Decision No. 291/2006/QD-TTg Approving the Non-Cash Payment Scheme for the period 2006-2010 and orientations until 2020 in Vietnam

Pursuant to …;

Approving the Non-Cash Payment Scheme for the period 2006-2010

and orientations until 2020 in Vietnam

_____________________

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;

Pursuant to the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on Credit Organizations No. 20/2004/QH11 dated June 15, 2004;

Considering the proposal of the Governor of the State Bank of Vietnam at the report No. 7604/TTr-NHNN dated September 5, 2006.

DECISION:

Article 1. Approving the Non-Cash Payment Scheme for the period 2006-2010 and orientations until 2020 in Vietnam attached hereto.

Article 2. Entrusting the State Bank of Vietnam, relevant ministries, sectors, and localities to coordinate in organizing the implementation of building and implementing the following component schemes:

1. The Scheme to perfect the legal framework for payment activities in the economy (to be led by the State Bank of Vietnam, in coordination with relevant ministries and sectors from 2006 to 2010);

2. The group of non-cash payment schemes in the public sector, including component schemes:

a) Managing government expenditure in the public sector through non-cash payment means (to be led by the Ministry of Finance, in coordination with the State Bank of Vietnam and the Ministry of Planning and Investment from 2007 to 2010);

b) Payroll through bank accounts (to be led by the State Bank of Vietnam, in coordination with the Ministry of Home Affairs and the Ministry of Finance to build and submit);

c) Social allowances and social benefits payments through bank accounts (to be led by the Ministry of Labor, Invalids and Social Affairs, in coordination with the State Bank of Vietnam from 2007 to 2010).

3. The Scheme for non-cash payments in the business sector (to be led by the State Bank of Vietnam, in coordination with the Ministry of Trade from 2007 to 2010);

4. The group of non-cash payment schemes in the residential sector, including component schemes (to be led by the State Bank of Vietnam, in coordination with related units to build and implement from 2007 to 2010):

a) Developing non-cash payment instruments and services that meet the needs of residents and are consistent with the integration process;

b) Developing networks to accept non-cash payment instruments.

5. The group of schemes to develop payment systems, including component schemes (to be led by the State Bank of Vietnam, in coordination with relevant ministries and sectors to build and implement from 2007 to 2010):

a) Perfecting and developing the inter-bank payment system;

b) Building an automatic clearing house for retail transactions;

c) Building a unified card switching network;

d) Connecting the securities settlement system with the national inter-bank payment system.

6. The Scheme to support non-cash payments, including component schemes:

a) Information dissemination and popularization of knowledge about non-cash payments (to be led by the State Bank of Vietnam, in coordination with mass media organizations to build and implement from 2007 to 2010);

b) Promoting non-cash payments through tax and fee policies in the payment sector; land rental fees and premises rental fees for service providers (to be led by the Ministry of Finance, in coordination with the State Bank of Vietnam to build and implement from 2007 to 2009);

c) Encouraging non-cash payments through value-added tax policies (to be led by the Ministry of Finance, in coordination with the State Bank of Vietnam to build and implement from 2007 to 2009);

d) Establishing a reasonable fee mechanism for payment services (to be led by the State Bank of Vietnam to build and implement from 2007 to 2008).

Article 3. The State Bank of Vietnam shall lead and coordinate with the Ministry of Finance, the Ministry of Planning and Investment, the Ministry of Trade, the Ministry of Labor, Invalids and Social Affairs, relevant ministries, sectors, localities, and service providers to implement the component schemes to achieve the goals, orientations, and solutions for the development of non-cash payments in Vietnam as mentioned in the Scheme; guide, inspect, supervise, and compile reports on the implementation and deployment annually, report to the Prime Minister; organize mid-term reviews at the end of 2008 and final reviews at the end of 2010.

Article 4. This Decision takes effect 15 days after its publication in the Official Gazette.

Article 5. The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of provincial People's Committees directly under the Central Government are responsible for enforcing this Decision./.