Principles for the development, issuance, and implementation of legislative documents on finance in Vietnam

Principles for the development, issuance, and implementation of legislative documents on finance in Vietnam​ (Image from internet)

On November 27, 2024, the Minister of Finance of Vietnam issued Decision 2829/QD-BTC on the Regulation for the development, issuance of legislative documents, and implementation of financial laws.

Principles for the development, issuance, and implementation of legislative documents on finance in Vietnam​

The principles for the development, issuance, and implementation of financial legislative documents in Vietnam are regulated as follows:

(1) On the principles of developing and issuing legislative documents:

- Ensure compliance with the principles specified in Article 5 of the Law on Issuance of legislative documents and the principles specified in this Regulation;

- Ensure adherence to the spirit, contents of the Vietnam Communist Party resolutions, constitutional provisions, and policy contents approved by the competent authority; strengthen power control, prevent corruption, negativity, group interests, and local interests in the law-making work;

- Ensure the leadership of the Vietnam Communist Party in the process of proposing and drafting legislative documents. The head of the drafting unit must sign to seek consensus from the collective Party Committee of the Ministry of Finance before the Minister of Finance issues it under authority or submits to the competent authority for issuance;

- Ensure the responsibility of the head of the unit for directly directing the construction, completion of institutional work within the unit, and accountability to the Party Committee and Ministry Leadership for the quality, progress of the proposals under the assigned fields; in case of delays or failure to complete tasks, the causes must be clearly evaluated and bear responsibility before the Party Committee and Ministry Leadership.

(2) On the principles of organizing the implementation of legislative documents:

- Dissemination and propagation of newly issued legislative documents in the financial sector must be organized promptly; focused, effective; closely follow key tasks of the financial sector, leverage the strengths of each unit, and actively engage the press and financial sector magazines.

- The consolidation of documents must not alter the content and effectiveness of the consolidated document; only consolidate documents issued by the same competent state authority; comply with the sequence and techniques for document consolidation stipulated in the Ordinance on Codification of Legal Normative System 2012.

- Codification of the legal normative system must ensure accuracy, do not alter the content of the legal norms codified; follow the legal hierarchy from high to low effectiveness; promptly update newly issued legal norms into the legal code and remove expired norms from the code; follow the process, procedures, and codification techniques prescribed in the Ordinance on Codification of Legal Normative System 2012 and Decree 63/2013/ND-CP dated June 27, 2013, of the Government of Vietnam, detailing the implementation of the Ordinance on Codification of Legal Normative System 2012.

- Document reviews must be conducted regularly, immediately when there is a basis for review; ensure no omission of documents under the review responsibility; promptly handle review results; comply with review sequences. Systematization of documents must be conducted periodically, systematically; follow the systematization sequence; promptly publish the Systematized Document Collection and the list of effective documents.

- Document inspection must be conducted immediately after the document is passed or issued; ensure timeliness, objectivity, transparency; correct in jurisdiction, sequence, procedure. Heads of units under the Ministry are responsible for self-checking, handling documents, and accountable for inspection conclusions and document handling decisions.

Detailed content can be found in Decision 2829/QD-BTC effective from November 27, 2024.

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