On July 12, Deputy Prime Minister Le Minh Khai signed Directive No. 20/CT-TTg of the Prime Minister on rectifying and strengthening the management of advance payment of public investment capital from the state budget of ministries, central agencies and localities.
The Directive clearly states that over the past years, the State management of advance payment of investment capital from the State budget has been gradually strengthened, regulated relatively strictly and institutionalized in legal documents on contract management, management and payment of investment capital from the State budget (including sanctions such as advance payment guarantee, advance payment level, advance payment recovery period, and responsibilities of each entity).
Many long-term advances have not been recovered.
However, there are still cases where the recovery of advanced capital has not received due attention from investors and management agencies, leading to the existence of long-term unrecovered advanced capital balances.
Through monitoring, as of January 31, 2024, the amount of overdue advances from the State budget of ministries, central and local agencies is still relatively large, about 7,454 billion VND (of which ministries and central agencies are about 1,279 billion VND, localities are about 6,175 billion VND), reducing the efficiency of using State budget capital.
In Resolution No. 91/2023/QH15 dated June 19, 2023 of the National Assembly on the 2021 State budget settlement, the National Assembly assigned the Government to: "Strictly manage expenditures transferred from the State budget and thoroughly handle cases of advances exceeding the prescribed deadline for many years".
Rectify and overcome existing problems
To rectify and overcome the shortcomings in the management of the State budget advance capital as in the past, urgently recover the overdue advance balance, and at the same time ensure that the advance capital in the coming time is in accordance with regulations, for the right purpose, for the right subjects and the effective use of the advance capital, not allowing overdue advances to arise, the Prime Minister requests ministries, central and local agencies, based on current legal provisions, to strengthen strict and effective management of the advance capital in accordance with regulations; take responsibility for synthesizing, monitoring and directly instructing investors to properly implement regulations on management and advance capital for public investment from the State budget within the scope of the assigned capital plan; conduct periodic and unscheduled inspections to rectify and handle problems arising during the implementation process of investors.
In case the investment decision maker decides on an advance payment level higher than 30% of the contract value as prescribed in Article 10 of Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government, it must be based on the progress of the contract volume implementation, the project's ability to recover advanced capital, clearly assess the reasons and necessity to increase the advance payment rate and take full responsibility for its decision.
People's Committees at all levels shall direct local financial agencies to coordinate with the control and payment agencies at the same level to review the overdue advance capital (if any), periodically (every 6 months and annually) report to take measures to recover all overdue advance capital as prescribed in Clause 6, Article 10 of Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government.
Strictly and effectively manage and use advance capital for the right purpose.
Ministries, central and local agencies direct investors and project management boards to properly implement current regulations on capital advances.
The amount of advance capital, the time of advance payment, the amount of advance payment recovery each time, and the time of advance payment recovery each time according to regulations must be specifically stated in the contract and must be consistent with the project investment progress, contract implementation progress, and the volume of implementation each year.
The amount of advance capital and the number of advances are specifically determined each year in accordance with the progress of contract implementation in the corresponding year (if any).
For compensation, support and resettlement work: the advance capital level according to the plan, progress of compensation, support and resettlement; the maximum advance capital level as required must not exceed the compensation, support and resettlement plan approved by the competent authority.
Ministries, central and local agencies direct investors and project management boards to review the provisions on capital advances in signed and implemented contracts, ensuring compliance with legal provisions on contract management and advances (procedures for advance guarantees, terms of advance guarantees; terms of advance recovery, etc.); strictly and effectively manage and use advance funds for the right purposes and for the right subjects according to the provisions of the contract.
Closely monitor the validity period of the credit institution's advance payment guarantee to ensure that the validity period of the contract advance payment guarantee must be extended until the investor has recovered all the advance payment.
For ongoing projects with remaining advances that have not been recovered: continue to monitor and urge units to promptly implement and accept completed volumes to recover advanced capital, ensuring full recovery when the disbursement value reaches 80% of the contract value (except in cases where the competent authority allows a higher advance).
For overdue advances: review and specifically evaluate the cause of each overdue advance; determine the collective and individual responsibilities for repayment; propose solutions to thoroughly and resolutely implement, ensuring the recovery of all overdue advances (including measures to file a lawsuit in court, transfer to inspection agencies, police).
The State Bank of Vietnam is responsible for directing the Banking Inspection and Supervision Agency under the State Bank of Vietnam to preside over and coordinate with relevant units to conduct inspections, supervisions of guarantee operations of credit institutions and foreign bank branches and handle violations arising under its authority as prescribed in Article 34 of Circular No. 11/2022/TT-NHNN dated September 30, 2022 of the State Bank of Vietnam regulating bank guarantees.
Inspection of overdue investment capital advances
The Ministry of Finance is responsible for periodically (every 6 months and every year) urging ministries, central and local agencies to take measures to recover overdue advance capital for projects managed by ministries, central and local agencies according to regulations.
At the same time, the Ministry of Finance directed the State Treasury to coordinate with investors to inspect the advanced capital to recover unused or improperly used backlogs; inspect the advanced balance to ensure the recovery of all advanced capital as prescribed in Clause 6, Article 10 of Decree No. 99/2021/ND-CP dated November 11, 2021 of the Government on management, payment and settlement of projects using public investment capital.
The Government assigned inspection agencies at all levels to study and plan inspections of cases of overdue advance investment capital that have not been recovered from the State budget.
TH (according to Vietnam+)Source: https://baohaiduong.vn/thu-tuong-yeu-cau-chan-chinh-tang-cuong-quan-ly-tam-ung-von-dau-tu-cong-387219.html
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