Vietnamese law changes often. The Railway Law exists in both a 2017 and a 2025 version; the Capital Law was replaced in 2026. A project spanning ten years passes through two or three generations of implementing decrees.
A National Assembly resolution allows a shortened procedure for urban railway projects, but only in Hanoi and Ho Chi Minh City. It does not extend to other localities.
International lump-sum contracts transfer quantity risk to the contractor. Vietnamese capital settlement, however, requires evidence of quantities executed. Agree the price breakdown as a contract annex before signing.
| Stage | Name | Content |
|---|---|---|
| 1 | Route planning | Incorporating the line into provincial and urban master plans; route alignment, station and depot locations; preliminary TOD area. |
| 2 | Investment policy decision | Pre-feasibility study, capital source appraisal, investment policy decision by the competent authority. |
| 3 | Project appraisal and approval | Feasibility study and basic design, or Front-End Engineering Design under the special mechanism; appraisal; approval. The approved total investment becomes the legal ceiling for all later settlement costs. |
| 4 | Site clearance and resettlement | Land recovery, compensation, support and resettlement; handover of the site in phases. |
| 5 | Contractor selection | Bidding plan, bidding documents, evaluation, approval, contract signing. |
| 6 | Construction and cost management | Detailed design, cost estimates, construction, phased acceptance of work volumes, payment, handling of variations. |
| 7 | Testing, trial run and system safety certification | Static and dynamic testing, integrated trial run, independent system safety assessment, state acceptance, operating licence. |
| 8 | Handover and asset recognition | Handover to the operator, establishment of public asset ownership, asset records, depreciation, fare and subsidy policy. |
| 9 | Capital settlement | Settlement report, independent audit of the settlement report, review, approval, handling of receivables and surplus materials. |
For a metro line the construction period typically runs eight to fifteen years. Waiting until completion to begin the audit of the capital settlement report means that early-stage records have deteriorated, signatories have moved on, subcontractors have been dissolved, and — most importantly — underground works can no longer be inspected.
For large projects the audit is therefore performed in parallel with project execution, in phases aligned with construction stages or packages, with the final phase consolidating everything into the audit report on the capital settlement report. This does not replace the final report; it makes the final report possible.
51 instruments currently governing urban railway and TOD — laws, National Assembly resolutions, government decrees, ministerial circulars, technical regulations, and resolutions of the Hanoi and Ho Chi Minh City People's Councils. Filterable by level, locality, year and validity status.
Nine stages from route planning to capital settlement, each with the deciding authority, the governing instruments, the deliverable, and the problems most often encountered.
Thirteen audit sections, two mandatory balancing equations, and the reasoning behind parallel auditing for large projects.
Common audit risks grouped into eight categories, each with indicators and the audit procedure that responds to it. Compiled from general professional experience and public material — not from any specific organisation.
Telephone and Zalo: +84 82 509 2007
ASCO Building, No. 2, Lane 308, Le Trong Tan Street, Phuong Liet Ward, Hanoi
Correspondence in English is welcome. Formal deliverables — audit reports, valuation certificates — are issued in Vietnamese, with an English translation where the engagement requires one.
This page is general information, not advice on any particular project, and is not a legal source. Vietnamese legislation changes frequently — always verify against the official gazette text before relying on it.