The government has issued a new decree on sanctions for violations in investment and bidding procedures.
The government has issued a new decree on sanctions for violations in investment and bidding procedures.
The new decree will come into effect on July 15 and replace Decree No. 155/2013.
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It stipulates administrative violations and their punishment, remedial solutions for the consequences of violations, and the rights of related local authorities in punishing violations in planning and investment.
Behavior considered administrative violations in planning and investment include those relating to public capital use and management, those in investment in Vietnam and investment from Vietnam to other countries, those in bidding management, and those in business registration.
Other administrative violations in planning and investment not stipulated in the decree will be subject to a decree on administrative violations in State management.
Organizations will be warned or fined a maximum of VND80 million ($3,560), while the maximum for individuals is VND40 million ($1,780), which are unchanged from the previous decree.
Depending on the seriousness of the offence, individuals and organizations will be subject to one or more remedial solutions.
(Source:Vneconomictimes)
