The Ministry of Planning and Investment promulgates Circular No. 05/2023/TT-BKHDT on investment supervision and assessment report forms; online reporting regime and management of operation of the information system for supervision and assessment of investment in programs and projects using state capital (“Circular No. 05”) on June 30, 2023, which takes effect from September 1, 2023. The issuance of a new circular regarding supervision and assessment reports of investment projects has provided the basic legal basis for investors and other related subjects to apply in the implementation process of investment projects.
- The practical and legal basis for promulgating Circular No. 05
Currently, the promotion for economic development can be considered one of the vital missions of our country. This goal has been conducted through diverse methods including the implemention of various investment projects. According to the General Statistics Office, the investment capital in the first 9 months of 2023 has been estimated to reach 2,260.5 trillion VND, which increases by 5.9% compared with the corresponding period in 2022[1]. This figure can reveal that there is the development of investment projects in Vietnam. The above reality has required a legal system that strictly regulates issues related to investment supervision and assessment reports.
In the Vietnamese legal system, the implementation of investment supervision and assessment reports has been adjusted by the provisions of many different Laws and Decrees. Specifically, Article 72 of the Investment Law 2020 stipulates the monthly and annual reporting obligations of investors and economic organizations implementing investment projects on the National Investment Information System. Decree 29/2021/ND-CP dated March 26, 2021 of the Government (“Decree 29”) indicates the types of investment supervision and assessment reports that each group of investors needs to implement. However, the provisions in these Law and Decree only mention the content and procedures for implementing the investment supervision and assessment reports without the equivalent form of report.
In general, the reality of developing investment projects as well as the lack of legal provisions in the form of investment supervision and assessment reports impose a requirement for detailed legal documents regarding investment supervision and assessment reports. In the above context, Circular No. 05 has been issued to regulate investment supervision and assessment report forms; online reporting regime and management of operation of the information system for supervision and assessment of investment in programs and projects using state capital.
- The basic content of Circular 05/2023/TT-BKHDT
Circular No. 05 includes some notable contents as follows:
First, this Circular provides 19 forms of investment supervision and assessment reports which are classified according to subjects in each specific period of the project. Specifically includes:
- Annual investment supervision and overall evaluation report form (Form No. 01);
- Supervision and assessment forms for public investment projects and non-public investment projects using state capital (Form No. 02, 03, 04, 05, 06, 07, 08, 09, 10);
- Supervision and assessment forms for investment projects according to the Public - Private Partnership method (Form No. 11, 12, 05);
- Supervision and assessment forms for investment projects using other capital sources (Form No. 13, 14, 15, 16, 17, 18);
- Supervision forms for investment of community (Form No. 19).
In addition, Circular No. 05 stipulates online reporting and management of operation of the information system for supervision and assessment of investment in programs and projects using state capital. Specifically, project developers and component project developers are responsible for updating program and project information according to the Decision on investment guidelines and the Decision on investment in the System within 7 working days from the date on which investment guidelines and investment decisions are approved and during the period of project implementation. This Circular also mentions the responsibilities of relevant Ministries, Departments and Agencies in managing and operating the information system of investment supervision and assessment.
[1] General Statistics Office. (2023). The implementation of social investment capital in 9 months of 2023.
