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- 15 / 07 / 2018 -
Solving problems in disbursement procedures for public investment

On May 24, 2018 the Ministry of Finance promulgated Circular No.52/2018/TT-BTC amending and supplementing some of articles of Circular No.08/2016/TT-BTC on January 18, 2016 on management and payment of investment capital funded with the state budget capital, the Finance Ministry Circular No.108/2016/TT-BTC dated 30/06/2016 amending and supplementing some of articles of the Circular No.08/2016/TT-BTC dated 18/01/2016.
Accordingly, Circular No.52/2018/TT-BTC has had noteworthy amendment and supplement such as:
1. Expanding the scope and object of regulation:
Formerly, some projects have special qualities (namely: Investment projects on construction of socio-economic infrastructure works of poor districts; Investment projects belonging to communal budgets and projects invested by the commune level; Investment projects under forest protection and development plans and investment projects using government bond capital) which are the Government and the Prime Minister shall apply the specific management mechanism according to the provisions of separate circulars. However, at present, all investment projects funded by the state budget are subject to uniform management regulations.
2. Supplement provisions with specific construction, namely:
Circular No.52/2018/TT-BTC regulates investment projects of state secret works managed by ministries, branches and localities, the State Treasury shall only control the appropriateness and adequacy of the capital withdrawal vouchers and the money transfer at the request of the investor. Agencies and investors are responsible for controlling the payment content and the project file.
3. Amendment regulations on management, payment public investment capital:
Circular No.52/2018/TT-BTC provides to add some principles of advance capital to strengthen controlling of advance recovery, because of in case, the contractor does not return to carry out the procedures for recovering the advanced capital and closing the accounts at the State Treasury due to the fact that the value of payment for completed volumes has not reached 80% of the contract value.
It can be seen that Circular No.52/2018/TT-BTC has been important amended and supplemented, this will facilitate the implementation of the policy of speeding up the disbursement of public investment capital of the Government and at the same time contributing to ensuring transparency in the operation of financial agencies from central to local level.