DECISION

APPROVING SCHEME ON REFORMING THE COORDINATING MECHANISM IN MANAGING AND CONTROLLING THE MACRO ECONOMY

THE PRIME MINISTER

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

At the proposal of the Minister of Planning and Investment,

DECIDES:

Article 1. To approve the Scheme on reforming the coordinating mechanism in managing and controlling the macro economy with the principal contents as follows:

I. VIEWPOINTS AND OBJECTIVES

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a) To renew the coordinating thought in managing and controlling the macro economy in direction of creating and supporting development, for national mutual benefits; to follow up the thoughts, guidelines and polices of the Party and State on development of the socialist-oriented market economy in association with course of restructuring the economy to contribute in ensuring stability of the macro economy, towards sustainable development.

b) To ensure a harmonious, effective, unified, regular, continuous and systematic coordination among Ministries and relevant agencies during entire course of elaboration, promulgation, implementation and assessment of mechanism, policies, solutions, measures to manage and control the macro economy, especially policies of finance, monetary, credit, investment, trade, prices and other relevant policies.

c) To clearly define tasks and powers of Ministries and relevant agencies in coordination for management and control of the macro economy.

d) To mobilize effectively the participation of domestic and foreign sciences, managers, experts during macro-economy management and control of Government, Ministries and relevant agencies.

2. Objectives

a) To ensure management and control of macro economy to be proactive, flexible, responding timely and effectively with economic and social changes in countries and on the world.

b) Gradually setting up a stable and convenient macro-economy environment able to forecast in medium and long term so as to contribute in increasing attraction of investment, promote the production and business development and create foundation for stable growth.

c) To contribute in strengthening effect and efficiency of state management; to affirm and increase the micro-management role of State in the economy; to promote and increase efficiency in reforming the socialist-oriented market economy institutions.

II. CONTENT AND SOLUTIONS OF COORDINATION

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a) To coordinate in elaboration, promulgation, implementation, assessment and adjustment of macro-economy policies, especially among policies of:  Finance, monetary, credit, investment, trade, prices; to ensure the big balance of economy and a stable and sustainable macro-economy environment.

b) To coordinate in ensuring synchronous market elements and development of markets of all types in the economy; in setting up and developing markets of: Capital, securities, real estate, employment, science-technology, ...; in assurance of advances, social justice and environmental protection and in matters on external economy.

c) To coordinate in entire cycle of elaboration and control of macro-economy policies, including:  Defining the policy objectives; impact assessment and giving out solutions, tools to perform the policy objectives; carrying out, examining, supervising implementation of policies and assessing, adjusting policies. 

d) To coordinate in elaborating plans, solutions applicable to the domestic and international economic-social changes influencing the macro-economy environment, especially irregular changes involving economy, politics and society of world and region.

dd) To coordinate in building an information system, including: Creating a legal corridor for building a unified database for forecasting and strengthening, increasing quality of forecast; defining clearly contents of essential macro forecasts of Ministries, relevant agencies in association with requirement on information and forecast provision serving the making macro-economy policies and directing and control of Government, Ministries, agencies and localities.

2. Essential solutions to perform coordinative reform

a) To renew thought and raise awareness on coordination in macro-economy management and control in directions:

- To pay attention to set up a stable macro environment, to facilitate for production, business and development of enterprises.

- To have a long-term vision, to put the national benefit on the top, to ensure the rational mobilization and allocation of force sources for economic-social development.

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- To overcome thoughts and formality status in coordination for management and control of the macro economy; to clearly define duties and powers of Ministries, agencies, and relevant units, and responsibilities of heads in coordination work.

b) To review, revise and complete legal documents defining on coordination in macro-economy management and control among Ministries, agencies and localities in directions:

- To overcome situation of dividing management fields into small parts for many Ministries or relevant agencies.  Each management field is assigned to one Ministry or agency to take main responsibility; to strengthen responsibilities of heads of agencies, units, especially in directing implementation of coordination with relevant Ministries and agencies.

- To strengthen examination, supervision over implementation of the coordination work in managing and controlling the macro economy among Ministries and relevant agencies.

- To ensure observance of relevant legal regulations and conformity with international commitments to which Vietnam has acceded.

c) To strengthen coordination during elaboration, promulgation, implementation, assessment of macro-economy mechanism and policies in directions:

- To clearly define viewpoints and objectives of policies, instruments, solutions and roadmaps for implementation;

- To strengthen coordination in directing implementation, assessment and adjustment of policies among Ministries and relevant agencies;

- To increase role of scientists, organizations, individuals, business community and people during elaborating and criticizing policies in accordance with regulations.

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dd) To build the information database which is updated fully, exactly, and ensure to satisfy the requirements on macro-economy management and control of Government, Ministries and relevant agencies ; to strengthen in sharing and exchanging information among Ministries, agencies and localities; to enhance  capability of making statistics on, analyzing, forecasting macro economy.

e) To consolidate and enhance capability for units doing work of forecast at Ministries and agencies assigned tasks of macro-economy management and control. To strengthen the training and retraining knowledge, to ensure satisfaction of the working requirements for cadres directly doing task of macro-economy management and control at Ministries and relevant agencies.

g) Ministries, agencies assigned tasks of macro-economy management and control shall allocate funding in their state budget estimates and prioritize for science research fund assigned for each Ministry, agency in order to meet requirements of implementation of tasks on strengthening coordination in macro-economy management and control.

III. DUTIES, POWERS OF MINISTRIES, AGENCIES AND LOCALITIES

1. The Ministry of Planning and Investment, the consulting and summing agency for Government, the Prime Minister in macro-economy management and control, shall assume the prime responsibility for, and coordinate with Ministries and relevant agencies in:

a) To formulate, promulgate the coordinative plans in macro-economy management and control with a suitable roadmap, in which clearly define scope, field, content and tasks need to be carried out of each Ministry, relevant agency.

b) To guide, monitor, examine, urge Ministries and relevant agencies in performing the coordinate tasks in macro-economy management and control and the information and report regime on coordination in macro-economy management and control.

c) To sum up, assess situation of implementing the coordinative mechanism in macro-economy management and control of Ministries and relevant agencies, and proposals (if any), quarterly report them to the Prime Minister.

2. The Ministry of Planning and Investment shall assume the prime responsibility for, and coordinate with the Ministry of Finance, the Ministry of Industry and Trade and the State bank of Vietnam in formulating, promulgating and organizing implementation in 2013 for the Regulation on coordination in management and control in fields: Finance, monetary, credit, investment, trade, prices; in which clearly state scope, content, method of coordination, duties and powers of Ministries, agencies taking main responsibility, and  coordinative agencies and organizations related to implementation.

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a) Be entitled to request other Ministries or agencies for supplying figures, documents, consulting about programs, schemes, mechanisms, policies, and coordinating in macro-economy management and control, within fields of assigned missions.

b) Take responsibility for supplying figures, documents, discussing with Ministries and relevant agencies about programs, schemes, mechanisms, policies and coordinating closely in macro-economy management and control.

c) Quarterly, report situation of coordination and proposals (if any), send them to the Ministry of Planning and Investment for summing up and reporting to the Prime Minister.

4. Ministries, heads of relevant agencies shall strengthen in directing agencies and their units to proactively coordinate with Ministries, agencies and localities to push up the coordination in macro-economy management and control, ensure the permanency, continuity and efficiency; concurrently take direct responsibility before Government, the Prime Minister on situation and result of carrying out the coordination tasks in macro-economy management and control relating to their assigned scope and fields.

5. People’s Committees of provinces, central affiliated cities shall proactively implement effectively mechanisms, policies, solutions on macro-economy management and control, especially finance, monetary, credit, investment, trade and prices in their localities; strengthen coordination with Ministries and relevant agencies in macro-economy management and control, timely report difficulties, problems arising at their localities and propose the handling measures with Ministries, relevant agencies to consider and handle under competence or report to competent authorities for consideration and decision.

Article 2. This Decision takes effect on the date of its signing.

Article 3. Ministers, Heads of ministerial-level agencies, Heads of Governmental agencies, chairpersons of People’s Committees of provinces and central affiliated cities, and heads of relevant agencies and units shall implement this Decision.

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