Vietnamese
On September 30, 2022, the State Bank of Vietnam issues Circular No. 12/2022/TT-NHNN providing several instructions on foreign exchange administration in respect of enterprises’ foreign borrowing and foreign debt repayment of enterprises.
The foreign loan is a generic term that means foreign loans that are not guaranteed by the Government and those that are guaranteed by the Government by means of foreign borrowing through borrowing contracts, deferred payment contracts for import of goods, lending entrustment contracts, contracts for finance leasing or debt instrument issuance on the international market of the borrower...
This Circular prescribes procedures for registration, registration for change of foreign loans that are not guaranteed by the Government. At the same time, the Circular prescribed in the issues:
- Opening and use of loan accounts, and repayment of foreign debts at the institutional organizations which are permitted to operate in Vietnam.
- Fund withdrawal, debt repayment, and other fund transfer transactions in relation to the arrangement of foreign loans;
- Foreign exchange administration in respect of transactions relating to guarantee for foreign loans in Vietnam, transfer of guarantee for foreign loans, reimbursement of compulsory indebtedness between borrowers, and the party of guarantee of foreign loans that are guaranteed by the Government.
Provision, use, and administration of information posted on the website for administration of foreign borrowing and repayment of foreign loans which are not guaranteed by the Government (hereinafter referred to as website);
The mechanism for making statistical reports on enterprises’ foreign borrowing and repayment of foreign loans which are not guaranteed by the Government.
Circular No. 12/2022/TT-NHNN takes effect on November 15, 2022.
