The State Bank of Vietnam (SBV) is in the verge of creating a
better administered and transparent banking system. To become an
international attractive financial market, the SBV needs to
implement the planed Circulars and adopt international financial
standards as described below.
Foreign exchange governance
The Foreign Exchange Ordinance is revised by Article 1.4,
Ordinance No. 06/2013/PL-UBTVQH13 which specifies that enterprises
with foreign direct investment and foreign investors shall set up a
direct capital account in an eligible credit institution, and all
transactions regarding equity financing and capital earnings shall
be made through this account. The SBV implemented Circular 19 to
guide the Ordinance and clarified that foreign invested companies
and foreign investment projects have to comply with all relevant
national regulations, i.e. Investment Law, Enterprise Law, Personal
income-tax Law, Corporate income-tax Law.
