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Law No. 11/2012/QH13 dated June 20, 2012 of the National Assembly on prices
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Law No. 11/2012/QH13

Independence– Freedom – Happiness

Hanoi, June 20, 2012





Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/NQ-QH10;

The National Assembly promulgates the Law on Prices.

Chapter I


Article 1. Scope of regulation

This Law prescribes rights and obligations of organizations and individuals in field of Prices; activities of managing and regulating prices of the State.

Article 2. Subjects of application

Production or business organizations and individuals; consumers; state agencies; other organizations and individuals relating to activities in the field of prices in the territory of Vietnam.

Article 3. Law application

1. Activities in the field of prices in the territory of Vietnam must observe provisions of this Law.

2. Where an international treaty which the Socialist Republic of Vietnam has signed or acceded to contains provisions different from those of this Law, the provisions of such international treaty shall apply.

Article 4. Interpretation of terms

In this Law, the following terms and phrases shall be construed as follows:

1. Goods mean properties that may exchange, buy, sale in the market, and enable to satisfy demands of human, including types of movable and immovable properties.

2. Service means goods of which nature is invisible, and the process of manufacturing and consuming cannot be separated, including types of service in the system of Vietnamese production trades as prescribed by law.

3. Essential goods or services mean goods, services cannot lack for manufacture, life, national defense, security, including: main raw material, fuel, materials, services for manufacture, circulation; products satisfy basic demands of human and defense, security.

4. Market price means price of goods or services being formed, governed by factors and movement of market which be decided at a point of time, a certain location.

5. Price determination means provision on prices of goods or services by competent State agencies or production or business organizations and individuals....

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