Forms of fundraising and receiving funding from the Cooperation and Development Fund in Vietnam

Forms of fundraising and receiving funding from the Cooperation and Development Fund in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Fundraising and receiving funding from the Cooperation and Development Fund in Vietnam

- The Fund is entitled to mobilize donations and sponsors at home and abroad in order to achieve its operational objectives in accordance with the Fund's Charter and the provisions of law.

- Funds from donations and sponsorships from domestic and foreign individuals and organizations for the Fund must be immediately remitted to the Fund in accordance with the State's current regulations and the Fund's Charter on financial revenues and expenditures; and update online so that the public and sponsors can check and monitor.

- Fundraising abroad, within the whole country or in a province or city directly under the Central Government must have a plan and be approved in writing by the Ministry of Home Affairs.

- The organization of mobilizing contributions to support the overcoming of difficulties is only done when natural disasters, fires, serious incidents cause great damage to people and property of the people. The Chairman of the Fund Management Council shall decide to organize contributions and mobilization campaigns to overcome difficulties and must report it to competent state agencies and the Vietnam Fatherland Front.

(Article 14 Charter of Cooperation and Development Fund issued together with Decision 784/QD-BNV in 2011)

2. Forms of fundraising and receiving funding from the Cooperation and Development Fund in Vietnam

Principles and forms of fundraising and receiving funding from the Cooperation and Development Fund are as follows:

- Fundraising activities of individuals and organizations must be based on the principle of voluntariness with kindness. forcing individuals and organizations to perform.

- The donation, receipt, management, and use of money and kind from individuals and organizations contributing to the Fund's activities must be public, transparent, and subject to inspection, examination, and supervision according to regulations of the Law.

- Content must be public and transparent, including purposes of fundraising, sponsorship, results of fundraising, sponsorship, use, results of use, and a settlement report.

- Forms of publicity include:

+ Publicly posting at the places where donations and sponsorships are received and places where aid and relief are received;

+ Announcement on the mass media;

+ Providing information at the request of agencies, organizations, and individuals as prescribed by law.

(Article 15 of the Charter of the Cooperation and Development Fund issued together with Decision 784/QD-BNV in 2011)

3. Tasks and powers of Cooperation and Development Fund in Vietnam

- Developing plans and implementing activities for the purpose of sponsoring and supporting the community in order to eliminate hunger and reduce poverty and sponsor other programs and projects for social, humanitarian, and charitable purposes.

- Fundraising, and sponsorships for the Fund; receiving legal assets sponsored by individuals and organizations at home and abroad in accordance with the Fund's principles and purposes and in accordance with law.

- Implementing activities in an open and transparent manner, with quarterly and annual activity programs.

- Cooperating with domestic and foreign agencies and organizations in accordance with the provisions of the law and in accordance with the functions and tasks of the Fund.

- Organizing other services and activities in accordance with the law to preserve and grow the Fund's assets.

- Using assets and finance in accordance with the principles and purposes of the Fund and implementing accounting, auditing, and statistical regimes in accordance with law.

- Exercising other rights and perform other obligations as prescribed by law.

(Article 5 of the Charter of the Cooperation and Development Fund promulgated together with Decision 784/QD-BNV in 2011)

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