Decree No. 69/2019/ND-CP on the use of state assets to pay investors when implementing construction projects under Build-Transfer (BT) contracts

DECREE

Regulations on the use of state assets to pay investors when implementing construction projects under the Build-Transfer Contract form
Law on Bidding
Land Law

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Pursuant toLaw on Government Organization June 19, 2015;

Pursuant toNovember 29, 2013; dated November 26, 2013;

Pursuant toConstruction LawJune 18, 2014;

Pursuant toPublic Investment LawInvestment Law

Pursuant toState Budget LawInvestment Law

Pursuant toThe Government issues this Decree regulating the use of state assets to pay investors when implementing construction projects under the Build-Transfer Contract form.November 26, 2014;

Pursuant toArticle 1. This Decree regulates the use of state assets to pay investors when implementing construction projects under the Build-Transfer Contract form (hereinafter referred to as BT Project) in accordance with the provisions of the law.dated June 25, 2015;

Pursuant todated October 28, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Planning and Investment;dated June 21, 2017;

At the proposal of the Minister of Finance;

Article 2. State assets for paying investors implementing BT Projects include:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

a) Land funds.

b) Land, houses, and other assets attached to land (hereinafter referred to as office premises) of state agencies, public service organizations, people's armed forces units, Communist Party of Vietnam agencies, political-social organizations, political-social-professional organizations, social organizations, social-professional organizations, and other organizations established in accordance with the law on associations (hereinafter referred to as agencies, organizations, and units).

c) Infrastructure assets serving national interests and public interests (hereinafter referred to as infrastructure assets).

d) Other types of state assets as prescribed by the Law on Management and Use of State Assets.

Article 3. In cases where state assets are auctioned to obtain funds for paying the BT Contract, the use of the proceeds from the auction of state assets to pay investors implementing BT Projects shall be carried out in accordance with the Public Investment Law, the State Budget Law, and related guiding documents.

Clause 1. The competent state agency that signs the Build-Transfer Contract (hereinafter referred to as the BT Contract).

Clause 2. Agencies, organizations, and units authorized by the competent state agency to sign the BT Contract or to prepare investment, negotiate, and sign the BT Contract and implement the BT Contract (hereinafter referred to as the Authorized Agency).

Article 2. Applicability

Clause 3. Investors implementing the BT Contract (hereinafter referred to as the Investor).

Clause 4. Other agencies, organizations, and individuals related to the implementation of the BT Project.

Article 3. Principles of Payment for BT Projects using State Assets

Clause 1. The use of state assets to pay investors implementing BT Projects must ensure:

a) Compliance with the provisions of the law on management and use of state assets, land, state budget, investment, and construction.

b) The selection of investors to implement BT Projects through open bidding in accordance with the law on bidding.

c) Only to be implemented after permission from the competent state agency in accordance with the law.

Clause 2. The use of state assets to pay investors implementing BT Projects shall be carried out according to the principle of equal value, the value of the BT Project equivalent to the value of the state assets used for payment; determined as follows:

a) The value of state assets is determined based on market price in accordance with the law at the time of payment specified in Clause 4 of this Article.

b) The value of the BT Project is determined based on the bidding results.

Clause 3. The use of state assets to pay investors implementing BT Projects must be consolidated and reflected in the state budget in accordance with the law on the state budget; specifically:

a) For state assets under central management, they are consolidated and reflected in the central budget.

b) For state assets under local management, they are consolidated and reflected in the local budget.

Clause 4. The payment time for BT Projects in cases of payment by land fund or office premises is the time when the People's Committee of the province or centrally-administered city (hereinafter referred to as the Provincial People's Committee) issues a decision allocating land or leasing land to the investor. The payment time for BT Projects in cases of payment by infrastructure assets and other types of state assets is the time when the competent state agency issues a decision allocating assets to the investor.

Clause 5. Interest on loans in the financial plan of the BT Contract for the portion of the project value completed according to the schedule ceases from the time the competent state agency issues a decision allocating land, leasing land, or allocating assets to the investor.

Clause 6. The allocation of state assets to pay investors implementing BT Projects shall be carried out after the completion of the BT Project or simultaneously corresponding to the volume of construction of the BT Project completed according to the schedule determined by the competent state agency in accordance with the law on investment and construction.

5. The interest on the loan in the financial plan of the BT Contract for the portion of the value of the BT Project's works completed according to the schedule shall terminate from the date when the competent state agency issues the decision to transfer land, lease land, or transfer assets to the Investor.

6. The transfer of public assets to settle the Investor implementing the BT Project shall be carried out after the BT Project is completed or simultaneously corresponding to the volume of construction of the BT Project's works completed according to the schedule determined by the competent state agency in accordance with the laws on investment and construction.

Article 4. Determining the value of the BT Project for settlement

1. The value of the BT Project recorded in the BT Contract for settlement shall be determined based on the tender results and shall not change from the date the BT Contract is signed, except in cases provided for in Clause 2 of this Article.

2. In cases where the competent state agency permits adjustments to the scale, technical design, compensation costs, land clearance costs of the BT Project, and interest expenses in the financial plan of the BT Contract in accordance with the provisions of the law, leading to changes in the value of the BT Project, the following shall be implemented:

a) The adjusted value of the BT Project shall be determined in accordance with the provisions of the laws on investment, construction, and related laws at the time the competent state agency permits adjustments to the scale, technical design, compensation costs, land clearance costs of the BT Project, and interest expenses in the financial plan of the BT Contract.

b) The adjusted value of the BT Project recorded in the Appendix of the BT Contract shall be included in the value of the BT Project for settlement and final settlement of the BT Contract in accordance with the provisions of the law.

3. The value of the BT Project for settlement is the value of the BT Project settled according to the provisions of the law (hereinafter referred to as the final settlement value of the BT Contract).

Chapter II

SPECIFIC PROVISIONS

Section 1

USING THE LAND FUND TO SETTLE THE INVESTOR IMPLEMENTING THE BT PROJECT

IMPLEMENTATION OF THE BT PROJECT

Article 5. Land fund for settling the investor

1. The land fund for settling the investor shall apply the form of the State granting land with payment for land use rights or leasing land with one-time payment for the entire lease period in accordance with the law on land.

2. The land fund for settling the investor is land that has not been cleared or land that has completed land clearance, ensuring the following requirements:

a) The land belongs to the planning and land use plan approved by the competent state agency.

b) The recovery of land for the land fund for settling the investor implementing the BT Project must comply with the provisions of the law on land.

c) In cases where the land fund that has completed land clearance is used to settle the investor implementing the BT Project, the People's Committee of the province shall report to the Prime Minister for consideration and decision before deciding on the investment policy of the project.

3. The competent state agency selects the land fund for settling the investor as stipulated in Clause 2 of this Article to ensure that the estimated value of the land fund to be settled is equivalent to the approved value of the BT Project, including:

a) When signing the BT Contract, if the actual value of the land fund cannot be determined, the estimated equivalent value of the land fund to be settled shall be determined at the time of signing the BT Contract by multiplying the planned area of the land fund to be granted by the new land use purpose price in the land price table issued by the provincial People's Committee and then multiplying by the land price adjustment coefficient for calculating land use fee and land lease fee issued by the provincial People's Committee.

b) When the competent state agency decides to grant land or lease land, the determination of the value of the land fund for settlement shall be carried out in accordance with the provisions of Article 6 of this Decree.

Article 6. Determining the value of the land fund for settlement

1. The value of the land fund for settlement is the land use fee or one-time lease fee for the entire lease period. The determination of the value of the land fund for settlement shall be carried out in accordance with the provisions of the law on land use fee and lease fee. No exemption or reduction of land use fee or lease fee shall be implemented when determining the value of the land fund for settlement.

2. The value of the land fund shall be determined in accordance with the procedures and formalities for determining specific land prices prescribed by the law on land; including:

a) The value of the land fund for settlement shall be determined at the time of the decision to grant land or lease land by the competent state agency in accordance with the provisions of the law on land.

b) The Department of Natural Resources and Environment shall organize the determination of the value of the land fund for settlement to report to the Land Price Appraisal Council.

c) Based on the appraisal results of the Land Price Appraisal Council, the provincial People's Committee shall approve the value of the land fund.

3. The value of the land fund for settlement shall be equivalent to the value of the BT Project and shall not change from the date the competent state agency determines it; except in cases provided for in Clause 4 of this Article.

4. In cases where the competent state agency permits adjustments to the land use plan and construction plan in accordance with the provisions of the law, leading to changes in the value of the land fund for settlement, the following shall be implemented:

a) The adjusted value of the land fund for settlement shall be determined in accordance with the provisions of the law at the time the competent state agency permits adjustments to the land use plan and construction plan. The adjusted value shall be recorded in the Appendix of the BT Contract signed between the competent state agency and the investor and shall be included in the value of the land fund for settlement of the investor.

b) The procedures and formalities for determining the adjusted value of the land fund for settlement shall be carried out in accordance with the provisions of Clause 2 of this Article.

5. The actual value of the land fund for settlement is the value of the land fund for settlement after being adjusted according to the Appendices of the BT Contract stipulated in Clause 4 of this Article (if any) and ensuring the principle prescribed in Clause 2 of Article 3 of this Decree.

Article 7. Using the land fund that has been completed with land clearance for payment in BT Projects

1. The determination of the value of the land fund for payment shall be carried out in accordance with the provisions of Article 6 of this Decree, specifically as follows:

a) In cases where land is transferred with payment for land use rights, the value of the land fund for payment is the land use fee determined in accordance with the laws on collecting land use fees.

b) In cases where land is leased, the value of the land fund for payment is the lump-sum lease fee for the entire lease period determined in accordance with the laws on collecting lease fees and water surface lease fees.

2. Payment of BT Projects using the land fund shall be conducted at equivalent value; accordingly, the value of the land fund is equivalent to the value of the completed construction volume of the BT Project according to the progress determined by the competent state agency in accordance with the laws; specifically:

a) Based on the completed construction volume of the BT Project according to the progress, the competent state agency determines the equivalent value of the land fund for payment. The accounting of budget revenue and expenditure shall be implemented in accordance with the provisions of Article 16 of this Decree.

b) In cases where the value of the land fund for payment exceeds the value of the BT Project, the Investor shall pay the difference in cash into the state budget. In cases where the value of the land fund for payment is less than the value of the BT Project, the State shall pay the difference to the Investor in cash or in land funds at the time of final settlement of the completed BT Project.

3. The competent state agency shall issue the Land Use Right Certificate, House Ownership Certificate, and Certificates for Other Assets Attached to the Land (hereinafter referred to as the Certificate) to the Investor in accordance with the laws on land for the corresponding area of the land fund for payment corresponding to the value of the completed BT Project according to the progress determined by the competent state agency in accordance with the laws on investment and construction.

4. After the Provincial People's Committee issues the decision to transfer or lease land, the Parties signing the BT Contract shall determine the interest on borrowed capital for investment in the financial plan of the BT Contract for the value of the completed construction of the BT Project according to the progress corresponding to the value of the land fund for payment up to the date when the Provincial People's Committee issues the decision to transfer or lease land and signs the Supplementary Agreement of the BT Contract recording the adjusted value of the BT Project.

5. When the BT Project is completed and approved for final settlement in accordance with the regulations, based on the value of the BT construction volume according to the BT Contract and any Supplementary Agreements of the BT Contract (if any), the Parties signing the BT Contract shall determine the value of the land fund for payment as follows:

a) In cases where the total value of the land fund for payment exceeds the total value of the BT Project, the Investor must pay the difference in cash into the state budget or reduce the corresponding land fund. The Provincial People's Committee shall consider and decide, ensuring compliance with the laws and bearing responsibility for its decision.

b) In cases where the total value of the land fund for payment is less than the total value of the BT Project, the State shall pay the difference in cash or in land funds to the Investor; in cases where the State pays the difference in additional land funds to the Investor, it must ensure equivalent value, whereby the value of the additional land fund must be equivalent to the value of the difference between the total adjusted value of the land fund for payment and the total adjusted value of the BT Project.

c) After completing the payment in accordance with points a and b of this Clause, the Parties signing the BT Contract shall sign a confirmation document to complete the payment to terminate the BT Contract in accordance with the laws.

Article 8. Using land funds not yet cleared for payment of BT Project

1. Based on the approved planning at a scale of 1/500 or 1/2000 in accordance with the provisions of the law, the competent state agency proposes to sign a BT Contract with the Investor and the provincial People's Committee commits in writing to the Investor regarding the use of land funds for payment of the BT Project; simultaneously, instructs local functional agencies and the Investor to carry out:

a) Preparing a compensation and clearance plan to report to the competent state agency for approval.

b) The Investor shall advance the compensation and clearance costs according to the approved compensation and clearance plan, and this amount will be included in the value of the BT Contract; interest expenses for raising capital for the BT Project will not be counted for this amount.

c) Organizing the implementation of compensation and clearance according to the approved plan.

2. Based on the results of compensation and clearance and the progress of the BT Project, the provincial People's Committee issues a decision to transfer land or lease land to the Investor in accordance with the law.

3. Determining the value of land funds for payment and payment of the BT Project shall be carried out in accordance with the provisions of Article 6 and Article 7 of this Decree.

Section 2

USING HEADQUARTERS FOR PAYMENT

TO THE INVESTOR IMPLEMENTING THE BT PROJECT

Article 9. Determining the value of headquarters for payment of the BT Project

1. The value of headquarters for payment of the BT Project is the value of land use rights and the value of assets on the land determined at the time the provincial People's Committee issues a decision to transfer land or lease land in accordance with the law on land; no exemption or reduction of land use fees or land rental fees when determining the value of headquarters for payment. In which:

a) For the value of land use rights: In the case of transferring land with land use fees, the value of the land fund for payment is the land use fee determined in accordance with the law on collecting land use fees. In the case of leasing land, the value of the land fund for payment is the one-time land rental fee for the entire lease period determined in accordance with the law on collecting land rental fees and water surface rental fees.

b) For the value of assets on the land: It is the market value of the assets as assessed.

2. The value of headquarters for payment of the BT Project is determined at the time the provincial People's Committee issues a decision to transfer land or lease land in accordance with the law on land and remains unchanged from the date the competent authority determines at the time of signing the BT Contract, except in the cases provided for in Clause 3 of this Article.

3. In the event that the competent authority permits adjustment of land use planning and construction planning in accordance with the law leading to changes in the value of headquarters for payment, the following shall be implemented:

a) The adjusted value of headquarters for payment is determined in accordance with the law at the time the competent authority permits adjustment of land use planning and construction planning. The adjusted value is recorded in the Appendix of the BT Contract signed between the parties to the BT Contract.

b) The adjusted value of headquarters for payment recorded in the Appendix of the BT Contract is included in the total value of headquarters for payment to the Investor.

4. The actual value of headquarters for payment is the value of headquarters for payment after being adjusted according to the Appendices of the BT Contracts stipulated in Clause 3 of this Article (if applicable).

Article 10. Procedures for using office premises to settle BT Projects

1. The use of office premises to settle BT Projects shall be carried out in accordance with the provisions of the law on the management and use of state assets and shall be implemented after obtaining approval from the Prime Minister.

The approval document of the Prime Minister includes the following contents: Office premises for settlement; agencies, organizations, units entrusted with the task of signing and implementing BT Contracts; agencies, organizations, units entrusted with implementing investment procedures and signing contracts to implement projects in accordance with the law.

2. Procedures and Formalities

a) For office premises under central management:

- The agency managing state assets of the ministry or central agency shall prepare a proposal to use office premises to settle BT Projects in accordance with point c of this Clause and submit it to the ministry or central agency for review, send a document to the Ministry of Finance for comments on the use of office premises to settle BT Projects, and send it to the People's Committee of the province (where the office premises are located) for comments on land planning and construction planning.

- Based on the opinions of the Ministry of Finance and the People's Committee of the province, the ministry or central agency will consolidate and complete the document and report to the Prime Minister for approval to use office premises to settle BT Projects.

b) For office premises under local management:

The Department of Finance shall prepare a proposal to use office premises to settle BT Projects in accordance with point c of this Clause and report to the People's Committee of the province for submission to the Prime Minister for approval to use office premises to settle BT Projects.

c) The proposal to use office premises to settle BT Projects (applicable to both cases where the office premises are under central management and local management) includes:

- A report on the need and necessity to implement BT Projects and use office premises for settlement; the provisional value of the BT Project and the value of the office premises including the value of land use rights and the value of assets on the land. Among them, the value of land use rights is calculated according to the provisions at point a of Clause 3, Article 5 of this Decree, and the value of assets on the land is temporarily calculated based on the remaining value recorded in accounting books.

- Opinions of the agencies, organizations, units currently managing and using the office premises; superior management agencies of the agencies, organizations, units currently managing and using the office premises (if any).

- Other related documents.

d) Based on the approval document of the Prime Minister, relevant agencies shall carry out the selection of investors through open tendering in accordance with the provisions of the law on bidding, sign BT Contracts, and other contents in accordance with the law on investment and construction and related laws. On this basis, the ministry or central agency (for office premises under central management), the Department of Finance (for office premises under local management) shall request the People's Committee of the province to issue decisions to allocate land or lease land for office premises in accordance with the time specified in Clause 6, Article 3 of this Decree.

The agency managing state assets stipulated in points a and b of this Clause shall organize the determination of the value of assets attached to land and the value of land use rights, send it to the Department of Finance for the Land Valuation Council to review and submit to the People's Committee of the province for approval of the value of office premises to settle for the Investor.

3. Settlement of BT Projects, issuance of Certificates of Title, settlement upon adjustment shall be carried out in accordance with the provisions of Article 7 of this Decree.

Section 3

USE OF INFRASTRUCTURE ASSETS TO SETTLE INVESTORS IMPLEMENTING BT PROJECTS

Article 11. Determining the Value of Infrastructure Assets for Payment in BT Projects

1. The value of infrastructure assets for payment in BT projects is the value of the right to exploit infrastructure assets, determined in accordance with the provisions of laws on the management and use of infrastructure assets and related laws.

2. The value of infrastructure assets for payment in BT projects shall be determined at the time when the competent state agency issues a decision transferring the asset to the Investor and shall not change from the date of determination by the competent state agency; except in cases where the competent state agency permits adjustment in accordance with the provisions of law.

Article 12. Procedures and Formalities for Using Infrastructure Assets for Payment in BT Projects

1. The use of infrastructure assets for payment in BT projects shall be carried out in accordance with the provisions of laws on the management and use of public assets, laws on the management and use of infrastructure assets, and related laws, and shall be implemented after obtaining approval documentation from the Prime Minister.

Approval documentation from the Prime Minister includes the following contents: Infrastructure assets for payment; agencies, organizations, units entrusted with the task of signing and implementing BT contracts; agencies, organizations, units entrusted with implementing investment procedures and signing contracts to implement the project in accordance with the law.

2. Procedures and Formalities

a) For infrastructure assets under central management:

- Agencies, organizations, units, enterprises entrusted with managing infrastructure assets shall prepare a proposal for using infrastructure assets for payment in BT projects in accordance with the provisions of this point and submit it to the Ministry or central agency for review, and send a document to the Ministry of Finance for comments on the use of infrastructure assets for payment in BT projects and to the People's Committee of the province (where the infrastructure assets are located) for comments on land use planning and construction planning.

- Based on the opinions of the Ministry of Finance and the People's Committee of the province, the Ministry or central agency shall compile, complete, and issue a report to the Prime Minister for approval to use infrastructure assets for payment in BT projects.

b) For infrastructure assets under local management:

- Agencies, organizations, units, enterprises entrusted with managing infrastructure assets shall prepare a proposal for using infrastructure assets for payment in BT projects in accordance with the provisions of this point and submit it to the directly superior management agency for review, and send a document to the Department of Finance for comments on the use of infrastructure assets for payment in BT projects.

- Based on the opinions of the Department of Finance, the directly superior management agency of the agencies, organizations, units, enterprises entrusted with managing infrastructure assets shall compile, complete, and issue a report to the People's Committee of the province for submission to the Prime Minister for approval to use infrastructure assets for payment in BT projects.

c) Documentation regarding the use of infrastructure assets for payment in BT projects (applicable to both centrally managed infrastructure assets and locally managed infrastructure assets) includes:

- A document on the need and necessity to implement BT projects to construct new works and use infrastructure assets for payment; the provisional value of the BT project and the value of infrastructure assets for payment in the BT project determined in accordance with Clause 1, Article 12 of this Decree.

- Relevant documentation related to BT projects and infrastructure assets for payment in BT projects.

d) On the basis of the approval documentation from the Prime Minister, relevant agencies shall select investors through open tendering in accordance with the provisions of the law on bidding, sign BT contracts, and other contents in accordance with the provisions of the law on investment and construction and related laws. Based on that, the Ministry or central agency (for centrally managed infrastructure assets), the People's Committee of the province (for locally managed infrastructure assets) shall issue decisions to transfer infrastructure assets in accordance with the time specified in Clause 6, Article 3 of this Decree.

e) Agencies, organizations, units, enterprises managing infrastructure assets shall be responsible for organizing the determination of the value of infrastructure assets for payment in BT projects and submitting it to:

- The Ministry or central agency for approval of the value of infrastructure assets for payment in BT projects (for centrally managed infrastructure assets);

- The Department of Finance to take the lead and coordinate with the superior management agency of the agencies, organizations, units, enterprises managing infrastructure assets and relevant agencies to review and submit to the People's Committee of the province for approval of the value of infrastructure assets for payment in BT projects (for locally managed infrastructure assets).

3. Payment shall be carried out in accordance with the provisions of Article 7 of this Decree.

Section 4

USING OTHER PUBLIC ASSETS FOR PAYMENT TO

THE INVESTOR IMPLEMENTING THE BT PROJECT

Article 13. Determining the Value of Other State Assets for Payment under the BT Project

The determination of the value of other state assets for payment under the BT project shall be carried out in accordance with the provisions of laws on the management and use of state assets, specialized laws, and other relevant laws; ensuring the principles stipulated in Article 3 of this Decree.

Article 14. Using Other State Assets for Payment under the BT Project

1. The use of other state assets for payment under the BT project shall be carried out in accordance with the provisions of laws on the management and use of state assets, specialized laws, and other relevant laws, and shall be implemented after receiving approval documentation from the Prime Minister upon the proposal of the ministry, sector, or locality managing the state assets.

2. The dossier, procedures, and formalities for paying the investor implementing the BT project with other state assets shall be conducted in accordance with the provisions of Article 12 of this Decree.

Section 5

ESTABLISHING BUDGET PROJECTIONS, ACCOUNTING RECORDS, AND SETTLING THE STATE BUDGET

FOR STATE ASSETS USED TO PAY FOR THE BT PROJECT

Article 15. Establishing the State Budget Projection

1. The value of state assets to pay to investors implementing the BT project shall be recorded in the annual state budget projection submitted to the competent authority for decision-making and allocation of the state budget according to the laws on the state budget.

2. The value of state assets to pay to investors implementing the BT project shall be projected as revenue from the value of state assets in the state budget. The value of the BT project shall be projected as expenditure for development investment in the state budget according to the state budget classification.

3. The central budget shall record projections of state budget revenue and expenditure for state assets under central management; local budgets shall record projections of state budget revenue and expenditure for state assets under local management.

Article 16. Accounting Records for State Budget Revenue and Expenditure Related to the Value of State Assets Used for Payment

1. The accounting records for state budget revenue and expenditure related to the value of state assets used for payment to investors implementing the BT project shall be conducted in the form of recording state budget revenue and expenditure.

2. In cases where the BT project has been approved for final settlement

a) In cases where the actual value of state assets used for payment exceeds the value determined in the BT contract, the records shall be made based on the value determined in the BT contract. When the BT investor pays the difference between the value of state assets and the value determined in the BT contract into the state budget, the records shall be made according to the laws on the state budget regarding the value of state assets.

b) In cases where the actual value of state assets used for payment is less than the value determined in the BT contract, the records shall be made for state budget revenue from the value of state assets used for payment and state budget expenditure according to the value determined in the BT contract, in accordance with the laws on the state budget.

3. In cases where the BT project has not yet been approved for final settlement

The records shall be made for state budget revenue from the value of state assets used for payment and provisional state budget expenditure corresponding to the value of state assets already paid for the implementation of the BT project. Upon approval of the final settlement of the BT project by the competent state agency, the records shall be made for the expenditure of the BT project according to the final settlement value and for the records of any differences (if any) according to the provisions of Clause 2 of this Article.

Chapter III

IMPLEMENTATION

Article 17. Forward Processing

1. For BOT Contracts settled with land funds and office spaces for investors implementing BOT projects that were signed in accordance with the law at the time of signing the BOT Contract before January 1, 2018 and have not yet completed payment to the investor, the settlement shall continue to be carried out according to the content of the signed BOT Contract.

In cases where the contents related to settlement are not clearly stipulated in the BOT Contract, the provisions of the Land Law 2013, Investment Law 2014, Construction Law 2014, State Budget Law 2015, Public Asset Management and Usage Law 2017, and other relevant laws effective at the time of settlement shall apply. Specifically:

a) The determination of the value of the BOT Project must comply with the regulations of the laws on investment, construction, and related laws.

b) The use of land funds and office spaces to settle for investors implementing BOT Projects shall be carried out in accordance with the provisions of the Land Law; specifically:

- For land funds and office spaces, they must be consistent with the planning and land use plans approved by competent state agencies.

- For land funds and office spaces that have been compensated and cleared, a report must be submitted to the Prime Minister for consideration and decision.

c) The value of land funds and office spaces for settling for investors implementing BOT Projects must adhere to the principle of equal value; accordingly, the value of land funds and office spaces for settlement must be equivalent to the value of the BOT Project.

d) The value of land funds and office spaces for settling for investors implementing BOT Projects shall be recorded as revenue and expenditure in the state budget in accordance with the regulations of the State Budget Management Law.

2. For BOT Contracts signed from January 1, 2018 to the date this Decree takes effect, which include clauses using public assets for settlement, shall be implemented in accordance with the Land Law 2013, Investment Law 2014, Construction Law 2014, State Budget Law 2015, Public Asset Management and Usage Law 2017, and other relevant laws.

Article 18. Effective Date

1. This Decree shall take effect from October 1, 2019.

2. Decision No. 23/2015/QĐ-TTg dated June 26, 2015 of the Government Chairman on the mechanism for the State to settle with land funds for investors when implementing investment and construction projects under the Build-Transfer model is hereby repealed.

Article 19. Responsibility for Implementation

1. The Ministry of Finance shall be responsible for guiding the use of public assets for settlement for investors implementing BOT Projects.

2. The Ministry of Planning and Investment shall be responsible for guiding Clause 3 of Article 1 of this Decree.

3. Ministries, central agencies, provincial People's Committees shall be responsible for organizing the use of public assets for settlement for investors implementing BOT Projects in accordance with the provisions of the law.