DECISION

PROMULGATING THE GOVERNMENT'S PROGRAM OF ACTION FOR IMPLEMENTATION OF THE NATIONAL STRATEGY ON FOREIGN LOANS AND PAYMENT OF FOREIGN DEBTS UP TO 2010

THE PRIME MINISTER

Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the Government's Decree No. 134/2005/ND-CP of November 1, 2005, promulgating the Regulation on management of foreign loans and payment of foreign debts;
Pursuant to the Prime Minister's Decision No. 135/2006/QD-TTg of June 8, 2005, approving orientations for management of foreign debts up to 2010;
At the proposal of the Minister of Planning and Investment in Report No. 2499 BKH/TCTT of April 12, 2006,

DECIDES:

Article 1.- To promulgate together with this Decision the Government's program of action for implementation of the national strategy on foreign loans and payment of foreign debts up to 2010.

Article 2.- This Decision takes effect 15 days after its publication in "CONG BAO."

Article 3.- The Ministers of Planning and Investment; Finance; Justice; and Home Affairs, the Governor of the Vietnam State Bank, the general director of the General Statistics Office, and heads of concerned agencies shall have to implement this Decision.

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PRIME MINISTER




Phan Van Khai

PROGRAM

OF ACTION FOR IMPLEMENTATION OF THE NATIONAL STRATEGY ON FOREIGN LOANS AND PAYMENT OF FOREIGN DEBTS
(Promulgated together with the Prime Minister's Decision No. 150/2006/QD-TTg of June 23, 2006)

No.

Tasks

Managing agencies

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Time of completion

1. Formulation of policies on management of foreign loans and payment of foreign debts

1.1

Finalizing models, processes and coordinating mechanisms for the formulation of the national strategy on foreign loans and payment of foreign debts up to 2010 (the strategy) to suit the formulation of five-year and ten-year socio-economic development strategies; devising methods and processes of analyzing sustainable debts according to international practice, with Vietnam's specific conditions taken into consideration.

The Ministry of Planning and Investment (MPI)

Fourth quarter of 2006

1.2

Updating and integrating the strategy into the formulation of balances and the administration of macroeconomic policies.

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Regularly

1.3

Formulating the Government's medium-term program on foreign loans and payment of foreign debts under the provisions of the Government's Decree No. 135/2005/ND-CP in parallel with the formulation of the medium-term fiscal program

The Ministry of Finance (MoF)

MPI

In 2006

1.4

Formulating and submitting to the Prime Minister for approval a program on management of enterprise debts and of the system for early-warning of risks related to enterprises' loans and debt payment; improving the process of registration of enterprises' foreign loans; coordinating with the General Statistics Office (GSO) in making statistics of small loans.

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MoF, MPI, GSO

Third quarter of 2006

1.5

Working out a strategic plan on monitoring and evaluation of ODA programs and projects in the 2006-2010 period; developing methodologies and processes of assessing impacts of construction investment projects after their completion.

MPI

Fourth quarter of 2006

1.6

Formulating and promulgating a Regulation on organization and operation of project management units in the direction of making project management work professional and stable.

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Second quarter of 2006

1.7

Developing methods of increasing Vietnam's credit rating, establishing relations with foreign agencies for evaluating national credit rating

MoF

Regularly

1.8

Drafting and reporting to the Prime Minister a program on development of the system of agencies for evaluating domestic enterprises' credit rating.

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Fourth quarter of 2006

2. Perfection of the legal framework and institutions on management of foreign debts

2.1

Elaborating and submitting to the Prime Minister for promulgation documents guiding the implementation of Decree No. 134/2005/ND-CP, including:

- A Regulation on re-lending the Government's foreign loan and aid capital;

- A Regulation on the issuance and management of Government guaranty for enterprises' and credit institutions' foreign loans;

- A Regulation on the system of criteria for supervising national debts;

-A Regulation on the exchange of information on foreign debts.

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The Ministry of Justice (MoJ), MPI, SBV

Second quarter of 2006

2.2

Drafting legal documents on the issuance of the Vietnamese Government's and enterprises' international bonds

MoF

MPI, SBV

In 2006

2.3

Drafting an ordinance on management of the public sector's direct debts, including borrowing of domestic and foreign loans and payment of domestic and foreign debts by the Government, borrowing of loans and payment of debts by provincial/municipal administrations, and borrowing of loans and payment of debts by public-utility enterprises.

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MPI, SBV

2006-2008

2.4

Proposing and submitting to the Prime Minister for decision a roadmap for reorganization of the management of foreign debts by the Government, first of all, a coordinating mechanism for policy making and foreign debt management.

MoF

MoJ, the Ministry of Home Affairs (MoHA), MPI, SBV

2006-2008

3. Collection, synthesis, reporting, sharing and disclosure of information on foreign debts, and training of staff managing foreign debts

3.1

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MoF

Third quarter of 2006

3.2

Supporting the installation of DMFAS software at the MPI.

MoF

MPI

In 2006

3.3

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MoF

MPI, SBV

Regularly