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| An intersection of Van Don expressway connecting to Mong Cai International Border Gate in Quang Ninh province__Photo: VNA |
The 2024 Public Investment Law (the Law), which will come into force on January 1 next year, allows competent authorities to decide whether or not to separate the content on compensation, support, resettlement and ground clearance into an independent component project when they approve investment policy for national important projects, and group-A, group-B, and group-C projects.
The 103-article Law grants People’s Committees at all levels the authority to decide on investment policy for group-B and group-C projects managed by localities (under previous regulations, this authority was vested to People’s Councils). However, the Law says that the competence to decide on investment policy for projects must go hand in hand with the responsibility to report to same-level Peoples’ Councils at the nearest meetings.
Meanwhile, the Prime Minister will be empowered to decide on the adjustment of medium-term public investment plans funded by the central budget among ministries, central agencies and localities in adherence to the principle that the central budget’s amount does not exceed the total level decided by the National Assembly for medium-term public investment plans. He/she may also decide on such adjustment within and among sectors, fields and programs of ministries, central agencies and localities within the total capital level decided by the National Assembly for medium-term public investment plans for each ministry, central agency and locality.- (VLLF)
