Vietnam’s Circular No. 12/2017/TT-BTC: Eligible funding recipient, conditions for receiving funding, level of funding

14:11, 10/03/2017

Circular No. 12/2017/TT-BTC of the Ministry of Finance of Vietnam provides guidance on the procedures for provision of funding for equipment of environmental protection projects, issued on February 10, 2017, which specifies eligible funding recipient, conditions for receiving funding, level of funding as follows:

1. Eligible funding recipient:

The project investor.

2. Conditions for receiving funding:

To be provided with funding, a project:

- must be run in accordance with provisions in Clause 11 Appendix III, Decree No. 19/2015/ND-CP of Vietnam’s Government;

- must be launched, evaluated, approved or granted the Investment Registration Certificate if one is required by law.

- has been completed, commissioned and has a financial statement; and

- has undergone test run and fulfills all conditions for normal operation.

3. Level of funding:

Funding shall be equal to 10% of the total capital invested in equipment of an environmental protection project according to Project Investor's finalization report which has been approved after being audited by an independent auditing company which is run according to Vietnam’s law.

View more: Circular No. 12/2017/TT-BTC of the Ministry of Finance of Vietnam takes effect from March 27, 2017.

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