In accordance with the Decree No. 16/2014/ND-CP dated March 03, 2014 of the Government On management of the balance of international payments of Vietnam, the Ministries of Planning and Investment; Finance; Industry and Trade; Labor, War Invalids and Social Affairs and other individuals and organizations that provide information to serve the formulation, analysis and forecasting of the balance of international payments of Vietnam shall be responsible for making general statistical report on transactions between residents and non-residents over a given period (Balance of international payments of Vietnam.
Types of information provided by ministries include socio-economic development undertakings, policies, plans and strategies of Vietnam in different periods related to import and export of goods, services, labor, attraction of foreign investment, offshore investment; short-, medium- and long-term foreign loan borrowing and repayment, and the implementation of such undertakings, policies, plans and strategies; information required in report forms; other information at the request of the State Bank to serve the formulation, analysis and forecasting of the balance of payments.
Besides, information provided by other individuals and organizations at the request of the State Bank and as prescribed in regular or irregular statistical surveys to serve the formulation, analysis and forecasting of the balance of payments.
In September every year, the State Bank shall assume the prime responsibility for, and coordinate with the ministries specified in Clause 2, Article 2 of this Decree in, making forecasts of main items in the balance of payments of the following year, including forecasts for the whole year and forecasts of the quarters to serve the administration of the monetary policy and other macro-economic policies.
And in every quarter, the State Bank shall coordinate with the ministries in considering and adjusting balance of payments forecasts to suit the trend and developments of the national economy and the world economy.
This Decree takes effect on April 21, 2014, and replaces the Government’s Decree No. 164/1999/ND-CP of November 16, 1999.
