Ministry of Finance of Vietnam to implement the Program for formulating documents guiding Laws passed by the National Assembly at the 7th Session

Ministry of Finance of Vietnam to implement the Program for formulating documents guiding Laws passed by the National Assembly at the 7th Session (Image from Internet)

On October 8, 2024, the Minister of Finance of Vietnam issued Decision 2392/QD-BTC on the implementation of the Program for formulating documents guiding Laws and Resolutions approved by the 15th National Assembly at the 7th Session.

Ministry of Finance of Vietnam to implement the Program for formulating documents guiding Laws passed by the National Assembly at the 7th Session

The Ministry of Finance of Vietnam assigns units to lead the drafting of detailed regulatory documents implementing Resolution 137/2024/QH15 dated June 26, 2024, by the National Assembly, on supplementing certain special policies for the development of Nghe An province, the Social Insurance Law (amended), and the Archives Law (amended), approved by the 15th National Assembly at the 7th Session, under the responsibility of the Ministry of Finance of Vietnam as specified in the attached Appendix.

Regarding the task of drafting detailed regulations of the Real Estate Business Law (assigned according to Decision 316/QD-BTC dated February 26, 2024, of the Ministry of Finance), the Administration of Non-Business Finance Department is responsible for leading, in cooperation with the Price Management Department, the drafting of the Circular regulating the use of funds for building, investigating, collecting information, updating, maintaining, and operating the information system, housing and real estate market database; providing guidelines for determining prices for providing information services, housing and real estate market data as per pricing law; and managing, using the revenue from providing information services, ensuring simultaneous effectiveness with the Real Estate Business Law as amended according to Law No. 43/2024/QH15 amending and supplementing certain articles of the Land Law No. 31/2024/QH15, Housing Law No. 27/2023/QH15, Real Estate Business Law No. 29/2023/QH15, and Credit Institutions Law No. 32/2024/QH15.

Regarding the implementation responsibilities of units under the Ministry of Finance of Vietnam:

- Heads of units assigned to lead the drafting of implementing regulations are responsible for:

+ Complying with the procedures and processes of developing and promulgating legal normative documents as prescribed by the Law on the Promulgation of Legal Normative Documents 2015, the Law amending and supplementing certain articles of the Law on the Promulgation of Legal Normative Documents, detailed regulations and guidance, and the Regulation on developing and promulgating financial legal normative documents issued under Decision No. 72/QD-BTC dated January 20, 2022, by the Minister of Finance, and official dispatch No. 11971/BTC-PC dated November 3, 2023, of the Ministry of Finance guiding the drafting process of legal normative documents.

If any cited documents in this Decision are amended, supplemented, or replaced by new documents during implementation, follow the new documents.

+ Adhering to the schedule for constructing, submitting, and ensuring the quality of drafted documents.

+ By the 20th of each month or when requested by the competent authority, the unit assigned to lead the drafting will report on the drafting situation to the Legal Department for synthesis in reports to the Ministry Leader.

- The Legal Department is responsible for leading, in cooperation with the Ministry's Office, monitoring, urging, and inspecting the implementation; compiling into a report on the situation and results of implementing the program for developing legal normative documents led by the Ministry of Finance of Vietnam to report to the Ministry leadership no later than the 30th of each month.

More details can be found in Decision 2392/QD-BTC, which comes into force in Vietnam from October 8, 2024.

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