What are regulations on revision of total construction investment in Vietnam?

What are regulations on revision of total construction investment in Vietnam?

Pursuant to Article 9 of the Decree 10/2021/NĐ-CP stipulating revision of total construction investment in Vietnam as follows:

1. Approved total construction investment shall be revised according to Clause 5 Article 134 of Law on Construction and Point dd Clause 18 Article 1 of Law on amendments to Law on Construction.

2. Total construction investment for revision includes revised total investment and unrevised total investment. Details related to total construction investment for revision must be appraised according to Article 7 of this Decree. Entitlement for appraisal and approval of revised total construction investment shall conform to regulations on entitlement for appraisal and approval of revised projects under Decree on elaborating to regulations on management of construction investment projects.

What are regulations on appraisal of total construction investment in Vietnam?

Pursuant to Article 7 of the Decree 10/2021/NĐ-CP stipulating appraisal of total construction investment in Vietnam as follows:

1. Appraisal of total construction investment is a detail within construction investment feasibility reports, construction investment economic-technical reports. Entitlement for appraisal of total construction investment is implemented according to Law on Construction and Decree on elaborating to management of construction investment projects.

2. Details for appraisal of total construction investment performed by agencies specialized in construction under Point g Clause 2 Article 58 of Law on Construction and amendments thereto under Clause 15 Article 1 of Law on amendments to Law on Construction are follows:

a) Adequacy and legitimacy of application for appraisal of total construction investment; legal basis for determining total construction investment;

b) Conformance of total construction investment to approved total preliminary investment; methods of determining total construction investment;

c) Conformance of total construction investment under Article 5 of this Decree to project contents and requirements;

d) Compliance with regulations and law on application, reference of construction norms systems, construction prices, other necessary tools issued by regulatory authorities, and application, reference of cost-related data of similar projects, constructions to determine total construction investment.

3. Details for appraisal of total construction investment performed by agencies, organizations or individuals authorized by investment deciders under Point a Clause 3 Article 56 and Point d Clause 1 Article 57 of Law on Construction and amendments thereto under Clauses 13 and 14 Article 1 of Law on amendments to Law on Construction are as follows:

a) Adequacy and legitimacy of application for appraisal of total construction investment; examination of inspection results of total construction investment of consulting organizations (if any);

d) Results of finalization and revision of application for appraisal of total construction investment based on recommendations of agencies specialized in construction under Clause 2 of this Article (if any) and explanations;

c) Conformance and adequacy of determination of quantity or scale, capacity or capability serving calculation in total construction investment compared with fundamental design of projects;

d) Determine total construction investment to guarantee adequacy, legitimacy and conformance with design, construction conditions, market price and project execution plans;

dd) Analyze reasons of increase, decrease and assess investment effectiveness assurance of projects based on total construction investment which is determined post-appraisal.

4. For projects utilizing non-public investment state capital not specified under Points c Clause 1 Article 58 of Law on Construction and amendments thereto under Clause 14 Article 1 of Law on amendments to Law on Construction, investment deciders shall appraise details under Clauses 2 and 3 of this Article.

5. For projects that require only construction investment economic-technical reports, investment deciders shall appraise details under Clauses 3 and 4 Article 13 of this Decree.

6. Inspection serving appraisal of total construction investment shall comply with regulations on inspection serving project appraisal under Decree on elaborating to regulations on management of construction investment projects.

7. Costs for organizations and individuals participating in appraisal extracted from fees, charges for appraising construction investment feasibility reports.

8. Ministry of Construction shall regulate fees for appraising and examining construction investment feasibility reports, construction investment economic-technical reports. Ministry of Finance shall prescribe fees for appraising construction investment projects.

What are regulations on approval of total construction investment in Vietnam?

Pursuant to Article 8 of the Decree 10/2021/NĐ-CP stipulating approval of total construction investment in Vietnam as follows:

1. Approval of total construction investment is specified under decisions on construction investment. Entitlement for deciding on construction investment shall conform to Article 60 of Law on Construction and amendments thereto under Clause 17 Article 1 of Law on amendments to Law on Construction.

2. Approved total constructions investment refers to the maximum cost for executing construction investment projects.

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