JOINT VENTURE OF VIETNAM AUDITIilG AND EVALUATION COMPA'{Y LIMITED AND NEXIA STT COMPANY LIMITED COMPAN"Y LTTIITEDA Nexia STT Ministry of Agriculture and Rural Development Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Government of the Socialist Republic of Vietnam Portions implemented by the Central Project Management Unit Audited Financial Statements Period from I lanuary 2023 to 30 April 2024 MINISTRY OF AGRICULTURE AND RURAL DEVETOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the Intemational Development Associatron and the Govemment of the Social* Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT Contents STATEMENT OF THE PROJECT MANAGEMENT UNIT.......,,,.... 2 STATEMENT OF THE PROJECT MANAGEMENT UNIT ON COMPLIANCE 4 INDEPENDENT AUDTORS' REPORT......... 5 STATEMENT OF FINANCIAL POSMON L2 STATEMENT OF INCOME AND E(PENDITURES L4 STATEMENT OF SOURCES AND USES OF FUNDS....... 15 STATEMENT OF DISBURSEMENTS BY CATEGORY 16 STATEMENT OF DESINATED ACCOUNT ..,... t7 STATEMENT OF WTHDRAWALS .................. 18 NOTES TO THE FINANCTAL STATEMENTS 19 <) * 1 MINISTRY OF AGRICUTTURE AND RURAL DEVETOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the Internahbnal Development Association and the Government of the Socialist Republic of Weham PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENT OF THE PROJECT MANAGEMENT UNIT The Central Project Management Unit of the Project "Forest Sector Modernization and Coastal Resilience Enhancement" (\he Central Project Management Unif or \he Project Management Unif) submits this report together with the audited Financial Statements of the Project "Forest Sector Modernization and Coastal Resilience Enhancemeny - Portions implemented by the Central Project Management Unit ("the Project') for the period from 1 January 2023 to 30 April 2024. The Project Management Unit Members of the Project Management Unit responsible for the project management for the period from l January ZO23 to 30 April 2024 and at the date of this report were as follows: Mr. Pham Hong Vich Director Mr. Pham The Thang Deputy Director Ms. Nguyen Bich Ngoc Accountant in charge Auditors The accompanying Financial Statements for the period from 1 January 2023 to 30 April 2014. have been audited by J-oint venture of vietnam Auditing and Evaluation Company Limited and ND0A sTr Company Limited. Responsibility of the Project Management unit in respect of the Financial statements The Project Management unit is responsible for preparing the Financial statements of the Project, which comprise thie Statement of Financial Position as at 30 April 2024, the Statgment of Income of Funds, the statement of Disbursements by and Expenditures, the statement of sources and uses for the period c.i.r;t ttre statement of Deignated Account, and the statement of withdrawals from-t january 2023 to 30 Api'rt ZOZc and the Notes to the Financial Statements, including a view of the flnancial position of ,urr.r, of iignincant accountihg policies which give a true and^fair in" proi!.t ani its designated alcount balance is at 30 April 2024, as well as of the income-and ,ource, a-nd uses of funds of the Project, designated account movements and fund .zr: ( rt'tt witnarawats ior the period from 1 lanuary 2023 to 3b Apdl2024, in accordance with "*penaitrres, the-accounting policies and the covenants contained in Financing Agreement -credit number 6079-VN' In Unit is required to: iieparing the Financial Statements, the Project Management . Select suitable accounting policies and then apply them consistently; D} . Make judgments and estimates that are reasonable and prudent; \-_ '3'ort . state whether applicable accounting principles have been followed, subject to any material : departures disclosed and explained in the Financial Statements; . Prepare the Financial statements on the going concern basis unless it is inappropriate to preiume that the Project will continue in operation; and . Design and maintain an effective internal control over compliance with requirements that could hive-a direa and material nnuniiit on the Financial btatements, as well as over financial reporting for the purpose of "f"a properly preparing presenting the Financial Statements so as .and to'miniriise errors and frauasi aia tu[e ,isponiiUnity for its assertion as to the effectiveness of such internal control. 2 MINISTRY OF AGRICULTURE AND RURAL DEVEIOPIIENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Govemment of the Socialist Republic of Wetnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENT OF THE PROJECT MANAGEMENT UNIT (CONTINUED) The Project Management Unit is responsible for ensuring that proper accounting rerords are kept which disclose, with reasonable accuftrcy at any time, the financial position of the Project and that the Financial Statements comply with the accounting policies set out in Note 2 to the Financial Statements. The Project Management Unit is responsible for ensuring that the funds have been used as intended for the Poect and for complying with Financing Agreement - Credit number 6079-vN as well as laws and regulations applicable to the Project. The Project Management Unit is also responsible for safeguarding the assets of the Project and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities. The Project Management Unit confirms that they have complied with the above requirements in preparing the Financial Statements. of the Cen tral P roject N4 a nageme nt U n it, A N i ol U N tz zt CA lo tz ri 0' 1. LA EP o ffi@rh Diriltor Hanoi, 23 May 2024 a ext rT -4 r3Q -../ !.1 3 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Government of the Socialist Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENT OF THE PROJECT MANAGEMENT UNIT ON COMPUANCE The Project Management Unit is responsible for complying with Financing Agreement - Credit number 6079-VN, laws and regulations applicable to the Project. The Project Management Unit confirms the following: An effective internal control has been designed and maintained over compliance with Financing Agreement - Credit number 6079-VN, laws and regulations applicable to the Project; The Project has complied with laws, regulations, bidding processes as well as other regulations - under Financing Agreement Credit number 6079-VN, that could have a direct and material financial effect on the Projecfs Financial Statements for the period from 1 lanuary 2023 to 30 Aptil2024; The Projecfs receipts and disbursements via the designated account for the period from 1 January 2023 to 30 April 2024 arc in accordance with the relevant covenants of Financing Agreement - Credit number 6079-VN and prevailing relevant regulations established by the World Bank; The withdrawal applications were adequately reconciled to the statements of expenditures (SOEs) prepared by the Project Management Unit for the period from 1 January 2023 to 30 April 2024 and these SOES were adequately supported; and The proceeds of the loan were used only for the purposes of the Project. For f of the Project Management Unit, F to 2 o M Hanoi, 23 May 7024 D 4 Ioint venture of Vietnam Auditing and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company NEXIA STT Company Limited road, 19b Floor, C'land Tower, No. 156 Xa Dan llth Floor, Song Da Tower, No. 165 Cau Giay Gu Giay district, Hanoi II, Nam Dong ward, Dong Da distract. Hanoi Tel: (84-24) 62670 49U4921493 Tel: (84-24) 39 350 990 Fax: (84-24) 62 670 494 Fax: (84-24) 39 3s0 991 INDEPENDENT AUDITORS' REPORT on the Project Financial Statements To: The Management Board for Forestry Projects The Central Project Management Unit of the Project'Forest Sector Modernization and Coastal Resilience Enhanc€ment" Audit opinion We have audited the accompanying Statement of Financial Position as at 30 April 2024, and the Statement of Income and Expenditures, the Statement of Sources and Uses of Funds, the Statement of Disbursements by Category the Statement of Designated Account and the Sbtement of Withdrawals for the period from 1 January 2023 to 30 April 2024 (\he Financial Statements'), and a summary of significant accounting policies with the Notes to the Financial Statements of the Project "Forest sector Modernization and Coastal Resilience Enhancement" - Portions implemented by the Central Project Management Unit (\he Poecf) using the world Bank's credits through the International Development Association C'IDA') and counterpart funds from the Government of Vietnam. In our opinion, in all material respects: a) The Statement of Financial Position, the Statement of Income and Expenditures, the Statement of Sources and Uses of Funds, and the Statement of Disbursements by Category give a true and fair view of the financial position of the Project as at 30 April 2024, and of its income and expenditures, receipts and disbursemenb for the period from 1 January 2023 to 30 April 2024 in conformity with the accounting policies set out in Note 2 to the Financial Statements; b) ' The Statement of Designated Account and the Statement of Withdrawals give a true and fair view of the designated account balance as at 30 April 2024, and of operations of the designated account, and of the funds withdrawn for the period from 1 January 2023 to 30 April 2024, in conformity with the accounting policies set out in Note 2 to the Financial StatemenE; and c) The statements of Expenditures and Summary sheets are fully prepared and maintained with adequate supporting documents to support for the replenishment requests submitted to the world gank. Funds disbursed through the statements of expenditures and summary sheets are utilized for purposes defined in Financing Agreement - Credit number 6079-VN. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing ("ISAS'). Our responsibilities under those standards are further described in lhe Auditots' Respnsibilties for the Audit of the Financial Sbtemenb section of our report. We are independent of the Project in accordance with the ethical requirements that are relevant to our audit of the Financial Statements in accordance with International Ethics Standards, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Joint venture of Vietnam Auditlng and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company ND(IA sTT Company Limited road, 19s Floor, 11h Floor, Song Da Tower, No. 155 Cau Giay Cland Tower, No. 156 xa Dan Cau Giay district, Hanoi II, Nam Dong ward, Dong Da district, Hanoi Tel: (84-24) 62670 49114921493 Tel: (84-24) 39 3s0 990 Fax: (84-24) 62 670 494 Fax: (84-24) 39 350 991 Responsibilities of the Project Management Unit for the Financial Statements The Project Management Unit is responsible for the preparation and fair presentation of the Financial Statements in accordance with the accounting policies set out in Note 2 to the Financlal Statements, and for such internal control as the Project Management Unit determines is necessary to enable the preparation of the Financial Statements that is free from material misstatement, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole ire free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS will always detect a material misstatement when it exisE. MisstatemenE can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Financial Statements. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. we also: . IdenUff and assess the risks of material misstatement of the Financial Statements, whether due to fraud oi error, design and perform audit procedures responsive to those risk, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion' The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraudhay involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. . Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. . Evaluate the appropriateness of accounting policies used and related disclosures made by the Project Management Unit. the 4 . Evaluate the overall presentation, structure, and content of the Financial Statements, including disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair pres€ntation' ( \ Joint venture of Vietnam Auditing and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company NEXIA STT Company Limited road, 19h Floor, Cland Tower, No. 156 Xa Dan lls Floor, Song Da Tower, No. 165 Cau Giay C.au Giay district, Hanoi II, Nam Dong ward, Dong Da district, Hanoi Tel: (84-24) 62 670 49114921493 Tel: (84-24) 39 350 990 Fax: (84-24) 62 670 494 Fax: (84-24) 39 350 991 . Conclude on the appropriateness of managemenfs use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Projecfs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditot's report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are basd on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Project to cease to continue as a going concern. We communicate with those charged with govemance and the Project Management Unit regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with Project Management Unit with a statement that we have complied with the relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with the Project Management Unit, we determine those matters that of most significance in the audit of the financial statements of the current period and are therefore the key audit matters, We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. 1NHH (, * o mpany Limited Luong Thi Mai Thanh Thanh Trung Auditor Audit Practising Registration Certifi cate Registration Certificate No. 4561-2023-225-1 No. 0518-2023-225-1 Audit Report No.: 110/2024/HN-AUD^VB FMCR CPMU Hanoi, 23 May 2024 Joint venture of Vietnam Auditlng and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company ND(A STT Company Limited road, 11s Floor, Song Da Tower, No. 165 Gu Giay 19s Floor, C'land Tower, No. 156 xa Dan Cau Giay district, Hanoi II, Nam Dong ward, Dong Da district, Hanoi Tel: (84-24) 62570 49114921493 Tel: (84-24) 39 350 990 Fax: (84-24) 62 670 494 Fax: (84-24) 39 350 991 INDEPEilDENT AUDITORS' REPORT On compliance with Applicable Laws, Regulations, Procurement Procedures and Other Provisions of the Financing Agreement To: The Management Board for Forestry Projects The Central Project Management Unit of the Proiect "Forest sector Modernization and Coastal Resilience Enhancement" Audit opinion We have audited the compliance with the Applicable Laws, Regulations, Procurement Procedures and - Other Provisions of Financing Agreement Credit number 6079-VN of the Project "Forest Sector Modernization and Coastal Resilience Enhancement" - Portions implemented by the Central Project Management Unit f'the Projed), implemented by the World Bankt credits through the International Development Association CIDA') and counterpart funds for the period from 1 January 2023 to 30 April2024. In our opinion, the Poect was, in all material respects, in compliance with the applicable laws, regulations, the procurement procedures and other provisions of Financing Agreement - Credit number 6079-VN, that could have a direct and material financial effects on the Projecfs Financial Statements for the period from 1 January 2023 to 30 April 2024' Basis for opinion We conducted our engagement in accordance with the International Standard on Assurance EngagemenLs :000, "Asluiance Engagements other than Audits or Reviews of Historical Financial tnf6riration", issued by the International Auditing and Assurance Standards Board. Our responsibility is to expreis an opinion on the Projecfs compliance with the requirements, based on our procedures. We are independent of the Project in accordance with the ethical requirements that are ielevant to our audit of the compliance with the applicable laws, regulations, and other provisions, \N and we have fulfilled our other ethical responsibllities in accordance with these requirements. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. fl Responsibilities of the Proiect Managemcnt Unit r0 The Project Management Unit is responsible for compliance with the Applicable Laws, Reg,ulations, procurement procidures and other Provisions of Financing Agreement - Credit number 6079-vN, period from that could have a direct and material effect on the Projecfs Financial Statements for the 1 January 2023 to 30 April2024. Joint venture of Vietnam Auditing and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company NEXIA STT Company Limited road, llh Floor, Song Da Tower, No. 165 Gu Giay 19s Floor, C'land Tower, No. 156 xa Dan II, Cau Giay district, Hanoi Nam Dong ward, Dong Da district, Hanoi Tel: (84-24) 52 670 49114921493 Tel: (84-24) 39 3s0 990 Faxi (84-24't 62 670 494 Fax: (84-24) 39 350 991 Auditors' Responsibilities Our responsibility is to express an opinion on the Projecfs compliance with the requirements, based on our procedures. We conducted our engagement in accordance with International Standard on Assurance Engagements 3000, "Assurance Engagements other than Audits or Reviews of Historical Financial Information", issued by the International Auditing and Assurance Standards Board. That standard requires that we comply with ethical requirements, plan, and perform our procdures to obtain reasonable assurance about whether, in all material respects, the Project has complied with the requirements. An assurance engagement to report on the Project's compliance with regulatory and contractual requirements involves performing procedures to obtain evidence about whether the Projecfs activities are free of material noncomptiance with the requirements. The procedures selected depend on the auditors' judgment, including the assessment of risks that the Project does not comply with the requirements and whether such noncompliance could have a direct and material financial effect on the project's Financial Statements. Our procedures included testing the compliance with the requirements that we consider necessary to provide reasonable assurance that the requirements are complied with by the 1 NHI, pany Limited Luong Thi Mai Thanh Thanh Trung Auditor Audit Practising Registratio n Crrtificate Audit No. 4551-2023-225-1 No. 0518-2023-225-l Audit Report No: 110/2024|HN-AUD/WB FMCR CPMU HH Hanoi, 23 May 2024 ,te ;T i03 Joint venture of Vietnam Auditing and Evaluation Company Limited and ilExIA STT Company Limited vietnam Auditing and Evaluation Company Limited NDOA STT Company Limited l1b Floor, Song Da Tower, No. 165 Cau Giay road, 19h Floor, C'land Tower, No. 156 xa Dan II, Hanoi Cau Giay district, Nam Dong ward, Dong Da district, Hanoi Tel: (84-24) 6267049114921493 Tel: (84-24) 39 350 990 Fax: (84-24) 62670 494 Fax: (84-24) 39 350 991 INDEPET{DENT AUDITORS' REPORT On the effectiveness of internal control over compliance wlth requirements that could have a direct and material financial effect on the Financial Statements as well as of internal control over financial reporting to: The Management Board for Forestry Projects fhe Central Project Management Unit of the Proiect'Forest Sector Modernization and Coastal Resllience Enhancement" Audit opinion We have audited, in accordance with International Standards on Auditing, the Financial Statements for the project "Forest Sector Modemization and Coasbl Resilience Enhancemenf' - Portions implemented by the Central Project Management Unit C'the Project'J implemented by the World Bank's _credits through the International Development Association C'IDA'J and counterpart funds for the period from 1 January 2023 to 30 Aptil 2OZ4 and issued the auditors' report thereon oeressing an unqualified opinion on the Financial Statements. In connection with our audit of the Projecfs Financial Statements, we also examined the effectiveness of internal control over compliance with requirements that could have a direct and material financial effect on the Financial Statements as well as of internal control over financial reporting. In our opinion, the project has maintained, in all material respects. effective _internal control over compliance with requirements that could have a direct and material financial effect on the Proiecfs Financial Statements as well as of internal control over financial reporting for the period from 1 January 2023 to 30 April2024. Basis for Opinion We conducted our engagement in accordance with International Standard on Assurance Engagements 3000. Our responsibilifi is to express an opinion on the effectiveness of internal control over compliance \ with requirements thai could hive a direct and material financial effect on the Financial Statemenb as .{iE well as internal control over financial reporting based on our examination. We are independent of the T pro:ed in iccordance with the ethical requiiements that are relevant to the audit to evaluate the effactiveness of internal controls on the compliance of the requirements that may directly and materially affect the Financial Statements as well as internal control purposes in preparation of the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 4 We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ,oint venture of Vietnam Auditing and Evaluation Company Limited and NEXIA STT Company Limited Limited Vietnam Auditing and Evaluation Company NEXIA STT Company Limited road, llh Floor, Song Da Tower, No. 165 Cau Giay 19s Floor, C'land Tower, No. 156 Xa Dan II, Cau Giay district, Hanoi Nam Dong ward, Dong Da district, Hanoi rel: (8+24) 6267049U4921493 Tel: (8a-24) 39 350 990 Fax: (84-24) 62670 494 Fa,r. (84-24) 39 350 991 Responsibilities of the Prcject Management Unit The Project Management Unit is responsible for designing and maintaining effective internal control over compliance with requirements that could have a direct and material financial effect on the Financial Statements as well as over financial reporting for the purpose of properly preparing and presenting the Financial Statements so as to minimise errors and frauds; and take responsibility for its assertions as to the effectiveness of such internal control. Auditorc' Responsibi lities Our responsibility is to express an opinion on the effectiveness of internal control over compliance vrith requirements that could have a direct and material financial effect on the Financial Statements as well as internal control over financial reporting based on our examination. Our examination was conducted in accordance with International Standard on Assurance Engagements 3000, accordingly, included obtaining an understanding of internal control over compliance with requirements that could have a direct and material financial effect on the Financial Statements as well as of internal control over financial reporting, testing, and evaluating the design and oPerating effectiveness of the internal controt, and performing such other procedures as we considerd necessry in the circumstances to obtain sufficient appropriate evidence on which to base our opinion. Because of inherent limitations of internal controt over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not to be prevented or detected on a regular basis. Also, projections of any evaluauon of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that co y become inadequate because of changes in condiUons, or that the degree of compliance with ures may deteriorate. a o * ., o N pany Limited Luong Thi Mai Thanh Thanh Trung Auditor General Audit Practising Registration Certiflcate Audit Practising Registrauon Certificate No. 4561-2023-225-1 D No.0518-2023-225-1 Audit Report No: 110/2024/HN-AUD/WB FMCR CPMU Hanoi, 23 May 2024 MINISTRY OF AGRICULTURE AND RURAL DEVETOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the Intemattonal Development Association and the Govemment of the Socialist Republic of Wetnam PORTIONS IMPLEMENTED BY THE CENTRAL PRO]ECT MANAGEMENT UNIT STATEMENT OF FINANCIAL POSITION As at 30 April 2024 As at As at Note 301412024 3ULzl2022 VND VI{D ASSETS Current assets 12,889,510,080 Cash at bank - Designated Account r0,297,L26,920 Other receivables 3 2,592,383,t60 Fixed assets 268,945,E00 4EO,366,600 Tangible fixed assets 238,945,800 391,866,600 hst 3,501,396/450 is01)9a450 Accumulatd depr*ibbon (3,262,45q650) (3,109,529,8s0) Intangible assets 30,000,000 88,500,000 Ast 264,000,000 254,000,000 ALTUn ula td a m ortig tio n (234,000,000) (17s,s00,000) Project implementation expenditures 80r632,076,O51 68,657,280,831 Project implementation expenditures 80,632,076,051 68,6s7,280,831 TOTAL ASSETS 80,901,021,851 82,027,157,511 o * + The accompanyiog notes fotm an integral paft of the frnancial statements 12 MINISTRY OF AGRICULTURE AND RURAT DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Government of the Socialbt Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENT OF FTNANCTAT pOSmON (CONTTNUED) As at 30 April 2024 As at As at Note 30l4l2024 3Ut2l2g22 VND VI{D RESOURCES Liabilities L3,492,335,614 Payables to contractors/suppliers 2.525,380,160 Other payables 4 10,966,955,454 Fund balance 80,901,021,851 68,534,821,897 IDA funds 40,L22,t27,988 34,076,622p94 Counterpart funds 40,509,948,063 34,640,657,937 Funds for fixed assets acquisition 268,94s,800 480,366,600 Foreign exchange differences (502,82s,s34) TOTAL RESOURCES 80,901,021,851 82,027 tt57 tstl Prepared by: .l a BAN W QU L CAC D o LAII NG + pI Nguyen Thi Oanh Nguyen Bich Ngoc Vich Ac@untant Accountant in charge Director Hanoi, 23 May 2024 f s \ The acampanying notes form an integral part of the financbl statemenb 1J MTNISTRY OF AGRICULTURE AND RURAL DEVELOPMEilT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the Intemab'onal Development Association and the Govemment of the Socialist Republic of Wetnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENT OF INCOME AND EXPENDITURES Period from 1 January 2023 to 30 April 2024 Period lrom ll112023 Accumulated to Accumulated to Note to30l4l2024 3tlt2l2022 30l412024 VND VI{D VND INCOME IDA funds 3 6,105,505,094 34,016,622,894 40,122,127,988 Counterpart funds 3 5,869,290,t26 34,640,657,937 40,509,948,063 11,974,793,220 68,657,280,831 80,632,076,051 EXPENDITURES Component 1: Enabling effective coastal forest management Component 2: Coastal Forest development and 37,733,045,697 37,733,045,697 rehabilitation Component 3: Generating sustainable beneflts from coastal forest Component 4: Project management, monitoring Lt,974,795,220 30,924,235,L34 42,899,030,354 and evaluation Other expenses (Bank charges) 4 !1,974,795,220 68,657,280,831 80,632,0761051 (DEFICIT)/SURPLUS OF = 1l INCOME AGAINST EXPENDITURES Prepared by: 4 ) w z a ACD z r/.. LA MNG 1 \l Nguyen Thi Oanh Nguyen Bich Ngoc ng Vich Ac@untant Arountant in charge Director Hanoi, 23 May 2Oz4 The accompanying notes form an integral paft of the frnancbl statements 74 EO t, F\ Or E= 8aE 0 lD o RTg o- o o o o N' o,' N tn F)1u1 tooo to ,.\ @ df !' o o C) qr s o ^l N b tJ4ct o i B y2 lD9|D o N @ o e5> ov-o ro'9d @ b {dtrt \o N o E f o! oi oI \o N to o (J or96r oglo to or '.o e lrloln t\ N cl G E rt tt qJ E .t a o!q t t! tn => rih 6a- a0 () o |\l F. ol o\ o o |.\ E .9 o q\ s N o d1 or I o's t o !t 01 o a B o zo E \ o (D - : ctN6 o N '5 E h s = tt E3 E E.{ dH+ 6 ('I o F. to (n fiil Rui q lLX @ i;N6. tue .S Qq g oR !o r'1 .{- o N o\ o "i roo tr B l/l = I I (h t|lA o< Jo c o ul@,o !t tt € aJ \ e tt .s Oo \ .Etr eR o lE!t2 g=> 6 '.O !iS!t O a{ o EE ES F = l,R lrJ >. o m o g- E : id,a q..igt F. F\ o @ U 5 R t: gq; HE It o F. o c.r h E, LIE\Z- = DE (J \o ss '\ laio e $ Ef $= u.E E o 6h ds s AHE g'ES = ots F! Z,Y tl o tu A 2z 88- ro'9 => (rli\j N lo ro @ N q3 il$ -8 z\ E,' \J $ Q H u,l at r.{ al' o- H"R E E* ^a) o "i (vt .\ S) rfiF titF1 @O uJ m @ |o o Q IH' 4 6' 58S CPS i X 6 !, :3 e E Nr Odefi izcSU z o G qJ s' <.9Ru.r ctl E lll iE r-\ + EP.9 d.N"F H E-e - b 0l( E E ts E EECE f; ^s .e"E -B-E HEpaBr. -E I (, E H ES U .9G H gEE:€fr H.BS = E;sSE oE ! EEdqsEd!iegB-t c3: .co t N !t E- ,! =Ef;eHEEgE; E A\ CN Q> E E Ng e IEfrE!E€EE *gHt g (J IE 6',* SE 0 ;-! ogd Fl E gE gH Eg EEiB: tE r H -o ! =ts= l- lE aYr gu I8 c) g5.A u u-gCE'EE o * 9. N '.i fgc E F SS H tHv o 6 o o- ol \J Z\I ll, ;o ooNoc Ooioro UI (o E= o ID p r\OOr(O(O o \ @rl\o(oN N.Ytt( o .\l l') o lo o (, E rl N tr 0 s ts14ct oo!-oo\ lo tl (o ooid\o o a o P.= =2 > r o(o(r\o o G t o E l ttHor!.@ Or e Q.) o !lu U Or o !n s o -c E rt !' .9 cD E @ @ lo € b .8 i> =2 r\ Or E t{ \ B d o N N o d E o o s e qr I u,t o ,t- , o O - '5 "o, t rf (J s g 6H o s lx EO NOdr I h oI F= o o h r{ N N CJ e F.O6 h s 2o ute ro tl o rRtr tt t EE ES F = =R HF dg o t uF5 IU E h 8a; tgo s -E\= = roE (r,i I (rt o r!:z g.= > aoo@ '4 -n 6 a st 2- .\ oorN ..\ Er$9 AHE g ct- ttI oG c .r} E tr{ o l o 6l (J ri@F. @(o@ t or N to o= 6h 6S -8 E ts Q qj r-E orI *E= arN I E frE E E e to z\ o .\ Pt \ iEt t r.{ IIJ q @ (o =z 58S \o o q. to \ \ 3 => EES L vl o ln E l) o6\fi ZcNU d B a.) i'l <.9-o H u.r E ll,l r\ I d.NVF i s ts oq L , E o or U g E ES H tl, I gEE (, U 9G E a, EgB t # N t ggEfi o Eg$Sd E E E c a{ i E Ee* 6 a) E! llt (-)uJ(Jza! =3EEO .o ro o '--t ll' = b'* S.U 0 E H S$ F z o l! o F 1J o- o o CL o T {\ F!t 6S -8 \) z\ cD N o c o - MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credtt number 6079-VN between the Intemationat Development Association and the Government of the Socialist Republt? of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT STATEMENIT OF DESIGI{ATED ACCOUNT Period from 1 January 2023 to 30 April2024 Account number: 1s04201037998 Account holder: The Management Board for Forestry Projects - FMCR Project Beneficiary Bank: Vietnam Bank for Agriculture and Rural Development (Agritunk) - Dong Da branch Address: No. 211 Xa DaO Dong Da distri+ Hanoi, Vieham Ftnancing Agrement: Crdit numfur 6079-VN Part A - Account Activities Note USD Balance as at 1 January 2023 439,484.72 Add: Total amounts advanced to the Designated Account 5 6,237,273.58 Less: Total amounts withdrawn from the Designated Account (6,108,669.74) Amounts refunded to the World Bank 5 (568,028.56) Balance as at 30 April 2024 Paft B - Account Reconciliation Amounts advanced from the World Bank 2,059,L60.26 Addr Amounts replenished by the World Bank 5 6,237,2L3.58 Less: Amounts recovered by the World Bank (7,728,34s.28) Amounts refunded to the World Bank 5 (s58,028.s6) Balance of the Designated Account as at 30 April 2024 \ .A Plr :ta Prepared by: BAN '/. a AU # v 'il/\/ o[cAc MNG o (--'--'- oI Phan Thi Hong Hoa Nguyen Bich Ngoc g Vich Accountant Accountant in charge Director Hanoi, 23 May ZOZ4 The accompanying notes form an integral part of the financial statements t7 -- - o (J Nt,t@ 6 c qqu-1 qqa t\a IE di ..i ni ui o ^.i a{o rt m oo @ @oF. to ro \o d N & I I s I \i E co nq ch N r,| ..! 14 r'1 q, ut o .{..; o @t o! ro drl\@ E @or al !_o or (oNN \l_ @ s t(, o@ \ON d N ,, \ ,o I OJ ,9 ! E o oo N NNN ooo E .9 o, \ o N NNN a t G o E o oo b6 o {, J 9r- -!o E-E z (, o- \l s (u 2 h I 4-' ol rgf c a o- // $ s o5 \B 6 Or\t LnN Nra @t r/r q i l,lN Lr, H to NE t IE .\r @(o o!m !_o lnH ln r o rno\ @ \l. 09 B s N o aa rn @ a{ ch o <,- <- (h a\t N @ \r @ i (o N (h \o i ro \o ra @ ch o (o N N i H ao h E F i ur N o rn \o fn @ @ \t_ or a! i cD !- : lrl la o- (,N rr- o o o or N N a'r ch @ \t o @ ao o F. lo 6 \ s\ > >NN>N ^lN N NN ! E o OJ o o c EERFE .9 cl aio.',roNoNrriio NoNNo OJ E E8 -r- N buS'S3 CI o o o ql >- r ,E F E\ A IE 3 G t o 63X66666666 36663 .c, F o 0) -o ! o 9*E iEn ,E z caahoia'.1 lY|\rlri|rONCO ai 6.o rn i'i o (n (n.D \l !' t rr C OiNlY) rYt ro o E fEE iJ .t d d d d. d. d. d. d d d. d- o oooo ooouuo EE:=E d. d. d. d (Juu uu t! o- 0., EEH E S&- P = ==ttt==E=:E if iI iI iI iI tL rL It i! LL r! tL u- rL tL u- F 0 - o- o-\- = MINTSTRY OF AGRICULTURE AND RURAL DEVETOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Government of the Socialist Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PRO]ECT MANAGEMENT UNIT NOTES TO THE FINANCIAL STATEMENTS Period from 1 January 2023 to 30 Aptil2024 1. Description ofthe Project The Project "Forest Sector Modernization and Coastal Resilience Enhancement" ("the Projecy') is implemented by the Ministry of Agriculture and Rural Development under Financing Agreement - Credit number 6079-VN dated 03 August 2018 signed between the Government of the Socialist Republic of Vietnam and the International Development Association ("IDA"). According to the Financing Agreement, the World Bank provided grants through IDA with a total value of 109,500,000 special drawing rights (SDR), equivalent to USD150,000,000 to the Project. The Projecfs overall objective is to improve coastal forest management in the project provinces to enhance coastal resilience to extreme weather events and sea level rise. According to Decision No. 5995/QD-BNN-HTQT dated 29 December 2023 of the Ministry of Agriculture and Rural Development on adjusting investment in the Project "Forest Sector Modernization and Coastal Resilience Enhancemenf', the specific development goals of the Project are changed as follows: Effective organization of resource management; Plant, take care and manage forests effectively to increase the ability to respond to climate change; and Create mechanisms to encourage households, communities, businesses, and local governments to participate in the sustainable management and protection of existing resources. The total revised investment budget of the Project "Forest Sector Modernization and Coastal Resilience Enhancemenf' under Decision No. 1387/QD-TT9 dated 23 October 2018 of the Prime Minister was USD195 million, of which IDA fund was USD150 million, local and national counterpart funds were USD45 million. According to the Projecfs overall plan under Decision No. 2198/QD-BNN-KH dated 13 June 2019 of the Ministry of Agriculture and Rural Development. the total investment funds for the portions implemented by the Central Project Management Unit was VND2,073,229 million, including IDA funds and counterpart funds of VND1,765,133 million and VND308,096 million, respectively' According to the Financing Agreement, the Project was implemented no later than 90 days after 03 August 2018 (signing date of Financing Agreement) and expected to be completed on 31 December 2023 (credit closing date). The Project was granted a disbursement grace period of 4 months, until 30 April2024. According to Decision No. 5996/QD-BNN-HTQT dated 29 December 2023 of the Ministry of Agriculture and Rural Development on adjusting investment in the Project "Forest Sector Modernization and Coastal Resilience Enhancement", the total investment funds of the PQect was USD95 million, of which IDA funds was USD65 million, Iocal and national counterpart funds were USD30 million. The portions of the Project implemented by the Central Project Management Unit was provided with a total investment fund of USD5,046 million, including USD2.490 million from IDA funds and USD3.556 million from counterpart funds. Under this Decision, the Project was extended to 2026 for activities disbursed from counterpart funds of the Government, 19 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement,, Under Financing Agreement - Credit number 6079-VN between the International Development Assocbtion and the Government of the Socialist Republrt of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT Implementing agencies: > National level: including central Project Management unit of the project "Forest sector Modernization and @astal Resilience Enhancemenf' under the Management Board for Forestry Projects - Ministry of Agriculture and Rural Developmenq and the Project Management Unit of Component 1 under Vietnam Forest Administration -Ministry of Agriculture and Rural Development. Provincial level: including 08 provinces/cities which are Quang Ninh, Hai Phong, Thanh Hoa, Nghe An, Ha'l-inh, Quang Binh, Quang Tri and Thua Thien Hue. The Project consists of the following components: > Component 1: Enabling Effective Coastal Forest Management. > Component 2: Coastal Forest Development and Rehabilitation. > Component 3: Generating Sustainable B€nefits from Coastal Forest. > Component 4: Project Management, Monitoring and Evaluation. 2 Summary of significant accounting policies The significant accounting policies, which have been adopted by the Project Management Unit in the preparation of the Financial Statements, are as follows: Reporting currency The Statement of Financial Position, the Statement of Income and Expenditures, the Statement of Sources and Uses of Funds, and the Statement of Disbursements by Category are expressed in Vietnam Dong CVND'). The Statement of Designated Account and the Statement of Withdrawals are expressed in United States Dollar ('USD'), in accordance with the requirements of the World Bank. Basis for pr€paration of the Financial Statements The Financial Statements are prepared and presented by the Project, in accordance with requirements of the World Bank ['WBt, complying with Circular No. 79I2019rIT-BTC ('Circular 79') datd 14 ) November 2019 issued by the Ministry of Finance guiding the accounting regime applicable to public investment project management boards. This basis of accounting is considered appropriate to the ( t operations of the Project by management. The accounting policies have been consistently applied by the Project during the period and are consistent with those used in the previous year. \ Funds and Expenditures IDA funds and counterpart funds are recorded on the basis of accepted receipt - payment vouchers or withdrawal applic.tions from the State Treasury for actual disbursements until the end of 30 April 2024. The disbursement of funds by category is recognised on the cash basis. Exp€nditures are recognised on an accrual basis. 20 TTIINISTRY OF AGRICULTURE AND RURAT DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" lJnder Financing Agreement - Credit number 6079-VN between the Intemational Development Association and the Government of the Socialist Republic of Vietnam PORNONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT Foreign currency translation Transactions arising in foreign currencies other than Vietnam Dong ("VNDJ are converted into VND using exchange rates ruled by the Project bank at the transaction dates. The monetary assets and liabilities denominated in foreign currencies are re-evaluated using the transfer buying exchange rates ruled by the commercial bank at the balance sheet date. Foreign exchange differences are taken up in the Statement of Sources and Uses of Funds. Fixed assets and depreciation and amortization Fixed assets are recognised at cost less accumulated depreciation/amortisation and depreciated or amortized using the straight-line method. In which, depreciation rate is in accordance with Circular No. 45/2018ffT-BTC dated 7 May 2018 by the Ministry of Finance. Amortization rate is in accordance with Decision No, 987/QD-BNN-TC dated 20 March 2020 by the Ministry of Agriculture and Rural Development. Designated aooount The Designated account is a deposit account in United States Dollar opened at Vietnam Bank for - Agriculture and Rural Development (AgriBank) Dong Da branch to serve the Projecfs activities - Portions implemented by the Central Poect Management Unit. Payments made via the Designated Account are for eligible expenditures of the Project in accordance with provisions of Financing Agreement - Credit number 6079-VN and the World Bank's requirements. / $ \ 27 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" under Financing Agreement - Credit number 6079-VN between the Intemational Development Associahbn and the Govemment of he Socialist Republic of Wetnam PORNONS IMPLEMENTED BYTHE CENTRAL PROJECT MANAGEMENT UNIT 3. Other receivables As at As at 30l4l2024 3U1212022 VND VND Other receivables related to IDA funds qualified for 2,227,731,538 increasing ancome but received in the next year (i) Other receivables related to counterpart funds qualified for 364,65t,622 increasing income but received in the next year (ii) 2,592,383,t60 (i) Details of Other receivables related to IDA funds qualifid for increasing in@me but r&eivd in the nert year Accumulated to Accumulated to 30l4l2024 3tlL2l2022 VND VND IDA funds recognised in the Statement of Income 34,016,622p94 40,122,127,988 and Expenditures IDA funds recognised in the Statement of Sources (40,122,t27,988) (31,788,891,355) and Uses of funds other receivables related to IDA funds qualified for 2,227,73t,538 increasing income but received in the next year (ii) Details of other receivables rclad to @unterprt funds qualifid for incrasing in@me but rffiivd in the next yean Accumulated to Accumulated to 30l4l2024 3ut2l2022 VND VND Counterpart funds recognised in the Statement of ,10,509,948,063 34,640,657,937 Income and Expenditures Counterpart funds recognised in the Statement of (40,s09,948,063) (34,276,006,31s) Sources and Uses of funds Other receivables related to counterpart funds qualified for increasing income but received in 364,651,622 the next year 22 MII{ISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement Credit number 6079-VN between the Intemational - Development Association and the Govemment of the Socialist Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT 4. O,ther payables at As at As 30l4l2024 3U1212022 VI{D VND Temporary receipts from IDA funds IDA funds will be disbursed to the Provincial Project Management Units in the amended period/month of the next year Thanh Hm Provincial Project Management Unit Quang Binh Provincial Project Management Unit 51151769s0 Nghe An Provincial Project Management Unit Ha Tinh Provincial Projfft Management Untt Quang Tri Provincial Proj&t Management Unit 2,383,228,000 7,498,404,950 Remaining IDA funds after being disbursed to the Provincial Project Management Units in the amended 3,40t,547,504 month of the next year Total temporary receipts from IDA funds (iii) 10,899,952,454 Other payables related to the Projecfs expenditures 67,003,000 (drinking water, petrol, insurance) (iv) 10,966,955,454 (iii) Details of the total temporary receipts from IDA funds were as follows: Accumulated to Accumulated to 30l4l2024 3Utzl2022 VND VND Funds received from the World Br,nk (Refer to Note 5) 364,406,59Lt743 230,073,217,035 IDA funds spent for expenditures of the Central Project (40,122,127,988) (31,788,891,356) = .tl Management Unit (Refer to Note 6) IDA funds disbursed to other Provincial Project (324,284,463,755) (t87,3W,373,225) Management Units (Refer to Note 6) I\ s 10,899,952,4s4 0l (iv) Reconciliation of other payables related to the Projecfs expenditures was as follows: = Accumulated to Accumulated to 30l4l2024 3L11212022 VND VND Total expendifures recognised in the Statement of Income 80,632,075,051 68,557,280,831 and Expenditures Total Uses of funds recognised in the Statement of (80,532,075,0s1) (66,064,897,671) Sources and Uses of funds Payables to contractors/suppliers (2,52s,380,150) 57,003,000 23 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement,, Under Financing Agreement - Credit number 6079-VN between the Internatbnal Development Association and the Government of the Socialist Repub/ic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT 5. Funds received from the World Bank Period from L|U2O23 Xo 30l4l2024 Accumulated to 30 I 4 I 2024 Original Original amount Equivalent to amount Equivalent to USD VND USD VND Advances to the Designated Account 6,237,2L3.58 147,965,856,529 15,353,146.56 359,899,743,589 (*) Reimbursements to the Designated Account 796,897.29 18,139,329,975 5,237,273.58 r47,965,856,529 16,150,043.95 378,039,073,564 Refunds to the World (s68,028.s6) (13,632,481,821) (s68,028.s6) (t3,632,48t,er) Bank (*x) 5,669,185.02 t34,333,374,708 15,582,015.39 354,406,59L,743 (x) Details of IDA funds received through the Designated Account for the period from 1 January 2023 to 30 April 2024 were as follows: Receipb under withdrawal applications Period from I I U 2023 to 30 I 4 I 2024 Original amount Equivalent to No, Date USD VI{D FMCR 28 - IDA 1010112023 1,604,183.28 37,361,428,597 FMCR 29 - IDA t010u2023 280,545.89 6,533,973,778 FMCR 32 . IDA L910s12023 929,569.37 2t,649,670,527 FMCR 36 - IDA 1910912023 469,819.15 7t,374,32L,622 = t l FMCR 38 - IDA 2tlttl2023 t,424,967.54 34,742,222,258 FMCR 40 - IDA 261t212023 1,528,128.35 36,904,299,653 k 6,237,2t3.58 147,965,856,529 I (x*) These represented amounts refunded to the World Bank on 2 April 2024. 0l 24 MINISTRY OF AGRICUTTURE AND RURAL DEVELOPMENT Project "Forest Sector Modernization and Coastal Resilience Enhancement" Under Financing Agreement - Credit number 6079-VN between the International Development Association and the Government of the Socialist Republic of Vietnam PORTIONS IMPLEMENTED BY THE CENTRAL PROJECT MANAGEMENT UNIT 6 IDA funds disburced by the Project Management Unit Period from U ll2023 to 30l412024 Accumulated to 30 I 4 I 2024 Original Original amount EquiYalent to amount Equivalent to USD VI{D USD VND IDA funds spent for expendihrres of the Central Project 349,669.44 8,333,236,632 L,727,435.08 40,722,7?7,988 Management Unit IDA funds disbursed to other Provincial Project 5,759,000.30 136,900,090,530 13,860,580.31 324,284,463, /55 Management Units Quang Ninh Provincial Proj&t 1,912359.74 45,066,812,515 1951,369.39 92,895014,436 Management Unit 7he Proj&t Management Unit 469,266.09 r1,301892320 1,548,61 7.30 363474O96s of Hai Phong city Thanh Hoa Provincial Proj&t 5%,U1.92 14,094,236515 2,42q89.14 s6s94,236,51s Managtement Unit Nghe An Provincial Projet r84,221.59 4,329;8q914 32O775.83 2416986732 Management Unit Ha lTnh Provincial Project L2A 490.07 2q376,149,000 1,88r,64.17 44,281,2050U) Management Unit Quang Einh Proinctal Prq:*t 21,855 142,630 1,581,869.75 35,801,412807 93O484.63 Management Unit Quang Tri Provincial Projet 302346.06 1,445341.67 33,32&495000 l"lanagement Unit 48q%9,000 Thua Thien Hue Provincial 154 780.10 3,693 522,536 71O762.06 16593,372200 Projed Management Unit 6,108,669.74 t45,233,327,762 15,582,015.39 364,406,59r,743 Prepared by: by ,i A a z OUAN o CAC DU 7-\ LAM N o Phan Thi Hong Hoa Nguyen Bich Ngoc --r+1nn{.ffivicn :-Ditdor Acmuntant Accountant in charge Hanoi, 23 May ZOZ4 25 o o\ PSR E H d 5'h' oi @S\ .l' a ln ln or rrt\\ ao l\o (,t t! o @ o\ pRN' H' $. tt F N\ il' o \o N s 's I q) s irE; o EiHE b tt 5! s TNN g $ E @ lo d $ G !t o i! CI (, ts or N H$.8'$ d o o tl, t ll c .=c E EE 9 o ot N BS$ a!\ I a + t oi lo \ e (t oI o !ciE e-E !" @ ra o BEg Ri ^ct HE Irt o ,\l rEt ne t r{ 5< = Px E o H T_E t !> t" I FE r in o {,, gE! 6o t0 h tR .s Er ::N E EE s ll: tl irEs E$ E E E EE a EE;E r- E E E !j.5 5! - EE$ zoJSz.P.d HE IE -gP @ TNN tt (n o oEs .PE ?, = (o g.$$ ul o la HEi H; @ a! rn =5E A (o $E.E. o tD Eci=i \ EEE 5t* ia : E E Z fr: o z OJ pE6 S H Eo' 4, I r gEsa g! =.E EE = A ! F tr > (D gIJ ,i1 .,. Es dER ( E IH P a * E 6r c {, EEfr*Eueg- t o ; fi $$ E 5E .E Et il U gIeggrgEEg*E,E = 'l e E$gggg, E F$$ E EE o z r{ ll ^J rf c.r r"r &i Fi la N { Or lo ( rO ro n! ql PS R H F tt o rn { \l- o H'N 3. d $ tol o nt rO o o S' d ci o t c\ \ Fi S' TE o F n| fi| a.) N F. o or 6 m @ N s H nl oi h' r\' .l' r... 't tr} n r{ o N {r} t Go N s I I q.) ipE; !989 s o t tl E EESi 5E b L E o o *N$ G tr a e o: o o o N EI lo N HF lo fr} a ur FI o I f z !t a, E E*dE s6E 6r !o @ (o or N @ o @ BS'$ h I') \ B \o B t a\r Go o to or Q QJ z o (J ;rE t @ lD Ol o o s$$EH o o \e o (, t *'E it GO N l,o N NN la o N o tr} g=EE = t ]i o <'Egr I .s 6 z 3 t6' lLt .N !! B \ UN E ! II,I E 1 lJ I :gE b ts o<* Es ilH eo g >.9 o.. G I .1, oS llJ ..r h N:- iEEE E9Eg lh o ! .GF :-trtr S gJY g E E €N E Esf;-Hrgg* E;.8: eEEE E E ;et c, -=EE? = e $s E Eq E E o I E fl $$ E 55 Et il E rSr., i ?.xPe g gfs, = tr !- I r tE H E; EE EBiEEEEEE EEE= E E \\ rn ei fti H S$ F o z t\ ..j