Expected amendments and supplements to the 2023 Price Law to suit the 2-level government model

According to the Draft Government Submission, the amendment is aimed at institutionalizing the Party's guidelines and policies and the State's policies, ensuring the normal, continuous and smooth operation of public agencies, avoiding overlap, duplication or omission of functions and tasks, while not affecting the social life, people and businesses.

One of the important amendments is the authority to stabilize prices. The 2023 Price Law clearly defines the responsibilities between the Government, ministries, branches and provincial People's Committees, in which when there is an emergency, incident or unusual fluctuation, the departments managing the sector or field will advise the Department of Finance to synthesize and submit to the provincial People's Committee for decision, then the district People's Committee will implement. However, to be consistent with the 2-level local government model, the Ministry of Finance proposes to transfer the responsibility for implementation from the district People's Committee to the commune People's Committee.

The draft also amends and supplements the List of goods and services whose prices are set by the State. Notably, the authority to set prices for natural gas transportation services by pipeline and services of storing, re-melting, transporting and distributing liquefied natural gas for electricity production is assigned to the People's Committees at the provincial level.

At the same time, the Ministry of Finance proposed to add infrastructure services in industrial parks and economic zones invested from the state budget to the list of State-priced services, with the authority belonging to the provincial People's Committee.

In addition, the scope of application for public products and services is clarified as services using budget from regular expenditure sources, in order to be consistent with the law on bidding, ordering and assigning tasks to provide public services. Regulations related to railway infrastructure management and maintenance services are also adjusted to be compatible with the new Railway Law, while the names of competent ministries and branches are also updated to be consistent with the new organizational structure of the Government.

Regarding price inspection and examination, based on Conclusion No. 134-KL/TW dated March 28, 2025 of the Party Central Committee on streamlining the inspection agency system to be streamlined, effective and efficient, and based on the Inspection Law 2025, the Ministry of Finance proposes to amend the specialized inspection function on specialized inspection costs and handling of violations of the law on prices and price appraisal.

Notably, the Draft also provides solutions to facilitate valuation enterprises by reducing and simplifying business conditions. The Ministry of Finance proposes to remove the provision of “having full civil act capacity” and the requirement that “valuation enterprises must be established and registered to conduct valuation services in accordance with the Law on Enterprises” in the 2023 Law on Prices. At the same time, regulations on capital contribution structure in valuation enterprises are also clarified, accordingly, for LLCs with two or more members or joint stock companies, the total capital contribution of members or shareholders who are price appraisers registered to practice at the enterprise must account for more than 50% of the charter capital.

Source: https://htv.com.vn/du-kien-sua-doi-bo-sung-luat-gia-2023-de-phu-hop-mo-hinh-chinh-quyen-2-cap-22225082012555423.htm