State management of the national reserve of Vietnam

Nguyen Trinh

11:52, 10/06/2018

National reserves are reserves held by a country - an activity that every country must perform. National reserve activities are necessary as an effective tool for the government to macro-manage the economy. So, how are Vietnam’s regulations on the state management of the national reserve?

According to Article 10 of the Law on the National Reserves 2012 of Vietnam, the state management of the national reserve includes:

One, promulgate, and organize the implementation of, legal documents on the national reserves.

Two, decide the national reserve development strategies, plans and policies.

Three, compile the list of commodities in national reserve; allocate state budget for national reserves; decide the storage, release, purchase and sale of commodities in national reserve.

Four, organize the research and application of scientific and technological advances and preservation technologies to commodities in national reserves.

Five, propagate and disseminate the law on the national reserves.

Six, provide training in national reserves.

Seven, carry out inspections, settle complaints and accusations, and handle violations against the laws on the national reserves.

Eight, organize international cooperation in the national reserves.

View more details at: The Law on the National Reserves 2012 of Vietnam officially takes effect from July 01, 2013.

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