The categories are: 1- general socio-economic information; 2- fiscal information; 3- finance-banking information; 4- foreign economic information; 5- political information; 6- other socio-economic information requested by rating agencies that are in accordance with legal regulations.
Of which, general socio-economic information includes long-term strategies; medium-term plans; annual socio-economic development plans and solutions; statistical data and socio-economic forecasts relevant to economic growth, national income, income per capita, savings and investment rates, inflation indexes, population, employment and unemployment, and other relevant information.
Fiscal policy information is about medium-term fiscal policies and finance-budget plans; data on budget revenue, expenditure and budget balance, State-owned enterprises reform; Government debts, foreign debts, and public debts, and other relevant information.
Monetary-banking information is on monetary policy and monetary tools (exchange rate, interest rate, compulsory reserve, open market); information regarding the operations of the State Bank of Viet Nam, credit organizations, and banking system reform; payment balance; foreign reserve; banking credits; non-performing loans, contingency fund, and settlement of non-performing loans.
Regular information supply
The above information categories shall be supplied periodically to the Ministry of Finance on a monthly, quarterly and annually basis.
In case that relevant agencies fail to provide official data on time to the Ministry of Finance, the most updated data shall be supplied instead.
On the monthly basis, the deadline for information provision is on the 15th day of the following month. The quarterly basis fixes the deadline on the 30th day of the first month of the next quarter.
The 28th of February is the deadline for relevant agencies to provide annually information reports to the Ministry of Finance.
National credibility rating process
A part from guiding periodical information supply, the PM’s decision also stipulates coordination in assessing the national credibility.
Under the decision, the rating of national credibility is a regular process to exchange and update information for investors, gradually improve the national prestige on the international arena and better meet the requirements for international economic integration.
The process includes steps: meeting, selecting and signing agreements on provision of national credibility rating services with rating agencies; formulating working plans with rating agencies; composing Reports on general socio-economic situation; holding working sessions with rating agencies; providing necessary information and data as requested by rating agencies; commenting on and suggesting judgments and assessments of rating agencies; publishing national credibility ratings.
The Ministry of Finance is responsible for organizing working sessions with the rating agencies on an annual or unscheduled basis.
The Ministry is also in charge of working with the Office of Government, the Ministry of Planning and Investment, the Ministry of Foreign Affairs, the Ministry of Industry and Trade, the National Financial Supervisory Commission, and the State Bank of Viet Nam to organize meetings to update socio-economic information for investors, international financial institutions, export credit organizations as members of OECD and rating agencies in order to create favorable conditions for mobilizing capital from international markets and raise the national credibility index./.
By Huong Giang
