Politics

Gov’t tightens budget spending on properties abroad

From April 26, 2010, purchases or construction of offices abroad worth 10 million USD upwards that use State budgets have to get a nod from the Prime Minister, decided a new regulation.
From April 26, 2010, purchases orconstruction of offices abroad worth 10 million USD upwards that useState budgets have to get a nod from the Prime Minister, decided a newregulation.

The Government decreeNo.23/2010/ND-CP sets qualifications for agencies to buy propertiesabroad with State budgets, which are limited to State-run agencies oragencies fed by State budgets.

The beneficiaries include those representative agencies abroad whichhave not yet owned any office buildings or any kinds of workplaces.

Also eligible are agencies abroad with their office and living spacenarrower than 70 percent of standards or their offices andaccommodations getting degraded seriously.

Relevant properties projects abroad worth 10 million USD upwards alsoneed to receive the Prime Minister’s approval in procedures andproceedings of investments and construction./.
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