Decree No. 09/2012/L-CTN promulgates the Price Law, stipulating the determination and management of prices for goods and services in a market economy.
Key points
- The Price Law applies to organizations and individuals engaged in production, business of goods, and provision of services within the territory of Vietnam.
- subject to regulation including both state and free market mechanisms in price determination.
🌐 Social impact of this document
- Positive impact: Creates a legal basis for price management, protects consumer rights, and promotes fair competition in the market.
- Negative impact: May cause difficulties in price adjustment processes for small and medium-sized enterprises.
❓ Frequently asked questions
Who does the Price Law apply to?
The Price Law applies to all organizations and individuals engaged in production, business of goods, and provision of services within the territory of Vietnam.
How many price levels are specified in the Law?
The Law does not specify the number or levels of prices. Instead, it establishes principles and procedures for managing prices according to each type of goods and service.
What is the publication period for the Price Law?
The decree promulgating the Price Law was issued on July 2, 2012.
When does the Price Law come into effect?
The effectiveness of the Price Law begins from the date when the National Assembly passes it, specifically June 20, 2012.
How many agencies implement price management under the Law?
The Law does not specify the number of price management agencies. However, competent state agencies such as the Ministry of Industry and Trade and related units will be responsible.
Full text
| PRESIDENT OF THE STATE | SOCIALIST REPUBLIC OF VIETNAM |
| Independence - Freedom - Happiness | |
| Number: 09/2012/L-CTN | Hanoi, July 2, 2012 |
ORDER
Regarding the promulgation of the Law
CHAIRMAN
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
Pursuant to Article 91 of the Law on the Organization of the National Assembly;
On the basis of Article 103 and Article 106 of the Constitution of the Socialist Republic of Vietnam in 1992, amended and supplemented by Resolution No. 51/2001/QH10 dated December 25, 2001 of the Tenth Session of the Xth National Assembly;
NOW PROMULGATE
Law on Prices
Pursuant to Article 57 of the Law on Legislative Documents;
| CHAIRMAN | |
| SOCIALIST REPUBLIC OF VIET NAM | |
| Truong Tan Sang |
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