THE MINISTRY OF PLANNING AND INVESTMENT
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
Hanoi, March 23, 2020
Prescribing the classification of institutional sectors applicable in Vietnam’s statistics
Pursuant to Statistics Law No. 89/2015/ QH13 of November 23, 2015;
Pursuant to the Government's Decree No. 94/2016 /ND-CP of July 1, 2016, detailing and guiding the implementation of a number of articles of the Statistics Law;
Pursuant to the Government's Decree No. 86/2017/ ND-CP of July 25, 2017, defining the functions, tasks, powers and organizational structure of the Ministry of Planning and Investment;
At the proposal of the Director General of the General Statistics Office of Vietnam;
The Minister of Planning and Investment promulgates the Circular prescribing the classification of institutional sectors applicable in Vietnam’s statistics.
Article 1. Scope of regulation and subjects of application
1. This Circular prescribes the classification of institutional sectors applicable in Vietnam's statistics, including:
a/ The list for classification of institutional sectors applicable in Vietnam statistics, provided in Appendix I to this Circular;
b/ The contents of classification of institutional sectors applicable in Vietnam's statistics, provided in Appendix II to this Circular.
2. This Circular applies to agencies, organizations and individuals providing, producing and using statistical information about institutional sectors applicable in Vietnam’s statistics.
Article 2. Interpretation of terms
1. Institutional unit applicable in statistics (below referred to as institutional unit) means an economic entity that is capable, in its own right, of owning goods or assets, incurring liabilities and engaging in economic activities and in economic transactions with other economic entities. An institutional unit has the following attributes: (i) It is entitled to own goods or assets in its own right and, therefore, able to exchange the ownership over such goods or assets in transactions with other institutional units; (ii) It is entitled to take economic decisions and engage in economic activities for which it takes responsibility before law; (iii) It is able to incur liabilities, to take on obligations or commitments and to enter into economic contracts; and (iv) It has a complete set of accounts, or may compile accounts if it is so required.
2. Institutional sector applicable in statistics (below referred to institutional sector) means a group of institutional units with the same functions, purposes of production and business, structural characteristics, economic roles and mode of operation.
3. Six institutional sectors of Vietnam:
- Non-financial institutions sector;
- Financial institutions sector;
- State institutions sector;
- Households sector;
- Non-profit institutions serving households sector;
- Non-resident institutions sector.
Article 3. Principles of classification of Vietnam's institutional sectors
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