Revenues from Project Management Activities Using Foreign Budget Funds

Circular 72/2017/TT-BTC was issued by the Ministry of Finance on July 17, 2017, listing the revenues from project management activities using foreign budget capital.

Circular 72 stipulates the revenue sources from project management activities of project investors and PMBs as follows:

- Revenue from project management costs included in the total investment of projects assigned to manage and implement according to the decision of the competent authority. This funding is determined by either estimating the budget or applying the project management cost norms as regulated by the Ministry of Construction.- Revenue from fees deducted and retained from performing project management tasks such as: organizing the appraisal of basic design, construction design; appraising construction estimates and other activities according to current regulations.- Revenue of specialized PMBs, regional PMBs from providing consultancy services to project investors and other PMBs, such as: managing projects on behalf of other investors; organizing contractor selection, supervising construction, equipment installation, appraising and verifying designs, estimates, and other consultancy activities. The revenue level is based on signed contracts, in compliance with legal regulations.- Revenue from organizing the implementation of compensation, support, and resettlement tasks (excluding the cost of organizing the land clearance belonging to the investor's responsibility which has been calculated in the project management cost as assigned under the Ministry of Construction’s regulations);- Revenue from the task of managing and maintaining projects after completion by regional PMBs, specialized PMBs.- Other lawful revenues according to legal regulations. These collections are not included in the investment costs of projects assigned for management.

Note, if a PMB is assigned by the competent authority to act as the state authority responsible for preparing and implementing investment projects in the form of public-private partnership (PPP), the budgeting, payment, and settlement of preparation and implementation costs of PPP projects are carried out according to legal regulations on financial management for PPP projects and investor selection costs.

See details Circular 72/2017/TT-BTC effective from September 15, 2017.

-Thao Uyen-

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