DECISION

On Procedures and authorization for issuance of objection and no-objection letters for private sector operations in Vietnam of international finance organizations

Pursuant to the Law on Governmental Organization dated June 19, 2015; Law on amendments to the Law on Governmental Organization and the Law on Local Government Organization dated November 22, 2019;

Pursuant to the Law on International Treaty dated April 09, 2016;

Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;

Pursuant to Decree No. 123/2016/ND-CP dated September 01, 2016 of the Government on function, tasks, powers and organizational structures of the Ministry and Ministerial agencies;

Pursuant to Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government on function, tasks, powers and organizational structures of the State Bank of Vietnam;

At the request of the Governor of the State Bank of Vietnam;

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Chapter I

GENERAL PROVISIONS

Article 1. Regulated scope and entities

1. This Decision provides for procedures and authorization of ministries and agencies of Vietnam and international finance organizations related to issuance of objection and no-objection letters for private sector operations in Vietnam of international finance organizations for getting rights and obligations of Vietnam in international treaties of which Vietnam is a signatory.

2. This Decision does not apply to the settlement of disputes, claims or other matters arising after issuing objection or no-objection letters.

3. This Decision applies to relevant ministries, agencies and international finance organizations related to the procedures for issuance of objection and no-objection letters for private sector operations in Vietnam of international finance organizations.

Article 2. Definitions

1. "proposals for expression of no objection” mean proposals of international finance organizations sent to relative ministries and agencies of Vietnam for expressing no objection private sector operations in Vietnam of international finance organizations by Vietnam.

2. “Objection and no-objection letters” mean letters consisting of objections or no objections of Vietnam to proposals for expression of no objection. 

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4. “private sector operations" mean operations including grant, loan, capital contribution, commercial grant, guarantee, technical support and other operations in accordance with laws of Vietnam which are performed by international finance organizations and related to the private sector without guarantee by Vietnam’s Government

5. “Presiding authorities” mean ministries, ministerial agencies, governmental agencies playing a role of representative at international finance organizations or authorities presiding over the conclusion of international treaties with international finance organizations.

Chapter II

RULES AND PROCEDURES FOR ISSUANCE OF OBJECTION AND NO-OBJECTION LETTERS

Article 3. Rules for issuance of objection and no-objection letters

1. Objection and no-objection letters are issued in compliance with regulations of laws, policies, decisions and plans for socio-economic development of Vietnam according to each period.

2. Objection and no-objection letters only express the objection or no objection of Vietnam to each private sector operation of international finance organizations in Vietnam at the time of issuing the objection and no-objection letters.

3. No-objection letters are not permits, written approvals for policies on investment or implications of guarantee of Vietnam in terms of private sector operations of international finance organizations. The no objection does not carry any liability and obligation of the State or State agencies of Vietnam according to international laws and laws of Vietnam.

The international finance organizations and other relevant parties operating in Vietnam must, after being issued with no-objection letters, ensure the compliance with international commitments, regulations of existing laws of Vietnam and agreements between relevant parties.

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1. Presiding authorities shall receive, consolidate and evaluate the proposals for expressing no objection of international finance organizations according to regulations herein.

2. In case the received documents meet requirements according to the List of information prescribed in Appendix I of this Decision, the presiding authorities shall collect opinions of the Ministry of Investment and Planning, Ministry of Finance, Ministry of Foreign Affairs, Ministry of Public Security, Ministry of National Defense, State Bank of Vietnam, ministries and agencies related to the fields mentioned in the proposals for expression of no objection in writing within 07 working days from the date of receiving the proposals.

Relevant ministries and agencies shall express their opinions in writing on the proposals for expression of no objection at the requests of the presiding authorities within 10 working days from the date on which the presiding authorities send the written proposals.

3. In case the received documents do not meet requirements according to the List of information prescribed in Appendix I of this Decision, the presiding authorities shall require the international finance organizations to provide additional information. The international finance organizations shall be responsible for providing adequate and accurate information and documents at the requests of the presiding authorities.

After receiving enough documents according to the List of Information prescribed in Appendix I of this Decision, the presiding authorities shall handle the proposals for expression of no objection according to the process prescribed in clause 2 of this Article.

4. On the basis of opinions of relevant ministries and agencies, the presiding authorities shall comply with the following order:

a) The presiding authorities shall decide the conclusion and issuance of objection and no-objection letters on the basis of the opinions of relevant ministries and agencies;

b) The presiding authorities shall appeal to the Prime Minister of Vietnam to consider and decide the authorization for conclusion and issuance of the objection and no-objection letters of the presiding authorities in case there are opinions of objection from relevant ministries and agencies or proposals for expression of no objection of international finance organizations consist of elements inappropriate to rules prescribed in Article 3 hereof.

Samples of objection and no-objection letters are prescribed in Appendices II and III of this Decision.

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1. The presiding authorities, relevant ministries, agencies and international finance organizations are responsible for cooperating in an adequate, effective and prompt manner in the period of handling proposals for expression of no objection ensuring the maximum protection of legal rights and benefits of Vietnam and compliance with international commitments of Vietnam and regulations of laws.

2. Based on the scope of functions, tasks and powers, relevant ministries and agencies shall give opinions on the proposals for expression of no objection on the basis of the proposals of the presiding authorities and regulations herein.

Contents of the given opinions need to be clarified as objection or no objection to private sector operation. If relevant ministries and agencies have opinions on objection, they need to clarify reasons for the objection.

3. The international finance organizations shall cooperate with the presiding authorities according to regulations herein and be responsible for the accuracy of information provided to the presiding authorities, relevant ministries and agencies.

The international finance organizations need to clarify their understanding of and agreement to rules for issuance of objection and no-objection letters in the written proposals for expression of no objection according to regulations in Article 3 hereof.

Article 6. Responsibilities of the presiding authorities

1. Take charge and cooperate with relevant ministries, agencies and international finance organizations in:

a) receiving, handling, evaluating applications for expression of no objection and giving their opinions on them according to regulations herein;

b) consolidating and appealing to the Prime Minister of Vietnam to consider and express opinions in case there are opinions of objection from relevant ministries and agencies as prescribed in clause 4 Article 4 hereof;

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2. Decide conclusion and issuance of objection and no-objection letters or appeal to the Prime Minister of Vietnam according to regulations herein.

Article  7. Tasks and entitlements of relevant ministries and agencies

1. Cooperate with presiding authorities in giving their opinions about the proposals for expression of no objection according to regulations herein.

2. Cooperate with the presiding authorities in requesting international finance organizations to provide additional information and clarify information on the proposals for expression of no objection and objection (if any).

Chapter III

ORGANIZING IMPLEMENTATION

Article 8. Implementation clauses

1. This Decision comes into force from the day on which it is signed.

2. Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Presidents of the People's Committees of provinces and central-affiliated cities and relevant international finance organizations are responsible for implementation of this Decision./.

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PP. PRIME MISNISTER
DEPUTY PRIME MINISTER




Pham Binh Minh