Vietnam: 14 tasks and powers of the Ministry of Finance on appraisal of prices

According to Decree No. 89/2013/ND-CP of Vietnam’s Government, the Government performs the unified state management over activities of appraisal of prices and the Ministry of Finance shall be responsible before the Government for performing the function of state management on appraisal of prices and have the following tasks and powers:

1. Formulating, submitting to the Government for deciding strategies and plans on development of price appraisal profession in Vietnam;

2. Formulating and submitting the Government for promulgating, under its competence, legal documents on appraisal of prices, criteria of appraisal of prices in Vietnam;

3. Organizing implementation of strategies and plans on development of the price appraisal profession, legal documents on appraisal of prices, criteria of appraisal of prices in Vietnam;

4. Prescribing the conditions for participating in examinations, organization of examinations and conditions to grant cards of price appraisers; management, grant and withdrawal of cards of price appraiser;

5. Prescribing the training, grant of certificate of training the professional operations on price appraisal; re-training specialized knowledge on appraisal of prices for the practicing price appraisers;

6. Prescribing the organization and management of science research, training, retraining for cadres, civil servants about appraisal of prices;

7. Prescribing the model, grant and withdrawal of certificate of eligibility for business in price appraisal services; prescribing the registration and management of practicing appraisal of prices; publicizing the list of the practicing price appraisers and list of the price appraisal enterprises in nationwide;

8. Prescribing the purchase of professional liability insurance for activities of appraisal of prices or the setting up of the reserve fund for professional risks applicable to the price appraisal enterprises;

9. Performing state management in appraisal of prices in respect to the price appraisal enterprises, professional organizations of appraisal of prices as prescribed by law;

10. Performing international cooperation on appraisal of prices;

11. Inspecting, examining, and solving complaints or denunciation and handling acts breaching law on appraisal of prices;

12. Summing up, assessing on activities of appraisal of prices; prescribing the quality control of appraisal of prices and the compliance with regulation of State on appraisal of prices;

13. Performing appraisal of prices or taking responsibility for organization of appraising price of state-owned assets at the request of the Government, the Prime Minister;

14. Prescribing the regimes of report, collection and summarizing of information in order to build database in serve of the information provision and state management on appraisal of prices.

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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