On 3/9, the government issued a decree establishing the Defense Policy and Foreign Affairs Fund, an extra-budgetary fund with legal entity status, its own seal, and a commercial bank account in Vietnam.

The fund will receive, manage, and utilize cash and in-kind contributions, sponsorships, and donations from businesses, organizations, and individuals both within and outside the military to carry out defense policy and foreign affairs work.

The fund's mission is to support defense policy and foreign affairs activities that the state budget does not fully cover or where existing coverage doesn't meet practical needs.

The fund must comply with reporting and accounting regulations and undergo inspections and audits by authorized state agencies. Idle funds can be placed in term deposits for a maximum of 12 months at commercial banks.

Military equipment at the final rehearsal for the parade, morning of 30/8. Photo: Nguyen Dong

Military equipment at the final rehearsal for the parade, morning of 30/8. Photo: Nguyen Dong

One of the fund's operating principles is to refuse contributions that harm national interests, security, or defense; violate anti-corruption laws; involve money laundering, terrorist financing, or other illegal activities. The fund will not support organizations or individuals engaging in illegal activities that violate Vietnamese law.

The Minister of National Defense will appoint and dismiss the fund's president. The Minister will also determine the number of, appoint, and dismiss the vice presidents and members of the fund's management board.

The government stipulates that monetary contributions will be accepted in cash or via bank transfer.

For in-kind donations, the fund will accept them directly at a location agreed upon by both parties. The value of these donations will be converted to Vietnamese dong and recorded in the contribution records.

For infrastructure sponsorships, the assessment, technical design approval, cost estimation, construction permitting, quality management, acceptance, handover, warranty, and insurance will follow current construction investment regulations.

According to the decree, the fund will allocate resources to policy groups or programs already approved by the Party and State or by the Minister of National Defense. It will also support disaster relief, epidemic control, search and rescue efforts, and provide assistance to Ministry of National Defense forces carrying out national defense missions. Additionally, it will fund the restoration and repair of cultural works and historical sites associated with national revolutions and martyrs' cemeteries.

The fund will also finance defense diplomacy activities and support other countries in disaster relief, epidemic control, or search and rescue operations.

Vu Tuan