Official Dispatch No. 4423/NHNN-QLNH dated June 11, 2010 of the State Bank of Vietnam making report on the sale and lending for import payment

To:       - Credit institutions authorized to engage in foreign exchange activity

With a view to implementing direction of the Prime Minister at the Resolution No. 18/NQ-CP dated 6 April 2010 on the promotion of export, restriction of trade deficit, improvement of payment balance, the Ministry of Industry and Trade issued the Decision No. 1899/QD-BCT on 16 April 2010 on the List of inessential imported goods items, consumer commodities of which the import is not encouraged and the Decision No. 2840/QD-BCT dated 28 May 2010 on the List of essential goods items which can be produced domestically, the State Bank of Vietnam issued the Official Dispatch No. 3215/NHNN-CSTT dated 29 April 2010 and the Official Dispatch No. 4186/NHNN-CSTT dated 4 June 2010 requesting Credit Institutions to strictly control and restrict the provision of foreign currency loans for making payment for the import of goods items belonging to the two mentioned above Lists.

State Bank of Vietnam hereby requires Credit Institutions authorized to engage in foreign exchange activity (CI) to make report on some of following contents under the attached form:

- Total volume of foreign currency sold and lent arising in a week to serve the payment of goods items imported under the two Lists mentioned above of Ministry of Industry and Trade and ratio of amount of foreign currency lent, sold for the purpose of import of goods items under the two above lists against the total amount of foreign currency lent, sold for the import purpose of CI;

- Total amount of Vietnamese Dong loan arising in a week for purchase of foreign currency to serve the payment of goods items imported under the two Lists mentioned above of Ministry of Industry and Trade

Reporting data under above Forms shall be summarized on weekly basis and sent to Department of Foreign Exchange Control, State Bank of Vietnam on Tuesday of the business week following the reporting week at the latest at the two fax numbers as follows: 04.39343468 and 04.39367692. Time for reporting shall begin from the week from 14 to 18 June 2010.

CIs shall be responsible for accuracy of reporting information and for keeping files/records at Head Office to serve activity of examination, inspection of SBV.

State Bank of Vietnam would like to inform for the knowledge and implementation of Credit Institution authorized to engage in foreign exchange activity.

Reporting Unit:

Telephone:

Fax:

To: Foreign Exchange Control Department- State Bank

Report on the sale and lending in foreign currency

for import payment

For the week from...../......./......... to ....../........../.........

Note:

- List 1 is the List of inessential imported goods items of which the import is not encouraged (issued in conjunction with the Decision No. 1899.QD-BCT dated 16 April 2010 of Minister of Industry and Trade)

- List 2 is the List of machines, equipment, materials, raw materials which can be produced domestically (issued in conjunction with the Decision No. 2840/QD-BCT dated 28 May 2010 of Minister of Industry and Trade)