Decision No. 98/2007/QĐ-TTg approves the Project to Enhance the Convertibility of the Vietnamese Currency and Address Dollarization in the Economy. The State Bank of Vietnam and relevant ministries and agencies shall be responsible for implementing the Project according to the planned schedule.
Key points
- The State Bank of Vietnam shall take the lead and coordinate with the Ministry of Finance, the Ministry of Trade, the Ministry of Planning and Investment, relevant ministries and agencies, People's Committees of provinces and centrally governed cities to implement the Project.
- Implementing the Project to enhance the convertibility of the Vietnamese currency and address dollarization in the economy.
- Guide, inspect, supervise, and compile periodic reports on implementation to the Prime Minister; organize mid-term reviews at the end of 2008 and final evaluations in 2010.
- This Decision takes effect fifteen days after its publication in the Official Gazette.
🌐 Social impact of this document
- Positive impact: Helps enhance the convertibility of the Vietnamese currency, reduce dollarization in the economy, strengthen monetary stability, and promote economic development.
- Negative impact: May cause difficulties for some businesses operating in foreign currencies, requiring adaptation time.
❓ Frequently asked questions
What responsibilities does the State Bank of Vietnam have in the Project?
The State Bank of Vietnam shall take the lead, coordinate with relevant ministries and agencies to implement the Project and perform tasks such as guiding, inspecting, supervising, and compiling periodic reports on implementation.
What is the duration of the Project's implementation?
The Project takes effect from the date of its publication in the Official Gazette and will be evaluated at the end of 2008, concluding in 2010.
How do relevant ministries and agencies implement the Project?
Relevant ministries and agencies shall cooperate with the State Bank of Vietnam to implement the Project and carry out tasks according to the planned schedule.
Who is responsible if issues arise?
The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for enforcing this Decision.
Full text
DECISION OF THE GOVERNMENT PRIME MINISTER
Approving the Project to Enhance the Convertibility of the Vietnamese Currency
Male,
Addressing Dollarization in the Economy
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Item III, Part B.6 of Resolution No. 01/2005/NQ-CP dated January 14, 2005 of the Government on key measures to guide the implementation of the socio-economic plan and state budget for 2005;
Considering the proposal of the Governor of the State Bank of Vietnam at Circular No. 50/TTr-NHNN dated May 14, 2007,
DECISION:
Article 1. Approves the Project to Enhance the Convertibility of the Vietnamese Currency, Addressing Dollarization in the Economy attached hereto.
Article 2. The State Bank of Vietnam shall take the lead and coordinate with the Ministry of Finance, the Ministry of Trade, the Ministry of Planning and Investment, relevant ministries and sectors, People's Committees of provinces and centrally governed cities to implement the Project to enhance the convertibility of the Vietnamese currency, address dollarization in the economy; provide guidance, inspect, supervise, and compile annual reports on the implementation situation to be submitted to the Prime Minister; organize mid-term reviews at the end of 2008 and final evaluations in 2010.
Article 3. This Decision takes effect fifteen days from the date of publication in the Official Gazette.
Article 4. The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decision./.
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