On 26/06/2019, the Governor of the SBV issued of Circular No. 06/2019/TT-NHNN guiding the management of foreign exchange for foreign direct investment activities in Vietnam, replacing the Circular No. 19/2014/TT-NHNN dated 11/08/2014 of Governor of the SBV.
About the Circular No. 06/2019/TT-NHNN:
Circular 06/2019/TT-NHNN is issued to guide the contents related to foreign exchange management for foreign direct investment activities in Vietnam in accordance with the law on foreign management. Exchange at the Foreign Exchange Ordinance (amended and supplemented), Decree 70/2014 / ND-CP dated July 17, 2014 of the Government detailing the implementation of a number of articles of the Ordinance on Foreign Exchange (amended , amendments and supplements) and the law on investment in the 2014 Investment Law, specifically as follows:
The Circular specifies the concept of enterprises with foreign direct investment capital, serving as a basis for determining subjects to open direct investment capital accounts.
The Circular specifies the contents of revenue and expenditure on direct investment capital accounts in foreign currencies and direct investment capital accounts in Vietnam dong.
The Circular regulates the contents related to the payment of the value of investment capital transfer, investment projects including user accounts, valuation currencies, and payment transactions in transfer transactions.
In addition to the above contents, the Circular also specifies the responsibilities of authorized credit institutions, foreign direct investment enterprises and foreign investors in order to create a legal and advanced basis. responsibilities of concerned organizations and individuals in complying with regulations on foreign exchange management for foreign direct investment activities in Vietnam.
The values ​​of Circular No. 06/2019 / TT-NHNN provide:
Strengthen foreign exchange management to ensure market stability, increase foreign exchange reserves, attract foreign currency from FDI.
Perfecting the legal framework for foreign exchange management, creating favorable conditions and ensuring legitimate interests for organizations and individuals engaged in foreign exchange activities, in line with practical requirements, contributing to promoting economic development.
Create a clear legal corridor in managing direct investment flows into and out of Vietnamese territory.
Encouraging remittances, attracting foreign currency into the banking system, limiting domestic foreign exchange use, contributing to stabilizing the foreign currency market.