A number of peculiar mechanism relating to Da Nang city

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On November 01, 2016, the Government issued the Decree No. 144/2016/ND-CP prescribing a number of peculiar mechanism relating to investment, finance, budget and management of Da Nang city, in order to promote the socio-economic development of the City, enable the City to uphold advantages to become one of the great cities of Vietnam…

The Decree points out that the Government shall priorly provide an amount from the central budget for the City’s budget to contribute in the conduct of project in form of multi-regional Public-private partnership (PPP) in the City’s area. The Government shall priorly allocate sufficiently and purposefully the supplement capitals to the City’s budget to conduct socio-economic development projects of the City and other regional projects of the Middle of Vietnam and the Central Highlands.

At the same time, the Government shall prioritize the raising of Official Development Assistance (ODA) for the City to implement important infrastructural investment projects included in the spending of the City’s budget. The allocation of reciprocal capital for such projects shall be ensured by the City’s budget. The Government shall prioritize the allocation of concessional loans in form of on-lending loan to implement PPP projects in the City.

The City may reduce a part of loan interests for organizations/individuals that applied for loans to invest in important socio-economic development projects which are recoverable in the scope and capacity of the City’s budget. The City may sell social housing invested by the State budget in form of lump sum payment to re-invest in the construction of other social housing in local area. People’s Committee of the City shall establish and report to the Ministry of Construction a Project in writing before conducting and implementing it.

This Decree takes effect on January 01, 2017 and annuls the Decision No. 13/2006/QD-TTg dated January 16, 2006.