Laws of Vietnam

DECISION No. 764/QD-TTg OF AUGUST 24, 1998 ON THE SETTING UP OF EXPORT REWARD FUND

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;

Pursuant to the Government's Resolutions No.02/1998/NQ-CP of January 26, 1998 and No.08/1998/NQ-CP of July 16, 1998;

To encourage production and business enterprises to achieve high efficiency in export activities;

At the proposal of the Minister of Trade,

DECIDES:

Article 1.- To set up the export reward fund to reward production and business enterprises of all economic sectors, including foreign-invested companies and enterprises, which achieve high efficiency in export activities and meet one of the following criteria:

- Producing and exporting new goods items that have for the first time penetrated into foreign markets;

- Producing and exporting high-quality products that have been awarded product quality certificates by competent international organizations;

- Finding new outlets for Vietnamese export goods;

- Expanding markets and increasing export value of goods items that should be encouraged for export. Producing export goods items with the consumption of a large quantity of raw materials and materials available in the country or the employment of large numbers of domestic laborers;

- Conducting non-quota export with the annual turnover of USD 50 million or more and high efficiency according to annual ranking.

Article 2.- The export reward fund shall be allocated from the State budget's annual expenditure estimates and equal to 5% of the total collected amount of various fees for assignment of garment products quota, granting of permits for setting up representative offices or opening branches of foreign companies in Vietnam and granting of certificates of goods origin.

The export reward fund shall be deposited on a separate account at the State Treasury; the Minister of Trade shall personally manage the fund.

Article 3.- To assign the Ministry of Trade to assume the prime responsibility and coordinate with the Ministry of Finance in promulgating the Regulation on management and use of the fund and the regime of rewards, and the Minister of Trade shall personally organize the consideration of annual rewards, which shall be deducted from the export reward fund according to such Regulation.

Article 4.- This Decision takes effect 15 days after its promulgation. The Minister of Trade and the Minister of Finance shall have to guide the implementation of this Decision. The ministers, the heads of the ministerial-level agencies, the heads of the agencies attached to the Government and the presidents of the People's Committees of the provinces and cities directly under the Central Government shall have to implement this Decision

For the Prime Minister

Deputy Prime Minister

NGUYEN MANH CAM