THE NATIONAL ASSEMBLY | | THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness |
No. 16/2023/QH15 | | |
LAW ON PRICE[1]
Pursuant to the Constitution of the Socialist Republic of Vietnam;
The National Assembly promulgates the Law on Price.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Law provides rights and obligations of agencies, organizations, individuals and consumers in the field of price and valuation; price management and regulation by the State; summarization, analysis and forecasting of market prices; price database; valuation; and specialized inspection of prices and examination of the observance of the laws on price and valuation.
Article 2. Subjects of application
This Law applies to organizations and individuals trading in goods or providing services; consumers; state agencies; and other organizations and individuals involved in activities in the field of price and valuation in the Vietnamese territory.
Article 3. Application of the Law on Price and relevant laws
1. In case the Law on Price contains provisions on price different from those of other laws promulgated before the effective date of the Law on Price, such provisions of the Law on Price will prevail, except the case specified in Clause 4 of this Article.
2. In case other laws promulgated after the effective date of the Law on Price are intended to contain special provisions on price management and regulation different from those of the Law on Price, it is necessary to specify issues that must comply or are not required to comply with the Law on Price, and issues that must comply with such other laws’ special provisions.
3. In case other laws promulgated after the effective date of the Law on Price additionally specify goods and services to be priced by the State, regulatory impact assessment must be carried out, such goods and services must satisfy at least one of the criteria specified in Clause 1, Article 21 of this Law; and at the same time it is necessary to clearly define the pricing competence and responsibility and specify the form of pricing, pricing grounds and methods, whether or not the pricing documents are issued in accordance with or not in accordance with the Law on Price, and issues that must comply with such other laws.
4. The pricing by the State of a number of goods items shall be carried out in accordance with relevant laws as follows:
a/ Land prices must comply with the land law;
b/ House prices must comply with the housing law;
c/ Electricity and electricity-related service prices must comply with the electricity law;
d/ Medical examination and treatment service prices must comply with the medical examination and treatment law;
dd/ School fees and service prices in the fields of education and training and vocational training must comply with the laws on education, higher education and vocational education;
e/ Royalties for the exploitation and use of works, phonograms and video recordings in case of copyright and related rights limitation, compensations for the patent use right licensed under compulsory decisions in case patent use right transferees and exclusive patent use right holders cannot reach compensation agreements, and compensations for the plant variety use right licensed under compulsory decisions must comply with the intellectual property law.
Article 4. Interpretation of terms
In this Law, the terms below are construed as follows:
1. Goods means products which can be exchanged, purchased or sold on the market.
2. Services means intangible goods of which the production and consumption processes are inseparable.
3. Essential goods and services means goods and services that are necessary to meet basic needs of humans, and main raw materials, fuels, materials and services for production and circulation as suitable to the socio-economic reality in each period.
4. Market price means the price of a goods or service formed on the supply and demand basis and decided by market determinants during a given period of time and within a given space.
5. Market price level means the average of common prices of a goods or service or a group of goods or services on the market during a given period of time and within a given space, which is reflected through the consumer price index (CPI) or producer price index (PPI) (if any).
6. Total cost of a goods or service comprises:
a/ Production cost of such goods or service; buying price of such goods or service paid by an organization or individual engaged in commercial activities; or import price of such goods;
b/ Circulation cost of such goods or service.
7. Price constituents include practical total cost; profit(s) (if any) or loss(es) (if any); and financial obligations specified by law.
8. Price regulation means application by competent state agencies of measures provided in this Law to mitigate adverse impacts of the market economy in order to protect lawful rights and interests of consumers, organizations and individuals trading in goods and services, and the State, and achieve the objectives of inflation control and socio-economic development.
9. Price valorization means implementation by the State of solutions and measures provided in this Law to stabilize goods and service prices upon occurrence of abnormal price fluctuations during a given period of time.
10. Abnormal price fluctuation means a phenomenon of the market price of a goods or service rising or falling to an unreasonable level compared to that of a previous given period of time.
11. Pricing means a process whereby competent state agencies or organizations and individuals trading in goods or providing services determine prices of such goods or services.
12. Price plan means a written explanation about grounds for pricing or adjustment of goods or service prices or price constituents.
13. Price negotiation means a method of reaching agreement among organizations trading in goods or providing services on goods or service buying or selling prices, with a state agency acting as the intermediary in accordance with this Law.
14. Price declaration means sending by organizations trading in goods or providing services in cases subject to price declaration specified in Clause 2, Article 28 of this Law of price notices to competent state agencies after carrying out the pricing or price adjustment to serve the summarization, analysis and forecasting of market prices.
15. Price listing means public notification of buying prices or selling prices of goods or services by organizations and individuals trading in goods or providing services in order to facilitate the price observation and noticing by customers and competent state agencies.
16. Valuation means provision of consultancy by a valuation enterprise or valuation council on the determination of value of an asset subject to valuation at a given place and a given time for a certain purpose according to the Vietnamese valuation standards.
17. Assets subject to valuation include assets, goods and services for which valuation is carried out on an on-demand basis at the request of agencies, organizations or individuals or in cases where valuation is required by law.
18. Valuation deed means a document issued by a valuation enterprise or its subsidiary after completing the valuation to notify the customer and related organizations and individuals (if any) as stated in the valuation contract of the value of the asset subject to valuation and principal contents of the valuation report.
19. Valuation report means a document presenting the valuation process and serving as a basis for formulation of a valuation deed by the valuation enterprise or a notice of valuation results by the valuation council, whereby:
a/ In case of valuation as a commercial service, the valuation report shall be made by a valuer, present the valuer’s opinions and be considered and approved by the at-law representative of the valuation enterprise or the head of the valuation enterprise’s subsidiary;
b/ In case of valuation by the State, the valuation report shall be made by a valuation council, present opinions of the council’s members and unanimous vote of the council.
20. Notice of valuation results means a document issued by a valuation council after completing the valuation to notify the agency, organization or individual competent to establish the valuation council of the value of the asset subject to the valuation and principal contents of the valuation report.
21. Collusion in pricing or valuation means acts of exchanging opinions to reach agreement on falsification of prices of goods or services or value of assets subject to valuation for the self-seeking or profiteering purpose.
Article 5. Principles of price management and regulation by the State
1. To manage and regulate prices under the market mechanism in line with socio-economic development policies in each period; to ensure publicity, transparency and respect for the self-pricing right and price competitiveness of organizations and individuals trading in goods or providing services in accordance with law.
2. To protect lawful rights and interests of consumers, organizations and individuals trading in goods or providing services, and interests of the State.
3. To contribute to stabilizing macro-economy, ensuring social security and sustainable development; to promote the mobilization of social resources for the provision of public services; to adopt price policies suitable to areas with difficult socio-economic conditions or exceptionally difficult socio-economic conditions and other cases specified by law.
Article 6. Disclosure of price and valuation information
1. State agencies and their attached units shall disclose the following:
a/ Guidelines, schemes and reports on price management and regulation measures approved by competent state agencies; legal documents on prices;
b/ Documents on pricing of goods and services on the list of goods and services to be priced by the State, except national reserve goods;
c/ The list of valuation enterprises eligible for provision of valuation services and valuers; the list of valuation enterprises suspended from providing valuation services or having certificates of eligibility for provision of valuation services revoked; the list of persons having their valuer certificates revoked.
2. Organizations and individuals trading in goods or providing services shall disclose the following:
a/ Specific prices of goods and services that they have priced by themselves within price brackets, maximum/minimum prices set by competent state agencies;
b/ Prices of goods and services subject to price declaration under Clause 2, Article 28 of this Law;
c/ Prices of goods and services subject to price listing.
3. Valuation enterprises shall disclose the following:
a/ Lists of their and their subsidiaries’ valuers;
b/ Basic information on their operation, including certificates of eligibility for provision of valuation services and number of annually issued deeds;
c/ Their valuation service price tables.
4. Agencies, units, organizations and individuals responsible for disclosing information specified in this Article shall ensure accuracy, truthfulness and timeliness of, and take responsibility for, disclosed information. The disclosure is not applicable to information on the list of state secrets and information that may not be disclosed in accordance with law.
The provision of information and communication about price policies and regulations and price management and regulation mechanisms shall be carried out in an objective and honest manner in accordance with law.
5. The disclosure of information specified in this Article shall be carried out the form of publication on websites (if any) of agencies, units, organizations and individuals or other appropriate forms. For the cases specified at Point b, Clause 1 of this Article, information shall be disclosed in the form of sending documents to related agencies, units, organizations and individuals and updating to the price database; information specified at Points a and b, Clause 2 of this Article shall be disclosed in the form of updating to the price database.
Article 7. Prohibited acts in the field of price and valuation
1. State management agencies in charge of price and valuation; and persons holding positions or having powers in these agencies as defined by the anti-corruption law may not:
a/ Intervene, beyond the ambit of their functions, tasks and powers provided by law, in the exercise of rights and performance of obligations by organizations and individuals trading in goods or providing services and consumers in the field of price and organizations and individuals engaged in valuation;
b/ Intentionally disclose or use price information provided by organizations and individuals trading in goods or providing services in contravention of regulations of competent state agencies;
c/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking or profiteering purposes; commit collusion in prices and valuation.
2. Organizations and individuals may not:
a/ Spread or provide untruthful or inaccurate information on the socio-economic situation, leading to confusing market information and goods and service prices;
b/ Commit price frauds by intentionally changing without prior notice to customers commitments in transactions regarding the time, place, purchase and sale conditions, transport and payment modes; quality, quantity, functions and utilities of goods or services at the time of goods delivery or service provision;
c/ Take advantage of a state of emergency, an incident, a natural disaster or an epidemic to increase selling prices of goods or services not in conformity with changes in total costs as compared to normal conditions for profiteering purposes;
d/ Obstruct price management and regulation and valuation activities of competent state agencies;
dd/ Make and provide counterfeit valuation deeds or use counterfeit valuation deeds for the purposes specified in Clause 4, Article 55 of this Law;
e/ Make and provide valuation deeds while failing to satisfy conditions for provision of valuation services or use such deeds for the purposes specified in Clause 4, Article 55 of this Law; sign valuation deeds or reports while not being valuers;
g/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking purposes; commit collusion in prices and valuation.
3. Valuation enterprises may not:
a/ Commit unfair competition acts as specified by the law on competition; provide inaccurate information on their valuers’ qualifications, experience and capacity to provide services and their own experience and capacity;
b/ Provide valuation services to their affiliated persons in accordance with the law on enterprises;
c/ Make inaccurate and untruthful declarations; forge dossiers for registration for grant or re-grant of certificates of eligibility for provision of valuation services, or dossiers for practice registration of their valuers;
d/ Issue blank valuation deeds;
dd/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking or profiteering purposes; commit collusion in prices and valuation.
4. Valuers may not:
a/ Provide inaccurate and untruthful information on their qualifications, experience and ability to provide services and experience and capacity of their valuation enterprises;
b/ Forge, lease, lend or use their valuer cards in contravention of this Law and relevant regulations;
c/ Make valuation deeds and reports in personal capacity;
d/ Sign valuation deeds and reports beyond their professional expertise or in contravention of state agencies’ notices of their permissible fields of practice; sign valuation deeds and reports while failing to satisfy the conditions for practice registration specified in Clause 1, Article 45 of this Law;
dd/ Carry out valuation for affiliated persons of their valuation enterprises in accordance with the law on enterprises;
e/ Make blank valuation reports or documents relevant to valuation activities according to Vietnamese valuation standards;
g/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking or profiteering purposes; commit collusion in prices and valuation.
5. Valuation councils may not:
a/ Direct or intervene in valuation activities, thereby affecting the professional independence of their members for self-seeking purposes;
b/ Make blank valuation result notices or blank valuation reports;
c/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking or profiteering purposes; commit collusion in prices and valuation.
6. Members of valuation councils may not:
a/ Make blank documents relevant to valuation activities according to Vietnamese valuation standards;
b/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking or profiteering purposes; commit collusion in prices and valuation.
7. Valuation clients and third parties named in valuation contracts may not:
a/ Intentionally provide false information on assets subject to valuation;
b/ Use expired valuation deeds; use valuation deeds not for the valuation purpose in association with assets subject to valuation and quantity of such assets as stated in valuation contracts;
c/ Buy off, give bribes to, collude or reach agreement with, one another to falsify goods or service prices or value of assets subject to valuation for self-seeking purposes; commit collusion in prices and valuation.
8. Agencies, organizations and individuals may not issue documents providing forms or conditions to inhibit operation of valuation enterprises and valuers in contravention of this Law.
Chapter II
RIGHTS AND OBLIGATIONS OF ORGANIZATIONS AND INDIVIDUALS TRADING IN GOODS OR PROVIDING SERVICES AND CONSUMERS IN THE FIELD OF PRICE
Article 8. Rights of organizations and individuals trading in goods or providing services
1. To price, and adjust prices of, goods or services they produce or provide, except those on the list of goods and services of which the specific prices are set by the State; to be considered for application of pricing principles, bases and methods set out by the State for pricing their goods or services.
2. To decide on buying and selling prices of goods or services they produce or provide for which competent state agencies promulgate price brackets, maximum or minimum prices in conformity with bases and principles for, and methods of, pricing goods and services provided in this Law.
3. To participate in the development of, and connect and share information into, the price database.
4. To reduce selling prices of goods or services without being regarded as violating the law on competition and law on anti-dumping of imports, while having to list both old and new prices and the sale-off duration for the following:
a/ Fresh and live goods;
b/ Goods in stock;
c/ Seasonal goods or services;
d/ Goods or services for sales promotion in accordance with law;
dd/ Goods or services in case of enterprises’ business suspension, bankruptcy, dissolution, relocation, or change of production or business lines;
e/ Goods or services involved in the implementation of the State’s price valorization policies.
5. To propose competent state agencies to consider and adjust prices of goods or services they produce or provide on the list of goods and services to be priced by the State.
6. To get access to information on the State’s price policies and price management and regulation measures.
7. To complain about, denounce, or initiate lawsuits against, acts showing signs of violation of the law on price; to request organizations and individuals to pay compensations for damage caused by their violations of the law on price in accordance with law.
Article 9. Obligations of organizations and individuals trading in goods or providing services
1. To work out plans on prices or reports on detailed assessment of constituents of prices of goods or services or promptly, accurately and fully provide relevant data and documents at the request of competent state agencies to serve the pricing or application of other price management and regulation measures in accordance with this Law.
2. To abide by pricing documents and price valorization measures of competent state agencies.
3. To declare goods or service prices in accordance with law.
4. To list goods or service prices in accordance with law.
5. To reduce prices of goods or services they produce or provide in accordance with tax and charge exemption or reduction policies in support of consumers.
6. To disclose information on goods or service prices in accordance with law.
7. To promptly settle all complaints about prices of goods or services they produce or provide; to pay compensations in accordance with law for damage caused by their violations of the law on price.
Article 10. Rights of consumers
1. To choose and reach agreements on prices when buying goods or services, except goods and services of which the specific prices are set by the State.
2. To get access to information on the State’s price policies and price management and regulation measures.
3. To request organizations and individuals trading in goods or providing services to provide information on prices, quality and origin of goods or services, and invoices thereof in accordance with law.
4. To propose state agencies with the pricing competence to consider and adjust prices of goods or services priced by the State when price constituents change.
5. To complain about, denounce and initiate lawsuits or request social organizations to initiate lawsuits in accordance with this Law, the law on protection of consumer interests and other relevant regulations.
Article 11. Obligations of consumers
1. To pay for goods or services at agreed prices or specific prices set by the State when buying such goods or services.
2. To inform state management agencies in charge of prices, and related organizations and persons of acts showing signs of violation of the law on price upon detecting them.
Chapter III
TASKS AND POWERS OF STATE MANAGEMENT AGENCIES IN CHARGE OF PRICES AND VALUATION
Article 12. Contents of the state management of prices and valuation
1. Promulgating and organizing the implementation of legal documents
2. Managing and regulating prices by the State.
3. Synthesizing, analyzing and forecasting the market; building and operating the price database.
4. Managing valuation activities; organizing the State’s valuation activities.
5. Managing professional training and retraining in price and valuation.
6. Inspecting and examining the law observance and handling of price and valuation-related violations.
7. Settling complaints and denunciations in the field of price and valuation.
8. Undertaking international cooperation on price and valuation.
Article 13. Tasks and powers of the Government
1. To perform the unified state management of price and valuation.
2. To promulgate legal documents on price and valuation according to its competence.
3. To submit to the National Assembly Standing Committee for consideration and adjustment the list of goods and services subject to price valorization and the list of goods and services priced by the State.
4. To specify and adjust essential goods and services subject to price declaration under Point d, Clause 2, Article 28 of this Law.
5. To decide on, and organize the implementation of, price management and regulation measures in accordance with this Law; to assign tasks and delegate powers and responsibilities to carry out contents of the state management of price and valuation and other tasks falling under its competence.
Article 14. Tasks and powers of the Ministry of Finance
1. To act as the focal agency assisting the Government in performing the unified state management of price and valuation.
2. To promulgate according to its competence, or submit to competent agencies and persons for promulgation, legal documents on price and valuation; to coordinate with other ministries, ministerial-level agencies, and provincial-level People’s Committees in formulating legal documents on price.
3. To submit to the Government for submission to the National Assembly Standing Committee for consideration and adjustment the list of goods and services subject to price valorization and the list of goods and services to be priced by the State on the basis of proposals of line ministries, line ministerial-level agencies, and provincial-level People’s Committees.
4. To submit to the Government for promulgation and adjustment the list of essential goods and services subject to price declaration under Point d, Clause 2, Article 28 of this Law on the basis of proposals of line ministries, line ministerial-level agencies, and provincial-level People’s Committees.
5. To submit to the Government for consideration and decision price valorization policies on the basis of proposals of line ministries, line ministerial-level agencies, and provincial-level People’s Committees; to organize price valorization as assigned by the Government.
6. To price goods and services falling under its competence on the list of goods and services to be priced by the State; to set out the common pricing method applicable to goods and services to be priced by the State and guide the implementation thereof under Clause 2, Article 23 of this Law.
7. To receive goods and service price declaration forms according to its competence.
8. To organize price negotiation for goods and services in sectors and fields under its management.
9. To organize the market price summarization, analysis and forecasting; to apply information technology in developing and operating the national price database.
10. To perform the state management of valuation, covering the following tasks:
a/ Promulgating Vietnamese valuation standards;
b/ Providing training, retraining, updating of knowledge, and grant of certificates of professional valuation skills for valuers and persons engaged in the State’s valuation work;
c/ Providing the examination for, and grant, management, deprivation for a definite time, and revocation of, valuer cards.
d/ Granting, re-granting or revoking certificates of eligibility for provision of valuation services; suspension of the provision of valuation services;
dd/ Managing professional practice of valuers;
e/ Managing operation of valuation enterprises; performing the state management of professional valuation associations in accordance with law; providing the evaluation of operation of valuation enterprises.
11. To organize the State’s valuation activities in fields and sectors falling under its management in accordance with law.
12. To undertake international cooperation on price and valuation.
13. To perform the functions of specialized inspection of price and valuation in accordance with the law on inspection.
14. To examine the law observance and handling of price- and valuation-related violations according to its functions, in fields under, and within the scope of, its state management of price and valuation.
15. To settle price- and valuation-related complaints and denunciations in fields under, and within the scope of, its management in accordance with the laws on complaints and denunciations.
16. Other tasks and powers regarding the state management of price as provided in this Law and other relevant regulations and assigned by the Government.
Article 15. Tasks and powers of ministries and ministerial-level agencies
1. To perform the function of state management of price in fields under, and within the scope of, their management in accordance with law.
2. To promulgate according to their competence, or submit to competent agencies and persons for promulgation, legal documents on price in fields under their management; to coordinate with other ministries, ministerial-level agencies and provincial-level People’s Committees in formulating legal documents on price.
3. To propose and coordinate with the Ministry of Finance in submitting to the Government for submission to the National Assembly Standing Committee for consideration and adjustment the list of goods and services subject to price valorization and list of goods and services to be priced by the State.
4. To propose and coordinate with the Ministry of Finance in submitting to the Government for promulgation and adjustment essential goods and services subject to price declaration under Point d, Clause 2, Article 28 of this Law.
5. To propose and coordinate with the Ministry of Finance in submitting to the Government price valorization policies; to organize price valorization for goods and services in fields and sectors under their state management.
6. To price goods and services on the list of goods and services to be priced by the State falling under their competence; to assume the prime responsibility for, and coordinate with the Ministry of Finance in, formulating and promulgating, or submitting to competent authorities for promulgation, particular pricing methods applicable to goods and services in fields under, and within the scope of, their management in accordance with law.
7. To receive price declaration forms as assigned by the Government.
8. To organize price negotiation for goods and services in fields under, and within the scope of, their management.
9. To update price information and data to the national price database under the Government’s regulations.
10. To organize the State’s valuation activities in fields under, and within the scope of, their management in accordance with law.
11. To examine according to their functions the law observance and handling of price- and valuation-related violations in fields under, and within the scope of their state management of price and valuation.
12. To settle price- and valuation-related complaints and denunciations in fields under, and within the scope of, their management in accordance with the laws on complaints and denunciations.
13. Other tasks and powers regarding the state management of price as provided in this Law and other relevant regulations and assigned by the Government.
Article 16. Tasks and powers of provincial-level People’s Committees
1. To perform the function of state management of price in their localities in accordance with law; to decide on and assign tasks to their professional agencies in charge of fields and sectors and subordinate administrative agencies to advise them on, and assist them in, performing their tasks and exercising their powers in the state management of price and valuation as provided in this Article.
2. To promulgate according to their competence, or submit to competent agencies for promulgation, legal documents on price falling under their management; to coordinate with ministries and ministerial-level agencies in formulating legal documents on price.
3. To organize the price valorization in their localities in accordance with this Law; to coordinate with other localities in organizing the price valorization.
4. To price goods and services on the list of goods and services priced by the State falling under their competence.
5. To assign tasks and delegate powers for receiving price declaration forms in their localities; to organize the summarization, analysis and forecasting of market prices, and update price information and data to the national price database; to decide on the development and operation of local price databases and their connection to the national price database under the Government’s regulations.
6. To propose the Ministry of Finance and other line ministries and ministerial-level agencies to submit to the Government for submission to the National Assembly Standing Committee consideration and adjustment the list of goods and services subject to price valorization and list of goods and services to be priced by the State.
7. To propose the Ministry of Finance to submit to the Government for promulgation and adjustment essential goods and services subject to price declaration under Point d, Clause 2, Article 28 of this Law.
8. To organize price consultation for goods and services in accordance with this Law.
9. To organize the State’s valuation activities under local management in accordance with law.
10. To inspect and examine according to their functions the law observance and handling of price and valuation-related violations in fields under, and within the scope of their state management of price and valuation.
11. To settle price and valuation-related complaints and denunciations under local management in accordance with the laws on complaints and denunciations.
12. To decide on the formulation and organization of implementation of programs and plans to implement appropriate solutions to stabilize market price levels in their localities based on practical local situation in each period.
13. Other tasks and powers regarding the state management of price as provided in this Law and other relevant regulations and assigned by the Government.
Chapter IV
PRICE MANAGEMENT AND REGULATION BY THE STATE
Section 1
PRICE VALORIZATION
Article 17. Goods and services subject to price valorization
1. Goods and services on the list of goods and services subject to price valorization must concurrently meet the following criteria:
a/ Being essential goods and services;
b/ Having great impacts on socio-economic development, production and business activities, and people’s lives.
2. The list of goods and services subject to price valorization is provided in Appendix No. 1 to this Law. Line ministries and ministerial-level agencies in charge of managing goods and services on the list of goods and services subject to price valorization shall specify econo-technical characteristics of these goods and services.
3. When necessary to adjust the list of goods and services subject to price valorization, line ministries and ministerial-level agencies and provincial-level People’s Committees shall make and send written requests for adjustment of the list of goods and services subject to price valorization to the Ministry of Finance for summarization and submission to the Government for the latter to propose the National Assembly Standing Committee to consider and decide on the adjustment.
4. The Government shall specify the order and procedures for proposing the National Assembly Standing Committee to adjust the list of goods and services subject to price valorization under Clause 3 of this Article.
Article 18. Principles and cases of price valorization
1. The principles of price valorization are as follows:
a/ Ensuring publicity, transparency, and harmony of interests between organizations and individuals trading in goods or providing services and consumers;
b/ Being compliant with treaties to which the Socialist Republic of Vietnam is a contracting party;
c/ Being suitable to the socio-economic reality and inflation control targets;
d/ Clearly determining the duration and scope of price valorization that shall be carried out nationwide or in localities.
2. Competent state agencies shall consider to apply price valorization measures in the following cases:
a/ The market price level of a goods or service on the list of goods and services subject to price valorization sees an abnormal fluctuation, causing great impacts on the socio-economic reality, production and business activities, and people’s lives;
b/ A competent agency declares a state of emergency, an incident, a catastrophe, a disaster or an epidemic that leads to an abnormal fluctuation in the market price level of a goods or service.
Article 19. Price valorization measures
1. Price valorization measures include:
a/ Regulating supply and demand, including regulating domestic production of goods, imports and exports; regulating goods between regions and localities throughout the country by organizing the goods circulation; buying or selling national reserve goods and circulation reserve goods;
b/ Financial and monetary measures in accordance with law;
c/ Setting specific prices, maximum prices, minimum prices or price brackets appropriate to characteristics of each type of goods or services; the pricing of goods and services shall be carried out according to the principles, bases and methods specified in Section 2 of this Chapter;
d/ Applying price support measures in accordance with law and treaties to which the Socialist Republic of Vietnam is a contracting party;
dd/ Using price valorization funds, for goods and services for which price valorization funds have been set aside.
A price valorization fund is a financial fund that is not included in the state budget balance, set aside from prices of goods and services and other lawful financial sources and used only for the price valorization purpose. The Government shall decide on the setting aside of price valorization funds for goods and services on the list of goods and services subject to price valorization; provide the management, setting aside and use of price valorization funds; and be held responsible for ensuring publicity and transparency in the management and use of these funds.
2. The duration of application of price valorization measures shall be determined by agencies competent to decide on price valorization measures on the basis of determining causes of price fluctuations; the duration of application of price valorization measures may end ahead of schedule or be extended, depending on the practical implementation of these measures and fluctuations in prices of goods and services.
Article 20. Organization of price valorization
1. Price valorization in the case specified at Point a, Clause 2, Article 18 of this Law shall be carried out as follows:
a/ Line ministries and ministerial-level agencies shall assess the extent of fluctuations in market price levels of goods and services and their impacts on the socio-economic reality, production and business activities and people’s lives, then send reports thereon to the Ministry of Finance for the latter to summarize and propose the Government to consider and decide on the price valorization policy;
b/ Based on the price valorization policy of the Government, line ministries and ministerial-level agencies shall assume the prime responsibility for implementing or guiding provincial-level People’s Committees to perform one or some of the following tasks: examining price constituents or requesting enterprises to report on price constituents; controlling goods inventories; assessing the supply and demand of goods and services in order to identify causes of price level fluctuations which shall be used as a basis for selecting appropriate price valorization measures and duration and scope of application of these measures. Provincial-level People’s Committees shall organize the implementation and report on implementation results to in-charge ministries and ministerial-level agencies;
c/ Line ministries and ministerial-level agencies shall issue decisions on application of one or more than one price valorization measure and duration and scope of application thereof; organize and guide the implementation of price valorization measures and submit reports on price valorization results to the Government and concurrently to the Ministry of Finance for inclusion in reports on summarization, analysis and forecast of market prices. Provincial-level People’s Committees shall organize the implementation of price valorization measures and send report on results thereof to in-charge ministries and ministerial-level agencies;
d/ Organizations and individuals trading in goods or providing services subject to price valorization shall abide by announced price valorization measures and make initial declaration or re-declaration of prices with competent state agencies under Article 28 of this Law.
2. Price valorization in the case specified at Point b, Clause 2, Article 18 of this Law shall be carried out as follows:
a/ In case of price valorization on the national scale, line ministries and ministerial-level agencies shall assess practical developments and market price levels of goods and services, then send reports thereon to the Ministry of Finance for the latter to summarize and propose the Government to decide on appropriate price valorization policies, measures and duration. In case goods and services that need price valorization are not on the list of goods and services subject to price valorization, at the proposal of line ministries and ministerial-level agencies, the Ministry of Finance shall submit price valorization policies, measures and duration for those goods and services to the Government for subsequent submission to the National Assembly Standing Committee for consideration and decision. Line ministries and ministerial-level agencies and provincial-level People’s Committees shall organize the implementation of price valorization measures as assigned by the Government;
b/ For price valorization in localities, provincial-level line departments shall assess practical developments and market price levels of goods and services in their localities, then send reports thereon to provincial-level Finance Departments for the latter to summarize and propose provincial-level People’s Committees to decide on appropriate price valorization policies, measures and duration. Provincial-level line departments and agencies and district-level People’s Committees shall organize the implementation of price valorization measures as assigned by provincial-level People’s Committees. Provincial-level People’s Committees shall submit reports on price valorization results to the Government and concurrently to the Ministry of Finance for inclusion in reports on summarization, analysis and forecast of market prices;
c/ Organizations and individuals trading in goods or providing services subject to price valorization shall abide by announced price valorization measures and make initial declaration or re-declaration of prices with competent state agencies under Article 28 of this Law.
d/ In case a competent agency announces a state of emergency and the law on the state of emergency contains other provisions on price valorization, the law on the state emergency will apply .
3. The Government shall detail this Article.
Section 2
PRICING
Article 21. Goods and services priced by the State
1. Goods and services priced by the State must meet one of the following criteria:
a/ Being subject to state monopoly in production or trading in accordance with the commercial law and other relevant laws;
b/ Being important resources as specified by the law on resources;
c/ Being national reserve goods; public-utility products and services, and public non-business services funded by the state budget;
d/ Being essential goods and services subject to exclusive sale or exclusive purchase or have a limited competitive market and have impacts on the socio-economic reality, people’s lives, and production and business activities.
2. State agencies with the pricing competence shall carry out pricing in the following forms:
a/ Setting specific prices which are price levels at which agencies, organizations and individuals are required to buy and sell goods or services;
b/ Setting the minimum price which is the lowest price level at which agencies, organizations and individuals may price, buy and sell goods or services;
c/ Setting the maximum price which is the highest price level at which agencies, organizations and individuals may price, buy and sell goods or services;
d/ Setting a price bracket which is a price range with the minimum price being the lowest price level and the maximum price being the highest price level at which agencies, organizations and individuals may price, buy and sell goods or services.
3. Competence and responsibility to carry out pricing are specified as follows:
a/ The Prime Minister shall price particularly important goods and services with great impacts on the macro-economy and people’s lives;
b/ The Ministry of Finance shall price goods and services falling under its management; goods and services falling under the management of more than one sector and affecting the state budget;
c/ Ministries and ministerial-level agencies shall price goods and services falling under their specialized management in accordance with law;
d/ Provincial-level People’s Committees shall price goods and services in their localities according to their competence.
4. The list of goods and services priced by the State, forms of pricing and competence and responsibility to carry out pricing are specified in Appendix No. 2 to this Law. Economic-technical characteristics of goods and services on the list of goods and services to be priced by the State must comply with relevant regulations; in case of unavailability of applicable regulations, ministries, ministerial-level agencies and provincial-level People’s Committees shall promulgate such regulations according to their competence.
5. When necessary to adjust the list of goods and services to be priced by the State, ministries, ministerial-level agencies and provincial-level People’s Committees shall send requests for adjustment to the Ministry of Finance for the latter to summarize and propose the Government to submit the adjustment to the National Assembly Standing Committee for consideration and decision.
6. The Government shall specify the order and procedures for proposing the National Assembly Standing Committee to adjust the list of goods and services to be priced by the State under Clause 5 of this Article.
Article 22. Principles of and bases for pricing by the State
1. Principles of pricing by the State are as follows:
a/ Ensuring coverage of reasonable production and business costs; profits (if any) or law-provided accumulations (if any) in conformity with the market level; ensuring conformity with the supply and demand of goods and services, market conditions at the time of pricing and the State’s socio-economic development policies and guidelines in each period;
b/ Ensuring lawful rights and interests of the State, organizations and individuals trading in goods or providing services, and consumers;
c/ Reviewing and adjusting prices when price constituents change. For public products supplied or services provided under public-private partnership investment projects, the adjustment of prices shall be carried out by each phase as stated in project contracts.
2. Bases for pricing by the State are as follows:
a/ Price constituents of goods and services at the time of pricing or the time of determining price constituents in price plans in conformity with properties and characteristics of goods and services;
b/ The supply and demand balance of goods and services, market demand and purchasing power of the currency; and consumers’ solvency;
c/ Domestic and global market prices and competitiveness of goods and services.
Article 23. Pricing methods
1. Pricing method means a way to determine prices of goods and services to be priced by the State in the forms of pricing specified in Clause 2, Article 21 of this Law.
2. The Minister of Finance shall promulgate the common pricing method applicable to goods and services priced by the State. When applying the common pricing method, if there are specific contents that need further guidance, line ministries and ministerial-level agencies and provincial-level People’s Committees shall report on such specific contents to the Ministry of Finance for consideration and guidance.
3. Line ministers and heads of line ministerial-level agencies shall assume the prime responsibility for, and coordinate with the Minister of Finance and related ministries and agencies in, promulgating or submitting to competent authorities for promulgation pricing methods applicable to the following goods and services:
a/ The goods and services specified in Clause 4, Article 3 of this Law;
b/ Goods and services for which the law provides separate pricing methods.
Article 24. Promulgation of pricing or price adjustment documents; documents stipulating pricing mechanisms and policies
1. Pricing or price adjustment documents promulgated by state agencies with pricing competence are administrative documents. The promulgation of such a document shall be carried out in the following steps:
a/ Preparing the price plan;
b/ Appraising the price plan;
c/ Submitting and promulgating a pricing or price adjustment document.
2. Documents stipulating pricing mechanisms and policies shall be promulgated by competent state agencies in the form of legal document.
3. The Government shall detail Clause 1 of this Article.
Section 3
PRICE NEGOTIATION
Article 25. Criteria on goods and services subject to price negotiation
1. Not being on the list of goods and services to be priced by the State; not falling into cases subject to bidding or auction in accordance with the laws on bidding and auction.
2. Being intended for exclusive sale or exclusive purchase with the buyer and the seller depending on each other so that they can hardly be replaced.
Article 26. Principles of, and competence and responsibility for, price negotiation
1. Principles of price negotiation are as follows:
a/ Entities requesting price negotiation must be organizations trading in goods or providing services that buy and sell goods or services meeting the criteria specified in Article 25 of this Law;
b/ Requests for price negotiation shall be accepted and price negotiation shall be carried out on a voluntary and equal basis in terms of rights and obligations; both the buyer and seller must submit a written request for price negotiation;
c/ The price negotiation process must ensure objectivity, publicity, transparency, and respect for the self-pricing right of parties requesting the price negotiation.
2. Competence and responsibility for price negotiation are as follows:
a/ Line ministries and ministerial-level agencies shall organize price negotiation for goods and services under their management in case the buyer or seller or both of them is/are enterprise(s) in which the State holds 100% of charter capital and which is/are governed by the law on management and use of state capital invested in production and business at enterprises;
b/ Provincial-level line departments shall organize price negotiation for goods and services under their management in case the buyer and seller are not the subjects specified at Point a of this Clause.
In case the buyer and seller are headquartered in 2 different provinces or centrally run cities, they shall reach agreement to request either of these two localities to organize price negotiation.
In case the buyer and seller cannot reach agreement on which locality will organize price negotiation, the provincial-level line department of the locality where the seller has made its business registration shall organize price negotiation; in case the seller is an enterprise’s subsidiary, the provincial-level line department of the locality where the subsidiary has made its operation registration will organize price negotiation.
Article 27. Organization of price negotiation
1. Upon receiving written requests for price negotiation from the buyer and seller, the concerned price negotiation agency shall review and assess the goods’ or service’s satisfaction of the criteria specified in Article 25 of this Law. When necessary, the price negotiation agency shall request in writing the parties to add information about the goods or service.
2. The price negotiation agency shall organize a price negotiation conference for the buyer and seller to negotiate the price on a cooperative manner, ensuring harmony of interests between the parties. The buyer and seller shall send documents on appointment of their representatives to participate in the price negotiation conference.
3. At the price negotiation conference, the price negotiation agency shall act as the intermediary for the buyer and seller to negotiate the price level and may not interfere in the price level the parties have negotiated.
4. In case the buyer and seller reach agreement on the price at the price negotiation conference, the conference will end; the price negotiation agency shall make a record for the parties to sign to acknowledge negotiation results. The negotiated price may only be applied to the sale and purchase transaction and volume of goods and services agreed by the parties in the written requests for price negotiation; the negotiated price is not valid for application to other cases. The buyer and seller shall be held responsible for the negotiated price they have agreed upon.
5. In case the buyer and seller cannot reach agreement on the price and further request the price negotiation agency to set a price for them to apply, the price negotiation agency shall make a record of these contents. The price negotiation agency shall set a price level for both parties to apply. The price negotiation agency’s price-setting document shall be applied only once to the entities requesting the price negotiation, the purchase or sale transaction, and the volume of goods and services agreed upon by the parties in the requests for price negotiation and is not valid for application to other cases. The buyer and seller shall abide by the price set by the price negotiation agency.
6. The Government shall detail this Article.
Section 4
PRICE DECLARATION, PRICE LISTING, REFERENCE PRICES
Article 28. Price declaration
1. Declared price means the price of a goods or service decided by the organization trading in such goods or providing such service and notified to the agency competent to receive the price declaration form.
2. Goods and services subject to price declaration include:
a/ Goods and services on the list of goods and services subject to price valorization;
b/ For goods and services for which the State shall set price brackets, maximum prices and minimum prices for use as a basis for organizations to set specific selling prices to be applied to consumers;
c/ Goods and services of which prices are decided by enterprises based on reference prices;
d/ Other essential goods and services on the list promulgated by the Government.
Line ministries and ministerial-level agencies and provincial-level People’s Committees shall specify economic-technical properties of goods and services subject to price declaration.
3. To-be declared contents include the price associated with the name, type and origin (if any) of, and quality criteria (if any) applicable to, the goods or service, and reason(s) for price adjustment between times of declaration.
4. Price declarants are organizations trading in goods or providing services that have made their business registration in accordance with the law on enterprises, have the right to decide on prices, and are on the list of organizations subject to price declaration promulgated by agencies competent to receive price declaration forms under Clause 5 of this Article.
5. The formulation and announcement of lists of organizations trading in goods or providing services that are subject to price declaration are specified as follows:
a/ Each ministry or ministerial-level agency competent to receive price declaration forms shall review and promulgate a list of organizations trading in goods or providing services that carry out price declaration at the ministry or ministerial-level agency;
b/ Each provincial-level People’s Committee shall review and promulgate a list of organizations trading in goods or providing services that carry out price declaration in its locality and are not included in lists of organizations subject to price declaration promulgated by ministries and ministerial-level agencies.
6. Organizations trading in goods or providing services that are subject to price declaration shall themselves decide on prices of their goods and services and make first-time declaration and re-declaration of prices after deciding on prices under regulations and be held responsible for the prices and contents of their price declaration forms.
7. Agencies receiving price declaration forms shall update information on declared prices into the price database; and may use declared prices in summarizing, analyzing and forecasting market prices under regulations.
8. The Government shall detail this Article.
Article 29. Price listing
1. Price listing means a form of public notification of prices. The listed price of a goods or service is the buying price or selling price in Vietnam dong of such goods or service, inclusive of taxes, fees and charges (if any) applicable to such goods or service, which is decided by the organization or individual producing or trading in or providing it, except cases governed by the law on foreign exchange. The listed price is associated with an appropriate quantity or volume of the goods or service and other information (if any) about basic technical properties and origin, and method of purchase or sale of the goods or service.
2. Organizations and individuals trading in goods or providing services shall list prices in a transparent manner that does not mislead customers as to buying prices or selling prices of goods and services in the following forms: printing, sticking or writing information on boards or paper sheets or printing information directly on packages of goods or other forms suitable to actual conditions at places of goods sale or service provision or on information pages for convenient observation and identification by customers and competent state agencies.
3. Organizations and individuals may not sell goods and services at prices higher than listed prices; for goods and services specifically priced by the State, organizations and individuals trading in such goods or providing such services shall list and sell them at prices set by competent state agencies; for goods and services of which minimum prices, maximum prices and price brackets have been promulgated by competent state agencies, organizations and individuals shall list and sell goods and services at prices suitable with such minimum prices, maximum prices and price brackets. Organizations and individuals trading in goods or providing services shall adjust listed prices immediately when there is a change in prices of such goods or services.
Article 30. Reference prices
1. Reference price means the price of a goods or service in the domestic and international markets as announced by a competent agency or organization for use by agencies, organizations and individuals trading in such goods or providing such service when negotiating or and deciding on prices of such goods or service.
2. The Government shall decide on goods and services for which reference prices may be used and provide the announcement and use of reference prices.
Section 5
INSPECTION OF PRICE CONSTITUENTS
Article 31. Purposes and requirements of inspection of price constituents
1. Inspection of price constituents shall be carried out by competent state agencies to review and evaluate the reasonability and validity of price constituents and supply and demand of goods or services in order to identify factors affecting prices of goods or services before considering and deciding on the application of appropriate price management and regulation solutions and measures.
2. Inspection of price constituents shall be carried out in the following cases:
a/ Prices of goods and services subject to price valorization see abnormal fluctuations affecting the socio-economic reality, production and business activities, people’s lives, and market price levels;
b/ Prices of other goods and services see abnormal fluctuations in case of emergencies, incidents, calamities, natural disasters or epidemics or direction by the Prime Minister, ministers, heads of ministerial-level agencies or chairpersons of provincial-level People’s Committees to serve the price management and administration.
Article 32. Competence and responsibility to inspect price constituents
1. Line ministries and ministerial-level agencies shall inspect price constituents of goods and services in specialized fields under, and falling within the scope of, their management and assign the task of inspecting price constituents to their professional agencies and affiliated units.
2. Provincial-level People’s Committees shall inspect price constituents of goods and services in areas under their management and assign the task of inspecting price constituents to their professional agencies and affiliated units.
Article 33. Inspection of price constituents
1. The inspection of price constituents must ensure publicity and transparency while limiting impacts on production and business activities of organizations and individuals; clearly define inspection objects and period. When completing the inspection, inspection agencies shall report inspection results to competent authorities.
2. An inspection of price constituents shall be carried out as follows:
a/ A state agency competent to inspect price constituents shall send a notice of inspection to the organization or individual trading in the goods or providing the service subject to inspection;
b/ The organization or individual subject to inspection of price constituents shall provide sufficient information, dossiers and documents related to price constituents;
c/ The maximum period of inspection of price constituents is 30 days from the date of receipt of sufficient documents as required; in complicated cases, such period may be extended for no more than 15 days;
d/ When completing the inspection, the inspection agency shall report on results of the inspection of price constituents and propose appropriate measures. The report shall be made within 10 days from the date the inspection is completed, stating purposes and requirements of the inspection, inspected subject, inspection results, and causes thereof.
3. If detecting a violation in the course of inspection, the inspection agency shall handle it or forward it to a competent authority for handling in accordance with law.
Chapter V
SUMMARIZATION, ANALYSIS AND FORECASTING OF MARKET PRICES, PRICE DATABASES
Article 34. Summarization, analysis and forecasting of market prices
1. Summarization, analysis and forecasting of market prices mean collection and summarization of information and data on prices of assets, goods and services in a given phase or period in order to analyze, evaluate and forecast trends of fluctuation of market price levels and propose price management and regulation directions, solutions and measures.
2. Summarization, analysis and forecasting of market prices cover the following activities:
a/ Organizing the collection and analysis of market prices of assets, goods and services;
b/ Formulating reports on summarization, analysis and forecasting of market prices in each phase or period, associated with inflation control targets;
c/ Evaluating and giving recommendations on annual inflation control targets and proposing price management and administration solutions in order to control inflation and stabilize the macro-economy.
Article 35. Principles of summarization, analysis and forecasting of market prices
1. To be carried out in a regular, continuous and timely manner.
2. To ensure adequacy and accuracy in data summarization and analysis on the basis of information technology application.
3. To forecast market prices in a scientific manner associated with the application of information technology and requirements of the price management and regulation.
Article 36. Reports on summarization, analysis and forecasting of market prices
1. A report on summarization, analysis and forecasting of market prices must have the following contents:
a/ Summarization of information on market price levels and developments in the market price levels of goods and services at home and in the world for the state management of prices; analysis of causes of fluctuations in market price levels; assessment of economic and political impacts home and around the world on the price management and regulation;
b/ Price management and regulation by the State;
c/ Forecasting of trends in fluctuation of market price levels of essential goods and services;
d/ Proposed plans on adjustment of prices of goods and services on the list of goods and services priced by the State (if any); assessment of impacts of price adjustments on the socio-economic reality and inflation control targets;
dd/ Price management and regulation solutions and measures.
2. The Minister of Finance shall provide the summarization, analyze and forecasting of market prices.
Article 37. Responsibilities of agencies and units in charge of summarizing, analyzing and forecasting market prices
1. The Ministry of Finance shall, within the ambit of their assigned functions and tasks, assume the prime responsibility for, and coordinate with ministries, sectors and provincial-level People’s Committees in, summarizing, analyzing and forecasting market prices to study and advise the Government on price regulation solutions.
2. Ministries and sectors shall coordinate with the Ministry of Finance in jointly summarizing, analyzing and forecasting market prices in the fields and scope under their management according to the Government’s regulations.
3. Provincial-level People’s Committees shall organize the summarization, analysis and forecasting of market prices in their localities under the Ministry of Finance’s guidance.
Article 38. Price databases
1. Price databases include the National Price Database and local price databases.
2. The National Price Database shall be built to serve the state management of prices and valuation and meet social needs and subject to the Ministry of Finance’s uniform management. Information sourced from the National Price Database is one of the information sources serving the state management of prices and meeting social needs. Organizations and individuals wishing to receive information from the National Price Database shall pay a charge for the service under the Ministry of Finance’s regulations.
3. Based on local conditions, provincial-level People’s Committees shall decide on building local price databases, which are connected to the National Price Database, to serve the state management of prices and valuation in their localities.
4. Ministries, ministerial-level agencies, provincial-level People’s Committees and valuation enterprises shall update price data and information to the National Price Database; the collection, storage, processing, protection, exploitation and use of price databases shall be combined with information technology application. Organizations and individuals are encouraged to participate in the building of price databases.
5. The Government shall specify the building, management, updating and exploitation of price databases.
Article 39. Funds for summarization, analysis and forecasting of market prices and price databases
1. Funds for summarization, analysis and forecasting of market prices and price management and regulation shall be included in the state budget estimates for agencies and units assigned to perform such tasks.
2. Funds for building, maintenance, upgrading, management and operation of price databases shall be guaranteed by the state budget according to decentralization and other lawful funding sources in accordance with law.
The agencies assigned to manage price databases shall formulate budget estimates serving the building, maintenance, upgrading, management and operation of such databases for submission to competent authorities for approval in accordance with the law on the state budget.
3. The Minister of Finance shall detail this Article.
Chapter VI
VALUATION
Section 1
GENERAL PROVISIONS
Article 40. Valuation activities
1. Valuation activities include provision of valuation services and valuation activities of the State.
2. Valuation services shall be performed by valuation enterprises under civil contracts; valuation activities of the State shall be performed by valuation councils under decisions of competent agencies, organizations and persons specified in Article 59 of this Law.
Article 41. Principles of valuation activities
1. Observing laws and Vietnamese valuation standards.
2. Assuring independence, objectiveness and truthfulness.
3. Taking responsibility for valuation activities in accordance with law.
Article 42. Vietnamese valuation standards
1. Vietnamese valuation standards mean regulations and guidance on professional skills and ethics in valuation activities.
2. The Minister of Finance shall promulgate and monitor the compliance with the Vietnamese valuation standards; review and propose competent agencies to modify and supplement contradictory and overlapping regulations on valuation.
Article 43. Professional valuation association
1. The professional valuation association shall be established and operate under the law on associations, and comply with the Law on Price and other relevant laws.
2. The professional valuation association may provide professional training in valuation, re-training in and updating of professional knowledge of valuation, grant course completion certificates and implement valuation-related activities under the Minister of Finance’s regulations.
Section 2
VALUATION SERVICES
Article 44. Valuer cards
1. Valuer card means a professional certification in asset valuation or business valuation which is granted to persons passing the test for grant of valuer cards.
2. A participant in the test for grant of valuer cards must fully satisfy the following conditions:
a/ Having full civil act capacity;
b/ Possessing a university or higher degree;
c/ Having a certificate of professional valuation conformable with the field of expertise in which he/she is tested, granted by an agency or organization having the function of providing training in valuation, except those possessing a college or higher degree in price or valuation.
3. The Minister of Finance shall prescribe the testing, grant, management and revocation of valuer cards.
Article 45. Valuation practice registration
1. A valuer card holder wishing to register for valuation practice must fully satisfy the following conditions:
a/ Having full civil act capacity;
b/ Having a valid labor contract signed under the labor law with the enterprise in which he/she registers for valuation practice, unless he/she is the at-law representative of the enterprise;
c/ Having actually worked at valuation enterprises and state management agencies in charge of price and valuation for at least 36 months with a university or higher degree or at least 24 months with a university or higher degree in the discipline of price or valuation granted under an application-oriented training program in accordance with law;
d/ Having been updated with knowledge of valuation in accordance with the Ministry of Finance’s regulations, unless his/her valuer card is granted within 1 year, counted up to the time of registration for valuation practice.
dd/ Not falling into the cases specified in Clause 2 of this Article.
2. Persons who are not allowed to practice valuation include:
a/ Cadres and civil servants as defined in the law on cadres and civil servants; officers, professional army men and defense workers in agencies and units of the People’s Army; professional and technical operation officers and non-commissioned officers, and people’s public security workers in agencies and units of the People’s Public Security;
b/ Persons who are banned from practicing valuation under legally effective court judgments or rulings; persons who are subject to initiation of criminal prosecution, prosecution or trial in accordance with the criminal procedure law; persons who had been convicted for an economic or position-related crime in relation to finance, price or valuation and have not yet had their convictions expunged; persons who are subject to the administrative handling measure of community-based education; and persons who are consigned to compulsory drug addiction treatment establishments or compulsory education institutions;
c/ Persons whose valuer cards are revoked under competent persons’ decisions on handling of administrative violations in accordance with the law on handling of administrative violations.
3. Valuer card holders fully satisfying the conditions for valuation practice registration prescribed in Clause 1 of this Article shall register for valuation practice with the Ministry of Finance via their valuation enterprises in order to be announced as valuers in such enterprises. Valuer card holders in business valuation may register for valuation practice in 2 fields specified in Clause 1, Article 44 of this Law. Valuer card holders may not register for valuation practice in 2 or more valuation enterprises at the same time.
4. The Government shall prescribe order, procedures and dossiers for valuation practice registration.
Article 46. Valuers
1. Valuer means a valuer card holder who has registered for valuation practice and been announced by the Ministry of Finance as a valuer.
2. During the process of valuation practice, valuers must continue to satisfy the conditions for valuation practice registration specified in Clause 1, Article 45 of this Law. Valuation enterprises shall promptly report to the Ministry of Finance change in their valuers in case a valuer no longer satisfies the conditions for valuation practice registration or changes the place of valuation practice registration.
3. The list of valuers shall be announced as follows:
a/ The list of valuers of a year shall be announced before January 1 of that year;
b/ The monthly adjusted list of valuers (if any) shall be announced before the last working day of the month, for dossiers received by the Ministry of Finance before the 15th of that month;
c/ The list of valuers shall be announced upon the grant or re-grant of certificates of eligibility for provision of valuation services to valuation enterprises.
Article 47. Rights and obligations of valuers
1. Rights of valuers:
a/ To practice valuation in accordance with this Law; to sign valuation deeds and valuation reports according to their areas of expertise; to practice valuation without having to possess professional certificates or satisfy professional conditions other than those specified in this Law.
b/ To present their independent viewpoints on professional issues;
c/ To request clients to provide dossiers and documents related to assets subject to valuation and create favorable conditions for valuation; not to be held responsible for the accuracy of information on assets subject to valuation provided by clients;
d/ To refuse to conduct valuation in the areas of expertise other than those in which they are allowed to practice or if deeming that dossiers and documents to be used in valuation are insufficient or unreliable;
dd/ To join domestic and foreign professional valuation associations in accordance with law;
e/ Other rights specified by law
2. Obligations of valuers
a/ To comply with the provisions on valuation activities of this Law and other relevant laws;
b/ To assure professional independence, truthfulness, objectiveness and accuracy during the process of asset valuation; to take professional responsibility during the valuation process and assure valuation reports’ compliance with Vietnamese
valuation standards;
c/ To explain about or defend the contents of valuation reports they make before valuation clients or third parties that are entitled to use valuation reports under valuation contracts when requested; to explain about valuation reports they make to competent state agencies in accordance with law when requested;
d/ To participate in programs on updating of knowledge of valuation under regulations;
dd/ To formulate dossiers on valuation in accordance with law;
e/ Other obligations specified by law.
Article 48. Valuation enterprises
1. Valuation enterprise means an enterprise that is established and registers the business line of valuation service in accordance with the law on enterprises and is granted a certificate of eligibility for provision of valuation services by the Ministry of Finance in accordance with this Law.
2. Persons holding positions and powers in the state management of price, after resigning from their positions, may neither establish nor hold managerial or executive titles or positions in valuation enterprises within the period prescribed in the anti-corruption law.
Article 49. Conditions for grant of certificates of eligibility for provision of valuation services
1. When applying for a certificate of eligibility for provision of valuation services, an enterprise must have at least 5 valuer card holders qualified for registration for valuation practice under Clause 1, Article 45 of this Law registering for valuation practice in the enterprise and fully satisfy the following conditions:
a/ Its owner and Director/Chief Executive Office, in case the enterprise is a sole proprietorship; its at-law representative and Director/Chief Executive Officer, in case the enterprise is a single-member limited liability company or partnership, must satisfy the conditions specified in Article 51 of this Law. Individual owners of single-member limited liability companies and general partners of partnerships must be valuer card holders registering for valuation practice at such enterprises;
b/ Its at-law representative and Director/Chief Executive Officer, in case the enterprise is a limited liability company with two or more members or a joint-stock company, must satisfy the conditions specified in Article 51 of this Law; and the enterprise must have at least 2 capital-contributing partners or 2 shareholders being valuer card holders who register for valuation practice at the enterprise.
In case the enterprise has institutional capital-contributing members or shareholders, the proxy representatives of these institutions must be valuer card holders registering for valuation practice at the enterprise; the total contributed capital amount of institutional members must not exceed 35% of the enterprise’s charter capital; and the total contributed capital amount of members or shareholders being valuer card holders who register for valuation practice at the enterprise must make up more than 50% of its charter capital.
2. If its certificate of eligibility for provision of valuation services is lost or torn or in case its information stated in the certificate change, a valuation enterprise shall carry out procedures for re-grant of the certificate of eligibility for provision of valuation services.
3. The Government shall specify dossiers, order and procedures for grant and re-grant of certificates of eligibility for provision of valuation services.
Article 50. Subsidiaries of valuation enterprises
1. A subsidiary of a valuation enterprise is an affiliated unit of such enterprise which is established under the law on enterprises, satisfies the conditions prescribed in Clause 2 of this Article and has its name inscribed in the enterprise’s certificate of eligibility for provision of valuation services.
2. A subsidiary of a valuation enterprise must fully satisfy the following conditions:
a/ Having at least 3 valuer card holders qualified for valuation practice registration under Clause 1, Article 45 of this Law register for valuation practice at the subsidiary. Such holders may not concurrently registering for valuation practice at the head office or another subsidiary of the valuation enterprise;
b/ The head of the subsidiary must be a valuer card holder qualified for valuation practice registration under Clause 1, Article 45 of this Law and registering for valuation practice at the subsidiary.
3. Subsidiaries of valuation enterprises may conduct valuation under valuation enterprises’ written decisions and issue valuation deeds and valuation reports for valuation contracts they sign with valuation clients.
4. Valuation enterprises shall take responsibility for their subsidiaries’ provision of valuation services.
Article 51. At-law representatives and Directors/Chief Executive Officers of valuation enterprises, heads of subsidiaries of valuation enterprises
1. The at-law representative and Director/Chief Executive Officer of an valuation enterprise must fully satisfy the following conditions:
a/ Being the at-law representative and Director/Chief Executive Officer as stated in the enterprise registration certificate of the enterprise;
b/ Being valuers at the enterprise;
c/ Having worked as valuers for at least 36 months;
d/ Having satisfied the conditions prescribed at Points a, b, d and dd, Clause 1, Article 45 of this Law;
dd/ Not having been the at-law representative or Director/Chief Executive Officer of a valuation enterprise whose certificate of eligibility for provision of valuation services has been revoked within 12 months, for those subject to revocation of certificates for the first time, or 60 months, for those subject to revocation of certificates for the second time onward, counting up to the time the enterprise submits a dossier of application for grant or re-grant of a certificate of eligibility for provision of valuation services.
2. At-law representatives and Directors/Chief Executive Officers of valuation enterprises, heads of subsidiaries of valuation enterprises shall have their names inscribed in certificates of eligibility for provision of valuation services granted to such valuation enterprises.
Article 52. Conditions for operation of a valuation enterprise or a subsidiary of a valuation enterprise
1. Having been granted a certificate of eligibility for provision of valuation services and maintaining the satisfaction of the conditions specified in Articles 49 and 50 of this Law.
2. Within 10 days from the date it no longer satisfies one of the conditions specified in Articles 49 and 50 of this Law, the valuation enterprise shall notify thereof to the Ministry of Finance and remedy the situation within 3 months from such date.
3. In the course of remedying the situation specified Clause 2 of this Article, the valuation enterprise and its subsidiaries shall provide valuation services as follows:
a/ In case the at-law representative of the valuation enterprise is no longer a valuer at the enterprise or fails to satisfy the conditions specified at Points a, b, d and dd, Clause 1, Article 45 of this Law, the valuation enterprise and its subsidiaries may not issue valuation deeds and valuation reports. In case the head of a subsdiary of a valuation enterprise is no longer a valuer at the enterprise or fails to satisfy the conditions specified at Points a, b, d and dd, Clause 1, Article 45 of this Law, such subsidiary may not issue valuation deeds and valuation reports;
b/ In case the number of valuers at the valuation enterprise or valuation enterprise’ subsidiary is not sufficient as required but the enterprise or subsidiary does not fall into the cases prescribed at Point a of this Clause, the valuation enterprise or valuation enterprise’s subsidiary may issue valuation deeds and valuation reports under valuation contracts it has signed while still satisfying the condition on the number of valuers but may not sign new valuation contracts.
4. Past 3 months from the date a valuation enterprise or a valuation enterprise’s subsidiary no longer satisfies the conditions specified in Articles 49 and 50 of this Law, if it still fails to remedy the situation so as to satisfy the conditions for valuation activities, it shall be suspended from provision of valuation services or have its certificate of eligibility for provision of valuation services revoked under Article 54 of this Law, for valuation enterprises, or have its name erased from the concerned enterprise’s certificate of eligibility for provision of valuation service, for subsidiaries of valuation enterprises.
Article 53. Rights and obligations of valuation enterprises
1. Rights of valuation enterprises:
a/ To provide valuation services in accordance with this Law;
b/ To participate in domestic and foreign professional valuation associations and organizations in accordance with law;
c/ To request valuation clients to provide dossiers, documents and data related to assets subject to valuation, and create favorable conditions for valuation;
d/ To refuse to provide valuation services;
dd/ Other rights as prescribed by law.
2. Obligations of valuation enterprises.
a/ To comply with this Law’s provisions on valuation activities;
b/ To carry out valuation under valuation contracts and in their licensed areas of expertise; to arrange valuers and professionally qualified persons to carry out valuation under signed contracts; to create conditions for valuers to carry out valuation activities in an independent and objective manner;
c/ To formulate and organize the implementation of rules on control of quality of valuation reports serving the issuance and provision of valuation deeds to valuation clients;
d/ To ensure that valuation deeds they issue comply with Vietnamese valuation standards, except cases where valuation clients intentionally provide false information on assets subject to valuation; to take responsibility before valuation clients for provision of valuation services under signed contracts;
dd/ To pay damages in accordance with law for their breaches of valuation contracts or in case valuation activities cause damage to the interests of agencies, organization or individuals due to their failure to comply with regulations on valuation;
e/ To buy professional liability insurance for valuation activities or set up professional risk reserve funds in accordance with the Minister of Finance’s regulations;
g/ To manage and supervise activities of valuers at enterprises;
h/ To observe the regime of reporting on valuation activities in accordance with the Minister of Finance’s regulations;
i/ To preserve and retain dossiers and documents on valuation, ensuring safety, sufficiency, lawfulness and confidentiality in accordance with the law on archives;
k/ Other obligations as prescribed by law.
Article 54. Suspension of provision of valuation services and revocation of certificates of eligibility for provision of valuation services
1. A valuation enterprise shall be suspended from providing valuation services in any of the following cases:
a/ Failing to satisfy any of the conditions specified in Clause 1, Article 49 of this Law for 3 consecutive months;
b/ Issuing a valuation deed or valuation report signed by a person who is not a valuer but signs the valuation deed or report in the capacity of valuer;
c/ Falling into cases subject to suspension of operation specified in the enterprise, administrative violation handling, and criminal laws.
2. A valuation enterprise shall have its certificate of eligibility for provision of valuation services revoked in any of the following cases:
a/ Having made untruthful declarations, falsified or forged the dossier of application for grant or re-grant of a certificate of eligibility for provision of valuation services;
b/ Failing to issue valuation deeds or valuation reports for 12 consecutive months;
c/ Failing to remedy the violation specified at Point a, Clause 1 of this Article within 60 days from the date of suspension of provision of valuation services;
d/ Terminating the provision of valuation services at its own will;
dd/ Having its business registration certificate or enterprise registration certificate revoked.
3. During the period of suspension from provision of valuation services, valuation enterprises may neither sign valuation service contracts nor issue valuation deeds. Valuation enterprises having their certificates of eligibility for provision of valuation services revoked shall terminate the provision of valuation services from the effective date of the revocation decisions.
The at-law representative of a valuation enterprise at the time the enterprise has its certificate of eligibility for provision of valuation services revoked shall continue performing the valuation enterprise’s obligation of retaining valuation dossiers and documents specified at Point i, Clause 2, Article 53 of this Law.
4. The Government shall specify the suspension of provision of valuation services and revocation of certificates of eligibility for provision of valuation services.
Article 55. Valuation deeds and valuation reports
1. A valuation deed must bear the signature of the valuer who carries out the valuation and signature and seal of the at-law representative of the valuation enterprise or the head of the subsidiary.
2. A valuation report must bear the signature of the valuer who carries out the valuation and approval of the at-law representative of the valuation enterprise or the head of the subsidiary and be inseparable from the relevant valuation deed.
3. The at-law representative of a valuation enterprise may authorize the enterprise manager provided by the law on enterprises to sign valuation deeds and consider and approve valuation reports. The authorized person must be a valuer at the enterprise.
4. Valuation deeds and valuation reports shall be used as one of the bases for valuation clients and related organizations and individuals stated in valuation contracts to decide on or approve prices of assets. A valuation deed and attached valuation report shall be valid for use only within its validity period for the purpose associated with the assets in the quantity stated in the valuation contract.
5. Valuation deeds shall be updated to the National Price Database under the Ministry of Finance’s regulations, except those on the list of state secrets.
Article 56. Rights and obligations of valuation clients and related organizations and individuals stated in valuation contracts
1. Organizations and individuals may select valuation enterprises that are qualified to practice valuation in accordance with law to enter into valuation contracts.
2. Rights of valuation clients and related organizations and individuals (if any) stated in valuation contracts:
a/ To request valuation enterprises to provide information stated in valuation enterprises’ dossiers of registration for valuation practice and information on their valuers;
b/ To refuse to provide information and documents not related to valuation activities and assets subject to valuation;
c/ To request valuation enterprises to replace valuers participating in the valuation when there are grounds to believe that such valuers violate Vietnamese valuation standards and the principles of honesty, independence and objectivity in the process of valuation;
d/ To request valuation enterprises to provide valuation deeds and valuation reports; to claim for damages caused by valuation enterprises’ violations;
dd/ To consider and decide on the use of valuation deeds and valuation reports;
e/ Other rights as prescribed by law.
3. Obligations of valuation clients and related organizations and individuals (if any) stated in valuation contracts:
a/ To provide information and documents relating to assets subject to valuation at the request of valuation enterprises in an adequate, accurate, truthful, timely and objective manner; to take responsibility before law for the information and documents they provide;
b/ To coordinate with, and create conditions for, valuers to carry out valuation;
c/ To timely, fully and accurately notify competent state agencies of violations of the law and valuation contracts in valuation activities of valuers and valuation enterprises;
d/ To pay for valuation services as agreed upon in contracts;
d/ To take responsibility for the use of valuation deeds and valuation reports in deciding on and approving prices of assets. A valuation deed and attached valuation report must be used within the valuation deed’s validity period for the purpose associated with the assets in the quantity stated in the relevant valuation contract;
e/ Other obligations as prescribed by law.
Article 57. Determination of valuation service prices
Valuation service prices shall be stated in valuation contracts based on civil transactions between valuation enterprise and valuation clients on the principle of covering reasonable actual costs for implementation of all activities within the scope of work specified in Vietnamese valuation standards.
Article 58. Methods of resolving disputes about valuation contracts
1. Negotiation and mediation based on the commitments stated in valuation contracts.
2. Resolution by commercial arbitration.
3. Initiation of lawsuits in accordance with the law on civil procedures.
Section 3
VALUATION BY THE STATE
Article 59. Valuation by the State
1. Valuation by the State shall be selected when the relevant law provides that this method is as one of the bases for competent agencies, organizations and person to decide on and approve prices upon sale, liquidation, lease, contribution to joint ventures or affiliates, and transfer of public assets, or purchase or rent of goods, services and assets using state capital.
2. In case of selecting the method of valuation by the State, agencies, organizations and persons competent to decide on or approve prices specified in Clause 1 of this Article shall form valuation councils to carry out the valuation by the State.
3. Valuation by the State does not apply to goods and services on the List of goods and services to be priced by the State.
Article 60. Valuation councils
1. A valuation council must have at least 3 members who are cadres, civil servants, public employees, and employees under the management and employment of the valuation council former, including the valuation council chairperson. In case of necessity, a person having professional certification specified in Clause 2 of this Article may be hired to act as a member of the valuation council.
2. At least 50% of members of a valuation council, including its chairperson, must possess at least one of the following professional certifications:
a/ College or higher degree in price or valuation;
b/ Valuer certificate;
c/ Certificate of professional valuation training;
d/ Certificate of professional training in valuation by the State.
3. Principles of operation of valuation councils
a/ Valuation councils shall work on a collegial basis and make decision by the majority rule. A valuation meeting may be held only when it is attended by at least two-thirds of the valuation council’s members and chaired by the valuation council chairperson. Before the valuation meeting, absent members shall send to the valuation council chairperson a document clearly stating the reason for their absence and their opinions on issues related to the price of the asset subject to valuation. For a valuation council with 3 members, its meeting must be attended by all members;
b/ A valuation council shall make a valuation meeting record, valuation report, and notice of valuation result based on the opinion which is voted for by the majority of valuation council members present at the meeting. In case of equal voting, the opinion which is voted for by the council chairperson is the council’s decision on the value of the asset subject to valuation. Valuation council members may reserve their opinions if they disagree with the council’s conclusion on the value of the asset and their opinions will be written in the valuation meeting record;
c/ A valuation council specified in Clause 1 of this Article shall be dissolved after it completes the tasks specified in the decision on its formation. The agency competent to form the valuation council shall handle matters arising after the valuation council is dissolved.
d/ A valuation council may use the seal of the agency deciding to form the council or the agency where the chairperson of the valuation council works.
Article 61. Rights and obligations of agencies, organizations and persons competent to form valuation councils
1. Agencies, organizations and persons competent to form valuation councils have the following rights:
a/ To select individuals who meet the requirements specified in Clauses 1 and 2, Article 60 of this Law to participate in valuation councils;
b/ To hire persons who meet the requirements specified in Clause 2, Article 60 of this Law to participate in valuation councils;
c/ When necessary, to form an assistance group for the valuation council;
d/ To request valuation councils to explain about the contents of valuation reports and notices of valuation results.
2. Agencies, organizations and persons competent to form valuation councils have the following obligations:
a/ To arrange location, time and funds for valuation councils and their assistance groups (if any) to carry out valuation activities;
b/To preserve and retain valuation dossiers in accordance with law;
c/ To update notices of valuation results to price databases, except those on the list of state secrets;
d/ To create conditions for participants in valuation councils to be updated with, and trained in, knowledge about valuation by the State.
Article 62. Rights and obligations of valuation councils
1. A valuation council has the following rights:
a/ To request the provision of information, documents and resources necessary for the valuation;
b/ To hire licensed organizations to verify the techno-economic state and quality of assets; to outsource part or the whole of the valuation work to valuation enterprises;
c/ To consider and decide to use the results provided by consulting units and valuation enterprises;
d/ To report to competent authorities on the lacking of information and documents to carry out valuation;
dd/ Other rights as prescribed by law.
2. A valuation council has the following obligations:
a/ To ensure professional independence; and honesty, objectivity and accuracy in the process of asset valuation; to be held responsible for valuation activities’ compliance with Vietnamese valuation standards;
b/ To review and evaluate regulatory compliance in information collection and analysis, selection of methods of valuation, preparation of valuation reports and valuation deeds in case of outsourcing part or the whole of the valuation work;
c/ To comply with information confidentiality requirements in accordance with law;
d/ Other obligations as prescribed by law.
Article 63. Rights and obligations of members of valuation councils
1. The members of a valuation council have the following rights:
a/ To access information and documents related to the valuation;
b/ To give their opinions and evaluations in the valuation process;
c/ To vote to determine the value of assets subject to valuation; to have their opinions reserved and written in the record of the valuation council meeting, if having different opinions;
d/ To enjoy regimes and policies in accordance with the law on valuation and other relevant laws;
dd/ Other rights as prescribed by law.
2. The members of a valuation council have the following obligations:
a/ To comply with the asset valuation order under regulations;
b/ To ensure professional independence; accuracy, honesty and objectivity; to take responsibility for the quality and completeness of notification of valuation results and valuation reports; to take responsibility for their opinions and evaluations specified at Points b and c, Clause 1 of this Article;
c/ To be updated with professional knowledge about valuation;
d/ To comply with information confidentiality requirements in accordance with law;
dd/ To have other obligations as prescribed by law.
Article 64. Notices of valuation results and valuation reports
1. Notices of valuation results and valuation reports shall be used as a basis to advise competent agencies, organizations and persons to decide on and approve prices under relevant regulations.
2. The validity period of notices of valuation results and attached valuation reports is specified in Vietnamese valuation standard. A notice of valuation results and attached valuation report shall be valid for use only within the validity period of the notice of valuation results for the purpose, associated with the asset(s) in the quantity stated in the document assigning the task of valuation.
Article 65. Valuation expenses
1. Expenses for valuation activities of a valuation council and its assistance group (if any) shall be covered with state budget expenditures of the agency competent to form the valuation council, except the case specified in Clause 2 of this Article. The Ministry of Finance shall specify expenses for valuation activities of valuation councils.
2. In case of valuation upon sale, liquidation, lease, contribution to joint ventures or affiliates and transfer of public assets, expenses for valuation activities of valuation councils and their assistance groups (if any) shall comply with relevant laws.
Article 66. Dossiers of valuation by the State
1. A dossier of valuation must comprise:
a/ The document assigning the task of sale, liquidation, lease, contribution to a joint venture or an affiliate, transfer of public assets, or purchase or rent of goods, services and assets using state capital;
b/ Information and documents on the assets subject to valuation;
c/ The decision to form the valuation council;
d/ Documents collected and analyzed by the valuation council during the process of valuation; expert reports and valuation deeds, enclosed with valuation reports made by valuation enterprises (if any);
dd/ Records of the valuation council’s meetings; valuation report and notice of valuation results of the valuation council;
e/ Other documents related to the valuation (if any).
2. Valuation councils shall hand over dossiers and documents related to their valuation activities to agencies, organizations and person competent to form valuation councils for retention.
Chapter VII
SPECIALIZED INSPECTION OF PRICE, EXAMINATION OF THE OBSERVANCE OF THE LAWS ON PRICE AND VALUATION
Article 67. Purposes of price inspection and examination
1. Purposes of the price and valuation inspection must comply with the law on inspection.
2. Purposes of the examination of observance of the laws on price and valuation are to contribute to improving discipline and bringing about positive effects in the price management and administration and valuation; identify problems and limitations for study and proposal on amendments and supplementations to legal documents on price and valuation; and prevent, detect and handle violations of the laws on price and valuation.
Article 68. Principles of inspection and examination
1. The inspection work must adhere to the principles specified in the law on inspection.
2. The examination of observance of the laws on price and valuation must adhere to the following principles:
a/ To conduct examination under plans and directions of competent authorities or upon detection of acts or signs of law violation;
b/ To avoid overlaps of the examination scope and period with state inspection and auditing activities, and with examination activities in the same field in a unit;
c/ To ensure objectivity and transparency according to the competence, order and procedures provided by law;
d/ To mitigate hindrance to, and impacts on, operation of examined subjects.
Article 69. Inspection and examination periods
1. Inspection period must comply with the law on inspection.
2. Examination period shall be decided in an examination decision but must not exceed 10 days counting from the date of announcement of such decision; in case the scope of examination is large with complicated contents, such period may be extended once for no more than 10 days. Examination minutes must be made within 5 days after the examination period expires.
Article 70. Inspection and examination responsibility
1. Financial inspection agencies shall perform the function of specialized inspection of price in accordance with the law on inspection.
2. The Ministry of Finance, ministries, ministerial-level agencies and provincial-level People’s Committees shall examine the observance of the laws on price and valuation, and assign the examination task to their specialized agencies and attached units.
The Ministry of Finance shall specify the order and procedures for examination of the observance of the laws on price and valuation.
Article 71. Reports on inspection or examination results and responsibility for handling thereof
1. Reports on inspection results and responsibility for handling inspection results must comply with the law on inspection.
2. Reports on examination results must clarify results of the examination; propose handling of economic, administrative and legal issues (if any) of examined subjects; propose amendments and supplementations to mechanisms, policies and legal documents (if any); propose competent agencies to monitor, urge and supervise the implementation of the examination conclusions, proposals and decisions on handling thereof (if any).
Article 72. Handling of violations of the laws on price and valuation
1. Organizations and individuals that violate this Law shall, based on the nature and extents of their violations, be handled in accordance with law.
2. Organizations and individuals that violate this Law shall, in addition to being handled under Clause 1 of this Article, have information on their violations of the laws on price and valuation broadcast in the mass media.
3. The Government shall specify in detail the handling of administrative violations in the field of price and the broadcasting of information on violations of the laws on price and valuation in the mass media.
Chapter VIII
IMPLEMENTATION PROVISIONS
Article 73. Amendment, supplementation, replacement and annulment of a number of clauses and articles of the relevant Laws
1. To amend, supplement and annul a number of clauses and articles of Vietnam Civil Aviation Law No. 66/2006/QH11, which has a number of articles amended and supplemented under Law No. 45/2013/QH13 and Law No. 61/2014/QH13, as follows:
a/ To amend and supplement Clauses 3 and 4, Article 11 as follows:
“3. Aviation service prices include:
a/ Aircraft takeoff and landing service prices; prices of arrival and departure flight administration services; prices of aviation security assurance services; prices of administration services for flights through flight information regions managed by Vietnam; passenger service prices at airports and aerodromes;
b/ Aircraft parking space rental service prices; passenger check-in counter rental service prices; luggage conveyor rental service prices; rental service prices of bridges serving passengers on and off planes; all-in ground commercial technical service prices at airports and aerodromes; departure luggage automatic classification service prices; aviation fuel-filling service prices; service prices for use of underground fuel-filling infrastructure facilities at airports and aerodromes;
c/ Franchising of the right to provide aviation services at airports and aerodromes, including passenger terminals; cargo terminals and warehouses; ground technical-commercial services; repair and maintenance of aviation vehicles and equipment; aviation techniques; provision of in-flight meals; and provision of aviation fuel;
b/ Other aviation service prices.
4. Non-aviation service prices include:
a/ Prices of ground lease services and other essential services at airports and aerodromes;
b/ Prices of other non-aviation services.”;
b/ To amend and supplement Clause 6, Article 11 as follows:
“6. The State’s pricing of goods and services specified at Points a, b and c, Clause 3, and Point a, Clause 4 of this Article must comply with the law on price. Enterprises shall declare and list prices of goods and services specified in Clauses 3 and 4 of this Article in accordance with the law on price.”.
c/ To annul Clauses 7 and 8, Article 11;
d/ To amend and supplement Clause 2, Article 116 as follows:
“2. Domestic aviation passenger transportation service prices must comply with the law on price.”.
2. To amend and supplement Clauses 2 and 3, Article 90 of Vietnam Maritime Code No. 95/2015/QH13, which has a number of articles amended and supplemented under Law No. 35/2018/QH14, as follows:
“2. Service prices at seaports include:
a/ Container loading and unloading service prices; pilotage service prices; pier, wharf and anchorage buoy use prices; and seagoing ship towage service prices.
b/ Other service prices at seaports.
3. The pricing of the services specified at Point a, Clause 2 of this Article must comply with the law on price.”.
3. To amend and supplement a number of articles of Railway Law No. 06/2017/QH14, which has a number of articles amended and supplemented under Law No. 35/2018/QH14, as follows:
a/ To amend and supplement Clause 1, Article 56 as follows:
“1. Prices of the transportation of passengers, luggage and cargoes on national railways shall be decided by railway transportation enterprises; prices of the transportation of passengers and luggage on urban railways shall be decided by provincial-level People’s Committees in accordance with the law on price; and prices of the transportation on special-use railways shall be decided by special-use railway operation enterprises.”;
b/ To amend and supplement Point a, Clause 2, Article 67 as follows:
“a/ The Ministry of Transport shall price railway transport administration services on state-invested railway infrastructure facilities in accordance with the law on price;”.
4. To amend and supplement Clauses 3 and 4, Article 90 of Law No. 16/2017/QH14 on Forestry as follows:
“3. The Minister of Agriculture and Rural Development shall specify forest pricing methods, and guide the setting of price brackets of production forests, protection forests and special-use forests under the all-people ownership.
4. Provincial-level People’s Committees shall decide on forest price brackets in localities under their management.”
5. To amend and supplement Clauses 2 and 3, Article 35 of Law No. 08/2017/QH14 on Hydraulic Work, which has a number of articles amended and supplemented under Law No. 35/2018/QH14, Law No. 59/2020/QH14, and Law No. 72/2020/QH14, as follows:
“2. The competence to price hydraulic products and services for state-funded hydraulic works is provided as follows:
a/ For public-utility hydraulic products and services subject to the order placement method:
The Ministry of Finance shall set maximum prices of public-utility hydraulic products and services falling under the management by the Ministry of Agriculture and Rural Development;
The Ministry of Agriculture and Rural Development shall set specific prices of public-utility hydraulic products and services falling under its competence on the basis of the maximum prices set by the Ministry of Finance;
Provincial-level People’s Committees shall set specific prices of public-utility hydraulic products and services falling under their management.
b/ For other hydraulic products and services:
The Ministry of Finance shall set price brackets of other hydraulic products and services falling under the management by the Ministry of Agriculture and Rural Development;
The Ministry of Agriculture and Rural Development shall set specific prices of other hydraulic products and services falling under its management on the basis of price brackets set by the Ministry of Finance;
Provincial-level People’s Committees shall set specific prices of other hydraulic products and services falling under their management.
3. For hydraulic works invested in the form of public-private partnership and non-state funded hydraulic works, prices of hydraulic products and services shall be determined under contracts between involved parties.”.
6. To amend and supplement Clause 6, Article 83 of Law No. 23/2008/QH12 on Road Traffic, which has a number of articles amended and supplemented under Law No. 35/2018/QH14 and Law No. 44/2019/QH14, as follows:
“6. Provincial-level People’s Committees shall price the services for vehicles going in and out of car terminals based on types of car terminals in accordance with the law on price.”.
7. To amend and supplement Clause 6, Article 79 of Law No. 72/2020/QH14 on Environmental Protection, which has a number of articles amended and supplemented under Law No. 11/2022/QH15, as follows:
“6. Provincial-level People’s Committees shall specify the management of domestic solid wastes of households and individuals in their localities; specify forms and levels of payment by households and individuals for domestic solid waste collection, transportation and treatment based on quantity or volume of sorted wastes; and price household solid waste collection, transportation and treatment services in accordance with the law on price.”.
8. To amend and supplement Clause 2, Article 31 of Electricity Law No. 28/2004/QH11, which has a number of articles amended and supplemented under Law No. 24/2012/QH13, Law No. 28/2018/QH14, and Law No. 03/2022/QH15, as follows:
“2. Brackets of electricity generation prices, electricity wholesale prices, electricity transmission prices, electricity distribution prices, electric-system support service prices, electric-system regulation and operation prices, and electricity market transaction administration prices shall be formulated by related electricity units and appraised by electricity regulatory authorities agencies for submission to the Minister of Industry and Trade and Minister of Finance for approval as assigned by the Government, except the cases specified in Clause 2, Article 62 of this Law. The Minister of Industry and Trade shall assume the prime responsibility for, and coordinate with the Minister of Finance in, guiding methods of formulating brackets of electricity generation prices and electricity wholesale prices, electricity transmission prices, electricity distribution prices, electric-system support service prices, electric-system regulation and operation prices, and electricity market transaction administration prices.”.
9. To amend and supplement a number of articles of Law No. 53/2014/QH14 on Notarization, which has a number of articles amended and supplemented under Law No. 28/2018/QH14, as follows:
a/ To amend and supplement Article 67 as follows:
“Article 67. On-demand notarial service prices
1. Notarization requesters shall pay for on-demand notarial services when requesting notary practice organizations to compile contracts or transaction documents, typewrite, make copies, translate papers or documents, or perform other notarial jobs.
2. Provincial-level People’s Committees shall set maximum prices of on-demand notarial services to be applied to notary practice organizations in their localities. Notary practice organizations shall determine specific prices for different jobs which must not exceed maximum prices of on-demand notarial services promulgated by provincial-level People’s Committees, and list such prices at their head offices. Notary practice organizations that collect on-demand notarial service prices at levels higher than maximum prices and list prices shall be handled in accordance with law.
3. Notary practice organizations shall clearly explain on-demand notarial service prices to notarization requesters.”;
b/ To replace the phrase “notarization remuneration” with the phrase “on-demand notarial service prices” at Point dd, Clause 1, Article 7; Clause 4, Article 22; Clause 2, Article 32; and Clause 4, Article 33; and Point dd, Clause 1, Article 70, and in the title of Chapter VII.
10. To amend, supplement and annul a number of clauses and articles of Law No. 01/2016/QH14 on Property Auction as follows
a/ To amend and supplement the title and Clause 1 of Article 66 as follows:
“Article 66. Auction service prices and property auction expenses
1. Auction service prices and property auction expenses shall be agreed upon by property sellers and property auction organizations in property auction service contracts. In case of auction of the property specified Clause 1, Article 4 of this Law, auction service prices must comply with the law on price.”;
b/ To replaces the phrase “auction remuneration” with the phrase “auction service prices” in Article 1; Point dd, Clause 2, Article 9; Point d, Clause 1, Article 24; Point d, Clause 4, Articles 56; Article 68, and the title of Chapter V;
c/ To annul Point dd, Clause 2, Article 78.
11. To amend, supplement and annul a number of articles of Law No. 07/2017/QH14 on Technology Transfer as follows:
a/ To amend and supplement Point b, Clause 2, Article 47 as follows:
“b/ To send annual reports on technology assessment and inspection results to state management agencies in charge of science and technology.”;
b/ To annul Clause 2, Article 48.
12. To amend and supplement Article 22 of Law No. 69/2020/QH14 on Vietnamese Guest Workers as follows:
“Article 22. Brokerage contracts and service prices under brokerage contracts
1. Brokerage contract means a written agreement between a service provider and an intermediary organization or individual on introduction of a foreign party receiving Vietnamese workers to sign a labor supply contract in accordance with this Law.
2. Service prices under brokerage contracts shall be agreed upon by contracting parties and clearly stated in such contracts but must not exceed the ceiling prices specified in Clause 3 of this Article.
3. The Ministry of Labor, Invalids and Social Affairs shall provide in detail ceiling service prices under brokerage contracts as suitable to different markets, professions, occupations or jobs in each period when Vietnamese guest workers are sent to work abroad.”.
13. To annul Clause 2, Article 19 of Law No. 09/2012/QH13 on Tobacco Harm Prevention and Control, which has a number of articles amended and supplemented under Law No. 28/2018/QH14.
14. To annul Point b, Clause 6, Article 55 of Planning Law No. 21/2017/QH14, which has a number of articles amended and supplemented under Law No. 15/2023/QH15.
15. To annul Article 24 of, and Appendix 02 providing the list of products and services switched from charges to service prices set by the State to, Law No. 97/2015/QH13 on Charges and Fees, which has a number of articles amended and supplemented under Law No. 09/2017/QH14, Law No. 23/2018/QH14, and Law No. 72/2020/QH14.
Article 74. Effect
1. This Law takes effect on July 1, 2024, except the cases specified in Clause 2 of this Article.
2. The provisions of Clause 2, Article 60 of this Law takes effect on January 1, 2026. From July 1 through December 31, 2025, the valuation council must have at least 1 member possessing one of the following professional certificates:
a/ College or higher degree in the major of price and valuation;
a/ Valuer card;
c/ Certificate of professional training in valuation;
d/ Certificate of further training in valuation by the State.
3. Law No. 11/2012/QH13 on Price, which has a number of articles amended and supplemented under Law No. 61/2014/QH13, Law No. 64/2020/QH14, and Law No. 07/2022/QH15 (below referred to as Law No. 11/2012/QH13 on Price) ceases to be effective on the effective date of this Law, except Article 75 of this Law.
Article 75. Transitional provisions
1. Within 12 months after the effective date of this Law, valuation enterprises that have been granted certificates of eligibility for provision of valuation services in accordance with Law No. 11/2012/QH13 on Price must meet the conditions for provision of valuation services specified in this Law. Past such time limit, if valuation enterprises fail to meet the specified business conditions, they may have their certificates of eligibility for provision of valuation services revoked by the Ministry of Finance.
2. Those who have been granted valuer cards under Law No. 11/2012/QH13 on Price may continue to register valuation practice in the fields of asset valuation and business valuation in accordance with this Law.-
This Law was passed on June 19, 2023, by the 15th National Assembly of the Socialist Republic of Vietnam, at its fifth session.-
Chairman of the National Assembly
VUONG DINH HUE
Appendix 01
LIST OF GOODS AND SERVICES SUBJECT TO PRICE VALORIZATION
(To Law No. 16/2023/QH15 on Price)
1. Finished gas and petrol products.
2. Liquefied petroleum gas (LPG).
3. Milk for children under 6 years old.
4. Ordinary paddy and rice.
5. Nitrogen fertilizers; DAP fertilizer; and NPK fertilizer.
6. Animal feed and aquatic feed.
7. Vaccines for livestock and poultry disease prevention.
8. Pesticides.
9. Drugs on the list of essential drugs used at medical examination and treatment establishments.
Appendix 02
LIST OF GOODS AND SERVICES TO BE PRICED BY THE STATE
(To Law No. 16/2023/QH15 on Price)
No. | Names of goods and services | Pricing competence and forms |
1 | Electricity (retail, wholesale); electricity services under the Electricity Law, including electricity generation, electricity transmission, electric system support, electric system-operating regulation, electricity market transaction administration, and electricity distribution services | Specified by the electricity law |
2 | Pipeline natural gas transportation service for electricity generation | The Ministry of Industry and Trade sets specific prices |
3 | Railway transport operation service on state-invested railway infrastructure | The Ministry of Transport sets the maximum price |
4 | Road use service, for roads built under commercial road construction investment projects and placed under central management (except expressway use services) | The Ministry of Transport sets the maximum price |
Road use service, for roads built under commercial road construction investment projects and placed under local management (except expressway use services) | Provincial-level People’s Committees set the maximum price |
5 | Ferry use service, for ferries invested with state budget funds and placed under the central management | The Ministry of Transport sets the price bracket |
Ferry use service, for ferries invested with state budget funds and placed under local management | Provincial-level People’s Committees set the price bracket |
Ferry use service, for ferries invested with capital sources outside the state budget and placed under the central management | The Ministry of Transport sets the maximum price |
Ferry use service, for ferries invested with capital sources outside the state budget and placed under local management | Provincial-level People’s Committees set the maximum price |
6 | Services at seaports (including bridge, wharf and mooring buoy use, container loading and unloading and vessel towing services) | The Ministry of Transport sets the price bracket |
Port and terminal use service, for ports, inland waterway landing stages, fishing ports invested with state budget funds and placed under the central management | The Ministry of Transport sets the maximum price |
Port and terminal use service, for ports, inland waterway landing stages, fishing ports invested with state budget funds and placed under local management | Provincial-level People’s Committees sets the maximum price |
Maritime pilot service | The Ministry of Transport sets the maximum price |
7 | Domestic air passenger transportation service | The Ministry of Transport sets the maximum price |
Official VIP flight and VIP cabin service (with the cost for reserve aircraft taken into account) invested with state budget funds | - The Ministry of Finance sets the maximum price - The Ministry of Transport sets specific prices |
Aircraft parking space rental service; passenger check-in counter rental service; luggage conveyor rental service; passenger boarding bridge rental service; full-package commercial ground technical service at airports and aerodromes; automatic luggage sorting service; aviation fuel filling service; service of using underground fuel filling system infrastructure to supply fuel at airports and aerodromes; franchising of the right to operate aviation services at airports, including franchising of passenger terminals; cargo terminals and warehouses; ground commercial technical service; repair and maintenance of aviation vehicles and equipment; aviation techniques; provision of in-flight meals; provision of aviation fuel | The Ministry of Transport sets the price bracket |
Ground lease service and essential services at airports and aerodromes | The Ministry of Transport sets the price bracket |
Aircraft takeoff and landing service; administration service for arrival and departure flights; administration service for flights through flight information regions managed by Vietnam; passenger services at airports and aerodromes | The Ministry of Transport sets specific prices |
8 | Inspection service for means of transport, including inspection of transport vehicles, total components, parts and spare parts of vehicles; means and equipment for exploration, exploitation and transportation at sea; special-use loading and unloading and construction vehicles and equipment; machinery, equipment and supplies subject to strict occupational safety and health requirements in transportation and special-use technical equipment and devices | The Ministry of Transport sets the maximum price |
Technical inspection service for machinery, equipment, supplies and substances subject to strict occupational safety requirements | The Ministry of Labor, Invalids and Social Affairs sets the price bracket |
Technical inspection service for machinery, equipment, supplies and substances subject to strict requirements on specialized safety of the industrial specialty | The Ministry of Industry and Trade sets the price bracket |
9 | Telecommunications connection service | The Ministry of Information and Communications sets specific prices |
10 | Public-utility postal and public-utility telecommunications service, except services invested with state budget funds t by the order placement method | The Ministry of Information and Communications sets the maximum price |
11 | Royalties for exploitation and use of works, phonograms and video recordings in case of limitations on copyright and related rights under the Law on Intellectual Property | Specified by the law on intellectual property |
Compensations for the right to use inventions licensed under compulsory decisions of competent agencies in case licensees of the right to use inventions and holders of exclusive right to use inventions cannot reach agreement Compensations for the right to use plant varieties licensed under compulsory decisions of competent agencies |
12 | Public-utility hydraulic products and services for hydraulic works built with state budget funds under the management and order placement by the Ministry of Agriculture and Rural Development | - The Ministry of Finance sets the maximum price - The Ministry of Agriculture and Rural Development sets specific prices |
Public-utility hydraulic products and services for hydraulic works built with state budget funds under the management and order placement by localities | Provincial-level People’s Committees sets specific prices |
13 | Other hydraulic products and services for hydraulic works built with state budget funds under the management by the Ministry of Agriculture and Rural Development | - The Ministry of Finance sets the maximum price - The Ministry of Agriculture and Rural Development sets specific prices under its management |
Other hydraulic products and services for hydraulic works built with state budget funds under the management and order placement by localities | Provincial-level People’s Committees set specific prices |
14 | Services in the field of securities of the Vietnam Exchange and its subsidiaries and the Vietnam Securities Depository and Clearing Corporation | The Ministry of Finance sets the price bracket, maximum price, or specific prices (depending on each service) |
15 | Clean water | - The Ministry of Finance sets the price bracket - Provincial-level People’s Committees set specific prices |
16 | National reserve goods (except cases of purchase of national reserve goods through open bidding, competitive offer, direct procurement or auction under the law on national reserves and national reserve goods in the field of national defense and security) | - The Ministry of Finance sets the maximum buying price and minimum selling price for the purchase and sale of national reserve goods by ministries and sectors - Ministries and sectors managing national reserve goods set specific prices based on the maximum buying price and minimum selling price set by the Ministry of Finance. |
National reserve goods in the field of national defense and security | The Ministry of National Defense and Ministry of Public Security set prices for purchase and sale of national reserve goods in the field of national defense and security under the Law on the National Reserve |
17 | Public products and services (public non-business services and public-utility products and services) on the list promulgated by competent authorities, invested with state budget funds and under the ordering competence of central agencies and organizations | - The Ministry of Finance sets the maximum price - Central agencies and organizations set specific prices |
Public products and services (public non-business services and public-utility products and services) on the list promulgated by competent authorities, invested with state budget funds and under the ordering competence of local agencies and organizations | Provincial-level People’s Committees set specific prices |
18 | Medical examination and treatment services priced by the State under the law on medical examination and treatment | Specified by the law on medical examination and treatment |
19 | Medical quarantine and preventive medicine services at public medical establishments | - The Ministry of Health sets the maximum price - Provincial-level People’s Committees set specific prices |
Opioid addiction treatment services at public non-business units | - The Ministry of Health sets the maximum price - Provincial-level People’s Committees set specific prices |
20 | Whole blood and blood products up to standards | The Ministry of Health sets the maximum price |
21 | Testing services for drug specimens and medicinal ingredients at public non-business units that can self-cover regular expenses, public non-business units that can self-cover part of regular expenses, and public non-business units with regular expenses covered by the State | The Ministry of Health sets specific prices |
22 | Vaccination, antidotal and sterilization services for animals, veterinary diagnostics; drug testing services for animals and plants | The Ministry of Agricultural and Rural Development sets the price bracket |
23 | Textbooks | The Ministry of Education and Training sets the maximum price |
24 | Tuition fees and services in the field of education and training at public early childhood education institutions and general education institutions priced by the State under the law on education. | Specified by the law on education |
Tuition fees and services in the field of education and training at public higher education institutions priced by the State under the law on education | Specified by the law on education and the law on higher education |
Tuition fees and services in the field of education and training at public vocational education institutions priced by the State under the law on vocational education | Specified by the law on vocational education |
25 | Brokerage service under brokerage contracts to send Vietnamese workers abroad; services of sending Vietnamese workers abroad as guest workers | The Ministry of Labor, Invalids and Social Affairs sets the maximum price |
26 | Official-duty houses | Specified by the housing law |
Social houses under the Housing Law |
Condominium operation management service for state-owned apartment buildings in localities |
Housing and other services to be priced by the State under the Housing Law |
27 | Goods and services provided for the performance of national defense and security tasks by national defense and security units and enterprises that have placed orders for such goods and services | The Ministry of National Defense and Ministry of Public Security set specific prices according to their competence |
28 | Auction service for property required by law to be sold through auction | The Ministry of Justice sets the price bracket |
29 | Public non-business services invested with state budget funds, with prices calculated under the roadmap on collection from service users | Ministries, ministerial-level agencies, and provincial-level People’s Committees set the price bracket, maximum price or specific prices, (depending on each service) |
30 | Products and services that use information from databases and information systems managed by ministries and sectors at the request of organizations and individuals (excluding services for which charges and fees are collected under the law on charges and fees) | Ministries and sectors assigned to manage such databases and information systems decide on specific prices, maximum prices, and price brackets (depending on each service) |
31 | Land falling into cases subject to pricing by the State under the land law | Specified by the land law |
32 | Special-use forests, protection forests and production forests owned by the entire people and placed under local management | Provincial-level People’s Committees set price brackets |
33 | Cadastral survey and mapping services in cases competent state agencies allocate or lease land areas or permit land repurposing in localities where cadastral maps are not available | Provincial-level People’s Committees set specific prices |
34 | Cemetery services and cremation services of cremation facilities invested with state budget funds | Provincial-level People’s Committees set specific prices |
35 | Services of getting in and out of car terminals | Provincial-level People’s Committees set the maximum price |
36 | Passenger and luggage transportation services on urban railways | Provincial-level People’s Committees set specific prices |
37 | Services of household solid waste collection, transportation and treatment | Provincial-level People’s Committee set the maximum price applicable to investors, facilities collecting, transporting and treating household solid wastes; and set specific prices for agencies, organizations, production, business and service establishments, concentrated production, business and service zones, cottage industry zones, households, and individuals |
38 | Water drainage and wastewater treatment services (except prices of water drainage and wastewater treatment services for industrial parks and cottage industry zones invested by capital sources outside the state budget) | Provincial-level People’s Committees set specific prices |
39 | Parking service invested with state budget funds | Provincial-level People’s Committees set specific prices |
40 | Services of renting shared-use technical infrastructure facilities invested with state budget funds | Provincial-level People’s Committees set specific prices |
41 | On-demand notarial services | Provincial-level People’s Committees set the maximum price |
42 | Service of using goods-selling spaces at markets invested with state funds | Provincial-level People’s Committees set specific prices |
[1] Công Báo Nos 859-860 (28/7/2023)
Vietnamese
Law 16/2023/QH15 DOC (Word)
Law 16/2023/QH15 PDF (Original)
