DECREE NO. 12/2022/QD-TTg REGULATING THE PROCEDURES, FORMALITIES AND AUTHORITY FOR ISSUING OPPOSITION AND NON-OBJECTIOR LETTERS FOR PRIVATE SECTOR ACTIVITIES IN VIETNAM BY INTERNATIONAL FINANCIAL ORGANIZATIONS

Pursuant to …;

Regulations on the procedures, formalities, and authority for issuing Letters of Objection and Non-Objection for activities in the private sector in Vietnam by international financial organizations.

does not object to the activities of international financial organizations in the special administrative region in Vietnam

of international financial organizations

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the ASEAN Framework Agreement on Facilitation of Intra-Regional Land Transport signed on December 10, 2009;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Based on Decree No. 1Decree No. 23/2016/NĐ-CP dated September 1, 2016 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies;

Pursuant to Government Decree No. 16/2017/NĐ-CP dated February 17, 2017 on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Governor of the State Bank of Vietnam;

The Prime Minister issues this Decision to regulate the procedures, formalities, and authority of relevant ministries and agencies of Vietnam and international financial organizations in issuing Letters of Objection and Non-Objection for activities in the private sector in Vietnam by international financial organizations, thereby implementing Vietnam's rights and obligations under international treaties to which Vietnam is a party.

Chapter I
GENERAL PROVISIONS

Article 1. Scope of Regulation and Applicability

1. This Decision regulates the procedures, formalities, and authority of relevant ministries and agencies of Vietnam and international financial organizations in issuing Letters of Objection and Non-Objection for activities in the private sector in Vietnam by international financial organizations with the aim of fulfilling Vietnam's rights and obligations under international treaties to which Vietnam is a party.

2. This Decision does not apply to the resolution of disputes, complaints, or other issues arising after the issuance of Letters of Objection and Non-Objection.

3. This Decision applies to relevant ministries and agencies and international financial organizations involved in the process of issuing Letters of Objection and Non-Objection for activities in the private sector in Vietnam by international financial organizations.

Article 2. Interpretation of Terms

1. A request for a non-objection opinion is a request from international financial organizations sent to relevant ministries and agencies of Vietnam regarding Vietnam's non-objection opinion on activities in the private sector in Vietnam by international financial organizations.

2. A Letter of Objection and Non-Objection is a letter containing Vietnam's objection or non-objection opinion on the request for a non-objection opinion.

3. International financial organizations include international financial organizations of which Vietnam is a member or has signed international treaties containing provisions that international financial organizations will not finance activities in the private sector in member states if those states object.

4. Activities in the private sector include financing, lending, equity investment, trade finance, guarantees, technical assistance, and other activities not contrary to domestic laws carried out by international financial organizations related to the private sector without government guarantees from Vietnam.

5. The lead agency is a ministry, ministerial-level agency, or government agency representing Vietnam at international financial organizations or the agency primarily responsible for signing international treaties with international financial organizations.

Chapter II
PRINCIPLES, PROCEDURES, AND FORMALITIES FOR ISSUING LETTERS OF OBJECTION AND NON-OBJECTION

Article 3. Principles for Issuing Letters of Objection and Non-Objection

1. Letters of Objection and Non-Objection shall be issued based on compliance with legal regulations and policies, decisions, and development plans for economic and social affairs of Vietnam during each period.

2. Letters of Objection and Non-Objection only express Vietnam's objection or non-objection to specific activities in the private sector by international financial organizations entering Vietnam at the time of issuing the Letters of Objection and Non-Objection.

3. A Letter of Non-Objection is not a permit, approval document, or indication of Vietnam's support for activities in the private sector by international financial organizations. The act of non-objection does not create any responsibility or obligation of the State or state agencies of Vietnam under international law and Vietnamese law. Activities of international financial organizations and other related parties in Vietnam after receiving a Letter of Non-Objection must comply with international commitments, current Vietnamese laws, and agreements between the parties involved.

Article 4. Procedure for Issuing Non-Objection Letters

1. The leading agency shall receive, compile, and evaluate the requests for non-objection opinions from international financial organizations as prescribed in this Decision.

2. In cases where the received files meet the requirements set out in the Information List specified in Appendix I of this Decision, the leading agency shall seek the written opinions of the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Public Security, the Ministry of National Defense, the State Bank of Vietnam, and other relevant ministries and agencies within seven working days from the date of receipt of the request. Relevant ministries and agencies shall provide their written opinions on the request for non-objection opinions within ten working days from the date the leading agency sends the request letter.

3. Where the received files do not meet the requirements set out in the Information List specified in Appendix I of this Decision, the leading agency shall request international financial organizations to supplement information. International financial organizations have the responsibility to provide complete and accurate information and documents as requested by the leading agency. After receiving all files according to the Information List specified in Appendix I of this Decision, the leading agency shall process the request for non-objection opinions in accordance with the procedures stipulated in Clause 2 of this Article.

4. Based on the opinions of relevant ministries and agencies, the leading agency shall proceed as follows:

a) The leading agency decides to sign and issue the Objection Letter or Non-Objection Letter based on considering the opinions of relevant ministries and agencies;

b) The leading agency reports to the Prime Minister for consideration and decision on entrusting the leading agency to sign and issue the Objection Letter or Non-Objection Letter in cases where there are objections from relevant ministries and agencies or where the request for non-objection opinions from international financial organizations contains elements inconsistent with the principles set forth in Article 3 of this Decision.

The model Non-Objection Letter and Objection Letter are specified in Appendix II of this Decision.

Article 5. Principles for Coordination between Ministries, Agencies, and International Financial Organizations

1. The leading agency and relevant ministries, agencies, and international financial organizations shall be responsible for full, effective, and timely coordination during the processing of requests for non-objection opinions, based on maximizing the protection of Vietnam's legitimate rights and interests, complying with Vietnam's international commitments, and in accordance with the law.

2. Based on their functional scope, tasks, and authority, relevant ministries and agencies shall provide opinions on requests for non-objection opinions at the request of the leading agency and in accordance with this Decision. The content of the opinion must clearly state whether it is an objection or non-objection to private sector activities. If a relevant ministry or agency objects, the reasons must be clearly stated.

3. International financial organizations shall cooperate with the leading agency as prescribed in this Decision and bear responsibility for the accuracy of the information provided to the leading agency and relevant ministries and agencies. International financial organizations must clearly state in the request for non-objection opinions that they understand and accept the principles for issuing Objection Letters and Non-Objection Letters as stipulated in Article 3 of this Decision.

Article 6. Responsibilities of the Leading Agency

1. Lead and coordinate with relevant ministries, agencies, and international financial organizations:

a) Receive, process, evaluate, and provide comments on applications for non-opposition opinions in accordance with this Decision;

b) Summarize and report to the Prime Minister for consideration and provide comments in cases where there are opposing opinions from relevant ministries and agencies as stipulated in Clause 4, Article 4 of this Decision;

c) Regularly summarize and report to the Prime Minister in December each year on the number, scale, types, and fields of private sector activities in Vietnam by international financial organizations;

2. Decide on signing and issuing Letters of opposition, non-opposition, or report to the Prime Minister in accordance with this Decision.

Article 7. Tasks and Authorities of Relevant Ministries and Agencies

1. Coordinate with the Leading Agency to provide comments on applications for non-opposition opinions in accordance with this Decision.

2. Coordinate with the Leading Agency to request international financial organizations to supplement and clarify information regarding applications for opposition or non-opposition opinions (if necessary).

Chapter III
IMPLEMENTATION

Article 8. Implementation clause

1. This Decision takes effect from the date of issuance.

2. The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of provincial People's Committees under central cities, and relevant international financial organizations shall be responsible for implementing this Decision.