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Vietnam: Foreign investors are allowed to deposit money by transfer in foreign currency

Duy Thịnh

15:50, 04/04/2019

The State Bank of Vietnam issued Circular No. 03/2019/TT-NHNN on amendments to a number of articles of Circular No. 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign exchange in the territory of Vietnam.

Circular No. 03/2019/TT-NHNN of the State Bank of Vietnam supplements the regulation that foreign investors are allowed to deposit money by transfer in foreign currency when participating in the auction in the following cases:

- Buying shares in state-owned enterprises undergoing equitization approved by the Prime Minister;

- Buying shares and state capital contributions in state-owned enterprises and state-owned enterprises with divestment approved by the Prime Minister;

- Buying shares and capital contributions of state-owned enterprises invested in other enterprises with divestment approved by the Prime Minister.

In case of winning the auction, the foreign investor will transfer investment capital according to the provisions of law on foreign exchange management to pay for the purchase value of shares and capital contributions.

View more details at Circular No. 03/2019/TT-NHNN of the State Bank of Vietnam, effective from May 13, 2019.

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