08 responsibilities of the State Bank of Vietnam in management of enterprises’ borrowing of foreign loans and payment of foreign debts

According to Article 9 of Decree No. 219/2013/ND-CP of Vietnam’s Government, 8 responsibilities of the State Bank of Vietnam in management of enterprises’ borrowing of foreign loans and payment of foreign debts without government guarantee are as follows:

1. To assume the prime responsibility for, and coordinate with the Ministry of Finance and the Ministry of Planning and Investment in, forecasting annual levels of medium- and long-term net foreign loans borrowed by the mode of self-borrowing and self-payment under Article 6 of this Decree.

2. To assume the prime responsibility for, and coordinate with the Ministry of Finance, the Ministry of Planning and Investment and related agencies in, setting conditions for short-, medium- and long-term foreign loans borrowed by the mode of self-borrowing and self-payment in each period.

3. To guide procedures for and organize the registration, change registration, revocation or cancellation of written certifications of registration of foreign loans borrowed by borrowers by the mode of self-borrowing and self-payment.

4. To assume the prime responsibility for, and coordinate with the Ministry of Finance, the Ministry of Planning and Investment and related agencies in, developing and submitting to the Prime Minister for approval and organizing the implementation of, measures to manage the borrowing of foreign loans by the mode of self-borrowing and self-payment in order to attain management objectives in each period.

5. To monitor the implementation of the limit of foreign loans borrowed by the mode of self-borrowing and self-payment.

6. To coordinate with the Ministry of Finance in developing a process of collecting, reporting, summarizing, sharing and publishing information on national foreign debts.

7. To review the annual situation of the borrowing of foreign loans and payment of foreign debts by the mode of self-borrowing and self-payment by enterprises, credit institutions and foreign bank branches and report it to the Prime Minister and the Ministry of Finance for annual national review of the borrowing of foreign loans and payment of foreign debts.

8. To perform other tasks related to the state management of the borrowing of foreign loans and payment of foreign debts by the mode of self-borrowing and self-payment under Article 5 of this Decree.

View more details at Decree No. 219/2013/ND-CP of Vietnam’s Government, effective from February 15, 2014.

Ty Na

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