Law on Public Investment No. 39/2019/QH14

LAW
PUBLIC INVESTMENT

On the basis of the Constitution of the Socialist Republic of Vietnam;

The National Assembly promulgates the Public Investment Law.

 PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Law regulates the state management of public investment; the management and utilization of public investment capital; the rights, obligations, and responsibilities of agencies, units, organizations, and individuals related to public investment activities.

Article 2. Applicability

This Law applies to agencies, units, organizations, and individuals participating in or related to public investment activities, the management and utilization of public investment capital.

Article 3. Application of the Public Investment Law, international treaties, and international agreements

1. The management and utilization of public investment capital, public investment activities must comply with the provisions of this Law and other relevant laws.

2. In cases where an international treaty to which the Socialist Republic of Vietnam is a member has different provisions from those of this Law, the provisions of that international treaty shall apply.

3. The implementation of public investment programs and projects abroad must comply with the provisions of international treaties to which the Socialist Republic of Vietnam is a member and international agreements between the Vietnamese side and the foreign side.

Article 4. Definitions

In this Law, the following terms shall be understood as follows:

1. Feasibility Study Report for Investment Proposal is a document presenting preliminary research contents on the necessity, feasibility, effectiveness, estimated sources of funds and capital levels of public investment programs, group B and group C projects as the basis for competent authorities to decide on investment proposals.

2. Preliminary Feasibility Study Report is a document presenting preliminary research contents on the necessity, feasibility, effectiveness, estimated sources of funds and capital levels of national key projects and group A projects as the basis for competent authorities to decide on investment proposals.

3. Detailed Feasibility Study Report is a document presenting research contents on the necessity, degree of feasibility, effectiveness, sources of funds and capital levels of public investment programs and projects as the basis for competent authorities to decide on investment.

4. Ministries, central agencies, and localities are agencies and organizations authorized

a) Central agencies of political organizations, Supreme People's Procuracy, Supreme People's Court, State Audit Agency, Office

b) Provincial People's Committees;

c) Other agencies and organizations assigned public investment plans.

5. Program Manager is the agency or organization entrusted to manage the public investment program.

6. Project sponsors is the agency or organization entrusted to directly manage public investment projects.

7. Investment Proposal is the decision of the competent authority on the main contents of the investment program and project, serving as the basis for preparing, submitting, and approving the investment decision for the program and project, and approving the detailed feasibility study report for public investment projects.

8. Public Investment Program is a set of objectives, tasks, and solutions aimed at implementing economic and social development goals.

9. National Target Program is a public investment program aimed at achieving specific economic and social goals within a certain period nationwide.

10. Managing agency is the Ministry, central agency, and locality defined in Clause 4 of this Article managing programs and projects.

11. Specialized Agency for Public Investment Management is the unit with the function of managing public investment under the Ministry of Planning and Investment; the unit entrusted with managing public investment of ministries, central agencies, and localities; departments and offices with the function of managing public investment under the People's Committee of districts and communes.

12. State Management Agency for Public Investment includes the Government, the Ministry of Planning and Investment, People's Committees at all levels.

13. Public Investment Project is a project using all or part of public investment capital.

14. Emergency Public Investment Project is a public investment project aimed at promptly preventing, combating, and mitigating the consequences of natural disasters, catastrophes, epidemics; urgent tasks to ensure national defense, security, and diplomacy according to the decision of the competent authority.

15. Public Investment is the state investment activity in programs, projects, and other public investment objects as prescribed by this Law.

16. Public Investment Activities include the preparation, review, and decision on investment proposals; the preparation, review, and decision on public investment programs and projects; the preparation, review, approval, assignment, implementation of public investment plans and projects; the management and utilization of public investment capital; acceptance and handover of programs, final accounts of investment projects; monitoring and evaluation, inspection, and audit of plans, programs, and projects.

17. Public Investment Plan is a set of objectives, directions, program and project lists for public investment; balancing public investment capital, allocation schemes, resource mobilization solutions, and implementation measures.

18. Investment Preparation Tasks are activities to prepare, review, and decide on investment proposals and to prepare, review, and decide on investments for projects.

19. Planning Tasks are activities carried out to prepare, review, decide, approve, announce, and adjust planning as prescribed by the Planning Law.

20. Construction Arrears is the value of completed work volume that has been accepted but lacks allocated capital for that completed work volume.

21. 分级管理国家公共投资的权限 是指确定有权机关、组织和个人在公共投资活动中的职权和责任。

22. 公共投资资金 指本法规定的：财政资金；国家机关、事业单位按照法律规定用于投资的合法收入。

23. 中央财政资金 指用于中央财政发展投资的财政资金，依照《预算法》的规定。

24. 地方财政资金 指用于地方财政发展投资的财政资金，依照《预算法》的规定。

25. 中央财政补助地方专项资金 指属于中央财政的资金，补充地方用于具体任务决定的公共投资项目。

Article 5. Public Investment Objectives

1. Investing in economic and social infrastructure programs and projects.

In cases where it is truly necessary to separately invest in compensation, support, resettlement, and land clearance for national key projects as decided by the National Assembly; for Group A projects as decided by the National Assembly; and for Group A projects as decided by the Prime Minister or provincial People's Committees according to their respective authorities, such separate investment projects shall be implemented upon approval of the investment proposal for national key projects and Group A projects.

2. Investing to serve the operations of state agencies, public service organizations, political organizations, and socio-political organizations.

3. Investing and supporting activities to provide public goods and social welfare services.

4. State investment participation in implementing projects through public-private partnership models.

5. Investing to serve the work of planning, reviewing, deciding, approving, announcing, and adjusting plans as prescribed by laws on planning.

6. Providing interest rate subsidies, management fees; capital contributions to policy banks and non-budgetary state financial funds; and supporting other policy targets as decided by the Prime Minister.

The Government shall stipulate the procedures and formalities for implementing investments for the objects specified in this clause.

Article 6. Classification of Public Investment Projects

1. Based on nature, public investment projects are classified as follows:

a) Construction component project refers to new construction, renovation, upgrading, and expansion of existing projects, including the purchase of assets and equipment.

b) Non-construction component project refers to asset purchases, acquisition of land use rights, purchase and repair of equipment and machinery, and other projects not specified in point a of this clause.

2. Based on importance and scale, public investment projects are classified into national key projects, Group A projects, Group B projects, and Group C projects according to the criteria set forth in Articles 7, 8, 9, and 10 of this Law.

Article 7. Criteria for Classifying National Key Projects

National key projects are independent projects or clusters of closely linked works falling under one of the following criteria:

1. Using public investment capital of 10,000 billion VND or more;

2. Having significant impacts on the environment or potential severe impacts on the environment, including:

a) Nuclear power plants;

b) Using land requiring changes in land use purposes from national parks, natural conservation areas, scenic protection zones, research and experimental forest areas of 50 hectares or more; protective forests at the headwaters of 50 hectares or more; windbreak, sand barrier, wave barrier, sea reclamation, and environmental protection forests of 500 hectares or more; production forests of 1,000 hectares or more;

3. Using land requiring changes in land use purposes from irrigated rice fields for two or more crops with a scale of 500 hectares or more;

4. Resettling displaced persons of 20,000 people or more in mountainous regions, and 50,000 people or more in other regions;

5. Projects that require special mechanisms and policies to be decided by the National Assembly.

Article 8. Criteria for Classifying Group A Projects

Except for national key projects as defined in Article 7 of this Law, projects falling under one of the following criteria are classified as Group A projects:

1. Projects regardless of total investment amount falling under any of the following categories:

a) Defense and security projects with top-secret levels;

c) Industrial park, export processing zone, and high-tech park infrastructure projects;

2. Projects with a total investment amount of 2,300 billion VND or more in the following sectors:

a) Transportation, including bridges, seaports, river ports, airports, railways, national highways;

b) Power industry;

c) Oil and gas exploitation;

d) Chemicals, fertilizers, cement;

đ) Machinery manufacturing, metallurgy;

e) Mineral extraction and processing;

g) Housing construction;

3. Projects with a total investment amount of 1,500 billion VND or more in the following sectors:

a) Transportation, except projects specified in point a of clause 2 of this Article;

b) Water conservancy;

c) Water supply and drainage, waste treatment, and other technical infrastructure works;

d) Electrical engineering;

đ) Information and electronic equipment production;

e) Pharmaceutical chemicals;

g) Material production, except projects specified in point d of clause 2 of this Article;

h) Mechanical engineering works, except projects specified in point đ of clause 2 of this Article;

i) Postal and telecommunications;

4. Projects with a total investment amount of 1,000 billion VND or more in the following sectors:

a) Agriculture, forestry, aquaculture;

b) National parks, natural conservation areas;

c) Technical infrastructure of new urban areas;

d) Industry, except projects in the industrial sectors specified in clauses 1, 2, and 3 of this Article;

5. Projects with a total investment amount of 800 billion VND or more in the following sectors:

a) Health, culture, education;

b) Scientific research, information technology, broadcasting, television;

c) Warehousing;

d) Tourism, sports;

đ) Civil construction, except housing construction projects specified in point g of clause 2 of this Article;

e) Projects in defense and security sectors, except projects specified in clauses 1, 2, 3, and 4 of this Article.

Article 9. Criteria for classifying projects in Group B

1. Projects in the fields specified in Clause 2 of Article 8 of this Law with total investment amounts from VND 1,200 billion to under VND 23,000 billion.

2. Projects in the fields specified in Clause 3 of Article 8 of this Law with total investment amounts from VND 800 billion to under VND 15,000 billion.

3. Projects in the fields specified in Clause 4 of Article 8 of this Law with total investment amounts from VND 600 billion to under VND 10,000 billion.

4. Projects in the fields specified in Clause 5 of Article 8 of this Law with total investment amounts from VND 450 billion to under VND 8,000 billion.

Article 10. Criteria for classifying projects in Group C

1. Projects in the fields specified in Clause 2 of Article 8 of this Law with total investment amounts under VND 1,200 billion.

2. Projects in the fields specified in Clause 3 of Article 8 of this Law with total investment amounts under VND 800 billion.

3. Projects in the fields specified in Clause 4 of Article 8 of this Law with total investment amounts under VND 600 billion.

4. Projects in the fields specified in Clause 5 of Article 8 of this Law with total investment amounts under VND 450 billion.

Article 11. Adjusting criteria for classifying public investment projects

1. The National Assembly decides on adjusting the criteria for classifying important national projects as stipulated in Article 7 of this Law.

2. The Government shall submit to the Standing Committee of the National Assembly for decision on adjusting the criteria for classifying public investment projects as stipulated in Articles 8, 9, and 10 of this Law, and report to the National Assembly at the nearest session.

3. The adjustment of the criteria for classifying public investment projects as stipulated in Clauses 1 and 2 of this Article shall be carried out in cases where there is significant price index fluctuation or significant changes in the tiered management of public investment related to the criteria for classifying public investment projects, or when other important factors affecting the criteria for classifying public investment projects arise.

Article 12. Principles of managing public investment

1. Compliance with legal regulations on the management and use of public investment capital.

2. Consistency with the strategy for socio-economic development, the five-year socio-economic development plan of the country, and relevant planning according to legal regulations on planning.

3. Properly performing the responsibilities and authorities of state administrative agencies, organizations, and individuals related to the management and use of public investment capital.

4. Managing the use of public investment capital in accordance with the regulations applicable to each source of capital; ensuring focused, synchronized, high-quality, economical, efficient, and balanced resource allocation; preventing loss and waste.

5. Ensuring transparency in public investment activities.

Article 13. Contents of State Management over Public Investment

1. Issuing and implementing legal normative documents on public investment.

2. Developing and implementing strategies, programs, plans, solutions, and policies on public investment.

3. Monitoring and providing information on the management and use of public investment capital.

4. Evaluating the effectiveness of public investment; inspecting, auditing, and supervising compliance with legal regulations on public investment and adherence to public investment plans.

5. Handling violations of law, resolving complaints and denunciations of organizations and individuals related to public investment activities.

6. Awarding state agencies, organizations, units, and individuals who have achieved success in public investment activities.

7. International cooperation in public investment.

Article 14. Transparency in Public Investment

1. The contents of transparency in public investment include:

a) Policies, laws, and the organization of their implementation in managing and using public investment capital;

b) Principles, criteria, and allocation standards for public investment capital;

c) Principles, criteria, and bases for determining project lists in medium-term and annual public investment plans;

d) Investment programs and plans on the administrative region, including allocated capital for each program annually, progress in implementation, and disbursement of public investment programs;

đ) Project lists on the administrative region, including scale, total investment cost, time, location; reports on the overall impact assessment of projects on the investment area;

e) Medium-term and annual public investment capital allocation plans, including project lists and the amount of public investment capital allocated to each project;

g) Situations of mobilizing resources and other sources participating in implementing public investment projects;

h) Implementation situations and results of plans, programs, and projects;

i) Progress in implementation and disbursement of projects;

k) Results of acceptance, evaluation of programs, and projects;

l) Final accounts of public investment capital.

2. Heads of agencies, organizations, and units must implement the transparency of public investment contents as prescribed by law.

Article 15. Costs for Preparing, Reviewing, Monitoring, Inspecting, Evaluating, and Auditing Public Investment Plans, Programs, and Projects

1. Costs for preparing and reviewing feasibility study reports and proposals for investment policies using regular operating funds of the agencies and units performing these tasks.

2. Costs for preparing and reviewing pre-feasibility study reports and proposals for investment policies for projects using preparation investment funds.

3. Costs for preparing and reviewing public investment plans using regular operating funds of the agencies and units preparing and reviewing the plans.

4. Costs for monitoring, inspecting, and evaluating plans, programs, and projects using regular operating funds of the agencies and units performing these tasks.

5. Costs for auditing using regular operating funds of the agencies and units conducting audits.

6. For programs and projects using Official Development Assistance (ODA) funds and preferential loans from foreign donors, it is encouraged that donors provide financial support to cover the costs stipulated in this Article.

Article 16. Prohibited Acts in Public Investment

1. Deciding on investment policies not in accordance with strategies, master plans, or plans; unable to determine funding sources and financial balance capabilities; beyond authority, procedures, and formalities as prescribed by law.

2. Deciding on investment programs and projects without prior approval from competent authorities or inconsistent with the objectives, scope, scale, exceeding the total investment capital of approved investment policies; adjusting the total investment capital of programs and the total investment cost of projects contrary to the law on public investment.

3. Misusing positions and powers to embezzle, seek personal gain, or engage in corruption in managing and using public investment capital.

4. Program sponsors and investors colluding with consulting organizations and contractors leading to investment policy decisions and program/project investment decisions causing loss of state capital and national resources; harming and infringing upon the legitimate interests of citizens and communities.

5. Giving, receiving, or brokering bribes.

6. Requiring organizations and individuals to self-fund investments when programs and projects have not been decided on investment policies, not yet approved, resulting in arrears in basic construction.

7. Using public investment capital for purposes not intended, for non-designated recipients, exceeding standards and quotas as prescribed by law.

8. Fabricating or distorting information, documents, and files related to investment policy decisions, investment decisions, and the implementation of programs and projects.

9. Intentionally reporting or providing inaccurate, untruthful, and biased information affecting the preparation, review, decision-making of plans, programs, and projects, monitoring, evaluation, inspection, audit, and handling violations in the implementation of plans, programs, and projects.

10. Intentionally destroying, deceiving, concealing, or retaining incomplete documents, vouchers, and files related to investment policy decisions, investment decisions, and the implementation of programs and projects.

11. Obstructing the detection of violations of public investment laws.

Chapter II

INVESTMENT POLICY DECISIONS AND INVESTMENT DECISIONS

CHAPTER INVESTMENT PROGRAMS AND PROJECTS

Section 1

DECISION ON INVESTMENT POLICY AND APPROVAL OF INVESTMENT PROGRAMS AND PROJECTS

Article 17. Competence to decide on investment policy for programs and projects

1. The National Assembly decides on the investment policy for the following programs and projects:

a) National Target Programs;

b) National Key Projects.

2. The Government decides on the investment policy for public investment programs using central budget funds, except for the programs specified in point a, Clause 1 of this Article.

3. The Government shall specify the delegation of competence, procedures, and formalities for deciding on the investment policy for programs and projects using lawful revenues from state agencies and public service units designated for investment, in accordance with regulations on financial autonomy of these agencies and units.

In cases where the programs and projects specified in this Clause use state budget funds, the competence, procedures, and formalities shall be implemented in accordance with the provisions of this Law for programs and projects using state budget funds.

4. The Prime Minister decides on the investment policy for the following programs and projects:

a) Projects specified in Clause 1 of Article 8 of this Law; Group A projects using central budget funds managed by Ministries and central agencies;

6. Provincial People's Councils decide on the investment policy for Group A projects managed by localities, except for projects specified in Clause 4 of this Article.

7. People's Councils at all levels decide on the investment policy for Group B and Group C programs and projects using local government budgets, including supplementary targeted funds from higher-level budgets and lawful sources of funding under their management, except for projects specified in Clause 4 of this Article.

In necessary cases, the People's Council may decide to delegate the authority to decide on the investment policy for projects specified in this Clause to the People's Committee at the same level, in accordance with the development goals, orientation, financial capacity, and specific characteristics of the locality.

8. In cases of adjusting the investment policy for programs and projects, the competence to decide on the investment policy for programs and projects shall be carried out in accordance with the provisions of Clause 1 of Article 34 of this Law.

Article 18. Conditions for deciding on the investment policy for programs and projects

1. Consistent with the economic and social development strategy, plan, and relevant planning regulations as decided or approved by the competent authority.

2. Not overlapping with existing programs and projects that have already been decided on the investment policy or investment decision.

3. Consistent with the ability to balance public investment capital sources and the ability to mobilize other capital sources for programs and projects using multiple sources of capital.

4. Consistent with the ability to borrow and repay public debt, government debt, and local government debt.

5. Ensuring economic, social, defense, security effectiveness, and sustainable development.

6. Tasks and projects not requiring a decision on investment policy include:

a) Investment preparation tasks;

b) Planning tasks;

c) Urgent public investment projects;

d) Component projects of national target programs;

đ) Component projects of projects that have already been decided on the investment policy by the competent authority.

Article 19. Procedures and formalities for deciding on the investment policy of national target programs and important national projects

1. The agency assigned the task of preparing investment for programs and projects shall be responsible for:

a) Assigning subordinate units to prepare reports proposing the investment policy for national target programs, and feasibility study reports for important national projects;

b) Establishing a Council to review the reports proposing the investment policy and feasibility study reports;

c) Completing the reports proposing the investment policy and feasibility study reports to submit to the Prime Minister.

2. The Prime Minister shall establish a National Review Board chaired by the Minister of Planning and Investment to review the reports proposing the investment policy for national target programs and feasibility study reports for important national projects.

3. The Government shall submit to the National Assembly for consideration and decision on the investment policy for national target programs and important national projects.

4. The National Assembly's agency shall examine the dossier on national target programs and important national projects submitted by the Government.

5. The National Assembly shall consider and adopt a resolution on the investment policy for national target programs and important national projects. The main contents of the resolution include: objectives, scale, total investment capital, main technology, location, time, progress, mechanism, and implementation policies.

Article 20. Dossier for deciding on the investment policy for national target programs and important national projects

1. The Government's submission.

2. Reports proposing the investment policy for national target programs, and feasibility study reports for important national projects.

3. The National Review Board's review report.

4. Other related documents.

Article 21. Procedures and contents for examining the investment policy for national target programs and important national projects

1. The examination procedures are as follows:

a) At least 60 days before the opening of the National Assembly session, the Government shall send the dossier for deciding on the investment policy for national target programs and important national projects to the leading examination agency;

b) The leading examination agency has the right to request the Government and relevant agencies, organizations, and individuals to report on issues related to the content of national target programs and important national projects; organize field surveys on issues related to the content of national target programs and important national projects;

c) Agencies, organizations, and individuals requested by the leading examination agency have the responsibility to provide complete information and documents to serve the examination.

2. THE CONTENTS OF THE REVIEW INCLUDE:

a) Compliance with criteria for determining national target programs and important national projects;

b) The necessity of investing in programs and projects;

c) Compliance with legal regulations;

d) Consistency with economic and social development strategies and plans and relevant planning regulations under the law on planning;

đ) Basic parameters of the program and project, including objectives, scale, investment form, scope, location, land area required, time, progress, selection of main technology, environmental protection solutions, sources of funding, ability to recover capital and repay loans;

e) Economic and social effectiveness assessment, ensuring defense and security and sustainable development;

g) Assessment of consistency with land use planning, allocation and zoning schemes in relevant planning, other related planning concerning natural resources, resettlement plans for important national projects invested domestically;

h) Risk assessment at the country of investment for important national projects invested abroad.

Article 22. Procedures and formalities for deciding on investment policy programs under the authority of the Government

1. The program leader shall be responsible for:

a) Assigning subordinate units to prepare a report proposing the investment policy;

b) Assigning units with the function of reviewing or establishing a Council to review the report proposing the investment policy;

c) Completing the report proposing the investment policy for submission

2. The Prime Minister shall establish an inter-ministerial Council or assign the Ministry of Planning and Investment to take the lead and coordinate with relevant agencies to review the report proposing the investment policy.

3. The program leader shall complete the report proposing the investment policy according to the review opinions stipulated in Clause 2 of this Article for submission to the Government.

4. The Government shall examine and decide on the investment policy of the program, including objectives, scope, scale, total investment capital, time, progress, mechanism, and solutions, implementation policies.

Article 23. Procedures and formalities for deciding on investment policy for Group A projects under the authority of the Prime Minister

1. Heads of Ministries, central agencies, and local authorities shall be responsible for:

a) Assigning subordinate units or specialized agencies to organize the preparation of a preliminary feasibility study report;

b) Assigning units or agencies with the function of reviewing or establishing a Council to review the preliminary feasibility study report;

c) Directing the units or agencies specified in point a of this clause to complete the preliminary feasibility study report for submission to the Prime Minister.

For Group A projects using ODA funds, preferential loans from foreign sponsors, and projects specified in Clause 1 of Article 8 of this Law prepared by provincial People's Committees, the provincial People's Committee shall submit the preliminary feasibility study report to the same-level People's Council for comments before submitting it to the Prime Minister.

2. The Prime Minister shall decide to establish an inter-ministerial review Council or assign an agency to lead the review of the preliminary feasibility study report as the basis for deciding on the investment policy of the project.

The inter-ministerial review Council or leading agency may invite organizations or individuals with expertise and experience to participate in reviewing the preliminary feasibility study report or request the investor to select organizations or individuals with expertise and experience to participate in reviewing the preliminary feasibility study report.

3. The Ministry of Planning and Investment shall lead the review of funding sources and the ability to balance funds and send the review opinions to the inter-ministerial review Council or leading agency.

4. The inter-ministerial review Council or leading agency specified in Clause 2 of this Article shall send the review opinions to Ministries, central agencies, and local authorities to complete the preliminary feasibility study report for submission.

5. The Prime Minister shall decide on the investment policy, including objectives, scale, total investment amount, funding structure, location, time, progress of implementation, and planned capital allocation schedule.

Article 24. Procedures and formalities for deciding on investment policy for Group A projects under the authority of the Provincial People's Council

1. The Chairman of the provincial People's Committee shall be responsible for:

a) Assigning specialized agencies or the People's Committee of districts to organize the preparation of a preliminary feasibility study report;

b) Establishing a review Council chaired by the Chairman or a Vice-Chairman of the provincial People's Committee, with the provincial specialized agency managing public investment as the permanent body of the review Council and other related agencies as members to review the preliminary feasibility study report, funding sources, and the ability to balance funds;

c) Directing the agencies specified in point a of this clause to complete the preliminary feasibility study report according to the review opinions.

2. The provincial People's Committee shall submit to the same-level People's Council for decision on the investment policy, including objectives, scale, total investment amount, funding structure, location, time, progress of implementation, and planned capital allocation schedule.

Article 25. Procedure and process for deciding on investment policy for programs and projects using ODA funds and preferential loans from foreign sponsors

1. Ministries, central agencies, and localities shall prepare proposals for programs and projects using ODA loans and foreign preferential loans and submit them to the Ministry of Planning and Investment, the Ministry of Finance, and relevant agencies as prescribed by law.

2. The Ministry of Finance shall take the lead in determining preferential components, assessing the impact of ODA loans and foreign preferential loans on public debt safety indicators, and establishing domestic financial mechanisms in accordance with the Public Debt Management Law.

3. The Ministry of Planning and Investment shall compile opinions from ministries, central agencies, and related localities, assess the necessity of the program or project, conduct a preliminary feasibility and economic-social effectiveness assessment, and a preliminary environmental impact assessment (if applicable), and assess the impact of the program or project on the medium-term state investment plan. It shall select suitable program and project proposals to submit to the Prime Minister for consideration and decision.

4. The Prime Minister shall consider and approve the program and project proposals.

5. For national target programs and important national projects, the procedure and process for deciding on investment policies shall be carried out in accordance with Articles 19, 20, and 21 of this Law.

6. For programs within the authority to decide on investment policies of the Government, the procedure and process for deciding on investment policies shall be carried out in accordance with Article 22 of this Law.

7. For Class A projects, the procedure and process for deciding on investment policies shall be carried out in accordance with Article 23 of this Law.

a) The managing agency shall submit a report proposing the investment policy to the Ministry of Planning and Investment.

b) The Ministry of Planning and Investment shall take the lead in reviewing the report proposing the investment policy, sources of funding, and funding balance capacity, and submit it to the Prime Minister.

c) The Prime Minister shall consider and decide on the investment policy.

9. For programs and projects not within the authority to decide on investment policies of agencies, organizations, or individuals as stipulated in Clauses 1, 2, 3, and 4 Article 17 of this Law, the procedure and process for deciding on investment policies shall be as follows:

a) The managing agency shall seek opinions from the Ministry of Planning and Investment, the Ministry of Finance, and relevant agencies regarding the report proposing the investment policy.

b) Based on the opinions of these agencies, the managing agency shall organize a review and decide on the investment policy.

10. Programs and projects using non-reimbursable ODA aid that is not tied to a loan do not need to prepare a project proposal.

Article 26. Procedure and process for deciding on investment policies for Class B and Class C projects using state investment capital managed by Ministries and central agencies

1. The head of the Ministry or central agency shall be responsible for:

a) Assigning subordinate units to organize the preparation of reports proposing the investment policy;

b) Establishing a Review Board or assigning a unit with the appropriate functions to review the report proposing the investment policy, sources of funding, and funding balance capacity;

c) Directing the unit specified in Point a of this Clause to complete the report proposing the investment policy according to the review comments.

2. Based on the review comments stipulated in Clause 1 of this Article, the head of the Ministry or central agency shall decide on the investment policy, including objectives, scale, total investment amount, source structure, location, time frame, implementation schedule, and planned capital allocation.

Article 27. Procedures and formalities for deciding on investment policies for programs and projects in Groups B and C using public investment funds managed by local authorities

1. The Chairpersons of People's Committees at all levels shall be responsible for:

a) Assigning specialized agencies or lower-level People's Committees to directly prepare reports proposing investment policies;

b) Establishing a Review Board or assigning units with relevant functions to review the reports proposing investment policies, and to assess the sources of funding and the ability to balance funds for programs and projects using public investment funds under their management;

c) Directing the agencies specified in point a of this clause to complete the reports proposing investment policies according to the review opinions.

2. The People's Committee shall submit to the People's Council at the same level for a decision on the investment policy, including objectives, scope, scale, total investment capital, capital structure, location, time, progress, planned allocation of capital, mechanisms and solutions, and implementation policies.

Article 28. Principles, authority, procedures, and formalities for deciding on investment policies for public investment projects abroad and public-private partnership investment projects

1. Principles, authority, procedures, and formalities for deciding on investment policies for public investment projects in Groups A, B, and C abroad shall be implemented in accordance with the Government's regulations.

2. Principles, authority, procedures, and formalities for deciding on investment policies for public-private partnership investment projects shall be implemented in accordance with the laws on public-private partnership investment.

Article 29. Contents of Reports Proposing Investment Policies for Public Investment Programs

The main contents of reports proposing investment policies for public investment programs include:

1. The necessity of the program to implement strategic goals, socio-economic development plans, and related planning as prescribed by the law on planning;

2. Objectives, scope, and scale of the program;

3. Estimated total capital and resource structure for implementing the program, including the project list, the ability to balance public investment funds, mobilizing other sources of capital and resources;

4. Estimated plan for allocating capital and implementing the program in line with actual conditions and the ability to mobilize resources in a reasonable priority order, ensuring focused and effective investment;

5. Determination of related costs during the implementation process and operational costs after the program ends;

6. Preliminary analysis and assessment of environmental and social impacts of the program, calculating economic and social investment effectiveness of the program;

7. Division of component projects of the program in accordance with the law;

8. Implementation organization solutions.

Article 30. Contents of Feasibility Study Reports for National Key Projects and Group A Projects

1. The contents of feasibility study reports for national key projects and Group A projects with construction components shall be carried out in accordance with the law on construction.

2. The main contents of feasibility study reports for national key projects and Group A projects without construction components include:

a) The necessity of investment, conditions for implementing investment, and evaluation of suitability with related planning as prescribed by the law on planning and investment plans;

b) Forecasted demand, service range, and estimated investment objectives, scale, and investment forms;

c) Investment area, location, estimated land use requirements, and other resource needs;

d) Preliminary analysis and selection of technology, techniques, and conditions for supplying materials, equipment, raw materials, energy, services, infrastructure;

đ) Preliminary analysis and selection of investment options and scales of individual investment items;

e) Overall compensation, land clearance, resettlement, and environmental protection measures;

h) Preliminary determination of total investment amount, capital mobilization plans, and capital structure;

i) Preliminary determination of operational, maintenance, repair, and major overhaul costs during the project operation phase;

k) Estimated capital allocation plan, project implementation schedule, and division of investment phases;

l) Preliminary determination of economic and social investment effectiveness of the project;

m) Division of component projects or sub-projects (if any);

n) Implementation organization solutions.

Article 31. Contents of the Report Proposing Investment Policy for Group B and Group C Projects

The main contents of the report proposing investment policy for Group B and Group C projects include:

1. The necessity of investment, conditions for implementation, and assessment of compliance with relevant planning regulations under the law on planning and investment plans;

2. Objectives, scale, location, and scope of investment;

3. Estimated total investment cost and capital structure, ability to balance public investment funds and mobilization of other sources of capital to implement the project;

4. Estimated progress schedule for implementing the investment, proposed plan for allocating funds consistent with actual conditions and the ability to mobilize resources in a reasonable priority order, ensuring focused and effective investment;

5. Preliminary determination of related costs during implementation and operational costs after completion;

7. Division of component projects (if any);

8. Implementation organization solutions.

Article 32. Documents, Contents, and Timeframe for Reviewing and Deciding on Investment Policy for Programs and Projects

Documents, contents, and timeframe for reviewing and deciding on investment policy for programs and projects shall be carried out according to the provisions of the Government.

Article 33. Levels of Authority for Reviewing Capital Sources and Ability to Balance Capital for Programs and Projects

1. Reviewing capital sources and the ability to balance capital is part of the review of investment policy.

2. The Ministry of Planning and Investment shall lead the review of capital sources and the ability to balance capital for the following programs and projects:

a) National Target Programs;

b) National key projects;

c) Public investment programs decided on by the Government;

d) Public investment programs and projects decided on by the Prime Minister.

3. Heads of Ministries and central agencies shall assign specialized agencies managing public investment to lead, coordinate with relevant agencies to review capital sources and the ability to balance capital for projects using public investment funds under their management within the total medium-term public investment capital announced by the Prime Minister for the subsequent period and the total medium-term public investment capital decided by the National Assembly for Ministries and central agencies in the ongoing medium-term period, except for projects specified in Clause 2 of this Article.

4. Chairpersons at all levels of People's Committees shall assign specialized agencies managing public investment to lead, coordinate with relevant agencies to review capital sources and the ability to balance capital for programs and projects using public investment funds under their management within the total medium-term public investment capital announced by the Prime Minister or competent authority for the subsequent period, the total medium-term public investment capital decided by the National Assembly and People's Councils at various levels for localities and the actual surplus revenue of the local budget (if any) allocated for development investment, except for projects specified in Clause 2 of this Article.

Article 34. Adjustment of Investment Policy

1. The authority that decides on the investment policy for programs and projects has the authority to decide on the adjustment of the investment policy for those programs and projects and is responsible for its decision.

2. The procedures and formalities for deciding on the adjustment of investment policy are stipulated as follows:

a) For public investment programs, they shall be implemented according to Articles 19, 20, 21, 22, 25, and 27 of this Law;

b) For national key projects, they shall be implemented according to Articles 19, 20, 21, and 25 of this Law;

c) For Group A projects, they shall be implemented according to Articles 23, 24, and 25 of this Law;

d) For Group B and Group C projects, they shall be implemented according to Articles 25, 26, and 27 of this Law.

3. Documents submitted to the competent authority for deciding on the adjustment of investment policy for programs and projects shall be carried out according to the provisions of the Government.

Section 2

INVESTMENT PROPOSAL, REVIEW, AND DECISION MAKING

CHAPTER INVESTMENT PROGRAMS AND PROJECTS

Article 35. Authority to Decide on Investment Programs and Projects

1. The Prime Minister decides on investment for the following programs and projects:

a) National Target Programs and Important National Projects that have been decided on by the National Assembly regarding the investment policy;

b) Public Investment Programs that have been decided on by the Government regarding the investment policy;

c) Programs and projects using ODA and preferential loans from foreign sponsors in the fields of national defense, security, religion, and other programs and projects as prescribed by the Government.

2. Heads of Ministries and central agencies with the following authority:

a) Decide on investment for Group A, Group B, and Group C projects using public investment funds under their management, except for projects specified in point c, Clause 1 of this Article;

b) Are authorized to delegate or authorize subordinate agencies to decide on investment for Group B and Group C projects as specified in point a of this Clause.

3. Chairpersons of Provincial People's Councils decide on investment for the following programs and projects:

a) Public Investment Programs that have been decided on by the Provincial People's Council regarding the investment policy;

b) Group A, Group B, and Group C projects managed at the provincial level, except for projects specified in point c, Clause 1 of this Article.

4. Chairpersons of District and Commune People's Councils decide on investment for the following programs and projects:

a) Public Investment Programs that have been decided on by the same-level People's Council regarding the investment policy;

b) Group B and Group C projects managed at their own level, except for projects specified in point c, Clause 1 of this Article.

5. In cases where investment decisions for programs and projects are adjusted, the authority to decide on investment for programs and projects shall be carried out according to the provisions of Clause 3, Article 43 of this Law.

6. The Government stipulates the delegation of authority, procedures, and processes for deciding on investment for programs and projects using lawful revenues of state agencies and public service units designated for investment, consistent with regulations on financial autonomy of these agencies and units.

7. Heads of Ministries, central agencies, and localities who decide on investment for programs and projects are responsible for the effectiveness of approved programs and projects.

Article 36. Basis for Establishing, Reviewing, and Deciding on Investment for Programs and Projects

1. Strategies and plans for socio-economic development.

2. Relevant planning as prescribed by laws on planning.

3. The necessity of the program or project.

4. Objectives of the program or project.

5. Investment policies already decided upon by competent authorities.

6. Ability to mobilize and balance public investment funds and other sources of funding to implement the program or project.

Article 37. Procedures for Establishing, Reviewing, and Deciding on Investment for National Target Programs

1. Based on the investment policy decided upon by the National Assembly, the program leader prepares a feasibility study report on the program.

2. The Prime Minister establishes a State Review Board chaired by the Minister of Planning and Investment to review the program.

3. The State Review Board reviews the contents prescribed in Clause 1, Article 44 and Clause 2, Article 45 of this Law.

4. Based on the State Review Board's review opinions, the program leader completes the feasibility study report on the program and drafts the investment decision on the program to submit to the State Review Board for the Prime Minister's consideration and decision.

Article 38. Procedures for establishing, reviewing, and deciding on investment programs for public investment projects decided by the Government on investment policies

1. Based on the investment policy decision made by the Government, the program sponsor shall prepare a feasibility study report on the program and organize a review in accordance with the provisions of the law to submit to the Prime Minister.

2. The Ministry of Planning and Investment shall organize the review of the contents stipulated in Clause 1 of Article 44 and Clause 2 of Article 45 of this Law.

3. Based on the review opinions of the Ministry of Planning and Investment, the program sponsor shall complete the feasibility study report on the program and draft the investment decision on the program to submit to the Ministry of Planning and Investment for submission to the Prime Minister for consideration and decision.

Article 39. Procedures for establishing, reviewing, and deciding on investment programs for public investment projects decided by the People's Council on investment policies

1. Based on the investment policy decision made by the People's Council, the program sponsor shall prepare a feasibility study report on the program and organize a review in accordance with the provisions of the law to submit to the People's Committee at the same level.

2. The People's Committee shall organize the review of the contents stipulated in Clause 1 of Article 44 and Clause 2 of Article 45 of this Law.

3. Based on the review opinions of the People's Committee, the program sponsor shall complete the feasibility study report on the program and draft the investment decision on the program to submit to the Chairman of the People's Committee for consideration and decision.

Article 40. Procedures for establishing, reviewing, and deciding on investment projects

1. The procedures for establishing, reviewing, and deciding on investment projects of national importance are regulated as follows:

a) Based on the investment policy decision made by the National Assembly, the investor shall prepare a feasibility study report on the project to be submitted to the competent authority for examination and submission to the Prime Minister;

b) The Ministry of Planning and Investment shall report to the Prime Minister to establish a State Review Board to review the project;

c) The State Review Board shall review the contents stipulated in Clause 2 and Clause 3 of Article 44 and Clause 2 of Article 45 of this Law;

d) Based on the review opinions, the investor shall complete the feasibility study report on the project to be submitted to the competent authority for approval and submit it to the State Review Board;

đ) The State Review Board shall submit to the Prime Minister for consideration and decision on the investment in the project.

2. The procedures for establishing, reviewing, and deciding on investment projects not falling under the cases stipulated in Clause 1 of this Article and without construction components are regulated as follows:

a) Based on the investment policy decision made by the competent authority, the investor shall prepare a feasibility study report on the project to be submitted to the competent authority for investment decision;

b) The head of the Ministry, central agency, or Chairman of the People's Committee at all levels shall establish a Review Board or entrust the specialized agency managing public investment to organize the review of the project;

c) The Review Board or the specialized agency managing public investment shall review the contents stipulated in Clause 2 of Article 44 and Clause 2 of Article 45 of this Law;

d) Based on the review opinions, the investor shall complete the feasibility study report on the project for the competent authority to consider and decide on the investment.

3. The procedures for establishing, reviewing, and deciding on investment projects with construction components shall be carried out in accordance with the laws on construction and other relevant laws, except for national key projects.

5. The procedures for establishing, reviewing, and approving budgets for investment preparation tasks and planning tasks are regulated as follows:

a) Based on the investment preparation tasks and planning tasks decided by the competent authority, the agency or organization assigned the investment preparation tasks and planning tasks shall prepare the budget for investment preparation tasks and planning tasks to be submitted to the head of the Ministry, central agency, or Chairman of the People's Committee at all levels for decision;

b) The head of the Ministry, central agency, or Chairman of the People's Committee at all levels shall establish a Review Board or entrust the specialized agency managing public investment to organize the review of the budget for investment preparation tasks and planning tasks;

c) The Review Board or the specialized agency managing public investment shall review the budget contents in accordance with the provisions of the law on standards and norms for investment preparation task and planning task budgets;

d) Based on the review opinions, the investor shall complete the budget for investment preparation tasks and planning tasks for the head of the Ministry, central agency, or Chairman of the People's Committee at all levels to approve the budget.

6. Principles, authorities, contents, procedures, and processes for establishing, reviewing, and deciding on investment in public investment projects abroad shall be carried out in accordance with the regulations of the Government.

Article 41. Procedures for establishing, reviewing, and deciding on investment programs and projects using ODA funds and preferential loans from foreign sponsors

1. After issuing the investment policy decision, the managing agency shall issue a decision on the investor, assigning the investor to cooperate with the sponsor to prepare a feasibility study report on the program or project to be submitted to the competent authority for investment decision.

2. For programs and projects under the Prime Minister's decision-making authority as stipulated in point c, Clause 1, Article 35 of this Law;

a) The procedures for establishing, reviewing, and deciding on investment for national target programs and important national projects shall be carried out according to the provisions of Article 37 and Clause 1, Article 40 of this Law;

b) The Ministry of Planning and Investment shall review the feasibility study reports of other programs and projects, submit them to the Prime Minister for consideration and decision.

3. The head of the managing agency shall be responsible for organizing the review and investment decision for programs and projects within their decision-making authority.

4. For programs and projects using ODA funds and preferential loans from foreign sponsors applying domestic financial mechanisms in the form of loan refinancing, the establishment and review of programs and projects shall comply with the provisions of this Law and must include a financial plan review of the program or project and the financial capacity of the investor in accordance with the laws on public debt management and other relevant laws.

5. The agency or unit primarily responsible for the review must seek opinions from related agencies, consider the procedures, processes, progress, and opinions of the sponsor.

Article 42. Procedures for making investment decisions for urgent public investment projects

1. The heads of Ministries, central agencies, and Chairpersons of People's Committees at all levels with the authority to decide and bear responsibility for implementing urgent public investment projects under their management.

2. The heads of Ministries, central agencies, and Chairpersons of People's Committees at all levels shall make investment decisions according to the following procedures:

a) Assign specialized agencies or units with relevant functions to conduct surveys and prepare project proposal reports;

b) Assign specialized agencies managing public investment or units with relevant functions to review the project;

c) Direct the agencies or units specified in point a of this clause to complete the project proposal report for submission to the competent authority for consideration and decision in accordance with Article 35 of this Law.

3. The heads of Ministries and central agencies shall report to the Government on the implementation of urgent public investment projects. The Chairpersons of People's Committees shall report to the People's Councils at the same level on the implementation of urgent public investment projects at the nearest session.

Article 43. Adjusting Programs and Projects

1. Program adjustments shall be made in the following cases:

a) When adjusting objectives and changing conditions for implementation in strategies, socio-economic development plans, and related planning as prescribed by the laws on planning;

b) When adjusting or stopping the investment policy decision of the competent authority;

c) Due to force majeure causing changes in objectives, scale of investment, costs, and implementation time of the program.

2. Project adjustments shall be made in the following cases:

a) When adjusting or stopping the investment policy decision of the competent authority;

b) When adjusting the planning directly affecting the project;

c) Due to force majeure causing changes in objectives, scale of investment, costs, and implementation time of the project;

d) Due to the impact of natural disasters, fires, or other force majeure factors after the project's insurance period has expired;

đ) The appearance of factors providing higher financial and socio-economic benefits due to project adjustment and approved by the competent authority;

e) When the price index during the project implementation period exceeds the price index used to calculate the cost overrun reserve in the total project investment amount decided by the competent authority.

3. The authority deciding on the investment program or project shall have the authority to adjust that program or project and bear responsibility for its decision.

4. The competent authority may only adjust the program or project after it has been reviewed, inspected, and evaluated in accordance with the provisions of this Law.

5. In cases where the adjustment increases the total project investment amount beyond the total investment amount decided by the competent authority for the investment policy decision, the project must follow the procedures and formalities for deciding on the adjustment of the investment policy before the competent authority decides on the project adjustment.

6. The content, procedures, and formalities for establishing and reviewing program and project adjustments shall be implemented in accordance with the regulations of the Government.

Article 44. Contents of the Feasibility Study Report on Programs and Projects

1. The feasibility study report on public investment programs shall include the following main contents:

a) The necessity for investment;

b) Evaluation of the current status of the industry or sector within the program's objectives and scope; urgent issues that need to be addressed in the program;

c) General objectives, specific objectives, results, and key indicators in each phase;

d) Scope and scale of the program;

đ) Component projects under the program that need to be implemented to achieve the program's objectives, priority order and implementation timeframes for component projects;

e) Estimated total capital required to implement the program, allocation of capital according to objectives, component projects, and implementation periods, sources of capital and methods of raising capital;

g) Estimated timeframe and progress schedule for implementing the program;

h) Solutions to implement the program; mechanisms and policies applicable to the program; potential for integration and coordination with other programs;

i) Requirements for international cooperation (if any);

k) Organization for implementing the program;

l) Evaluation of the overall economic and social effectiveness of the program.

2. The feasibility study report on projects without construction components shall include the following main contents:

a) The necessity for investment;

b) Evaluation of compliance with relevant planning regulations as stipulated by laws on planning;

c) Analysis and determination of project objectives, tasks, and outputs; analysis and selection of appropriate scale; determination of phased investment; selection of investment form;

d) Analysis of natural conditions, economic and technical conditions, and selection of investment location;

đ) Management organization plan, operation, and utilization of the project;

e) Environmental impact assessment and environmental protection measures;

g) Overall compensation, land clearance, and resettlement plan;

h) Estimated project implementation schedule; key investment implementation milestones;

i) Determination of total investment amount, capital structure, and capital-raising plans;

k) Determination of operational, maintenance, repair, and major overhaul costs during the project operation phase;

l) Project management organization, including identification of the investor, analysis and selection of project management implementation forms, relationships and responsibilities of related subjects during the project implementation process, management organization for project operation;

m) Investment effectiveness analysis, including economic and social impacts, national defense and security; ability to recover investment (if any).

3. The contents of the feasibility study report on projects with construction components shall be carried out in accordance with laws on construction and other relevant laws.

Article 45. Documents, Contents, Timeframe for Reviewing and Deciding on Programs and Projects

1. Documents for reviewing programs and projects include:

a) Request for review of programs and projects;

b) Feasibility study report on programs and projects;

c) Other related documents.

2. Documents for deciding on programs and projects, contents, and timeframe for reviewing and deciding on programs and projects shall be carried out in accordance with Government regulations.

Chapter III

PREPARATION, REVIEW, APPROVAL

AND ALLOCATION OF PUBLIC INVESTMENT PLANS

Section 1

GENERAL PROVISIONS

Article 46. Classification of Public Investment Plans

1. Classification of public investment plans based on the planning period includes:

a) Medium-term public investment plan established over a five-year period, consistent with the five-year socio-economic development plan;

b) Annual public investment plan to implement the medium-term public investment plan, consistent with the annual socio-economic development goals and annual public investment budget balance.

2. Classification of public investment plans based on management level includes:

a) National public investment plan;

b) Public investment plan of ministries and central agencies;

c) Public investment plan of local levels of government.

3. Classification of public investment plans based on sources of investment capital includes:

a) Central government budget investment plan, including investment by sector, field, public investment program, state capital participating in implementing projects under the public-private partnership method as stipulated by laws on the state budget;

b) Local government budget investment plan, including investment by sector, field, public investment program, state capital participating in implementing projects under the public-private partnership method as stipulated by laws on the state budget;

c) Investment plan from legitimate revenue sources of state agencies and public service units designated for investment.

Article 47. Basis for compiling medium-term and annual public investment plans

1. The basis for compiling medium-term public investment plans includes:

a) The situation and results of implementing the five-year socio-economic development plan and the medium-term public investment plan of the previous phase;

b) Socio-economic development strategies; five-year national, sectoral, and local socio-economic development plans; five-year financial plans; five-year borrowing and repayment plans; priority investment targets in the national, sectoral, and local five-year plans;

c) Relevant master plans as prescribed by laws on master planning;

d) Needs and forecasts of the ability to mobilize investment capital for building economic and social infrastructure, and the ability to balance state budget funds;

đ) Forecasts of the impact of global and domestic situations on development and the ability to mobilize investment capital;

e) Mechanisms and policies to attract investment capital from various economic sectors for building economic and social infrastructure.

2. The basis for compiling annual public investment plans includes:

a) The situation and results of implementing the national, sectoral, and local socio-economic development plans; the results of implementing the previous year's public investment plan;

b) Annual socio-economic development plans;

c) Medium-term public investment plans;

d) Needs and the ability to balance resources for investing in economic and social infrastructure during the planned year.

Article 48. Principles for Compiling Medium-Term and Annual Public Investment Plans

1. Consistency with development goals set out in socio-economic development strategies, five-year and annual national, sectoral, and local socio-economic development plans, approved master plans, five-year financial plans, and five-year borrowing and repayment plans.

2. Consistency with the ability to balance public investment capital and attract investment capital from other economic sectors; ensuring macroeconomic balance and prioritizing public debt safety.

3. Allocation of public investment capital must comply with principles, criteria, and allocation standards for public investment capital in each phase as approved by competent authorities.

4. Prioritizing allocation of capital to sectors, fields, and regions according to development goals and orientations for each period.

5. Ensuring transparency and fairness.

6. Ensuring centralized and unified management regarding objectives, mechanisms, and policies; implementing decentralization in investment management to enhance investment efficiency while granting autonomy to ministries, central agencies, and localities as prescribed by law.

7. Annual public investment plans must be consistent with approved medium-term public investment plans.

Article 49. Content of Reports on Medium-Term Public Investment Plans Submitted for Approval by Competent Authorities

1. Implementation status and results of the previous phase's medium-term public investment plan.

2. Socio-economic development goals; investment structure goals and orientations by sector and field in the medium term. Sector and field classification is carried out in accordance with the State Budget Law.

3. Ability to mobilize and balance capital sources; projected total investment capital required to achieve socio-economic development goals, sectoral, and field tasks in the medium term, including capital for planning tasks, investment preparation tasks, project implementation, repayment of advance payments, and repayment of other loans from local budgets for investment purposes.

4. Total amount of medium-term public investment plan capital from the state budget, including central government budget capital and local government budget capital; detailed central government budget capital by sector and field, and projected allocation levels for each ministry and central agency, and additional targeted capital from the central government budget for local budgets in reports submitted to the National Assembly. Detailed capital amounts for each organization assigned medium-term public investment plan capital from local budgets, and additional targeted capital for lower-level budgets in reports submitted to People's Councils at all levels.

5. Principles and criteria for allocating medium-term public investment plan capital.

6. Priority ranking, selection of project portfolios, and specific capital allocations for each project in the medium term, consistent with the ability to balance public investment capital and the ability to mobilize other capital sources to achieve development goals, tasks, and orientations in the five-year socio-economic development plan.

7. Implementation measures and expected outcomes.

Article 50. Contents of the annual state investment plan report submitted to the competent authority for approval

1. The situation of implementing the previous year's state investment plan.

2. Orientation for state investment in the planned year.

3. Ability to mobilize and balance various sources of capital for implementation within the planned year.

4. Selection of project portfolios and specific allocation levels for each project in accordance with the medium-term investment plan project portfolio and the ability to balance annual budget funds.

5. Management solutions, organizational implementation, and anticipated results.

Article 51. Principles for allocating capital in the medium-term and annual state investment plans for programs and projects

1. To achieve the goals and development orientations set out in the strategy, socio-economic development plans, and approved planning schemes.

2. To comply with principles, criteria, and capital allocation standards decided by the competent authority.

4. Within each sector and field, capital allocation shall be carried out in the following priority order:

a) Projects that have been completed and handed over for use but have not yet received sufficient capital.

b) Counterpart capital for projects using ODA and preferential loans from foreign sponsors.

c) State investment capital participating in projects under public-private partnership models.

d) Continuing projects being implemented according to the approved schedule.

đ) Projects expected to be completed during the planning period.

e) New projects starting construction that meet the requirements stipulated in Clause 5 of this Article.

5. Capital allocation for new programs and projects must meet the following requirements:

a) Programs and projects that are necessary and have the conditions to be allocated capital according to Articles 52 and 53 of this Law.

b) After allocating capital to settle outstanding construction debts as prescribed in Clause 4 of Article 101 of this Law.

c) Ensuring sufficient capital to complete programs and projects according to the approved investment schedule.

6. The National Assembly decides the level of general reserve funds, their usage, and the timing of their use from the central government budget for the national medium-term state investment plan. People's Councils at all levels decide the level of general reserve funds, their usage, and the timing of their use from the budget they manage for the medium-term state investment plan.

Article 52. Conditions for programs, projects, tasks, and other public investment objects to be included in the medium-term state investment plan

Programs, projects, tasks, and other public investment objects to be included in the medium-term state investment plan must comply with legal provisions regarding the principles and criteria for public investment capital allocation and meet one of the following conditions:

1. Projects continuing from the previous medium-term investment plan phase.

2. Programs and projects that have been decided on investment orientation by the competent authority, and new projects must ensure that the time for allocating capital for implementation does not exceed six years for Group A projects, four years for Group B projects, and three years for Group C projects.

In cases where these deadlines are not met, the Prime Minister decides the time for allocating capital for projects funded by the central government budget, and the Provincial People's Council decides the time for allocating capital for projects funded by local budgets.

3. Tasks and projects specified in Clause 6 of Article 18 of this Law.

4. Objects specified in Clauses 4 and 6 of Article 5 of this Law.

Article 53. Conditions for programs, projects, tasks, and other public investment objects to be allocated capital in the annual state investment plan

1. Programs, projects, tasks, and other public investment objects must be included in the medium-term state investment plan, except for urgent public investment projects.

2. Programs, projects, tasks, and other public investment objects have been decided by competent authorities.

Article 54. Capital for project preparation, capital for implementing planning tasks, and capital for implementing projects in the medium-term and annual state investment plans

1. Project preparation capital is allocated for establishing, reviewing, and deciding on the investment direction of projects; establishing, reviewing, and deciding on investments in projects.

2. Capital for implementing planning tasks is allocated for establishing, reviewing, deciding, approving, announcing, and adjusting plans according to the laws on planning.

3. Project implementation capital is allocated for land clearance, technical design establishment, construction drawing design establishment, project budget establishment or project component budget establishment, organizing construction, and other works according to the approved project decision.

Article 55. Procedures for establishing and reviewing the medium-term state investment plan

1. Before June 30 of the fourth year of the previous medium-term state investment plan period, the Ministry of Planning and Investment builds and submits to the Prime Minister for approval the orientation and criteria for allocating medium-term public investment capital for ministries, central agencies, and localities.

2. Before July 31 of the fourth year of the previous medium-term state investment plan period, the Prime Minister issues a directive on the establishment of the subsequent medium-term state investment plan with the total planned public investment capital equal to the total planned public investment capital of the previous medium-term state investment plan period, announcing the planned public investment capital of ministries, central agencies, and localities as the basis for deciding on the investment direction of programs and projects in the subsequent period.

3. Before August 15 of the fourth year of the previous medium-term state investment plan period, the Ministry of Planning and Investment guides ministries, central agencies, and localities on the objectives, requirements, contents, timeframes, and progress of establishing the medium-term state investment plan.

4. Based on the provisions of the Prime Minister and the guidance of the Ministry of Planning and Investment, ministries and central agencies are responsible for:

a) Assigning specialized agencies managing public investment to guide the establishment of the medium-term state investment plan;

b) Assigning subordinate agencies using public investment capital to establish the subsequent medium-term state investment plan within their assigned tasks, reporting to higher-level agencies for review according to the regulations of the Prime Minister and the guidance of the Ministry of Planning and Investment;

c) Assigning specialized agencies managing public investment to organize the review of the subsequent medium-term state investment plan according to the regulations of the Prime Minister and the guidance of the Ministry of Planning and Investment;

the Prime Minister and the guidance of the Ministry of Planning and Investment; d) Assigning specialized agencies managing public investment to establish the subsequent medium-term state investment plan for submission to competent authorities for review, completion, and sending to the Ministry of Planning and Investment and the Ministry of Finance according to the regulations of

 the Prime Minister and the guidance of the Ministry of Planning and Investment.

5. Based on the provisions of

a) Guiding local agencies to establish the subsequent medium-term state investment plan;

b) Assigning agencies using public investment capital to organize the establishment and review of the subsequent medium-term state investment plan within their assigned tasks and managed funds, reporting to higher-level agencies for review and sending to provincial specialized agencies managing public investment;

c) Organizing the review or assigning provincial specialized agencies managing public investment to review the medium-term state investment plan of provincial departments and sectors;

d) Assigning provincial specialized agencies managing public investment to establish the subsequent provincial medium-term state investment plan for submission to the Provincial People's Council for review;

đ) Submitting the subsequent medium-term state investment plan to the Provincial People's Council for comments;

e) Completing the subsequent medium-term state investment plan and sending it to the Ministry of Planning and Investment and the Ministry of Finance.

6. The People's Committee at the district and commune levels organizes the establishment and review or assigns specialized agencies managing public investment to establish and review the subsequent medium-term state investment plan of their level, submitting it to the People's Council at the same level for comments and sending it to the higher-level People's Committee according to point a, Clause 5 of this Article.

7. Before January 31 of the fifth year of the previous medium-term state investment plan period, the Government forecasts the ability to balance the state budget for development investment in the subsequent period.

8. From February 1 to April 30 of the fifth year of the previous medium-term state investment plan period, the Ministry of Planning and Investment leads the review of the plan and the allocation scheme of the medium-term state investment plan capital from the central budget for ministries, central agencies, and localities.

9. After receiving the review opinion of the Ministry of Planning and Investment, ministries and central agencies complete the subsequent medium-term state investment plan and send it to the Ministry of Planning and Investment and the Ministry of Finance before June 30 of the fifth year of the previous medium-term state investment plan period.

10. After receiving the review opinion of the Ministry of Planning and Investment, the People's Committee at the provincial level is responsible for:

a) Assigning the People's Committee at the district and commune levels to complete the medium-term state investment plan of their level, reporting to the People's Council at the same level for comments and sending it to the provincial People's Committee before May 31 of the fifth year of the previous medium-term state investment plan period;

b) Assigning provincial specialized agencies managing public investment to complete the medium-term state investment plan of their level, reporting to the provincial People's Committee for submission to the People's Council at the same level for comments before June 15 of the fifth year of the previous medium-term state investment plan period;

c) Completing the subsequent medium-term state investment plan and sending it to the Ministry of Planning and Investment and the Ministry of Finance before June 30 of the fifth year of the previous medium-term state investment plan period.

Article 56. Procedures for drafting and reviewing annual public investment plans

1. Before May 15 each year, the Prime Minister shall issue regulations on the drafting of economic and social development plans and state budget estimates for the following year, including objectives, main directions, and assignments to implement the drafting of the following year's public investment plan.

2. Before June 15 each year, the Ministry of Planning and Investment shall guide ministries, central agencies, and localities on the economic and social development plans and the goals, requirements, contents, timeframes, and progress of drafting the following year's public investment plan.

3. Before June 30 each year, ministries, central agencies, and localities shall guide subordinate agencies and units in drafting the following year's public investment plan.

4. Before July 20 each year, specialized agencies managing public investment shall organize the drafting, review, and consolidation of the following year's public investment plan within their assigned tasks and managed capital sources, and report to the People's Councils at the same level.

5. Before July 25 each year, the People's Councils shall report to the People's Assemblies at the same level for approval of the draft public investment plan for the following year.

6. Before July 31 each year, ministries, central agencies, and localities shall finalize the draft public investment plan for the following year, and submit it to the Ministry of Planning and Investment and the Ministry of Finance.

7. Before August 15 each year, the Ministry of Finance, in collaboration with the Ministry of Planning and Investment, shall forecast the revenue and expenditure of the state budget and the development investment expenditures from the state budget for the following year's plan. The Ministry of Planning and Investment shall announce the estimated allocation of central government development investment funds to ministries, central agencies, and localities for the following year's plan.

8. Before August 25 each year, ministries, central agencies, and localities shall complete the draft public investment plan for the following year, and submit it to the Ministry of Planning and Investment and the Ministry of Finance.

9. Before August 31 each year, the Ministry of Planning and Investment shall consolidate the national public investment plan for the following year and report it to the Government.

Section 2

PREPARATION, REVIEW, APPROVAL

AND ALLOCATION OF PUBLIC INVESTMENT PLANS

Article 57. Principles for selecting project portfolios and estimating funding allocations for individual projects in medium-term and annual public investment plans funded by the state budget

1. In accordance with Articles 51, 52, 53, and 54 of this Law.

2. Consistent with the ability to balance state budget funds in medium-term and annual public investment plans, and the anticipated ability to mobilize other investment funds for projects utilizing multiple sources of investment.

3. Included in the approved programs and tasks of state budget development investment expenditures.

4. Consistent with the principles, criteria, and allocation standards for state budget development investment funds during the planning period.

5. The funding allocation for each program or project shall not exceed the total approved funding for that program or project.

Article 58. Principles for selecting project portfolios and estimating funding allocations for individual projects in medium-term and annual public investment plans funded by local state budgets

1. In accordance with the provisions of Articles 51, 52, 53, and 54, Clause 4 and Clause 5 of Article 57 of this Law.

2. Consistent with the ability to balance local state budget revenues and expenditures, medium-term and annual public investment plans, and the ability to mobilize other investment funds for projects utilizing multiple sources of investment.

3. Included in the approved programs and tasks of local state budget development investment expenditures.

Article 59. Establishment, Review, Approval, and Allocation of Medium-Term and Annual Capital Plans from Legal Revenue for Investment by State Agencies and Publicly Funded Institutions

1. State agencies and publicly funded institutions using capital from legal revenue for investment must establish medium-term and annual investment plans to submit to ministries, central agencies, and local People's Committees directly managing them.

2. Ministries, central agencies, and local People's Committees have the responsibility to review, approve, and allocate annual capital plans, and to approve adjustments to annual capital plans from legal revenue of state agencies and publicly funded institutions for investment in accordance with actual capabilities for development as stipulated by relevant laws.

3. The medium-term and annual investment plans for capital from legal revenue of state agencies and publicly funded institutions for investment do not fall under the medium-term and annual public investment plans from state budget funds.

4. Ministries, central agencies, and provincial People's Committees are responsible for compiling medium-term and annual capital plans from legal revenue of state agencies and publicly funded institutions for investment and submitting them to the Ministry of Planning and Investment and the Ministry of Finance for consolidation and reporting to the Government and the National Assembly.

5. The Government shall provide detailed regulations on this matter.

Article 60. Presentation, Approval, and Allocation of Medium-Term Public Investment Plans from the State Budget

1. At the final session of the fifth year of the National Assembly term, the Government presents to the National Assembly the medium-term public investment plan for the subsequent phase so that the National Assembly can provide opinions on the contents as specified in Article 49 of this Law; specifically, for the first year of the subsequent phase, based on the state budget estimate for development expenditure of the first year, the Government shall present to the National Assembly for consideration and decision at this session.

2. Based on the opinions of the previous National Assembly, the Government shall present to the new National Assembly at its first session the contents as specified in Article 49 of this Law. The National Assembly shall consider and decide on the medium-term public investment plan including the following contents:

a) The objectives and directions of medium-term state budget public investment nationwide;

b) The total amount of medium-term public investment plan funds from the state budget, including central government budget funds and local government budget funds;

c) The detailed total amount of medium-term public investment plan funds from the central government budget allocated by sector and field, and the anticipated allocation levels for each ministry and central agency, and the supplementary targeted funds from the central government budget for local budgets;

d) The list and funding amounts for national key projects and national target programs;

e) Main solutions and policies to implement the medium-term public investment plan.

3. The Prime Minister allocates the medium-term public investment plan, including the total amount and structure of state budget funds to ministries, central agencies, and localities; the list and funding amounts for public investment programs and projects, funding levels for planning tasks, preparatory investment tasks, and other public investment objects from the central government budget.

Article 61. Presentation, Approval, and Allocation of Annual Public Investment Plans from the State Budget

1. Before September 20th each year, the Government shall present to the Standing Committee of the National Assembly for comments on the annual public investment plan from the state budget.

2. Before October 20th each year, the Government shall present to the National Assembly the annual public investment plan from the state budget for the following year.

3. Before November 15th each year, the National Assembly decides on the annual public investment plan from the state budget for the following year.

4. Before November 30th each year, the Prime Minister allocates the annual public investment plan from the state budget for the following year according to the total amount and structure of funds already decided by the National Assembly to ministries, central agencies, and localities.

5. Before December 31st each year, ministries, central agencies, and localities detail the allocation of the annual central government budget investment plan funds for the following year, the list and funding amounts allocated for each project to subordinate agencies and units and lower-level People's Committees, and submit detailed allocation plans to the Ministry of Planning and Investment for consolidation and reporting to the Government and monitoring implementation.

Article 62. Submission, Approval, and Allocation of Medium-Term Public Investment Plans Funded by Local Budgets

1. Before December 5 of the fifth year of the previous medium-term public investment plan period, the People's Committee shall submit to the People's Council at the same level for comments on the contents stipulated in Article 49 of this Law; specifically, for the first year of the subsequent phase, based on the local budget estimate for development investment, the People's Committee shall submit to the People's Council at the same level for consideration and decision.

2. Based on the resolution of the National Assembly regarding the new medium-term public investment plan and the resolution of the provincial People's Council on the five-year socio-economic development plan, the provincial People's Council decides on the medium-term public investment plan of the locality, including the total amount of capital in the medium-term public investment plan, the list, the amount of capital allocated to each project using provincial budget funds, and the additional targeted capital for lower-level budgets, and reports to the Ministry of Planning and Investment and the Ministry of Finance for consolidation and reporting to the Government.

3. Based on the resolution of the provincial People's Council on the medium-term public investment plan, the district People's Council decides on its own medium-term public investment plan, including the total amount of capital in the medium-term public investment plan, the list, and the amount of local budget capital allocated to each project and the additional targeted capital for lower-level budgets.

4. Based on the resolution of the district People's Council on the medium-term public investment plan, the commune People's Council decides on its own medium-term public investment plan, including the total amount of capital in the medium-term public investment plan, the list, and the amount of local budget capital allocated to each project.

5. Within thirty days from the date the People's Councils at all levels issue resolutions on the medium-term public investment plan, the People's Committees at the same level allocate the medium-term public investment plan to implementing units, including the total amount of capital, program and project lists, and the amount of capital allocated to each project.

Article 63. Submission, Approval, and Allocation of Annual Public Investment Plans Funded by Local Budgets

1. Before December 5 each year, the People's Committee shall submit to the People's Council at the same level the annual public investment plan for the following year, including the list and the amount of capital allocated to each project.

2. Before December 10 each year, the provincial People's Council decides on the annual public investment plan for the following year of its own level, including the list and the amount of capital allocated to each project.

3. Before December 20 each year, the district and commune People's Councils decide on the annual public investment plan for the following year of their own level, including the list and the amount of capital allocated to each project.

4. Before December 31 each year, the People's Committees at all levels allocate the annual public investment plan for the following year to implementing units.

Chapter IV

IMPLEMENTATION AND MONITORING, INSPECTION, EVALUATION, AUDIT,

SUPERVISION OF PLANS, PROGRAMS, AND PUBLIC INVESTMENT PROJECTS

Section 1

IMPLEMENTATION OF PUBLIC INVESTMENT PLANS

Article 64. Organization and Management of Public Investment Plans

1. Based on the resolution of the National Assembly on the medium-term and annual public investment plans, the Government shall specify organizational and implementation measures.

2. Based on the resolution of the National Assembly, the allocation decision of the competent authority, and the resolutions of the People's Councils at all levels on the medium-term and annual public investment plans, ministries, central agencies, localities, district and commune People's Committees, and organizations and units using public investment capital shall decide on organizational management measures for public investment plans under their own management.

3. The Prime Minister coordinates and integrates various sources of capital to implement investment programs funded by the state budget of ministries, central agencies, localities, and organizations and units using public investment capital without changing the implementation objectives of the programs and projects.

4. The Chairman of the provincial People's Committee decides on the coordination and integration of various sources of capital to implement programs and projects funded by the local budget and other loans from the local budget for investment without changing the implementation objectives of the programs and projects.

Article 65. Implementation of Public Investment Plans

1. Ministries, central agencies, localities, People's Committees at district and commune levels shall be responsible for:

a) Notifying or deciding to assign public investment plans to agencies and units using public investment capital;

b) Reporting to the competent authority on the assignment of public investment plans.

2. Agencies and units using public investment capital shall report to the competent authority on the implementation of the plan in accordance with the Government's regulations.

3. The Ministry of Planning and Investment and specialized agencies managing public investment shall be responsible for inspecting, urging to ensure the assignment and implementation of public investment plans in accordance with the decisions of the competent authority.

Article 66. Implementation of Public Investment Plans

1. Ministries, central agencies, localities, People's Committees at district and commune levels, agencies and units using public investment capital shall be responsible for:

a) Organizing the implementation of public investment plans in accordance with the objectives decided by the competent authority;

b) Implementing projects according to the schedule and capital plan decided by the competent authority;

c) Preparing plans and organizing the selection of contractors for packages within projects allocated capital according to the public investment plan decided by the competent authority;

d) Organizing acceptance and payment, settlement in accordance with the contract for completed and handed over packages;

đ) Balancing sources of capital to pay off outstanding construction debts in accordance with Clause 4, Article 101 of this Law;

e) Ensuring the scope and scale of each project's investment in accordance with the approved objectives, fields, programs and the allocated capital plan;

g) Monitoring, inspecting, evaluating the implementation of public investment plans.

2. The Ministry of Planning and Investment shall guide, monitor, inspect, and audit the implementation of medium-term and annual public investment plans of ministries, central agencies, and provincial People's Committees.

3. The Ministry of Finance shall ensure sufficient budgetary payments from the central budget according to the public investment plan decided by the competent authority.

4. The Government shall provide detailed regulations on the implementation of public investment plans.

Article 67. Adjustment of Public Investment Plans

1. The National Assembly shall decide on the overall adjustment of medium-term and annual public investment plans funded by the state budget in the following cases:

a) Due to adjustments in the objectives of national economic and social development strategies and plans;

b) Due to sudden changes in the state budget balance or the ability to mobilize various sources of capital.

2. The Standing Committee of the National Assembly shall decide on the adjustment of medium-term and annual public investment plans funded by the central budget among ministries, central agencies, and localities when the total medium-term and annual amounts have not been changed as decided by the National Assembly.

3. The Prime Minister shall base on specific circumstances during the planning period to decide on the adjustment of medium-term public investment plans funded by the central budget for ministries, central agencies, and localities assigned according to Clause 3, Article 60 of this Law within the total amount already decided by the National Assembly.

4. The Ministry of Planning and Investment shall be responsible for:

a) Chairing the review of adjustment plans for medium-term public investment plans funded by the central budget among ministries, central agencies, and localities, reporting to the Government for submission to the Standing Committee of the National Assembly for consideration and decision;

b) Chairing the review of adjustment plans for medium-term public investment plans funded by the central budget within and between sectors, fields, and programs of ministries, central agencies, and localities, reporting to the Prime Minister for consideration and decision.

5. Heads of ministries and central agencies with authority and responsibility as follows:

a) Adjusting annual public investment plans funded by the central budget among projects within the list decided by the competent authority but not exceeding the total amount of capital assigned by the competent authority;

b) Sending reports to the Ministry of Planning and Investment and the Ministry of Finance for consolidation and monitoring of central budget funds.

6. Provincial People's Committees have the authority and responsibility as follows:

a) Adjusting annual public investment plans for supplementary targeted funds under their management but not exceeding the total amount of capital assigned by the competent authority;

b) Sending reports to the Ministry of Planning and Investment and the Ministry of Finance for consolidation and monitoring of supplementary targeted central budget funds.

7. People's Councils at all levels adjust medium-term and annual public investment plans funded by local budgets in the following cases:

a) Due to adjustments in the objectives of local economic and social development plans;

b) Due to sudden changes in local budget revenue balance or the ability to mobilize various sources of capital of the locality;

c) Due to changes in the need for use or the ability to implement annual planned capital between local agencies and units.

8. People's Committees at all levels decide on the adjustment of medium-term and annual public investment plans funded by local budgets for investment among sectors, fields, and programs and within sectors, fields, and programs of units using these sources of funds and report to the same-level People's Council at the nearest session.

9. The Government shall provide detailed regulations on the procedures and formalities for adjusting medium-term and annual public investment plans funded by the state budget.

Article 68. Time for Implementation and Disbursement of Capital under the Medium-Term and Annual Public Investment Plans

1. The time for implementation and disbursement of capital under the medium-term public investment plan phase before shall be until January 31 of the first year of the subsequent medium-term public investment plan phase.

2. The time for implementation and disbursement of capital under the annual public investment plan shall be until January 31 of the following year. In cases of force majeure, the Prime Minister decides on central budget capital, and the People's Council at the provincial level decides on local budget capital to extend the implementation period but not exceeding December 31 of the following year.

3. For programs and projects using ODA non-refundable aid capital that have not been budgeted or exceed the allocated budget, the Government shall report to the Standing Committee of the National Assembly for comments prior to implementation and report to the National Assembly at the nearest session.

Section 2

MONITORING, INSPECTION, EVALUATION, AUDIT, SUPERVISION

OF PUBLIC INVESTMENT PLANS, PROGRAMS, AND PROJECTS

Article 69. Monitoring and Inspection of Public Investment Plans

1. Specialized agencies managing public investment organize monitoring and inspection of public investment plans under their management.

2. The contents of monitoring and inspecting public investment plans include:

a) The situation regarding compliance with laws on public investment;

b) The establishment, review, approval, and allocation of public investment plans;

c) The establishment, review, approval, and implementation of programs and projects included in the public investment plan;

d) The situation regarding the implementation of public investment plans;

e) The situation regarding arrears in construction, waste, and loss in public investment.

Article 70. Evaluation of Public Investment Plans

1. Medium-term public investment plans are evaluated mid-term and at the end of the plan.

2. Annual public investment plans are evaluated quarterly and annually.

3. The contents of evaluating public investment plans include:

a) The degree of achievement compared to the plan approved by the competent authority;

b) The impact of the public investment plan on attracting investment from other sources and economic and social development results;

c) The feasibility of the public investment plan;

d) The situation regarding public investment management;

e) Existing issues and limitations, reasons for these issues and limitations in implementing the public investment plan, and solutions to address them.

Article 71. Monitoring and Inspection of Programs and Projects

1. The supervising agency, program manager, project investor, person authorized to decide on investment in programs and projects, and state management agency on public investment implement comprehensive monitoring and inspection throughout the investment process of programs and projects according to the approved content and indicators to ensure investment objectives and effectiveness.

2. The inspection of programs and projects is carried out as follows:

a) Program managers and project investors inspect the programs and projects they manage;

b) The supervising agency and person authorized to decide on investment organize inspections at least once for programs and projects with an implementation period exceeding 12 months;

c) The supervising agency and person authorized to decide on investment organize inspections when adjusting programs and projects that change location, objectives, scale, increase total investment, and other necessary cases;

d) The state management agency on public investment decides to organize inspections of programs and projects according to a plan or on an ad hoc basis.

Article 72. Evaluation of Programs and Projects

1. The evaluation of programs and projects includes initial assessment, mid-term or phase assessment, final assessment, impact assessment, and ad hoc assessment.

2. For public investment programs, mid-term or phase assessment, final assessment, and impact assessment must be conducted.

3. For national key projects and Group A projects, initial assessment, mid-term assessment, final assessment, and impact assessment must be carried out.

4. For Group B and Group C projects, final assessment and impact assessment must be performed.

5. In addition to the provisions of Clauses 2, 3, and 4 of this Article, the managing agency, the competent authority for investment decision-making, and the state management agency for public investment shall decide to conduct other assessments as provided in Clause 1 of this Article when necessary.

Article 73. Content of Program and Project Evaluation

1. The content of initial assessment includes:

a) Preparation work, organization, and mobilization of resources to implement the program or project in accordance with the approved objectives and schedule;

b) Any obstacles or new issues arising since the approval of the program or project;

c) Proposals for measures to address these obstacles and issues in line with actual conditions.

2. The content of mid-term or phase assessment includes:

a) The alignment of the results of implementing the program or project with the investment objectives;

b) The extent of completion of tasks up to the time of assessment compared to the approved plan;

c) Proposals for necessary solutions, including adjustments to the program or project.

3. The content of final assessment includes:

a) The implementation process of the program or project: management activities of the program or project; achievement of program or project objectives; mobilized resources; benefits brought to beneficiaries; impacts and sustainability of the program or project;

b) Lessons learned from the implementation process of the program or project and proposals for necessary recommendations; responsibilities of consulting organizations, managing agencies, program sponsors, investors, authorities responsible for investment policies and decisions, and related agencies, organizations, and individuals.

4. The content of impact assessment of programs and projects includes:

a) Current economic and technical operation status;

b) Economic and social impacts;

c) Environmental and ecological impacts;

d) Project sustainability;

đ) Lessons learned from investment policies, investment decisions, implementation, and operation of the program or project; responsibilities of consulting organizations, managing agencies, program sponsors, investors, authorities responsible for investment policies and decisions, and related agencies, organizations, and individuals.

5. The content of ad hoc assessment includes:

a) The alignment of the results of implementing the program or project up to the time of assessment with the investment objectives;

b) The extent of completion of tasks up to the time of assessment compared to the approved plan;

c) Identification of unforeseen occurrences (if any), causes of such occurrences, and the responsibility of relevant agencies, organizations, and individuals;

d) The influence and degree of influence of unforeseen occurrences on the implementation of the program or project and the ability to achieve program or project objectives;

đ) Proposals for necessary solutions.

6. The Government shall stipulate methods and criteria for evaluating the effectiveness of public investment programs and projects.

Article 74. Community Investment Oversight

1. Programs and projects subject to community oversight. The Vietnam Fatherland Front at all levels shall take the lead in organizing the implementation of community investment oversight and social feedback.

2. The managing authority shall refer to, explain, and adopt the opinions of the local community regarding the decision on national key projects, Group A projects, large-scale resettlement projects, projects with significant environmental impacts, and projects directly affecting the economic and social life of the local community concerning investment policies, construction, land, waste management, environmental protection, compensation, land clearance, and resettlement plans as prescribed by law.

3. The contents of community investment oversight include:

a) Compliance with legal provisions on investment, construction, land, waste management, and environmental protection;

b) Compensation, land clearance, and resettlement plans ensuring the benefits of the people;

c) Programs and projects utilizing part of the capital contributed by the people;

d) Implementation progress and schedule of programs and projects;

đ) Transparency and openness in public investment as stipulated in Article 14 of this Law;

e) Identifying actions detrimental to community interests; negative impacts of projects on the living environment of the community during implementation and operation; wasteful and loss-causing actions involving project assets.

Article 75. Procedures for Community Investment Oversight

1. The Vietnam Fatherland Front shall take the lead and coordinate with political-social organizations and relevant agencies to implement the following contents:

a) Develop annual community investment oversight plans for programs and projects within their jurisdiction according to the contents specified in Clause 3 of Article 74 of this Law;

b) Establish a Community Investment Oversight Board for each program and project;

c) Notify the program sponsor, investor, and project management board about the oversight plan and the composition of the Community Investment Oversight Board at least 45 days before the implementation date.

2. The program sponsor, investor, and project management board shall be responsible for:

a) Providing complete, truthful, and timely documentation related to the implementation of programs and projects as stipulated in Clause 2 of Article 74 of this Law to the Community Investment Oversight Board;

b) Facilitating conditions for the Community Investment Oversight Board to carry out oversight activities in accordance with the law;

c) Adopting oversight opinions and enhancing measures to implement the project.

Article 76. Organization of Monitoring, Inspection, and Evaluation of Plans, Programs, and Projects

1. The program sponsor and investor shall be responsible for organizing initial, mid-term, and final monitoring, inspection, and evaluation of programs and projects.

2. The managing authority, the investment decision-maker, and the state agency managing public investment shall organize monitoring, inspection, and impact assessment, as well as ad hoc evaluations of programs and projects under their management.

3. The entity or organization conducting the evaluation shall self-evaluate or hire qualified experts or consulting organizations to conduct the evaluation.

4. The Government shall provide detailed regulations on the monitoring, inspection, and evaluation of plans, programs, and projects, and community investment oversight.

Article 77. Inspection of Public Investment

1. The inspection activities on the management and use of public investment capital shall be carried out in accordance with the provisions of this Law and other relevant laws.

2. Inspections of public investment activities must be linked to the inspection functions and tasks of agencies and organizations and must follow the prescribed procedures and inspection formalities under the law on inspections.

3. Inspection conclusions on public investment activities shall be made public in accordance with the law. In cases where violations of public investment laws are discovered, the inspection agency shall handle them within its authority or transfer the case file to competent state agencies for handling.

Chapter V

TASKS, POWERS, RESPONSIBILITIES OF AGENCIES,

ORGANIZATIONS, AND INDIVIDUALS IN PUBLIC INVESTMENT ACTIVITIES

Article 78. Tasks and Powers of the National Assembly

1. Enact laws and resolutions on public investment.

2. Decide on the investment policy for national target programs and important national projects using public investment capital.

3. Decide and adjust the medium-term and annual public investment plans.

4. Adjust criteria for classifying important national projects.

5. Supervise the implementation of public investment plans, national target programs, and important national projects; supervise the implementation of laws on public investment.

Article 79. Tasks and Powers of the Government

1. Uniformly manage public investment under state administration.

2. Submit laws and resolutions to the National Assembly for promulgation; submit ordinances and resolutions on public investment to the Standing Committee of the National Assembly for promulgation.

3. Issue legal documents on public investment management.

4. Submit to the National Assembly for decision on the investment policy for national target programs and important national projects.

5. Decide on the investment policy for public investment programs as stipulated in Clause 2, Article 17 of this Law.

6. Draft and submit to the National Assembly for decision and adjustment of medium-term and annual public investment plans.

7. Organize the implementation of medium-term and annual public investment plans.

8. Report to the National Assembly on the implementation of medium-term and annual public investment plans, national target programs, and important national projects.

9. Organize inspections and audits of the implementation of medium-term and annual public investment plans; inspect the implementation of programs and projects funded by central government budgets, lawful revenues of state agencies, and public service units designated for investment, and inspect the implementation of public investment objectives and policies in localities.

Article 80. Tasks and Powers of the Ministry of Planning and Investment

The Ministry of Planning and Investment is the lead agency assisting the Government in managing public investment under state administration and has the following tasks and powers:

1. Issue or submit to the competent authority for issuance legal documents related to public investment, principles, criteria, allocation quotas, and usage standards for public investment capital;

2. Take the lead and coordinate with the Ministry of Finance to report to the Government on determining the state budget capital allocated for national development investment by sector and field in the medium-term and annual public investment plans;

3. Aggregate and submit to the Government and the Prime Minister the national medium-term and annual public investment plans;

4. Aggregate and submit to the Government and the Prime Minister for consideration and reporting to the National Assembly and the Standing Committee of the National Assembly for adjustment of the national medium-term and annual public investment plans;

5. Take the lead and coordinate with relevant agencies to appraise sources of capital and the ability to balance capital as prescribed in Article 33 of this Law;

6. Be responsible before the Government for uniformly managing national target programs under state administration;

7. Organize the implementation, monitor, inspect, evaluate, and audit plans, programs, projects, and other state management tasks on public investment.

Article 81. Tasks and Authorities of the Ministry of Finance

1. Coordinate with the Ministry of Planning and Investment to develop medium-term and annual public investment plans.

2. Coordinate with the Ministry of Planning and Investment to report to the Government to determine the state budget capital for national development investment according to each sector and field in the medium-term and annual public investment plans.

3. Take the lead and coordinate with the Ministry of Planning and Investment to guide local financial agencies to balance regular expenses to pay for costs of project preparation, review, investment policy decision, approval of investment decisions for programs, and maintenance and operation of projects put into use.

4. Take the lead and submit to competent authorities for issuance or issue within their authority regulations on management, payment, and settlement of projects using public investment capital.

5. Report to the Government on the disbursement and settlement of plans, programs, and projects.

Article 82. Tasks and Authorities of Ministries and Central Agencies

1. Implement state management functions over public investment in accordance with the provisions of the law.

2. Issue, guide, inspect, and supervise the implementation of standards, technical norms, and economic-technical quotas.

3. Take the lead and coordinate with relevant agencies to review sources of capital and the ability to balance capital for projects as stipulated in Article 33 of this Law.

5. Organize the development of public investment plans.

6. Monitor, evaluate, supervise, inspect, and audit the implementation of plans, programs, and projects under their management.

7. Report on the situation and results of implementing plans, programs, and projects.

8. Coordinate with ministries, central agencies, and localities to implement plans, programs, and projects according to assigned functions and tasks.

Article 83. Tasks and Authorities of People's Councils at all levels

2. Examine and provide opinions on medium-term and annual public investment plans of the locality, including the list and amount of capital allocated to each project using central government budget supplements with specific purposes.

3. Decide on medium-term and annual public investment plans of the locality, including the entire list and amount of capital allocated to each project using the local government budget.

4. Supervise projects using public investment capital assigned to the locality for management, including central government budget capital, local government budget capital, and lawful revenue sources of state agencies and public service units designated for investment managed by the locality.

Article 84. Tasks and Authorities of Provincial People's Committees

1. Implement state management over public investment in the locality in accordance with the law.

2. Submit the following contents to the Provincial People's Council:

a) Decisions on investment policies for public investment programs and projects using local government budget capital;

b) Examine and provide opinions on investment policies for projects within the Prime Minister's authority to decide on investment policies as stipulated in Clause 4, Article 17 of this Law;

c) Examine and decide on medium-term and annual public investment plans according to the list and amount of capital allocated to each project managed by the locality.

3. The Chairman of the Provincial People's Committee may authorize deputy chairpersons or heads of specialized agencies to decide on investment for Class B and C projects under provincial management, except for projects specified in Point c, Clause 1, Article 35 of this Law.

4. Organize the implementation and monitor and evaluate public investment plans from capital under their own management.

5. Coordinate with ministries and central agencies to organize the implementation, monitor, inspect, and evaluate programs and projects in the province.

Article 85. Tasks and authorities of the People's Committee at the district level and commune level

1. Organize the preparation of medium-term and annual public investment plans under their management.

2. Organize the review of programs and projects under their management.

3. Submit to the People's Council at the same level the following contents:

a) Decision on the investment policy for programs and public investment projects using local budget funds, including additional targeted funds from higher-level budgets;

b) Provide opinions on the investment policy for projects within the Prime Minister’s decision-making authority according to Clause 4, Article 17 of this Law and the higher-level People's Council;

c) Decision on the medium-term and annual public investment plans with local budget funds managed by them.

4. The Chairman of the People's Committee at the district level and commune level decides on the investment in programs and projects according to Clause 4, Article 35 of this Law.

5. Organize the implementation, monitoring, evaluation, inspection, and auditing of plans, programs, projects, and other state management tasks related to public investment according to the delegated management levels.

6. Coordinate with relevant agencies and organizations to implement, monitor, inspect, and evaluate programs and projects within their jurisdiction.

Article 86. Tasks and authorities of the State Audit Agency

1. Decide on the annual audit plan regarding plans, programs, projects, and report to the National Assembly before implementation.

2. Organize the implementation of the annual audit plan, special audits, and audits of plans, programs, and projects according to the requirements of the National Assembly, Standing Committee of the National Assembly, President, Government, and Prime Minister.

3. Report to the National Assembly and Standing Committee of the National Assembly the results of annual audits, special audits, and the implementation of audit recommendations on plans, programs, and projects.

4. Organize the publication and disclosure of audit reports on plans, programs, and projects according to the provisions of the law.

Article 87. Tasks and authorities of the Vietnam Fatherland Front

1. Take the lead in organizing community investment supervision and social feedback on programs and projects according to Clause 1 and Clause 3, Article 74 of this Law and other relevant laws.

2. Organize the collection of community opinions on the investment policies for programs and projects within their jurisdiction according to Clause 2, Article 74 of this Law and the regulations on democratic implementation at communes, wards, and towns.

Article 88. Rights and responsibilities of agencies, organizations, and individuals in proposing investment policies

1. Propose programs and projects consistent with economic and social development strategies, plans, and related planning regulations according to the law on planning during each period.

2. Ensure the mobilization and balance of resources to implement programs and projects to complete within the specified time frame.

3. Propose competent authorities to consider and decide on investment policies when programs do not overlap with other programs and regular tasks according to assigned functions and responsibilities.

4. Bear responsibility for information and data related to proposed programs and projects.

Article 89. Rights and responsibilities of agencies, organizations, and individuals related to decisions on investment policies

1. Agencies, organizations, individuals, and heads of organizations deciding on investment policies for programs and projects must comply with the provisions of Article 18 of this Law.

2. Agencies, organizations, individuals, and heads of organizations deciding on investment policies for programs and projects with implementation periods spanning two consecutive medium-term public investment plans must ensure that the total value of investment for programs and projects to be implemented in the subsequent medium-term public investment plan does not exceed 20% of the total capital planned for the previous medium-term public investment plan of the Ministry, central agency, or locality.

Article 90. Rights and responsibilities of the program sponsor and project investor related to the establishment of programs and projects

1. Shall be responsible under the law for the contents of the dossier submitted to the competent authority for examination, verification, and decision-making.

2. Provide necessary documents for agencies examining and verifying programs and projects.

3. Propose solutions to mobilize sources of capital to implement programs and projects according to the prescribed schedule and time frame.

4. Shall be responsible under the law for the establishment of programs and projects.

Article 91. Rights and responsibilities of agencies, organizations, and individuals deciding to invest in programs and projects

1. Decide to invest in programs and projects in accordance with the investment policy already decided by the competent authority, commensurate with the ability to balance funds within their managed sources, in compliance with investment standards and norms, and the results of examination.

2. Organize the examination of programs and projects before approval, including the examination of funding sources and the ability to balance funds.

3. Balance funds to pay for costs associated with establishing and examining programs and projects under their management.

4. Direct the program sponsor and project investor to implement programs and projects on schedule and ensure quality within the approved investment plan.

5. Decide on adjustments, temporary suspension, or cancellation of programs and projects.

6. Organize monitoring, inspection, and evaluation of programs and projects and the activities of the program sponsor and project investor during implementation.

7. Shall be responsible under the law for actions violating regulations regarding authority during the selection of program sponsors and project investors.

Article 92. Rights and responsibilities of agencies, organizations, and individuals related to consulting design for programs and projects

1. Consulting organizations have the right to request the program sponsor and project investor to provide information and documents related to the design of programs and projects.

2. Design programs and projects in compliance with standards, norms, quotas, and technical solutions ensuring quality; shall not exceed the prescribed standards, norms, and quotas.

3. Shall be responsible for the results of designing programs and projects.

Article 93. Rights and responsibilities of agencies, organizations, and individuals related to the examination of plans, programs, and projects

1. Agencies, organizations, and individuals involved in the examination of plans, programs, and projects shall conduct examinations in accordance with the law, and shall be responsible for the results of the examination and their recommendations.

2. The examination must ensure independence, honesty, objectivity, and compliance with this Law and other relevant laws.

Article 94. Rights and responsibilities of the program sponsor and project investor in managing and implementing programs and projects

1. Organize the management and implementation of programs and projects, ensuring they meet the objectives, schedules, quality, and effectiveness of the programs and projects.

2. Report and provide information to management agencies and Vietnam Fatherland Front at all levels about the implementation of programs and projects in accordance with this Law and other relevant laws.

Article 95. Rights and responsibilities of the Program and Project Management Board

1. Propose schemes, solutions, and organize the management and implementation of programs and projects in accordance with the objectives, schedules, and quality as authorized by the program sponsor and project investor.

2. Report to the program sponsor and project investor on the progress of implementing programs and projects.

Article 96. Rights and responsibilities of agencies, organizations, and individuals implementing monitoring, evaluation, and inspection of plans, programs, and projects

1. The heads of ministries, central agencies, and localities, the Chairpersons of People's Committees at district and commune levels, program managers, and investors shall be responsible for the consequences resulting from not organizing the implementation of monitoring, evaluation, and inspection of plans, programs, and projects or not reporting as prescribed.

2. Agencies, organizations, and individuals assigned the task of implementing monitoring, inspection, and evaluation of plans, programs, and projects must bear responsibility for the contents of their reports.

3. Program managers and investors shall be responsible for the contents of their reports and shall bear responsibility according to the provisions of the law due to inaccurate reporting or providing information about the implementation of investment within their management scope.

Article 97. National Information System and Database on Public Investment

1. The national information system and database on public investment shall be built and implemented uniformly throughout the country to serve state management activities on public investment, including the consolidation, reporting, allocation, and adjustment of medium-term and annual public investment plans; monitoring, evaluating public investment programs and projects; managing, storing, and publicly disclosing data as prescribed.

2. Responsibilities for building, managing, implementing, and applying the national information system and database on public investment are stipulated as follows:

a) The Ministry of Planning and Investment shall organize the construction, management, and implementation of the national information system and database on public investment;

b) Ministries, central agencies, and localities shall implement the application of the national information system and database on public investment within their management scope.

3. Information and data belonging to the national information system and database on public investment are original information and data of programs, projects, and public investment plans.

4. The Government shall provide detailed regulations on this matter.

Article 98. Handling of Violations

Agencies, organizations, and individuals who commit violations of this Law shall be subject to disciplinary action, administrative penalties, or criminal prosecution depending on the nature and severity of the violation; if damage is caused, they must provide compensation according to the law.

Chapter VI

IMPLEMENTATION PROVISIONS

Article 99. Amendment of Point a Clause 2 Article 25 of the Environmental Protection Law No. 55/2014/QH13 amended and supplemented by Law No. 35/2018/QH14

Amend Point a Clause 2 of Article 25 of the Environmental Protection Law as follows:
"a) Deciding on the investment policy for projects concerning the objects specified in Article 18 of this Law when the law requires a decision on the investment policy;

For public investment projects, the competent authority shall base its decision on the initial environmental impact assessment to decide on the investment policy; and base its decision on the environmental impact assessment to decide on investment for the objects specified in Article 18 of this Law. The Government shall specify the objects and contents of the initial environmental impact assessment."

Article 100. Effective Date

1. This Law shall take effect from January 1, 2020.

2. The Public Investment Law No. 49/2014/QH13 amended and supplemented by Law No. 28/2018/QH14 shall cease to be effective from the date this Law takes effect, except for the cases provided for in Clause 3 and Clause 5 of Article 101 of this Law.

Article 101. Transitional Provisions

1. For programs and projects that have been allocated capital in the investment plan decided by the competent authority before January 1, 2015 but not allocated capital in the medium-term public investment plan for the period 2016-2020, the adjustment of the investment decision for such programs and projects shall be carried out in accordance with the provisions of this Law.

2. For programs and projects that have been decided on investment orientation and investment decisions in accordance with the Public Investment Law No. 49/2014/QH13, amended and supplemented by some articles under Law No. 28/2018/QH14, but not included in the public investment plan decided by the competent authority, the adjustment of investment orientation decisions and investment decisions for such programs and projects shall be carried out in accordance with the provisions of this Law.

3. Programs and projects that completed the procedures for preparation and review before this Law comes into effect shall continue to proceed with the procedures to submit to the competent authority for consideration and decision in accordance with the Public Investment Law No. 49/2014/QH13, amended and supplemented by some articles under Law No. 28/2018/QH14 and detailed regulations and guidance documents.

4. Capital shall only be allocated in the public investment plan to settle outstanding construction debts arising before January 1, 2015.

5. For the 2019 and 2020 capital investment plans, ministries, central agencies, and localities are permitted to implement and disburse funds in accordance with the Public Investment Law No. 49/2014/QH13, amended and supplemented by some articles under Law No. 28/2018/QH14 and detailed regulations and guidance documents.

This Law was passed by the National Assembly of the Socialist Republic of Vietnam, the 7th session of the 14th term, on June 13, 2019.