Regulations on valuation training in Vietnam as of July 1, 2024

Regulations on valuation training in Vietnam as of July 1, 2024 (Internet image)

Regulations on valuation training in Vietnam as of July 1, 2024

*Trainees

- Individuals who wish to take the exam to be granted a valuer card.

- Other individuals who wish to attend training classes in valuation.

(Article 8 of Circular 39/2024/TT-BTC)

*Training providers

Any entities that meet the requirements specified in Article 4 of this Circular are eligible to provide valuation training:

- Higher education institutions that provide bachelor’s disciplines in valuation in accordance with education and training law.

- Entities with the function of training, refresher training in valuation under the Ministry of Finance.

- Professional associations of valuation.

(Article 9 of Circular 39/2024/TT-BTC)

Delivery mode, content and training program in valuation in Vietnam

- Valuation training class can be delivered in either a single continuous session or spread across multiple sessions, with a maximum duration of 3 months per class and the training class must provide sufficient time for teaching and learning, and adhere to the content and program requirements outlined in Clause 2 of this Article.

- Training content and program:

In there:

(i) Training class in asset valuation includes 5 topics: Laws applied in the field of valuation; Principles of market price formation and Basic principles of valuation; Real estate valuation; Valuation of personal property 1 (Valuation of machinery and equipment); Valuation of personal property 2 (Valuation of intangible assets and other personal property);

(ii) Training class in business valuation includes the topics specified in (i) and 2 topics below: Corporate financial analysis; Business valuation;

(iii) The duration for a training class specified in (i) is 116 hours, for a training class specified in (ii) is 160 hours, excluding duration for review and learning outcome assessment specified in Article 11 of Circular 39/2024/TT-BTC;

(iv) Trainees who successfully complete the training class outlined in (i) are eligible to enroll in additional classes to fulfill the program requirements specified in (ii).

(Article 10 of Circular 39/2024/TT-BTC)

Examination and assessment of trainees’ performance

- At the end of the valuation training class, the training provider must administer an examination to evaluate the trainees’ performance.  The content of the examination must demonstrate basic knowledge of the topics in the curriculum:

+ For the training classes specified in Points a and b, Clause 2, Article 10 of Circular 39/2024/TT-BTC, the assessment shall be conducted through two (2) written examinations; the general knowledge examination shall be 120 minutes long, and the professional knowledge examination shall be 150 minutes long;

+ For trainees as prescribed in Point d, Clause 2, Article 10 of Circular 39/2024/TT-BTC, they must take 1 (one) 150-minute written examination for additional topics.

- Examination scores are graded on a scale of 10 (ten).  A score below 5 points on the examination is considered failing.

- Trainees who do not attend at least 80% of the required class time for each topic will not be allowed to take the examination for that topic and will be required to retake the missing topic.

- In cases where a trainee is unable to attend the examination due to special reasons such as pregnancy, accident, or illness with a medical certificate from a hospital (hereinafter referred to as "special reasons"), the trainee must submit a request for postponement of the examination and obtain approval from the head of the training provider.

- Trainees who have failed an examination or those who were unable to attend an examination due to special reasons as specified in Clause 4 of Article 11 of Circular 39/2024/TT-BTC are entitled to retake each examination once. The head of the training provider shall determine the schedule for retakes for these trainees, but the retake must be conducted within no more than 6 (six) months from the completion date of the training class.

Le Nguyen Anh Hao

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