On February 27, 2024, the Government issued Decree 23/2024/ND-CP providing details for several articles and measures for implementing the Law on Bidding on investor selection for projects subject to bidding as prescribed by specialized laws (Decree 23). Decree 23 is issued to complete the legal framework on investor selection to implement business investment projects in accordance with new regulations of the Law on Bidding 2023 and includes some new regulations as follows:

(i) Detailing the projects subject to bidding for investor selection as prescribed by specialized laws;
(ii) Detailing the procedures for investor selection in Article 46 of the Law on Bidding 2023;
(iii) Regulating the method and criteria for evaluation of bids.

New regulations on investor selection for implementation of projects subject to bidding

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