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THE
PRIME MINISTER OF GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
231/1999/QD-TTg
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Hanoi,
December 17, 1999
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DECISION
RATIFYING THE ORGANIZATION AND OPERATION CHARTER OF THE
DEVELOPMENT ASSISTANCE FUND
THE PRIME MINISTER
Pursuant to the September 30, 1992 Law on
Organization of the Government;
Pursuant to the Government’s Decree No.43/1999/ND-CP of June 29, 1999
on the State’s
development investment credit;
Pursuant to the Government’s Decree No.50/1999/ND of July 8, 1999 on
organization and operation of the Development Assistance Fund;
At the proposals of the Finance Minister and the chairman of the Management
Board of the Development Assistance Fund,
DECIDES:
Article 1.- To ratify
the Organization and Operation Charter of the Development Assistance Fund
issued together with this Decision.
Article 2.- This
Decision takes effect as from January 1st, 2000.
To annul Decision No.462/TTg of July 9, 1996 on
ratification of the Charter of the National Investment Support Fund and
Decision No.82/1998/QD-TTg of April 15, 1998 of the Prime Minister amending the
Charter of the National Investment Support Fund from the date this Decision takes
effect.
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The ministers, the heads of the
ministerial-level agencies, the heads of the agencies attached to the
Government and the presidents of the People’s Committees of the provinces and
centrally-run cities shall have to implement this Decision.
FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER
Nguyen Tan Dung
CHARTER
ON ORGANIZATION AND OPERATION OF THE DEVELOPMENT ASSISTANCE
FUND
(Issued
together with the Prime Minister’s Decision No. 231/1999/QD-TTg of December
17, 1999)
Article 1.- The
Development Assistance Fund is established, organized and operating under
Decree No.50/1999/ND-CP of July 8, 1999 of the Government on organization and
operation of the Development Assistance Fund and relevant legal documents
currently in force.
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Article 2.- The
Development Assistance Fund (hereafter referred to as Fund for short) is a
State financial organization which implements the State’s policy of development investment support
through provision of loans to and recovery of debts from investment projects; guarantees
loans for investors; re-guarantees and undertakes the re-guarantee for
investment funds; provides post-investment interest rate support for
preferential projects of various economic sectors of a number of branches,
domains, major economic programs of the State and difficult regions where
investment should be encouraged. The Fund is entitled to receive the State
budget capital, loan capital and foreign aid of the Government; to mobilize
medium- and long-term capital of various economic sectors and foreign capital;
and to organize the payment to clients having direct ties with the Fund’s
operations.
The Fund shall perform a number of other tasks
assigned by the Prime Minister.
Article 3.- The Fund’s
operation is not for the benefit purpose, but must ensure the recovery of
capital and the coverage of expenses. The Fund is exempt from taxes and State
budget remittances in order to reduce the lending interest rates and guarantee
charges. The Fund is subsidized by the State budget for the interest rate differences,
allocated capital in support of post-investment interest rates, is subsidized
for risks incurred due to objective causes when providing investment loans
and/or investment credit guarantee.
Article 4.- The Fund has
the legal person status, conducts concentrated accounting, has its charter
capital, the accounting balance sheet, its own seal and may open accounts at
the State Treasury system, domestic and foreign banks. The Fund is
head-quartered in Hanoi capital. The Fund follows the financial regime
submitted by the Finance Minister to the Prime Minister for decision.
Article 5.- The Fund’s
organizational structure
1. The Fund’s organizational apparatus consists of:
The Management Board, the Control Board and the executive body.
2. The Fund’s executive body consists of:
a) The apparatus assisting the Management Board
and the general director at the head-office;
b) The Fund’s branches in provinces and centrally-run
cities;
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Chapter II
OPERATING CAPITAL SOURCES
Article 6.- The Fund’s
charter capital at the time of its establishment is 3,000 billion dong (three
thousand billion dong) allocated by the State budget, including:
1. The charter capital already allocated by the
State budget to the National Investment Support Fund.
2. The State budget allocations added annually
till the charter capital reaches the prescribed level.
The change of the charter capital level shall be
proposed by the Fund’s
Management Board and submitted by the Finance Minister to the Prime Minister
for decision.
Article 7.- Sources of
mobilized and received capital of the Fund
1. Capital allocated annually by the State
budget for the objectives:
a) To increase the source of investment loan
capital;
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c) To support post-investment interest rates;
d) To fulfill the guarantee obligations (if any).
2. Capital mobilized by the Fund:
a) Borrowing from various funds: Accumulation
for Foreign Debt Payment, Postal Savings and sources of temporarily idle capital
of Vietnam Social Insurance;
b) Receiving sources of capital from economic
organizations for investment under the State plans (including basic
depreciation capital and investment funds);
c) Other sources of mobilized capital as
prescribed.
3. Capital from recovery of the principals of
domestic loans lent by the Fund.
4. Capital from the issuance of Government bond.
5. All the Government’s foreign loans and aid re-lent to
development investment projects under the authorization of the Finance Minister
(except for loans to implement credit programs of the commercial banks).
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7. Other sources.
Chapter III
ELABORATION AND
ASSIGNMENT OF PLANS
Article 8.- Plans for
investment loans, post-investment interest rate support and investment credit
guarantee constitute part of the State’s development investment plan, which, by
the Prime Minister’s
decisions, shall be assigned annually to the Fund in term of capital sources,
the total capital amount, the list of Group A projects and the levels of
capital to be lent thereto in forms of investment support and according to the
structure of branches, fields and/or economic regions.
Article 9.- Annually,
the Fund shall elaborate and report to the Ministry of Planning and Investment
and the Finance Ministry the following plans:
1. The plan on the total development investment
credit capital of the State in support form (investment loan, post-investment
interest rate support, investment credit guarantee) and under branch, field
and/or region structures; the plan on repayment of principals and interests of
mobilized credit loan capital.
2. The plan on capital sources including:
a) The State budget capital allocated to the Fund’s
charter capital;
b) The State budget capital allocated for the
achievement of targets as defined in Clause 1, Article 7 of this Charter;
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d) The capital mobilized from other sources.
3. Annually, the Fund shall have to balance the
capital sources and demands for development investment credit capital of the
State; the mobilization of capital from various sources at high interest rates
must ensure the principle that the mobilization shall be effected only after
making the fullest use of non-interest capital sources or at low interest
rates. The Fund shall be subsidized for the interest rate differences and the
subsidy level shall be determined on the basis of the combined interest rate of
all capital sources under the plan ratified by the Government with the
prescribed lending interest rates and collectible charges. This money amount
shall be included in the annual State budget expenditure estimate in support of
investment.
Article 10.- Within 30
days after the Prime Minister decides to assign the development investment
credit plan to the Fund, the Fund shall have to notify in writing the State’s
development investment credit plan to the ministries, the People’s
Committees of the provinces and centrally-run cities and the concerned
organizations.
Article 11.- Within 30
days after receiving the Fund’s notices, the ministries, the People’s
Committees of the provinces and centrally-run cities and concerned
organizations shall have to register their plans with the Fund. The supplement
to and adjustment of the annual plan shall be made once in the third quarter of
that year.
Article 12.- The
projects to be included in the plan for investment capital loans,
post-investment interest rate support and/or investment credit guarantee must
fully meet the conditions prescribed in Decree No.43/1999/ND-CP of June 29,
1999 on development investment credit of the State and the Investment and
Construction Management Regulation issued together with Decree No.52/1999/ND-CP
of July 8, 1999 of the Government.
Chapter IV
OPERATIONS OF
DEVELOPMENT ASSISTANCE FUND
Section I. INVESTMENT LOAN
PROVISION
Article 13.- The
subjects, conditions, lending terms and interest rates, dossiers and procedures
for capital loans, loan security, loan debt repayment, adjustment of debt
payment schedule shall comply with the provisions of Decree No.43/1999/ND-CP of
June 29, 1999 on the State development investment credit.
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1. The amount of capital lent to Group A
projects shall comply with the Prime Minister’s decisions.
2. The amount of capital lent to Group B and C
projects shall comply with the provisions of the Domestic Investment Promotion
Law (amended); more concretely as follows:
a) For investment projects on removal of
production establishments from cities, ecological and environmental
improvement, urban sanitation, the capital lending level may be up to 70% of
the total investment capital;
b) For investment projects in localities
confronted with difficult socio-economic conditions and other provinces as well
as cities, the capital lending level may be up to 50% of the total investment
capital;
c) For investment projects in localities
confronted with particularly difficult socio-economic conditions and producing
goods for export, the capital lending level may be up to 70% of the total
investment capital.
Article 15.- Competence
to decide loan provision
1. The Fund’s general director decides or authorizes
directors of the Fund’s
branches to decide loan provision for projects eligible for capital borrowing
as stipulated in Decree No.43/1999/ND-CP of June 29, 1999 on the State
development investment credit and in this Charter.
2. Projects which go beyond the provisions of
Decree No.43/1999/ND-CP of June 29, 1999 on the State development investment
credit and the provisions of this Charter, the Fund�s Management Board
shall report them to the Prime Minister for consideration and decision.
Article 16.- Risks and
handling risks
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a) If due to changes in the State policies or
abnormal fluctuation of domestic and foreign market prices beyond anticipation
in the feasibility projects which make the investors meet with difficulties in
repaying their loan debts, they shall be considered for debt extension, loan
interest exemption or reduction, debt freezing;
b) If due to natural calamities, fire or
unexpected accidents, which cause property losses with certification by
competent State bodies, the investors are unable to pay their debts, the
investors shall have to transfer the entire insurance indemnity amounts (if
any) to the Fund; the remainder shall be considered for partial or full debt
remission. Where they are still capable of paying their debts, Point (a) of
this Clause shall apply.
2. The risk coverage amount defined in Clause 1,
this article, shall be taken from the Fund’s risk reserve fund. The risk reserve fund
is calculated being equal to 2% of the total annual loan interest and accounted
into the professional expenses of the Fund. Where the risk reserve fund is not
enough to offset the risks, the Fund’s Management Board shall report it to the
Finance Minister for further report to the Prime Minister for consideration and
decision.
3. Competence to handle risks:
a) The Prime Minister shall decide debt freezing
or remission for projects which borrow the State’s development investment credit capital,
at the proposals of the Fund’s Management Board and the Finance
Minister;
b) The Fund’s Management Board shall decide the loan
interest exemption or reduction for projects which borrow the State�s
development investment credit capital, at the proposal of the Fund’s
general director;
c) The Fund’s general director shall decide debt
extension for projects which borrow the State’s development investment credit capital.
The maximum extension duration is equal to 1/3 of the debt payment duration
inscribed in the credit contract.
Article 17.- The Fund
may entrust credit institutions to provide loans and recover debts with regard
to a number of projects of subjects eligible to borrow the Fund’s
capital through entrusting contacts between the Fund and the credit
institutions. The entrusted credit institutions are entitled to service charges
calculated on loan debit balance, excluding the overdue debt balance and the
frozen debt balance under the decisions of the competent authorities. The
service charge levels shall be agreed upon and inscribed in the entrusting
contracts.
Article 18.- The Fund
may take the entrustment to provide loans, recover debts and/or allocate
investment capital to programs and/or projects from domestic and foreign
organizations, and investment funds through entrustment-taking contracts
between the Fund and the entrusting organizations. The Fund shall be entitled
to service charges calculated on the loan debt balance, excluding overdue debt
balance and frozen debt balance by decisions of the competent authorities. The
service charge levels shall be agreed upon and inscribed in the entrusting
contracts.
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Article 19.- The
subjects, scope and conditions for post-investment interest rate support and
the order and procedures therefor shall comply with the provisions of Decree
No.43/1999/ND-CP of June 29, 1999 on the State development investment credit.
Article 20.- The source
of capital for post-investment interest rate support shall be included in the
development investment expenditure estimate of the annual State budget; if at
the end of the year, it is not yet used, it shall continue to be used for
post-investment interest rate support according to the signed contracts.
Article 21.- The Fund
shall be allocated capital by the State budget for post-investment interest
rate support according to the tempo of allocation of interest rate support
money to investors.
The Fund shall have to make the final account
settlement with the Finance Ministry regarding the post-investment interest
rate support amounts actually received and actually allocated to investors.
Section III. INVESTMENT
CREDIT GUARANTEE
Article 22.- The
guarantee subjects and conditions, the guarantee duration and the dossiers of
application for guarantee shall comply with the provisions of Decree
No.43/1999/ND-CP of June 29, 1999 on the State development investment credit.
Article 23.- The
guarantee levels.
1. The guarantee capital level for Group A
projects shall comply with the Prime Minister’s decisions.
2. The guarantee capital levels for Group B and
C projects shall comply with the provisions of the Domestic Investment
Promotion Law (amended). Concretely as follows:
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b) Projects on investment in areas confronted
with particularly difficult socio-economic conditions are entitled to the
guarantee level of up to 80% of the loan for investment;
c) Other investment projects are entitled to the
guarantee level of up to 50% of the loan for investment.
For areas meeting with difficult or particularly
difficult socio-economic conditions, the provisions of the Government’s
Decree No.51/1999/ND-CP of July 8, 1999 detailing the implementation of the
Domestic Investment Promotion Law (amended) shall apply.
Article 24.- The
competence to decide the investment credit guarantee
1. The Fund’s general director shall decide or
authorize the directors of the Fund’s branches to decide the guarantee for
projects satisfying the guarantee conditions as prescribed by Decree
No.43/1999/ND-CP of June 29, 1999 on the State development investment credit
and the provisions of this Charter.
2. For projects which go beyond the provisions
of Decree No.43/1999/ND-CP of June 29, 1999 on the State development investment
credit and the provisions of this Charter, the Fund’s Management Board shall report them to
the Prime Minister for consideration and decision.
Article 25.- The
guaranteed investors shall have to pay the Fund a sum of guarantee charge equal
to 0.5%/ year of the guaranteed money amount. If the guaranteed investors delay
the payment of such charge to the Fund, they shall be subject to a fine for
late payment, equal to 1%/month of the late paid charge amount. The investors
may use the following sources to pay for the guarantee charge:
a) For investment projects on production
expansion, renovation of technologies and equipment, the investors may use the
lawful capital sources of the enterprises to pay for the guarantee charge;
b) For investment projects on establishment of
new enterprises, the guarantee charges shall be calculated in the total
investment of the projects.
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Article 27.- The total
annual credit guarantee amount of the Fund is at most five times the guarantee
reserve source. Where the guarantee exceed the above-prescribed level, it must
be permitted by the Prime Minister.
Article 28.-
Re-guarantee and taking re-guarantee
1. The Fund shall provide re-guarantee and take
re-guarantee for investment funds with regard to projects borrowing development
investment capital.
2. The levels of re-guarantee provided and taken
shall be agreed upon between the Fund and the investment funds.
3. The capital sources for taking re-guarantee
and the total taken re-guarantee amount shall be calculated in the guarantee capital
sources and the total guarantee amount of the Fund.
Chapter V
RIGHTS AND OBLIGATIONS
OF THE DEVELOPMENT ASSISTANCE FUND
Section I. RIGHTS OF THE
DEVELOPMENT ASSISTANCE FUND
Article 29.- The Fund
is entitled to manage and use the capital, land, property and other resources
assigned by the State according to the provisions of law in order to achieve
the objectives and fulfill the tasks assigned by the State.
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1. To organize a managerial and executive
apparatus suited to the objectives and tasks assigned by the State.
2. To set up branches and/or transaction bureaus
at home and abroad according to the provisions of law.
3. To be entitled to recruit, hire, employ,
train, promote, raise wages for, officials and employees within the Fund’s
system. To pay wages, bonuses, allowances and other benefits to the laborers
according to the provisions of the Labor Code and other provisions of law.
4. To be entitled to cooperate with foreign
countries and/or international organizations involved in the operations of the
Fund. To decide the sending of officials and employees of the Fund abroad for
working missions, study, survey tours. For the chairman of the Management Board
and the general director, such must be permitted by the Prime Minister.
Overseas trips of deputy general director(s) and other titles in the assisting
apparatus shall be decided by the general director. For the chairman and other
members of the Control Board, it shall be decided by the chairman of the
Management Board.
Article 31.- Organizing
the work of accounting, financial settlement and management of the Fund.
1. To organize the accounting work according to
the Ordinance on Statistics and Accounting and other provisions of law.
2. To open accounts for customers and effect the
payment transactions related to the Fund’s operations.
3. To conduct treasury transactions within the
system and provide treasury services for customers.
4. To organize the internal payment and join the
banks’
payment system according to the current regulations.
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Article 32.- The Fund’s
rights towards investors
1. To assess the financial plans and debt
payment plans of investment projects which borrow the development investment
credit capital of the State.
2. To refuse and propose to the levels competent
to decide the investment the provision of loan, the post-investment interest
rate support and/or the investment credit guarantee for projects which are
ineligible for the development investment support of the State and inefficient
and which fail to meet the conditions as stipulated by the Government for the
development investment credit of the State.
3. To request investors to supply information on
the production, business, financial and credit situation of the enterprises. To
be entitled to inspect the implementation of projects and matters related to
the management and use of the State’s development investment support capital.
If detecting that investors breach the credit contracts, the interest rate
support contracts and/or the guarantee contracts, the Fund is entitled to
refuse or suspend the loan provision, cancel contracts, recover loan capital
and at the same time report them to the agencies competent to decide the
investment and concerned bodies for handling measures according to law.
4. To initiate lawsuit to the competent
authorities for settlement according to law or to lodge complaints according to
the provisions of law against organizations and/or individuals that breach the
economic contracts and commitments with the Fund.
5. To handle risks and settle loan security
properties according to the Government’s regulations on the State’s
development investment credit.
Article 33.- The Fund
is entitled to refuse all requests of any individuals or organizations to
supply resources not prescribed by law, except for voluntary contributions for
humanitarian and public- interest purposes.
Section II. OBLIGATIONS OF
THE DEVELOPMENT ASSISTANCE FUND
Article 34.- Obligation
to mobilize capital, receive capital and use resources
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2. To use for the right purposes and with
efficiency all capital sources of the Fund, land, property and other resources
assigned to the Fund by the State for attainment of the objectives and
fulfillment of tasks assigned by the State.
Article 35.- Obligation
to manage and run the operations of the Fund
1. To strictly observe the State’s
laws and other regulations related to the Fund’s operation.
2. To work out the development strategy,
five-year and annual plans in conformity with the objectives and tasks assigned
by the State.
3. To sign and perform economic contracts with
various partners (including domestic and foreign partners).
4. To apply scientific and technical advances to
the improvement of the managerial mode with a view to raising the quality and
efficiency of the Fund’s
operations.
5. To fulfill all obligations towards the
laborers according to the provisions of the Labor Code.
6. To observe the State’s regulations on the protection of natural
resources, environment, national defense and security.
7. To observe the regime of statistical,
accounting and periodical reports as prescribed by the State and take
responsibility for the accuracy of such reports.
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Article 36.- The
disclosure of information on the operations, financial inspection reports,
auditing reports and financial reports of the Fund shall comply with the
regulations of the Government.
Article 37.- The Fund’s
obligations towards the investors.
1. To provide investment loans and recover
debts, provide post-investment interest rate support and guarantee for
investors to borrow capital in strict accordance with the provisions of Decree
No.43/1999/ND-CP of June 29, 1999 on the State development investment credit
and the provisions of this Charter; to take responsibility before the investors
for the transactions performed by the Fund.
2. The Fund shall have to fulfill its commitment
to provide loan capital, post-investment interest rate support and investment
credit guarantee for investors; credit institutions undertaking the entrusted
loan provision and entrusting the Fund to allocate or provide loans, or being
re-guaranteed by the Fund for investment credit; to keep secret figures and
creates favorable conditions for customers’ transactions with the Fund according to
provisions of law.
Chapter VI
DEVELOPMENT ASSISTANCE
FUND MANAGEMENT AND ADMINISTRATION ORGANIZATION
Article 38.- The Fund’s
managerial and executive organization
1. The Fund Management Board.
2. The Control Board.
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Article 39.- Tasks and
powers of the Fund Management Board
1. To submit to the Prime Minister for approval
the supplements and amendments to the Charter, operation policy and mechanism
of the Fund and matters related to the State’ development investment credit beyond its
competence.
2. To promulgate regulations on assessment of
financial plans and debt repayment plans of projects using the State’s
development investment credit capital, the regulations on the provision of
investment loans, post-investment interest rate support, the regulations on
investment credit guarantee, re-guarantee, re-guarantee taking, regulations on
other professional operations of the Fund; the regulations on organization and
operation of the Fund Management Board.
3. To consider and approve the operation
orientation, capital mobilization plans, investment loan provision,
post-investment interest rate support, investment credit guarantee; the Fund’s
financial plans and final account settlement reports submitted by the general
director.
4. To decide the provision of investment loans
and investment credit guarantee for projects with the capital-borrowing term of
over 10 years; to decide loan interest exemption or reduction for investment
capital-borrowing projects subject to force majeure risks.
5. To consider and approve the Fund’s
general director’s
proposals on organization and personnel, payroll; establishment and dissolution
of functional bureaus or departments, branches, transaction offices;
appointment and dismissal of heads and deputy-heads of functional bureaus or
departments, deputy-directors of branches and transaction offices.
6. To receive State-owned capital assigned to
the Fund by the Finance Ministry.
7. To approve the activity program of the
Control Board, to examine the Control Board’s reports on control results and financial
settlement evaluation; to decide the construction investment in Group B and C
projects of the Fund’s
system.
8. To oversee and inspect the operation
administering bodies in the implementation of the Government’s
regulations on development investment credit of the State, the Charter of the
Fund and decisions of its Management Board.
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10. To be entitled to use the Development
Assistance Fund’s
seal for the performance of its tasks and exercise of its power.
11. To take responsibility before the Prime
Minister and the Finance Minister for its decisions.
Article 40.- The
working regime of the Fund Management Board
1. The Fund Management Board works according to
the collective regime, meeting regularly once every three months to consider
and decide matters falling within its tasks and powers.
2. The Management Board holds irregular meetings
to settle urgent issues, to be convened by its chairman at the request of the
general director, the chairman of the Control Board or the majority of the
members of the Management Board.
3. The Fund Management Board’s
meetings must be attended at least by 3 of its 5 members under the chairmanship
or its chairman of deputy-chairman (if the chairman is absent). The Fund
Management Board shall decide issues according to the majority of its members;
where the number of votes is split equal, the party with the vote of the person
in the chair at the meeting shall be decisive. The contents and conclusions of
all meetings of the Fund Management Board must be recorded in minutes and sent
to all of its members.
4. The Management Board shall prescribes the
working regulations and assign tasks to its members.
Article 41.- The
Management Board has an assisting body and may use the executive apparatus of
the Fund to perform its tasks. The Management Board’s working facilities and operation funding
shall be calculated in the operation expenditure of the Fund. Its full-time
members shall be salaried and entitled to allowance and/or subsidy regimes
under the Prime Minister’s
decisions stipulating the titles, criteria, salary grades, payroll and
allowance as well as subsidy regimes of the Fund. The part-time members shall
enjoy public-duty allowances and other prescribed benefits like members of the
Management Boards of State enterprises of special grade.
Article 42.- The
Control Board
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The deputy-chairman and members of the Control
Board shall be appointed and dismissed by the chairman of the Fund Management
Board at the proposal of the chairman of the Control Board. The chairman,
deputy-chairman and members of the Control Board shall be salaried and entitled
to allowance and subsidy regimes according to regulations on titles, criteria,
grades, salary scales as well as the Fund’s allowance and subsidy regimes.
2. The Control Board is answerable before the
Fund Management Board for the control of the entire operations of the Fund,
having the following tasks and powers:
a) To inspect and supervise the observance of
the guidelines, policies, regimes and professional regulations on the Fund’s
operation with a view to ensuring the better implementation of the State’s
policy on development investment support, raising the efficiency of the Fund’s
activities, ensuring the safety for the properties of the State, the Fund and
customers; to report to the Fund Management Board and competent persons on the
inspection and supervision results and propose handling measures;
b) To carry out work independently under the
programs already approved by the Fund Management Board;
c) To present its report and proposals on the
control results, report on examination of financial settlement to the
Management Board;
d) To consider and submit to the Management
Board for settlement complaints of organizations and/or individuals related to
the Fund’s
operations;
e) The Control Board chairman may attend
meetings of the Management Board, make comments on matters discussed by the
Management Board but shall not be entitled to vote;
f) The Control Board chairman may use the
internal inspection and control system as well as the working facilities of the
Fund to perform its tasks. The Control Board’s operation funding shall be calculated in
the Fund’s
operation expenditure.
Article 43.- Executive
body
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2. The general director is the legal person representative
of the Fund, being answerable before the Prime Minister, the Management Board
and before law for the entire operations of the Fund.
3. The general director shall have the following
tasks and powers:
a) To organize, run and manage activities of the
Fund in strict accordance with the Government’s regulations on development investment
credit of the State, the Fund’s Charter and decisions of the Management
Board;
b) To promulgate documents on professional
guidance of the Fund;
c) To report to the Management Board for
decision the construction investment in Group B and C projects of the Fund’s
system. To assign responsibilities to investors of projects of the Fund’s
systems;
d) To decide the establishment and dissolution
of professional bureaus or departments, branches and transaction offices; the
appointment and dismissal of heads and deputy-heads of bureaus or departments
under the Fund’s
head-office, the directors and deputy-directors of branches and the chief
accountant after obtaining the consent of the Management Board; the appointment
and dismissal of heads of bureaus of branches at the proposal of the branch
directors;
e) To periodically report on the situation of
implementation of the plans for mobilization and reception of investment capital
sources, loan provision, debt recovery; the post-investment interest rate
support; guarantee, re-guarantee, collection of charges for guaranteeing and
professional operations of the Fund to the Management Board, the concerned
ministries and branches and to the Prime Minister;
f) To represent the Fund in its international
relations related to activities of the Fund;
g) To decide the payroll, wages and other
regimes of the Fund after they are approved by the Management Board;
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Article 44.- The Fund’s
executive apparatus
1. The Fund’s executive apparatus at the central level
is composed of a number of specialized and professional bureaus and departments.
2. The Development Assistance funds in
localities are the Fund’s
branches in the provinces and centrally-run cities. Each branch has a director,
a number of deputy-directors and specialized and professional bureaus. The functions
and powers of the bureaus and departments at the central office and of branches
in the provinces and centrally-run cities shall be stipulated by the general
director.
3. The overseas transaction offices shall comply
with the Prime Minister’s
decisions.
4. The appointment or dismissal of deputy-heads
of bureaus at the branches shall be decided by the branch directors based on
the approval of the general director.
Article 45.- The
general director is entitled to decide the application of measures ultra vires
in case of emergency (natural disasters, enemy danger, fires, incidents) and
bear responsibility for such decisions; and at the same time must immediately
report to the Management Board and the competent State bodies for further
settlement.
Chapter VII
THE DEVELOPMENT
ASSISTANCE FUND’S RELATIONS WITH STATE BODIES, LOCAL ADMINISTRATION AND
CONCERNED ORGANIZATIONS
Article 46.- The Fund’s
relations with the Government and the Prime Minister
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2. To submit to the Prime Minister for approval
the supplements and amendments to the Charter, policies and mechanism on
operation of the Fund and matters on the State’s development investment credit which fall
beyond competence.
3. To direct the implementation of the annual
State plans on development investment credit, assigned by the Prime Minister to
the Fund, including plans on mobilization and reception of capital sources for
loan provisions, post-investment interest rate support, investment credit
guarantee and implement other tasks assigned by the Prime Minister.
4. To materialize the planning and strategy on
the Fund’s
development in the State’s
overall planning and strategy on socio-economic development.
5. To abide by the regulations on the
establishment, splitting, merger and dissolution of specialized and
professional bureaus and departments, branches and transaction bureaus; policies
on organization and personnel; the financial and credit regime as well as
regimes on accounting and statistics as prescribed by law.
6. To be subject to the control and inspection
of the observance of law, guidelines, policies and regimes of the State at the
Fund.
7. To be entitled to manage and use capital,
properties, land and other resources assigned to the Fund by the State for the
performance of tasks assigned by the Government and to ensure the capital
reimbursement and develop such resources.
8. To be entitled to compensation for
risk-related damage and other regimes as prescribed by the Government.
Article 47.- The Fund’s
relations with the Finance Minister
1. To be subject to the supervision of the
Finance Minister over the Fund’s activities.
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3. The Finance Minister may request the Fund’s
Management Board, general director and Control Board chairman to send reports
explaining other relevant matters when necessary.
Article 48.- The Fund’s
relations with the Finance Ministry
1. To observe the financial and accounting
regimes, organize accountancy and accounting.
2. To be subject to the financial control and
inspection by the Finance Ministry.
3. To report to the Finance Ministry for
consideration and submission to the Prime Minister for approval the supplements
and amendments to the Fund’s Regulation on Financial Management.
4. To report to the Finance Ministry the State
budget estimate allocated annually to the Fund (including the allocation of
Charter capital, interest rate support, interest rate difference subsidies) and
other sources of capital assigned to the Fund by the State for carrying out the
State plans on development investment credit.
5. To receive and manage sources of State
capital assigned or entrusted to the Fund by the Finance Ministry for
sub-lending and recovery of loan debts for the State budget.
6. To report to the Finance Ministry for
consideration, supplement and financial support when the Fund meets with risks.
Article 49.- The Fund’s
relation with the Ministry of Planning and Investment
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2. To observe the regime of regularly reporting
to the Ministry of Planning and Investment on the situation of fulfilling the
development investment credit plan norms assigned to the Fund by the State.
Article 50.- The Fund’s
relations with the State Bank of Vietnam
1. To be subject to the inspection and
supervision by the State Bank over the implementation of monetary policies,
foreign exchange management and payment.
2. The State Bank shall coordinate with the Fund
in directing the credit institutions to undertake the loan provision entrusted
by the Fund; provide loans for projects guaranteed and provided with
post-investment interest rate support by the Fund.
Article 51.- The Fund’s
relations with the Government’s Commission for Organization and Personnel
1. To be subject to the inspection and
supervision by the Government’s Commission for Organization and
Personnel over the implementation of the Prime Minister’s decisions on appointment and dismissal,
commendation and discipline of Management Board members, Control Board
chairman, general director and deputy-general directors.
2. To strictly observe the regime and policy on
personnel management and training under the guidance of the Government
Commission for Organization and personnel.
Article 52.- The Fund’s
relations with the Ministry of Labor, War Invalids and Social Affairs
1. To submit to the inspection and supervision
by the Ministry of Labor, War Invalids and Social Affairs over the
implementation of the Prime Minister’s decisions on wage and allowance regimes
for the Fund’s
officials and employees.
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3. To observe the regime of reporting to the
Ministry of Labor, War Invalids and Social Affairs on the implementation of
labor, wage and allowance regimes and policies as prescribed.
Article 53.- The Fund
is subject to the inspection and supervision by ministries and other
specialized branches according to the provisions of law.
1. To fulfill the relevant techno-economic norms.
2. To abide by the regulations on environmental
protection.
3. To participate in the assessment of
investment projects under the strategies and planning for branch or regional
development.
4. To abide by the regulations on external
relations.
5. To ensure the interests for and fulfill the
obligations towards the laborers according to the provisions of law.
6. The Fund is subject to the inspection and supervision
by ministries and branches according to their respective functions prescribed
by law.
Article 54.- The Fund
is subject to the State management by the local administration in the
observance of administrative regulations and the fulfillment of obligations
towards the People’s
Councils and the People’s
Committees according to the provision of law.
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1. According to the principle of voluntariness, equality
and mutual benefits on the basis of contracts.
2. To entrust credit institutions and/or
financial organizations to provide loans and recover debts, to act as agents to
receive entrusted loan capital and enjoy commissions; to provide or undertake re-guarantee
for investment funds.
3. To cooperate, help and support each other for
development through the application of scientific and technical advances and
professional management.
Article 56.- The Fund’s
relations with international organizations, states, non-governmental
organizations and individuals at home and abroad
The Fund may directly negotiate and conclude
contracts on loan provisions, reception of capital for entrusted allocation or
provision of development investment loans, reception of financial support,
personnel training, participation in activities in support of development
investment of branches, trades and regions meeting with difficulties and
enjoying investment privileges under the Government’s regulations on the principles of
voluntariness, cooperation and mutual benefits in accordance with the
provisions of Vietnamese laws and international practices.
Chapter VIII
ACCOUNTING, REVENUE,
FUND ESTABLISHMENT
Article 57.- The Fund
shall organize the work of accounting, settlement and treasury in strict
accordance with the State regulations and its Regulation on financial
management approved by the Prime Minister.
Article 58.- The Fund’s
fiscal year commences on January 1st and ends on December 31st of the calendar
year.
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Article 60.- The Fund may
use the temporarily idle capital for investment in credit bills, bonds of the
Government, for loan provision in support of investment projects funded by the
State budget and temporarily running short of capital, provision of loan
capital for initial production with regard to investment projects entitled to
borrow the Fund’s
capital.
The total capital amount used for lending under
this Article shall not exceed 20% of the total temporarily idle capital of the
Fund.
Article 61.- The
financial result of the Development Assistance Fund is the difference between
its total revenue and total expenditure.
1. The difference of the Fund’s
revenue and expenditure, after the payment of fines for violations of law
provisions, shall be distributed as follows:
a) Deduction for setting up operational risks
reserve fund;
b) Deduction for setting up development investment
fund;
c) Deduction for setting up severance allowance
reserve fund;
d) Deduction for setting up reward and welfare
funds according to the State’s current regulations for State enterprises;
After the deduction for setting up the above
funds, the remainder, if any, shall be supplemented to the development
investment fund. The deduction for establishment, management and use of the
above funds shall comply with the Fund’s Regulation on Financial Management
approved by the Prime Minister.
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3. In order to create favorable conditions for
the Fund to operate in the first 5 years after its establishment, the Fund may
spend according to the financial plans approved by the Management Board and
report it to the Finance Ministry. The Fund’s financial plans are drawn up on the
basis of the management charge enjoyed by the Fund at the level of 0.2%/month
of the average foreign credit capital debt balance. Where the revenue is not
enough to cover the expenditure according to plans, the Fund shall report such
to the Finance Ministry for settlement according to competence.
Article 62.- At the
year-end, the Development Assistance Fund shall make report on financial
revenue-expenditure settlement and submit it to the Management Board for
approval and further submission to the Finance Ministry for consideration and
examination according its function as a State body in charge of the financial
management.
Chapter IX
IMPLEMENTATION PROVISIONS
Article 63.- This
Charter takes effect as from January 1st, 2000.
The amendment and supplement to the Charter on
organization and operation of the Fund shall be submitted by the Management
Board to the Prime Minister for approval.
The Management Board chairman and the general
director of the Development Assistance Fund shall have to organize the
implementation of this Charter
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