Business

New regulations on use of foreign currencies in Vietnam

A circular amending and supplementing several provisions of Circular 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign currencies in the territory of Vietnam became effective on May 13.
New regulations on use of foreign currencies in Vietnam ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – A circular amending and supplementing several provisionsof Circular 32/2013/TT-NHNN guiding the implementation of regulations onrestricting the use of foreign currencies in the territory of Vietnam becameeffective on May 13.

The circularNo.03/2019/TT-NHNN, issued by the State Bank of Vietnam on March 29, 2019, supplementsregulations regarding the cases in which the use of foreign currencies isallowed within the Vietnamese territory for non-residents.

Foreign investors are entitled to leave a deposit and provide collateral inforeign currencies through transfer when participating in an auction in thecase of buying shares in state-owned enterprises to be equitised as approved bythe Prime Minister.

Foreign investors areallowed to use foreign currencies when they purchase State shares and Statecapital contribution at State-owned enterprises and enterprises with Statecapital to be divested as approved by the Prime Minister.

Foreign investors canalso use foreign currencies in the case of purchasing shares and capitalcontribution of State-owned enterprises invested in other enterprises thatcarry out the divestment of State capital as approved by the Prime Minister.-VNA
VNA
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