Capital Investment, Decree on Management of (PM Decree No. 70/PM, 1991)

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DECREE ON THE MANAGEMENT OF CAPITAL INVESTMENT
Prime Minister Decree No. 70/PM

• Based on the Constitution of Lao PDR,
• Based on the resolution of the 1st National Conference on Forestry,
• Based on the approval of the governmental meeting of August 26, 1991,

THE PRIME MINSTER DECREES:

All capital investment projects must conform to the strategic plans for national socio-economic development and must be socio-economically effective.

Article 2

Capital investment plans at the national level are authorized by the Government in conformity with the budget plans adopted by the National Assembly.

Article 3

Each sector will responsible for the computation and establishment of their respective sector's capital investment plans. The Ministry of Economy Planning and Finance assumes the core coordinating role with other sectors in studies, reviews, balances to submit to the Government.

Article 4

Heads of concerned sectors will take the lead and be directly responsible for authorized projects' implementation towards the Government.

Article 5

The implementation of capital investment projects must be opened to extensive tenders in conformity with tender regulations.

Article 6

The Ministry of Agriculture Planning and Forestry is entrusted to establish provisions, regulations, instructions, recommendations, methods and elaborate measures for the implementation of this decree and has the duty to monitor and control each project's implementation in conformity with its role.

Article 7

This decree is effective from the day it is signed. Paragraphs and cluases contained in formerly promulgated decrees, resolutions, instructions and regulations contrary to this Decree must be replaced with this Decree's binding provisions.
 

Vientiane, 28 August, 1991

Prime Minister
Khamtay Siphandone
signed and sealed

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