New regulations on use of foreign currencies in Vietnam
13 May 2019
The State Bank of Viet Nam recently issued Circular No. 03/2019/TT-NHNN on amending and supplementing a number of articles of Circular No. 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign currencies across the Vietnamese territory. This Circular takes effect from 13 May 2019.
Foreign investors are allowed to pay deposit and provide collateral in foreign currency when they participate in auction in the following cases:
(i) To purchase shares in state-owned enterprises which are entitled to equitization as approved by the Prime Minister.
(ii) To purchase the state’s shares and capital contributions in state-owned enterprises and enterprises with state capital to be divested as approved by the Prime Minister.
(iii) To purchase shares and capital contributions of state-owned enterprises invested in other enterprises which conduct the withdrawal of state capital as approved by the Prime Minister.
Nature of measure:
Type:
-
Treatment and operation (Capital transfer and FOREX)
Inward FDI:
No
Outward FDI:
No
Sources:
