Decentralization and complete delegation of authority in implementing BT projects

The announcement stated: Law No. 57/2024/QH15 amending and supplementing a number of articles of the Law on Investment under the Public-Private Partnership (PPP) method has added regulations on the BT contract type with the aim of comprehensively innovating the implementation and payment methods for investors, maximally overcoming the shortcomings and obstacles in implementing the previous BT contract type to add a channel to effectively mobilize resources from the private sector, helping to reduce pressure on public investment capital for the development of the national infrastructure system. The Ministry of Finance has chaired the drafting of a Decree detailing the implementation of projects applying the Build-Transfer (BT) contract type. To date, the draft Decree has been consulted with members of the Government, and the majority of members of the Government agree with the entire content of the draft Decree. The Ministry of Finance has received and explained the opinions of Deputy Prime Minister Ho Duc Phoc and members of the Government.

Policies and regulations must ensure harmonious benefits and shared risks between the state and investors.

The Government Standing Committee assigned the Ministry of Finance to continue reviewing and maximally absorbing the opinions of Government members and opinions at the Government Standing Committee meeting, perfecting the draft Decree, ensuring transparency, in the spirit of creating development, serving people and businesses, in which the following principles are thoroughly understood:

Thoroughly decentralize and delegate authority in implementing BT projects, including reviewing and carefully studying relevant laws, proposing amendments, increasing the scale and criteria of important national projects so that specific BT projects do not have to be submitted to the National Assembly for investment policy decisions, ensuring compliance with state management principles and assignment of tasks among the system of agencies.

Along with promoting decentralization and delegation of power, it is necessary to study and supplement regulations as effective management, monitoring and inspection tools according to the post-audit principle. Policies and regulations must ensure harmonious benefits and risk sharing between the state and investors.

Projects established by competent authorities or projects proposed by investors must be appraised by competent authorities in accordance with relevant legal regulations for the sector and field of the BT project. Payments need to be regulated to be able to flexibly make payments in cash and by land funds. At the same time, payment must be strictly controlled to prevent loss, waste, and negativity, especially in determining land prices.

The Government Standing Committee assigned Deputy Prime Minister Ho Duc Phoc to direct the completion of the draft.

Source: https://hanoimoi.vn/phan-cap-phan-quyen-triet-de-trong-trien-khai-thuc-hien-cac-du-an-bt-712713.html