Recover and prevent new overdue public investment capital advances from arising.

Advance debts of public investment projects must be recovered. Photo: TAM CA

The Provincial People's Committee requests investors to quickly review overdue advance debts, coordinate with the Provincial State Treasury (KBNN) and the State Treasury where the transaction takes place to establish procedures to refund projects with completed volume. If there is no volume, it will be recovered and returned to the state budget. Resolutely handle overdue advance debts for public investment capital, not allowing new overdue advance debts to arise.

Investors shall specifically classify overdue advances for collection and handling. If it is determined that they cannot be collected, propose handling measures. Specifically, transfer the responsibility for handling the collection to the Provincial Inspectorate, and propose handling measures for projects that cannot be recovered because the contractor is no longer operating, has no assets, and is not yet in a position to enforce the judgment.

Investors assign specific tasks to individuals and groups to closely monitor the advance payment of public investment capital, the recovery of advance payment, and the recovery period of advance payment in accordance with regulations. Proceed to set criteria for emulation, rewards, year-end review, and cut down on additional income for related individuals who do not properly and well manage the advance payment of public investment capital.

The State Treasury is responsible for closely monitoring and urging investors to comply with regulations on recovering advanced capital, checking advanced capital, immediately recovering unused or improperly used amounts, and recovering all advanced capital according to regulations.

The State Treasury proactively reviews the list of contractors who both owe overdue public investment advances for projects and have payment volumes for other projects in the area, providing information for investors to work with contractors to agree on a deduction plan.

The Department of Planning and Investment shall preside over and coordinate with the Department of Finance to advise and report to the Provincial People's Committee to consider sanctions in bidding for works and projects in the province. Reduce investment capital... for contractors with overdue advance balances, but do not coordinate to recover capital...

Source: https://baoquangnam.vn/thu-hoi-va-khong-de-phat-sinh-moi-no-tam-ung-von-dau-tu-cong-qua-han-3137556.html