Thông tư 61/2004/TT-BTC của Bộ Tài chính về việc sửa đổi, bổ sung một số điểm của Thông tư 86/1999/TT-BTC ngày 8/7/1999 của Bộ Tài chính về hướng dẫn giải ngân và cơ chế tài chính đối với vốn tín dụng của Ba Lan cho Chương trình phát triển ngành công nghiệp đóng tầu thủy Việt Nam

CIRCULAR

AMENDING AND SUPPLEMENTING A NUMBER OF POINTS OF THE FINANCE MINISTRY'S CIRCULAR NO. 86/1999/TT-BTC OF JULY 8, 1999 WHICH GUIDES THE DISBURSEMENT OF, AND THE FINANCIAL MECHANISM APPLICABLE TO, POLAND'S CREDIT CAPITAL FOR THE PROGRAM ON DEVELOPMENT OF VIETNAM'S SHIPBUILDING INDUSTRY

Based on the Prime Minister's directing opinions in the Government's Official Dispatch No. 495/CP-QHQT of April 13, 2004 on adjusting the financial mechanism applicable to Poland's loan capital for the key laboratory project "Ship model-testing reser-voir" under the program on development of Vietnam's shipbuilding industry (hereinafter called the program) of Vietnam National Shipping Lines (VINASHIN),

The Ministry of Finance hereby guides the amendments and supplements to a number of points in the financial mechanism applicable to Poland's credit capital under the Agreement on the provision of credit to the program, signed between the Polish Government and the Vietnamese Government on June 6, 1998, prescribed in the Finance Ministry's Circular No. 86/1999/TT-BTC of July 8, 1999, as follows:

I. AMENDED AND SUPPLEMENTED CONTENTS

1. To replace "the Development Investment General Department" with "the Development Assistance Fund" in the whole Circular No. 86/1999/TT-BTC.

2. To amend the title and the first paragraph of Point 2, Part II on the financial mechanism applicable to Poland's credit source as follows:

"2. The financial mechanism applicable to the Polish Government's USD 70-million credit source:

2.1. The Government, through the Ministry of Finance, shall allocate a maximum of USD 7.965 million from Poland's credit source (make foreign-loan State budget revenue-expenditure records) to VINASHIN for the execution of the "ship model-testing reservoir" project. The State budget shall ensure balance for debt repayment for the above-said credit capital amount (including the principal and interest arising as from January 1, 2004) to Poland upon the credit maturity.

The revenue-expenditure vouchers of foreign-loan amounts withdrawn through the State budget shall serve as bases for the allocation of capital to the project. VINASHIN shall have to account the above-said allocated amount as the increase of the State-owned capital at the unit. The project's loan interests already paid up to December 31, 2003 by VINASHIN shall not be refunded; VINASHIN is allowed to account these interests into the project's investment expenditures.

The Development Assistance Fund shall have to coordinate with VINASHIN in examining and certifying data on the withdrawal of Poland's credit capital, the project's money amounts already acknowledged and collected (re-lent) by December 31, 2003, and report thereon to the Ministry of Finance for use as basis for making State budget revenue-expenditure records.

2.2. The Government, through the Ministry of Finance, shall re-lend USD 62.035 million from Poland's credit source to VINASHIN for the execution of the program strictly according to Poland's lending conditions stated at Point 1, Part II of the Finance Ministry's Circular No. 86/1999/TT-BTC of July 8, 1999.

3. To amend the last point (*), Item d, Point 4 of Part II as follows:

"* To accept VINASHIN's payment, clearly determining items allocated by the State budget and/or relent from the State budget."

4. To amend Item f, Point 4 of Part II as follows:

The payment from the credit capital source (90% of the contract value) shall be made 60 days as from the date of issuance of the Certificate of Receipt or the Bill of Lading/Airway Bill, enclosed with notes "Payment with the loan capital source under the USD 70-million Credit Agreement signed on June 6, 1998" in form of authorized documentary collection between the Polish Bank and Vietnam Foreign Trade Bank. VINASHIN shall send its payment acceptance to Vietnam Foreign Trade Bank within 20 days (of the above-said 60 days) before the maturity so that the Bank can carry out the capital withdrawal procedures within the prescribed time limit.

5. To amend the first paragraph of Point 6, Part II as follows:

Right after receiving VINASHIN's payment acceptance, which clearly identifies items allocated by the State budget and/or relent from the State budget, Vietnam Foreign Trade Bank shall have to send to the Ministry of Finance (the External Finance Department) and the Development Assistance Fund the capital-withdrawal notice with the following contents: The money amount of each payment, allocated by the State budget and/or relent from the State budget, the date of capital withdrawal, and the serial number of the relevant commercial contract.

II. ORGANIZATION OF IMPLEMENTATION

1. This Circular takes effect 15 days after its publication in the Official Gazette. Basing themselves on the amended points in this Circular, the Development Assistance Fund and VINASHIN shall amend the program's foreign-capital credit contract to make it suitable and coordinate with one another in implementing the program.

2. Apart from the amendments in Section I above, other provisions of the Finance Ministry's Circular No. 86/1999/TT-BTC of July 8, 1999 shall remain effective.

Any problems arising in the course of implementation should be promptly reported by relevant agencies to the Ministry of Finance for coordinated settlement.