Decision No. 666/QD-BTC dated February 28, 2025 on defining functions, tasks, powers and organizational structure of Department of Debt Management and Foreign Economic Relations

DECISION

DEFINING FUNCTIONS, TASKS, POWERS AND ORGANIZATIONAL STRUCTURE OF DEPARTMENT OF DEBT MANAGEMENT AND FOREIGN ECONOMIC RELATIONS

THE MINISTER OF FINANCE OF VIETNAM

Pursuant to the Government’s Decree No. 123/2016/ND-CP dated September 01, 2016 defining functions, tasks, powers and organizational structure of Ministries and Ministerial agencies (as amended in the Government’s Decree No. 101/2020/ND-CP dated August 28, 2020 and the Government’s Decree No. 83/2024/ND-CP dated July 10, 2024);

Pursuant to the Government’s Decree No. 29/2025/ND-CP dated February 24, 2025 defining functions, tasks, powers and organizational structure of the Ministry of Finance of Vietnam;

At the request of the Directors of the Department of Debt Management and Foreign Economic Relations, and the Department of Personnel and Organization;

HEREIN DECIDES:

Article 1. Position and functions

The Department of Debt Management and Foreign Economic Relations is an unit affiliated to the Ministry of Finance in charge of advising and assisting the Minister of Finance of Vietnam in consistently performing state management of public debts, foreign aid given to Vietnam and loans and aid given by Vietnam to foreign countries; carrying out international integration and cooperation in the economic - financial field as assigned or delegated by the Minister of Finance of Vietnam.

The Department of Debt Management and Foreign Economic Relations has the juridical person status and its own seal, and is allowed to open accounts at the State Treasury and banks in accordance with regulations of law.

International business name in English language: Department of Debt Management and Foreign Economic Relations (abbreviated name: DMFER).

Article 2. Tasks and powers

1. Submit legislative documents, mechanisms and policies on the following matters or contents to the Minister of Finance of Vietnam for promulgation or further submission to competent authorities for promulgation, including:

a) Management of borrowing and repayment of public debts and national foreign debts falling within the scope of management of the Ministry of Finance;

b) Management and use of ODA loans, concessional loans and trade loans granted by foreign lenders to the Government of Vietnam; foreign non-refundable grants given to Vietnam, and loans and aid given by Vietnam to foreign countries;

c) Issuance and management of Government guarantee in respect of loans or corporate bond issues of enterprises and policy banks in accordance with regulations of law;

d) Public debt-associated risk management;

dd) Other matters or contents falling within the scope of DMFER’s management as assigned by the Minister of Finance of Vietnam.

2. Regarding management of borrowing and repayment of public debts and national foreign debts

a) Formulation and organization of implementation of strategies and plans on borrowing and repayment of public debts and national foreign debts

- Play the leading role and cooperate with relevant units in formulating and submitting public debt management instruments, including 05-year borrowing and public debt repayment plans, public debt safety ratios; 03-year public debt management programs; annual borrowing and public debt repayment plans as prescribed in the Law on public debt management, the Law on state budget and other relevant laws, to the Minister of Finance of Vietnam for promulgation or further submission to competent authorities for promulgations, and organizing implementation thereof after approval;

- Play the leading role and cooperate with relevant units in determining the structure, sources and forms of loans raised by the Government to offset budget deficits and repaying principal outstanding debts of the state budget as the basis for formulating and submitting 05-year borrowing and public debt repayment plans, 03-year public debt management programs and annual borrowing and public debt repayment plans to competent authorities for approval, and implementing plans for raising capital for key and important projects and works using borrowed funds derived from public debts;

- Supervise performance of public debt safety ratios and annual loan limits decided by competent authorities. Carry out regular and periodical analysis and assessment of public debt safety and propose measures for ensuring public debt safety in accordance with provisions of the Law on public debt management;

- Play the leading role and cooperate with relevant units in proposing measures for managing the list of public debts, formulating and organizing the implementation of the Government’s foreign debt restructuring scheme; cooperate with relevant units in formulating and organizing the implementation of the Government’s domestic debt restructuring scheme;

- Advise the Minister of Finance of Vietnam about consolidating national foreign debts, and cooperate with relevant units in supervising national foreign debt indicators;

- Play the leading role and cooperate with relevant authorities in formulating and submitting strategies, policies and orientations for attraction, use and coordination of ODA loans and concessional loans granted by foreign sponsors to Vietnam to the Minister of Finance of Vietnam for promulgation or further submission to competent authorities for promulgation.

b) Management of Government’s foreign loans

- Act as the focal point of the National Steering Committee for ODA and foreign concessional loans;

- Play the leading role and cooperate with relevant authorities and units in consolidating and submitting proposals for programs and projects, investment policies, investment decisions, and adjustments to such proposals, investment policies and decisions on investment in programs and projects to be funded by ODA loans and/or foreign concessional loans of the Government to the Minister of Finance for submission to competent authorities for their consideration and decision;

- Play the leading role in determining grant elements, assessing impacts of new loans on public debt safety ratios, and proposing domestic financial mechanisms to the Minister of Finance for reporting to the Prime Minister;

- Play the leading role in submitting relevant reports to the Ministry for requesting competent authorities to organize negotiation, conclusion and modification of framework international conventions, framework agreements, international loan conventions or loan agreements regarding ODA loans, concessional loans or ODA grants associated with the loans in the name of the State or Government of Vietnam for financing programs/projects; agreements on capital mobilization, Government’s debt instruments issued on the international capital market, agreements on settlement or restructuring of the Government’s foreign debts in accordance with regulations of law;

- Formulate and submit Schemes for issuance of government bonds on the international capital market to the Ministry of Finance for submission to competent authorities; organize raising of capital by means of issuance of government bonds on the international capital market under the Schemes approved by competent authorities and organize raising of foreign loans under trade agreements of the Government; give opinions about the issuance of bonds on the international market and other forms of loans raised by enterprises and economic organizations;

- Submit regulations and guidelines for financial management of programs and projects funded by ODA loans, concessional loans and foreign trade loans of the Government to the Minister of Finance of Vietnam or other competent authorities for promulgation; instruct, monitor and supervise the implementation of such regulations and guidelines after approval; play the leading role or cooperate with relevant units affiliated to the Ministry of Finance in dealing with financial issues that arise during the implementation of programs and projects funded by ODA loans, concessional loans and foreign trade loans of the Government;

- Play the leading role and cooperate with relevant authorities in determining and submitting 05-year and annual limits on loans to be on-lent to the Ministry of Finance of Vietnam for submission to competent authorities as prescribed; organize the application of such limits approved by the Government; supervise and ensure that the Government’s foreign debts and Government-guaranteed foreign loans fall within the approved limits;

- Play the leading role in submitting relevant reports to the Ministry of Finance for requesting competent authorities to make decisions on financial mechanisms applicable to such programs and projects funded by foreign loans of the Government; conditions for on-lending of the Government’s foreign loans to programs and projects which are eligible to access amounts on-lent of the Government’s foreign loans;

- Determine the agency authorized to on-lend without bearing any credit risks to public service units, enterprises implementing investment projects included in the State’s investment plans in accordance with regulations of law; organize domestic on-lending activities and monitor, expedite the recovery of amounts on-lent;

- Play the leading role in carry out appraisal or consolidating and submitting on-lending appraisal results to the Minister of Finance for submission to the Prime Minister for seeking his consideration and decision;

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance in formulating, modifying and adding medium-term and annual financial plans/funding plans/public investment plans/state budget estimates for programs and projects funded by ODA loans and foreign concessional loans; engage with units affiliated to the Ministry of Finance in estimation of annual state budget’s funding (regarding reciprocal capital) for programs and projects funded by ODA loans and foreign concessional loans;

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance and those which are not affiliated to this Ministry in submitting reports to competent authorities on the mechanisms for dealing with on-lending risks associated with on-lent amounts of the Government’s foreign loans for which the end borrowers are facing financial difficulties in repaying debts which are proposed by the end borrowers, supervisory authorities of the end borrowers (if any) and agencies authorized to on-lend.

c) Management of Government’s domestic borrowing and debt repayment

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance in consolidating and including the Government’s total borrowed funds in 5-year borrowing and public debt repayment plans, 03-year public debt management programs and annual borrowing and public debt repayment plans;

- Cooperate with relevant units affiliated to the Ministry of Finance in formulating and implementing the Government’s domestic borrowing plans.

d) Management of Government guarantees

- Play the leading role and cooperate with relevant units in determining and submitting annual limits on Government guarantees to competent authorities for decision;

- Play the leading role in appraising proposals and applications for issuance of Government guarantee for loans and bond issues of enterprises; give opinions about enterprises’ loan agreements and bond issuance plans; make recommendations about issuance and organization of management of the Government guarantee for loans and bond issues of enterprises in accordance with regulations of law on issuance and management of Government guarantee;

Cooperate with the Department of Financial Institutions in giving opinions about the schemes for issuance of Government-guaranteed bonds to policy banks;

- Carry out issuance of Government guarantees according to the Prime Minister’s decisions; supervise the compliance with the annual Government guarantee limits, including limits on Government-guaranteed bonds issued by Vietnam Development Bank and Vietnam Bank for Social Policies in accordance with regulations of law on issuance and management of Government guarantee;

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance and those which are not affiliated to this Ministry in proposing financial mechanisms for dealing with Government-guaranteed loans and/or bond issues for which obligors are facing financial difficulties in repaying debts in accordance with regulations of law.

dd) Management of provincial-government debts

- Request the Ministry of Finance to make written notice of ratios of ODA loans and foreign concessional loans of the Government on-lent to governments of provinces and central-affiliated cities;

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance in making and adjusting estimates, carry out on-lending, inspecting, supervising and collecting debts in respect of the Government’s foreign loans on-lent to provincial governments;

- Cooperate with relevant units affiliated to the Ministry of Finance in supervising provincial governments’ borrowing and debt repayment; cooperate in giving opinions about conditions and terms of bonds specified in schemes for issuance of municipal bonds.

e) Disbursement tasks

- Give opinions about inspection of allocation and approval of cost estimates on the Treasury And Budget Management Information System (TABMIS) in respect of foreign loans of Ministries and central-government authorities, and consolidate and send annual budget statements in respect of foreign loans disbursed to Ministries and central-government authorities to the Department of Investment that takes charge of submitting reports thereon to the Ministry of Finance;

- Organize, supervise and make reports on assessment of disbursement of Government’s foreign loans as prescribed.

g) Debt repayment tasks

- Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance in developing Government’s debt repayment plans;

- Organize and instruct the Government’s foreign debt repayment; submit reports on fulfillment of the guarantor’s obligations arising under written guarantees to the Ministry of Finance for submission to competent authorities as prescribed.

h) Accounting, auditing, statistics, reporting and public disclosure of information on public debts

- Organize accounting for the Government’s foreign debts; carry out statistics and consolidate data on borrowing and public debt repayment; manage public debt database; make statistical reporting on and monitor debts arising from on-lending and Government guarantee; organize collection, sharing and disclosure of public debt-related information in accordance with regulations of law;

- Make and submit periodical reports on borrowing, management and repayment of public debts, and national foreign debts to the Minister of Finance of Vietnam for submission to competent authorities;

- Cooperate with the State Audit Office of Vietnam in conducting audits of borrowing and public debt repayment;

- Act as a focal point in charge of providing and exchanging public debt-related information with international financial organizations, representatives of the Governments of foreign countries and other relevant domestic and foreign organizations.

i) Management of Debt Repayment Fund

Organize management of the Debt Repayment Fund in accordance with regulations of law.

3. Regarding state management of international aid to Vietnam

a) Play the leading role in advising and assisting the Minister of Finance in submitting reports on orientations, mobilization and coordination of foreign non-refundable grants to Vietnam to competent authorities;

b) Play the leading role in advising and submitting to competent authorities for promulgation of legislative documents on management and use of foreign financial aid given to Vietnam;

c) Play the leading role in assisting the Minister of Finance in performing state management of finances and managing raising and use of foreign non-refundable grants given to Vietnam in accordance with regulations of law; play the leading role in making plans/estimates of central-government budget expenditures and revenues in respect of foreign aid on an annual basis and over periods of time; play the leading role in appraising final statements of central-government budget expenses in respect of foreign non-refundable grants given to the State or Government of Vietnam;

d) Perform state management and state financial management of foreign financial aid in accordance with regulations of law.

4. Regarding management of financial aid and loans given by the State or Government of Vietnam to foreign countries

a) Play the leading role in providing advice on and formulating strategies, policies and legislative documents on aid and loans granted by the Government of Vietnam to foreign countries for submitting reports thereon to the Minister of Finance for submission to competent authorities;

b) Play the leading role in providing advice on and preparing estimates of the central-government budget’s funding used for giving aid to foreign countries on an annual basis and over periods of time; provide advice on annual plans for allocation or assignment of estimates of the Government’s funding used for giving aid to foreign countries to Ministries and central-government authorities; appraise final statements of central-government budget’s funding used for giving aid in accordance with regulations of law; consolidate data on state budget's funding for giving aid to foreign countries, including those funding amounts used for giving aid to foreign countries derived from central-government budget and local-government budgets;

c) Perform state financial management of aid given to foreign countries in accordance with regulations of law;

d) Play the leading role in and advising on arrangement of the Government's funding sources for giving loans to the Governments of foreign countries, and organize implementation of directives on this matter from competent authorities.

5. Regarding international integration in economic - financial field

a) Play the leading role and cooperate with relevant agencies and units affiliated to the Ministry of Finance, and those which are not affiliated to this Ministry in formulating or consolidating plans for negotiation on integration, and engage in negotiation on international conventions on import and export duties, insurance services, securities, investment, and investment contents included in free trade agreements as assigned by the Minister of Finance;

b) Play the leading role and cooperate with relevant units in formulating and submitting legislative documents on implementation of commitments in international conventions falling within the scope of DMFER’s management to competent authorities for promulgation;

c) Play the leading role and cooperate with relevant units in organizing assessment of impacts of integration, preparing consolidating reports on international integration within the scope of management of the Ministry of Finance;

d) Play the leading role and cooperate with relevant units in making clarifications to policies within the framework of commitments of the World Trade Organization (WTO) and within the framework of Vietnam’s negotiations for market economy status with partners; cooperate in managing members of the Ministry of Vietnam at Vietnam’s mission to WTO and other International Organizations as assigned by the Minister of Vietnam; play the leading role and cooperate with relevant units in implementing trade remedies imposed by partner countries on Vietnam within the scope of DMFER’s management;

dd) Play the leading role and cooperate with relevant units in joining Committees, Joint Committees, and other missions in charge of implementing trade agreements or free trade agreements.

6. Regarding international cooperation in economic - financial field

a) Regarding bilateral, regional and multilateral cooperation

- Advise the Minister of Finance of Vietnam on playing the role of a representative of the Government or State of Vietnam in international organizations as assigned by the Government or the Prime Minister; act as a focal point in charge of working with international organizations and partners giving loans and aid in assessing the macroeconomic situation and the implementation of the list of loans and foreign aid of the Government.

- Play the leading role in advising and assisting the Minister of Finance of Vietnam or represent the Ministry of Finance to act as Vietnam’s representative in Intergovernmental Committees, Joint Committees, cooperation sub-committees or joint working groups between Vietnam and foreign partners, and bilateral, regional or multilateral economic - financial cooperation frameworks, including APEC, ASEM, ASEAN, ASEAN+3, V20, G20, subregions (Greater Mekong Subregion, ACMECS) and other economic - financial cooperation frameworks as assigned by the Minister of Finance;

- Play the leading role and cooperate with relevant units in organizing policy dialogues and provision of information on Vietnam’s policies for foreign partners as assigned by the Minister of Finance; play the leading role in preparing consolidated reports on conclusion and implementation of international conventions and international agreements within the scope of state management of the Ministry of Finance;

- Advise and assist the Minister of Finance in submitting reports to competent authorities on Vietnam’s stakes, contributions and annual dues paid to international organizations of which the Ministry of Finance acts on behalf of the State or Government of Vietnam as a member.

b) Regarding cooperation with Laos and Cambodia

- Assist the Minister of Finance in performing the role of a standing member, Chairman of Vietnam Cooperation Committee in the Vietnam - Laos Intergovernmental Committee on bilateral cooperation; act as a Secretary of Vietnam - Laos Cooperation Committee. Prepare strategies, conventions and agreements on economic - financial, cultural, technical - scientific cooperation between Vietnam and Laos; formulate and implement plans for implementation of cooperation programs Vietnam and Laos, and between Vietnam and Cambodia on the basis of the signed strategies, conventions, agreements and memorandums of understanding;

- Carry out study into, consolidate mechanisms and policies for, and develop long-term, 5-year and annual plans for economic - financial, cultural, technical - scientific cooperation with Laos; instruct, inspect and expedite implementation of cooperation plans by ministries, regulatory authorities and local governments, and submit periodical reports thereon; expedite the implementation of programs and projects funded by financial aid given by Vietnam’s Government to the Government of the Lao People's Democratic Republic, and the Government of the Kingdom of Cambodia;

- Play the role of a standing member in charge of assisting the Minister of Finance, Chairman of Vietnam Coordination Committee for the Cambodia - Laos - Vietnam Development Triangle Area, in proposing mechanisms, policies and measures for directing, managing and promoting economic-financial cooperation in the Triangle Area of three countries; draft programs and contents of cooperation between Cambodia, Laos and Vietnam. Instruct, inspect and expedite the implementation of the signed agreements by Ministries, regulatory authorities and local governments.

7. Regarding national credit rating and assessment of national credit risks

a) Play the leading role and cooperate with relevant units affiliated to the Ministry of Finance and those which are not affiliated to this Ministry in collecting, establishing, maintaining and updating the information system with national credit rating information and data; act as a focal point in charge of supervising macroeconomic status of bilateral and multilateral international organizations;

b) Perform promotion activities, organize meetings with international investors on an annual basis and on demand in order to intensify dissemination of Vietnam-related information to such investors, and facilitate the raising of capital in both domestic and international markets;

c) Cooperate with credit rating agencies, international organizations in organizing domestic and international conferences and seminars on national credit rating requirements;

d) Act as a focal point in charge of working with credit rating agencies and contacting Export Credit Agencies (ECAs) of the Organisation for Economic Co-operation and Development (OECD) to carry out assessment of national credit risks.

8. Regarding management of technical assistance programs, projects and non-projects

a) Submit to the Minister of Finance of Vietnam for promulgation of Regulations on management and implementation of provide technical assistance programs, projects and non-projects using foreign aid of the Ministry of Finance, and organize the implementation thereof;

b) Play the leading role or engage with relevant units in mobilization of foreign aid for technical assistance programs, projects and non-projects to be funded by foreign aid of the Ministry of Finance;

c) Play the leading role in appraising or consolidating and submitting to the Ministry of Finance for approval the instruments of technical assistance projects and non-projects using ODA loans, concessional loans and non-refundable grants other than ODA grants in which the Ministry of Finance acts as the governing body;

d) Cooperate with relevant units in establishing, designing, negotiating and formulating instruments of, appraising and organizing implementation and termination of technical assistance programs, projects and non-projects funded by foreign aid of the Ministry of Finance;

dd) Play the leading role and cooperate with relevant units in managing, monitoring, inspecting and evaluating the implementation of technical assistance programs, projects and non-projects funded by foreign aid of the Ministry of Finance; propose measures for dealing with difficulties that arise during the implementation of technical assistance programs, projects and non-projects funded by foreign aid of the Ministry of Finance;

e) Coordinate the implementation of programs and projects funded by foreign aid and foreign loans of the Ministry of Finance.

9. Management of foreign affairs

a) Submit Regulations on management of foreign affairs to the Minister of Finance of Vietnam for promulgation and organize the implementation thereof;

b) Play the leading role and cooperate with relevant units in developing and implementing the Ministry of Finance's foreign affairs plans approved by competent authorities;

c) Advise and request the leadership of and units affiliated to the Ministry of Finance to consider recommendations concerning DMFER’s functions and tasks from foreign partners;

d) Play the leading role in performing foreign affairs of the Ministry of Finance as delegated;

e) Prepare contents, perform reception tasks, assist in completing immigration procedures for delegations to foreign countries of the Ministry of Finance's leadership as assigned by the Ministry of Finance's leadership; assist in completing immigration procedures for organizations and individuals entering Vietnam to attend work sessions with the Ministry of Finance's leadership, which are chaired by the Minister of Finance as prescribed. Assist and instruct officials of the units affiliated to the Ministry of Finance (except those units assigned to manage officials) to follow passport and entry and exit visas-related procedures as prescribed.

10. Regarding other tasks

a) Organize forecasting, accounting, statistics, analysis, provision of information and reporting on public debts and other contents falling within the scope of DMFER’s management as prescribed;

b) Perform legal works in accordance with regulations of law and as assigned or delegated by the Minister of Finance of Vietnam;

c) Organize scientific research or cooperate with units operating in finance sector and in other relevant sectors in carrying out scientific research according to the scientific and technological research orientations approved by the Minister of Finance;

d) Instruct and provide guidelines about policies and regimes for state management and financial management within the ambit of assigned functions, tasks and powers of DMFER;

dd) Perform other tasks as assigned by the Minister of Finance of Vietnam in accordance with regulations of law.

Article 3. Organizational structure

1. DMFER is comprised of 12 divisions, including:

a) Office;

b) Planning and Risk Management Division;

c) Debt Accounting and Statistics Division;

d) Division of Management of Debts and Economic-Financial Cooperation with Governments of foreign countries (hereinafter referred to as “Bilateral Division”);

dd) Division of Management of Debts and Economic-Financial Cooperation with multilateral organizations (hereinafter referred to as “Multilateral Division”);

e) Central Project Management Division;

g) Local Project Management Division;

h) Government Guarantee and Trade Loan Management Division;

i) Aid Management Division;

k) Economic-Financial Integration Division;

l) Division of Cooperation with Laos and Cambodia;

m) Division of Foreign Affairs and Management of Programs and Projects.

Director of DMFER shall stipulate specific tasks of the Office and other divisions of DMFER.

2. DMFER shall work in such a manner in which its tasks may be performed by either its specific division or specialist. Regarding the tasks to performed by specialists, Director of DMFER shall assign its officials who meet eligibility and professional competence standards for relevant title holders to fulfill such tasks.

3. DMFER may organize an accounting apparatus and arrange qualified accountants to carry out accounting for Government's foreign debts, the Debt Repayment Fund, state budget-funded units and programs and projects under its management as assigned in accordance with regulations of law and by the Ministry of Finance.

4. Payroll of DMFER shall be subject to the decision issued by the Minister of Finance of Vietnam.

Article 4. Leadership

1. DMFER has a Director and Deputy Directors.

2. Members of the DMFER’s leadership may sign in order of or by proxy of the Minister of Finance of Vietnam the Official Dispatches providing guidelines on policies, regimes, authorization contracts for on-lending, loan sub-agreements, on-lending contracts (in case the Ministry of Finance acts as the on-lending agency), deposit agreements of the Debt Repayment Fund, documents on fund withdrawal and debt repayment and other documents serving professional activities of DMFER.

3. The Director of DMFER shall assume responsibility before the Minister of Finance of Vietnam and before the law for all operations of DMFER; take charge of managing officials, and assigned finances and assets as prescribed.

4. Deputy Directors of DMFER shall assume responsibility before the Director of DMFER and the Minister of Finance of Vietnam and before the law for their performance of assigned tasks.

Article 5. Effect and responsibility for implementation

1. This Decision comes into force from March 01, 2025.

2. The following Decisions shall cease to have effect from March 01, 2025:

a) Decision No. 2666/QD-BTC dated November 08, 2024 of the Minister of Finance of Vietnam defining the functions, tasks, powers and organizational structure of the Department of Debt Management and External Finance;

b) Decision No. 1936/QD-BTC dated August 15, 2024 of the Minister of Finance of Vietnam defining the functions, tasks, powers and organizational structure of the Department of International Cooperation;

c) Decision No. 836/QD-BKHDT dated May 15, 2023 of Minister of Planning and Investment of Vietnam defining the functions, tasks, powers and organizational structure of the Department of Foreign Economic Relations;

d) Decision No. 915/QD-BTC dated May 31, 2019 of Minister of Finance of Vietnam on establishment of Management Board of programs and projects funded by foreign aid and loans of the Ministry of Finance.

3. Director of DMFER, Director of Department of Personnel and Organization and Chief of the Office of the Ministry of Finance, and heads of relevant units and organizations affiliated to the Ministry of Finance are responsible for the implementation of this Decision./.