New regulations on use of foreign currencies in Vietnam

04:21' PM - Thursday, 16/05/2019

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.

The circular No.03/2019/TT-NHNN, issued by the State Bank of Vietnam on March 29, 2019, supplements regulations regarding the cases in which the use of foreign currencies is allowed within the Vietnamese territory for non-residents.

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

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

Foreign investors can also use foreign currencies in the case of purchasing shares and capital contribution of State-owned enterprises invested in other enterprises that carry out the divestment of State capital as approved by the Prime Minister.- VNA

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