final accounts does not need to be sourced from salary reform funds; it shall not be consolidated with general administrative expenses nor be included in the annual financial plan of the agency responsible for reviewing and approving final accounts. Any unused expenditure on review and approval costs may be carried over to the next year for implementation.

Based on the revenue sources and expenditures as per paragraph 2 of this Article, the agency responsible for reviewing and approving final accounts shall prepare a payment mandate (Model No. 05.b/TT issued with Decree No. 254/2025/NĐ-CP dated September 26, 2025, by the Government on managing, paying, and settling projects using public investment funds) to request payment for review and approval costs based on the expenditures as per point b of paragraph 2 of this Article. This shall be submitted to the payment agency for processing. The agency responsible for reviewing and approving final accounts does not need to submit receipts, contracts, or purchase invoices to the payment agency. Based on the request from the agency responsible for reviewing and approving final accounts, the payment agency will process the payment for review and approval costs.

3. In cases where the investor has provided all necessary documentation as per the audit contract but the independent auditor fails to perform certain tasks, the investor may adjust and reduce the independent audit cost in proportion to the unperformed work based on the terms of the contract and the volume of work not performed by the auditor.

4. In cases of force majeure or changes in the scope of work under a signed contract, the investor and the independent auditor shall adjust or supplement the contract terms as per relevant legal provisions governing contracts.

Article 21. Time for Establishing Files, Reviewing, and Approving Final Accounts of Investment Projects

The maximum time specified is as follows:

1. The time for the investor to establish final account files for submission and approval is calculated from the date when the project or work has been completed, transferred for operation and use in accordance with legal provisions, or the effective date of the document authorizing the suspension of the project until the date when the investor submits a complete set of documents to the agency responsible for reviewing the final accounts.

2. The time for reviewing final accounts is calculated from the date the agency responsible for reviewing the final accounts receives a complete set of final account documents (as provided in Article 7 of this Decree) until the date when it submits such documents to the authority with approval powers.

3. The time for approving final accounts is calculated from the date the authority with approval powers (as specified in Clause 1, Article 8 of this Decree) receives a complete set of submitted final account documents (as provided in Clause 1, Article 19 of this Decree) until the date when the decision approving the final accounts is issued.

Article 22. Reporting on the Final Accounts Situation for Investment Projects Utilizing Public Funds During the Year

1. The data to be reported are compiled from January 1st to December 31st of the Gregorian calendar year.

2. By January 20th each year, the agency responsible for reviewing final accounts (which is subordinate to central ministries, central agencies, state-owned enterprises, and provincial people's committees) and the local people's committee shall submit a report on the final accounts situation of investment projects utilizing public funds in that year to the agency assigned by the central ministries, central agencies, state-owned enterprises, and provincial people's committees to be responsible for compiling reports. By February 28th each year, the central ministries, central agencies, state-owned enterprises, and provincial people's committees shall submit a report on the final accounts situation of investment projects utilizing public funds under their management to the Ministry of Finance for compilation and public disclosure of the national final accounts situation.

3. The method of submitting and receiving reports: by paper or electronic document in accordance with current regulations.

 

Chapter III

REVIEW AND DISPOSITION OF VIOLATIONS

 

Article 23. Reviewing the Final Accounts Situation for Investment Projects

1. The investor's supervisory agency, higher-level agencies of the investor, and financial authorities at all levels regularly or on a spot-check basis review the implementation of final account work by units under their management. In case any errors or violations are discovered during the inspection, the inspecting authority handles them within its jurisdiction, while simultaneously compiling and reporting to the Ministry of Finance for coordinated handling according to its jurisdiction or recommending relevant authorities handle them in accordance with current legal provisions.

2. The Ministry of Finance regularly or on a spot-check basis reviews the implementation of final account work by central agencies and localities nationwide. In case any errors or violations are discovered, the Ministry of Finance makes comments requesting relevant central agencies and localities to handle them within their jurisdiction or compiles and recommends relevant authorities handle them in accordance with current legal provisions.

Article 24. Handling of Violations

1. An entity, organization, or individual who engages in the settlement of investment project funds in violation of this Decree shall be punished according to the provisions of the law.

2. Depending on the severity of the violation, an entity, organization, or individual who commits a violation may be subject to disciplinary action, administrative penalty, or criminal prosecution according to the provisions of the law.

 

Chapter IV

MISSIONS OF RELEVANT AGENCIES

 

Article 25. Missions of financial agencies and the agency in charge of reviewing settlement

1. Missions of financial agencies at all levels

a) The Ministry of Finance assists the Government in unifying state management over project investment settlement. It stipulates the system of templates to be used in project investment settlement work and guides related matters. It is responsible for guiding and organizing the implementation of this Decree.

b) Financial agencies at all levels guide, inspect the implementation of legal provisions on project investment settlement within their jurisdiction and subordinate units. In case of discovering errors or violations, they require the inspected unit to adjust accordingly, handle it within their authority, or request relevant authorities to handle it according to current laws.

2. Missions of the agency in charge of reviewing settlement

a) Guide and inspect the investor to timely and fully implement project investment settlement work as stipulated in this Decree.

b) Organize review of the full content of the project investment settlement report, requiring solutions for any arising issues during the settlement process; take responsibility for the direct results of the review based on the settlement documents provided by the investor.

c) Do not bear responsibility for the accuracy of quantities verified and reported by the investor and contractor, prices in the budget estimate approved by competent authorities, or contract-winning prices recorded in the contract.

d) Bear full responsibility for the accuracy and legality of the content of expenditures and their value when requesting the State Treasury to make payments from the audit and settlement funding sources.

e) Require payment agencies, supervisory bodies, and investors to provide necessary documents and information as required by law and this Decree for project investment settlement work.

Article 26. Missions of the payment agency

1. Confirm and reconcile disbursement data to support project investment settlement work at the investor's request.

2. Process payments for audit and settlement expenses according to the investor's or the reviewing agency's request as stipulated in paragraph 2 of Article 20 of this Decree.

Article 27. Missions of central ministries, provincial people's committees, district-level people's committees, superior agencies of investors, other relevant organizations and entities

1. Guide, inspect, and urge investors and subordinate units under their jurisdiction to implement project investment settlement work according to regulations.

2. Approve the project investment settlement within their authority and in accordance with the prescribed time limits.

3. Publicize a list of projects where investors have violated reporting deadlines; strictly handle any collective or individual violations according to regulations.

4. Direct functional units under their management to cooperate with investors to address remaining issues of the project (if any) and complete debt settlement, finalizing project accounts within six months from the date of issuance of the decision approving the project investment settlement.

4. Directing functional units under management to cooperate with the project owner in handling any remaining issues of the project (if any) and completing the settlement of debts, closing out the project's accounts within six months from the date of issuance of the decision approving the final account for the investment project.

Article 28. Duties of the Investor, Project Management Board, and Contractor

1. The investor and project management board:

a) Urge and request the contractor to carry out contract settlement in accordance with regulations.

b) Prepare and manage the project investment settlement file, submit it for approval within the time limit specified in Article 21 of this Decree; provide all relevant documents promptly upon written request by the agency responsible for reviewing the settlement or the person authorized to approve the settlement.

c) Bear legal responsibility for the accuracy of the quantities and budget prices approved by the competent authority, the quantities and bid prices confirmed by the investor, the legality of the settlement file, and the correctness of the data requested in the settlement.

d) Recover and remit to the state treasury any excess funds paid when the project is settled with a lower amount than what was paid for the project; recover temporarily advanced funds according to regulations and bear responsibility for overdue advances that have not been recovered. Pay the contractor or supplier based on the approved settlement value if there are funds available in the case where the settlement amount exceeds the amount already paid for the project.

2. The contractor:

a) Prepare the contract settlement file, settle the value of work performed under the contract with the investor in accordance with legal provisions on contracts when all contractual obligations have been completed; bear responsibility for the data and legality of documents related to the settlement file as per regulations.

b) Cooperate with the investor to resolve any remaining issues according to the signed contract; return promptly and fully any funds advanced by the investor that were disbursed in violation of established procedures.

c) Comply with the decision approving the project investment settlement issued by the authorized person.

3. Independent auditor, audit firm when performing the audit report on the settlement must adhere to the principles of independent auditing, have authority, obligations, and bear responsibility as per legal provisions on independent auditing.

 

Chapter V

CONDITIONS FOR IMPLEMENTATION

 

Article 29. Transitional Provisions

1. Projects, project components, sub-projects, independent works, or work items that have submitted settlement files to the agency responsible for reviewing settlements and independent audit contracts signed before this Decree takes effect: shall be implemented in accordance with the provisions of Decree No. 254/2025/NĐ-CP dated September 26, 2025, issued by the Government on management, payment, and settlement of projects using public investment funds.

2. Settlement A - B signed by the investor and contractor before this Decree takes effect shall not be re-established or resubmitted according to the provisions of this Decree.

Article 30. Organization for Implementation

The Ministers, heads of agencies at the same level as ministries, chairpersons of people's committees in provinces and cities, heads of political organizations, political-social organizations, professional political-social organizations, and relevant agencies, organizations, and individuals shall be responsible for implementing this Decree.

Article 31. Enforceability

1. This Decree shall take effect from July 1, 2026.

2. The phrase "settlement of project completion" at Point a and the provisions at Points b and c of Clause 5, Article 13 of Decree No. 88/2025/NĐ-CP dated April 13, 2025, which provides detailed regulations and guidelines for certain articles of Resolution No. 193/2025/QH15 dated February 19, 2025, of the National Assembly on pilot special mechanisms and policies to promote national scientific, technological, innovative, and digital transformation development shall be repealed.

3. Article 58 of Decree No. 358/2025/NĐ-CP dated December 31, 2025, which stipulates the mechanism for managing and implementing national target programs, shall be repealed.

4. The phrase "settlement of investment capital project completion" at Point d of Clause 3 and Point b of Clause 1, Article 9; and Point b of Clause 1, Article 10 of Decree No. 254/2025/NĐ-CP shall be replaced with "settlement of investment capital project".

5. The following provisions in Decree No. 254/2025/NĐ-CP shall be repealed:

a) Clauses 3 of Article 1; Clause 7 of Article 50; Clause 2 of Article 52; Points e, g, h of Clause 1, Article 53; Points a, c of Clause 2, Article 53; Clause 4 of Article 53.

b) Articles 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, and 47.

c) The phrase "settlement of investment capital project completion" at Clauses 2 and 4 of Article 48; Clauses 5 and a of Clause 6, Article 50.

d) The phrase "settlement of public investment project completion" at Point b of Clause 6, Article 50.

e) The phrase "settlement of public investment project completion" in Mẫu số 03.C/QT at the Appendix of the System of Forms.

6. In case any legal documents referred to in this Decree are replaced or amended and supplemented, such replacement or amendment shall be implemented according to the relevant document./.

 

 

(Attached to Decree No. 193/2026/NĐ-CP of the Government dated June 1, 2026)

STT
Content

 

 

Independence - Freedom - Happiness

 

…, day …month …year …
CALCULATION TABLE FOR CONTRACT SETTLEMENT VALUE BETWEEN INVESTOR AND CONTRACTOR (SETTLEMENT A - B)
_______________________
1. Project Name: …

 

2. Package Name: …

 

3. Contract (including contract adjustments, supplements, and appendices if any): …

4. Investor/Project Management Board: …

5. Contractor: …

6. Basis for Determination: Acceptance Certificate of Completed Works for the entire contract or Acceptance Certificate of Completed Works for each instance of the contract (if the contract is suspended before full completion); Handover and Utilization Acceptance Certificate (if any)

STT

Name of Work (including work, phase, part/goods/equipment/advisory services/other costs) as per contract

Settlement Value:

In Figures: … dong

In Words: ....................................................................

 

 

Form No. 02/QTDA

 

 

Based on Decree No. ... dated ... by the Government regarding project settlement;

 

Based on Decision No. ... dated ... by ... approving the project and adjusting or supplementing (if applicable);

Based on Decision No. ... dated ... by ... awarding the contract for the project and adjusting or supplementing (if applicable);

Based on Contract No. ... dated ... between ... (name of investor) and ... (name of contractor), and any supplementary contract (if applicable);

Based on ... (state other relevant bases such as permission to extend the implementation period of the contract, etc., if applicable);

Based on the Completion Quantity Inspection Minutes, the Contract Termination Minutes (if applicable).

To ensure timely preparation of the project settlement report in accordance with the prescribed time; ... (name of investor) requests ... (name of contractor) to perform the following:

1. Regarding supplementation and completion of missing or non-compliant documents and materials (specifically list the documents and materials that are still missing or do not comply according to specific document provisions):

2. Regarding submission time for documents and materials:

Request ... (name of contractor) to supplement and complete all missing or non-compliant documents and materials (as stated above), submit them to ... (name of investor) before the date ... month...year.

Beyond this period, if ... (name of investor) has not received the aforementioned missing or non-compliant documents and materials; ... (name of investor) will prepare a consolidated settlement report for project capital investment to be reported to the competent authority for review and approval in accordance with regulations. Any losses or damages (if any) shall be borne by ... (name of contractor).

... (name of investor) has comments for ... (name of contractor) to note and cooperate.

For reference: