Headlines 19/03/2024 14:40 CH

Vietnam's Decree on investor selection for projects subject to bidding

Trần Thanh Rin

On February 27, 2024, the Government of Vietnam promulgated Decree No. 23/2024/ND-CP on elaboration on the Law on Bidding regarding the selection of investors for project implementation subject to bidding according to laws.

Decree No. 23/2024/ND-CP on elaboration on the Law on Bidding 2023 regarding the selection of investors for project implementation subject to bidding includes:

- Clause 6 Article 6 on assurance of competitiveness in investor selection;

- Clause 6 Article 10 on investor selection incentives;

- Clause 3 Article 15 on investor selection costs;

- Clause 4 Article 35 on investor selection methods;  

- Clause 3 Article 46 on investor selection procedures;

- Clause 5 Article 10 and Point c Clause 2 Article 84 on procedures, costs, and roadmaps for online investor selection bidding; national databases on investor selection; cases where investor selection bidding on the Vietnam E-Procurement System is not organized;

- Clause 5 Article 62 on methods and standards of bid assessment;

- Clause 2 Article 73 on contents of business investment project contracts;

- Clause 4 Article 86 on investor selection bidding inspection and supervision;  

- Clause 4 Article 88 on handling of situations in investor selection;

- Clause 2 Article 96 on transitional provisions.

Regulated entities of Decree No. 23/2024/ND-CP include:

- Organizations and individuals participating in or involving in investor selection bidding for the implementation of business investment projects prescribed in Clause 4 Article 1 of Decree No. 23/2024/ND-CP.

- Organizations and individuals whose bidding activities are not subject to cases prescribed in Clause 1 Article 1 of Decree No. 23/2024/ND-CP are permitted to apply the Law on Bidding 2023 according to Clause 4 Article 2 of the Law on Bidding 2023.

See more details in Decree No. 23/2024/ND-CP, effective as of February 27, 2024.

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