How are Vietnam’s regulations on the establishment of the price appraisal Council?

According to Article 28 of Decree No. 89/2013/ND-CP of Vietnam’s Government, establishment of the price appraisal Council is specified as follows:

The asset price appraisal Council of the Ministry of Finance is established under competence on state management of the Government, the Prime Minister, leader of the Ministry of Finance or an authorized person is chairperson of Council, other members include:

- Representative of unit specialized in price management under the Ministry of Finance;

- Representative of unit specialized in state asset management under the Ministry of Finance;

- The Chairperson of Council shall, based on nature, characteristics of assets subject to price appraisal, decide other members.

 For the asset price appraisal Council of other Ministry, Ministerial-level agency, Governmental agency, other agency at Central level (hereinafter abbreviated to Ministry, Central agency), leader of Ministry or Central agency possessing assets subject to price appraisal or an authorized person is chairperson of Council, other members include:

- Head of unit possessing assets subject to price appraisal;

- Representative of unit specialized in price management or financial management under the Ministry, central agency and division specialized in price or finance, accounting of unit possessing assets subject to price appraisal;

- Agencies competent to decide on the establishment of Council shall, based on nature, characteristics of assets subject to price appraisal, decide other members.

For the asset price appraisal Council at provincial or district level, leader or an authorized person of state finance agency (Department of Finance, Division of Finance and Planning) is chairperson, other members include:

- Representative of unit possessing assets subject to price appraisal;

- Representative of unit specialized in price management, finance management of the state financial agency;

- Agencies competent to decide on the establishment of Council shall, based on nature, characteristics of assets subject to price appraisal, decide other members.

For the asset price appraisal Council of agencies, organizations, units (hereinafter collectively referred to as units) assigned to purchase, sell, manage and use assets, leader of unit possessing assets subject to price appraisal or an authorized person is chairperson of Council, other members include:

- Representative of division specialized in price or finance, accounting of unit assigned to purchase, sell, manage, use of assets;

- Representative of division specialized in price or finance of the superior agency;

- Agencies competent to decide on the establishment of Council shall, based on nature, characteristics of assets subject to price appraisal, decide other members.

Note: The price appraisal Council must have at least one member trained, improved the professional operations specialized in price appraisal as prescribed by the Ministry of Finance or had graduation diploma of college, university, post-university specialized in price, price appraisal.

View more details at Decree No. 89/2013/ND-CP of Vietnam’s Government, effective from September 25, 2013.

Ty Na

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