Decision No. 343/2003/QD-NHNN dated April 10, 2003 of the State Bank of Vietnam amending and supplementing Article 1 of the State Bank Governor’s Decision No. 418/2000/QD-NHNN7 of September 21, 2000 on subjects entitled to foreign currency loans from credit institutions

DECISION

AMENDING AND SUPPLEMENTING ARTICLE 1 OF THE STATE BANK GOVERNOR'S DECISION NO. 418/2000/QD-NHNN7 OF SEPTEMBER 21, 2000 ON SUBJECTS ENTITLED TO FOREIGN CURRENCY LOANS FROM CREDIT INSTITUTIONS

THE STATE BANK GOVERNOR

Pursuant to the Vietnam State Bank Law and the Credit Institution Law of December 12, 1997;

Pursuant to the Government's Decree No. 86/2002/ND-CP of November 5, 2002 defining the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies;

Pursuant to the Government's Decree No. 63/1998/ND-CP of August 17, 1998 on foreign exchange management and Decree No. 05/2001/ND-CP of January 17, 2001 amending and supplementing a number of articles of the Government's Decree No. 63/1998/ND-CP of August 17, 1998 on foreign exchange management;

At the proposal of the director of the Department for Monetary Policies,

DECIDES:

Article 1.- To amend and supplement Article 1 of the State Bank Governor's Decision No. 418/2000/QD-NHNN7 of September 21, 2000 on subjects entitled to foreign currency loans from credit institutions as follows:

"Article 1.- Credit institutions licensed to conduct foreign exchange operations shall consider and decide to provide foreign currency loans for customers being residents to meet the following capital demands:

1. Payment to foreign parties for the import of goods and/or services in service of customers' production and business activities;

2. Execution of investment projects, plans on production and trading of export goods and services; production and business capital demands of customers that have or have no foreign currency revenue sources on the Vietnamese territory, but have the right to purchase foreign currencies for repayment of loan debts according to the provisions of the legislation on foreign exchange management;

3. Discount of export voucher sets;

4. Premature repayment of foreign debts, if investment projects or production and business plans efficiently use such foreign loans;

5. Laborers going to work abroad for given periods of time as prescribed by the State Bank of Vietnam;

6. Execution of projects on direct overseas investment under the Prime Minister's decision and the State Bank's guidance."

Article 2.- This Decision takes implementation effect fifteen days after its publication on the Official Gazette.

Article 3.- The heads of the units under the State Bank, the directors of the State Bank's branches in the provinces and centrally-run cities, the Managing Boards and general directors (directors) of credit institutions, and borrowing customers shall have to implement this Decision.