Politics

Circular issued on BOT thermoelectrical plant investment

The Ministry of Industry and Trade (MoIT) has issued Circular No. 23/2015/TT-BCT regulating procedures for investing in thermal electricity plant projects in Vietnam under the form of build-operate-transfer (BOT).
The Ministry of Industry and Trade (MoIT) has issued Circular No.23/2015/TT-BCT regulating procedures for investing in thermalelectricity plant projects in Vietnam under the form ofbuild-operate-transfer (BOT).

Accordingly, the circular willbe applied to organisations and individuals joining activities relatedto investment of thermal electricity plant projects under the form ofBOT contracts.

A BOT contract is a deal signed between MoIT and aBOT investor to build a thermal power plant in Vietnam. After the plantis completed, its investor is allowed to operate the plant for a fixedperiod of time, after which the project is transferred to MoIT.

TheGeneral Department of Energy under MoIT will work with BOT investors toresolve issues arising during the process of financial preparations.

Theselection of BOT investors will be carried out in line with legalbidding regulations. BOT investors are required to submit a record filerequesting an investment registration certificate to MoIT within 30 dayssince the investment deal is signed.

Projects implementedbefore September 1, 2015 will be subject to regulations stated inArticle 72 of Decree No. 15/2015/ND-CP by the Government on investmentsunder the public private partnership (PPP) model.

Memorandumsof understanding (MoU) on developing BOT thermal power plant projectsbetween investors and the ministry and principle agreements (PA) signedbetween the General Department of Energy with BOT investors beforeSeptember 1, 2015 are not required to re-sign.-VNA
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