THE MINISTRY OF FINANCE
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
No. 56/2014/TT-BTC
Hanoi, April 28, 2014
 
CIRCULAR
Guiding the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices [1]
Pursuant to the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices;
Pursuant to the Government’s Decree No. 215/2013/ND-CP of December 23, 2013, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At the proposal of the Director of the Department of Price Management;
The Minister of Finance promulgates the Circular guiding the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Circular guides a number of articles of the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices (below referred to as Decree No. 177/2013/ND-CP) regarding price valorization; price determination by the State; price consultation; inspection of price-forming factors; and price declaration.
Article 2. Subjects of application
Producers and traders; consumers; state agencies; and other organizations and individuals engaged in price valorization, price determination; price consultation; inspection of price-forming factors; and price declaration in the Vietnamese territory.
Chapter II
SPECIFIC PROVISIONS
Section 1
PRICE VALORIZATION
Article 3. Responsibilities of advisory agencies under the Ministry of Finance, ministries, ministerial-level agencies and People’s Committees of provinces and centrally run cities in conducting price valorization under Article 7 of Decree No. 177/2013/ND-CP
1. The Ministry of Finance’s advisory agency is the Department of Price Management, which shall:
a/ Monitor, summarize, analyze and forecast price developments in the domestic and world markets; assume the prime responsibility for, and coordinate with related agencies in, working out price valorization policies and measures for submission to the Minister of Finance for reporting to the Government for consideration and decision; guide and organize the implementation of price valorization measures falling under the competence of the Ministry of Finance;
b/ Coordinate with ministries and ministerial-level agencies in considering and deciding on price valorization policies and measures falling under the competence of ministries and ministerial-level agencies; guide and organize the implementation of price valorization measures according to regulations;