Law on Public Investment 2019 promulgating 11 Prohibited Acts in Public Investment

Illustration (source: internet)

Article 16 of the Law on Public Investment 2019 prohibits agencies, units, organizations, and individuals participating in or related to public investment activities, management, and use of public investment capital from committing the following acts:

- Deciding on investment policies that do not align with strategies, plans, or are without defined capital sources and funding capabilities; acting without proper authority, procedure, or legal process.- Approving investment in programs and projects without the authorized decision on investment policy or in violation of the content regarding objectives, scope, scale, exceeding the total investment capital as approved; approving adjustments to the total investment capital of programs or projects contrary to the public investment law.- Abusing position or authority to embezzle, profit, or indulge in corruption in managing and using public investment capital.- Project owners colluding with consulting organizations and contractors, leading to decisions on investment policy or project investments that cause loss and waste of the State's capital, assets, and national resources; infringe upon the legitimate rights and interests of citizens and the community.- Giving, receiving, or brokering bribes.- Requiring organizations or individuals to invest their own capital in programs or projects that have not been approved, leading to basic construction debts.- Misusing public investment capital for incorrect purposes, beyond the regulated standards and norms.- Forging or falsifying information, files, documents related to investment policy decisions, investment approvals, and project implementation.- Intentionally reporting or providing untruthful, dishonest, or biased information affecting the formulation, appraisal, decision-making, monitoring, evaluation, inspection, and handling of violations in program and project implementation.- Willfully destroying, deceiving, concealing, or inadequately storing materials, documents, files related to investment policy decisions, investment approvals, and project implementation.- Obstructing the discovery of legal violations in public investment.

For more regulations, see the Law on Public Investment 2019, effective from January 1, 2020.

Thu Ba

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