Ministry of Finance seeks to reform investor selection bidding regulations

Ministry of Finance seeks to reform investor selection bidding regulations

The Ministry of Finance has proposed amendments to Decree 115 and the replacement of Decree 23 to simplify procedures, shorten processing times, enhance competitiveness, and standardise regulations for the investor selection process.

The Ministry of Finance is looking to reform investor selection bidding regulations

The Ministry of Finance (MoF) is finalising a draft to revise Decree No.115/2024/ND - CP, detailing several articles and measures to implement the Law on Bidding for the selection of investors to implement projects using land, which will be submitted to the government for issuance.

The draft proposes amending 32 articles, adding seven, and abolishing three out of the 75 articles in Decree 115, aiming to streamline procedures, reduce time, accelerate project progress, and strengthen decentralisation in investor selection.

The ministry suggests that the amended decree will replace Decree No.23/2024/ND-CP, which details the implementation of the Law on Bidding regarding investor selection for projects requiring bidding under sector-specific laws, to avoid overlapping, as the two decrees share 55 articles with similar content regarding the process, procedures, and supervision of investor selection.

Distinct aspects between the two project types, land-using investment projects and projects in specialised sectors, will be integrated into appropriate provisions in the amended decree to ensure consistency within the legal framework.

The revision is deemed urgent to promptly align with the detailed regulations assigned to the government under the amended Bidding Law, while addressing issues in implementing the Public-Private Partnership (PPP) Law and the current Decree 115.

The amendments focus on increasing competitiveness in bidding, and expanding eligibility and preferential calculation methods for high-tech enterprises, innovative startups, innovation centres, and investors committing to technology transfer.

The draft also proposes removing the requirement for similar project experience, and simplifying evaluation criteria, bidding principles, and procedures to shorten timelines, ensuring alignment with contractor selection regulations.

Additionally, the draft adjusts regulations on management responsibilities, violation handling, and emerging situations in bidding to improve the legal framework and enhance enforcement efficiency.

VIR