The CIRCULAR stipulated the purchase-sale of foreign currency of some corporations, the State Corporation _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3-Point base document No. 2578/TTg-KTTH on 23/12/2009 of Prime Government regulations on the sale of foreign currencies of a number of corporations, the State Corporation, the State Bank of Vietnam (SBV is off) instructions as follows : section I.

 GENERAL PROVISIONS 1. Scope and object apply: 1.1. This circular regulates the Corporation, the Corporation State service in the sale of foreign currencies for credit institutions are permitted and are the right to buy back the foreign currency in foreign currency number range was sold from credit institutions are allowed to serve the needs of Exchange.

1.2. The purchase-sale of foreign currencies according to the content provided in this circular are applicable to corporations, the State Corporation (including the business members are State capitals over 50% as defined in business law in 2005 and is not a credit institution) is named after the : a) the Vietnam oil and gas group b) Coal Corporation, the Vietnam mineral c) chemical industry Corporation Vietnam (Vietnam Chemical Corporation) d) airports company South of) the South food General company e) Northern food Corporation g) Vietnam machinery erection Corporation 2. Explanation of terms In this circular, the terms below are interpreted as follows: 2.1. The organization is The Corporation, the Corporation (including the business members are State capitals over 50% as defined in business law, 2005) in the Corporation, the Corporation State specified in clause 1 of this circular.

2.2. Credit institutions are credit institutions are allowed to operate in Vietnam allowed foreign exchange operations in accordance with the law.

2.3. Obligation to sell foreign currencies is the Organization to sell to credit institutions are allowed to exchange numbers obtained from the current source of revenue and the balance on deposit accounts in credit institutions.

2.4. The right to buy foreign currencies is the organization is buying foreign currency at credit institutions are allowed to respond to the needs of current payment and other legal transactions on the basis of present evidence, documents from the relevant and valid.

2.5. current revenue source is the Organization's revenue from current transactions as stipulated in Decree No. 160/2006/ND-CP on December 28, 2006 detailing the Government's enforcement of the Ordinance on foreign exchange.

2.6. The balance on foreign currency deposit accounts of organizations including non-term deposits balance and the balance of term deposits held at credit institutions are permitted.

2.7. "managing and keeping" accounts of foreign currency credit institutions are allowed to open separately for each organization to make the purchase of foreign currency on the deposit balance of the organization according to the provisions of this circular.

2.8. Foreign currency is the currency freely convertible.

3. scope of purchase-sale Exchange: 3.1. The sources of Exchange organizations must sell for credit institutions are permitted: a foreign currency) on account of the term deposits held in credit institutions, are allowed at the time on December 31, 2009.

b foreign currency) on account of non-term deposits held in credit institutions are permitted at the time on December 31, 2009.

c) income from current transactions arising from 01/01/2010.

3.2. The needs of Exchange organization be acquired from credit institutions are allowed: When using foreign currency needs for legitimate purposes (a payment, deposit or deposit) in the month is greater than the balance available on the Organization's foreign currency accounts and foreign currency earner in the month, organizations are allowed to buy back the currency number missing to serve the needs of use according to the the provisions of this circular.

4. The principle of buy-sell of Exchange: 4.1. The Organization made the sale of foreign currency in the form of foreign currency deposit term and non-term on December 31, 2009 for credit institutions are permitted where the Organization has a foreign currency deposit accounts.

4.2. Organizing the sale of foreign currencies for credit institutions are allowed would then make the acquisition of foreign currency from major credit institutions. Credit institutions are allowed to have the responsibility to monitor, control ensure the principle of organization is the acquisition of foreign currencies a maximum of foreign currency with which the Organization was sold to credit institutions are permitted according to the provisions of this circular.

4.3. in case when purchased sufficient number of Exchange that the Organization was sold to credit institutions are permitted according to the provisions of this circular, the organization still needs to buy foreign currency, buying foreign currency sale of held-and credit institutions are allowed to be made on the basis of the agreement of the parties , in compliance with the relevant regulations on Foreign Exchange Management.

4.4. Credit institutions are allowed to have foreign currency balance self responsibility to make the purchase-sale Exchange with organizations under the provisions of this circular. Credit institutions are allowed to ensure the implementation of the provisions of the SBV about maintaining foreign exchange status at the time made the purchase-sale Exchange with organizations. The case of the purchase of foreign currencies from the organisation to do beyond Forex status of credit institutions, credit institutions are allowed to make the sale right for the exchange of status beyond the SME under the SME rate listed on the purchase of foreign currency on the interbank market at the time of the transaction. SBV will sell the foreign currency to credit institutions are allowed to sell to the organization when the organization asked according to SBV rates listed for sale of foreign currency on the interbank market at the time of the transaction.

4.5. in case of not enough USD to buy foreign currencies, credit institutions are allowed to make the sale of foreign currencies to which the credit institutions are allowed to afford not to arrange money USD to buy from institutions for SME, SME rate listed on the purchase of foreign currency on the interbank market at the time of the transaction. SBV will sell the foreign currency to credit institutions are permitted according to SBV rates listed for sale of foreign currency on the interbank market at the time of the transaction to the credit institutions are allowed to have foreign currency to sell for the organization when the organization asked.

4.6. Exchange rate made buy-sell exchange of credit institutions are allowed to and organizing is done according to the current rules of SBV.

4.7. for the number of foreign currency credit institutions are allowed to buy from and sell to the SBV by 4.4 and point 4.5 content section I of this circular, credit institutions are allowed to use foreign currency selling rate for SME, to pay for the organization. Similarly, with regard to the number of foreign currency credit institutions are allowed to buy from the SBV to sell for the organization when the organization requested, credit institutions are allowed to sell foreign currencies for the Organization at a rate equal to rate of Exchange was bought from the SBV.

Section II.

The OBLIGATION To SELL FOREIGN CURRENCIES FROM The BALANCE On The DEPOSIT ACCOUNT 5. The amount of foreign currency to sell: 5.1. For the balance of term deposits held in credit institutions are allowed as of 31/12/2009 (except for the escrow account, deposit or guarantee for future debt obligations): implementation of selling 30% foreign currency deposits balance term on December 31, 2009. Of the remaining foreign currency, the organisation will make selling to credit institutions are permitted within 2 months of the beginning of 2010.

5.2. for non-term deposits balance of the Organization at credit institutions are permitted on 31/12/2009: organizations retain of foreign currency needed to service the demand for payment and the number of exchange currently holds for the purpose of deposit, deposit or guarantee for future debt obligations; the number of Exchange organizations must left selling right for credit institutions.

6. sale procedure for the balance of the deposit according to point 5 of this circular section II: 6.1. For term deposits balance at 31/12/2009: a) credit institutions are allowed to have a responsibility to correctly identify and blockade the balance of foreign currency on the foreign currency deposit account term of institutions in credit institutions are permitted at the time on December 31, 2009.

b) credit institutions are allowed to transfer 30% of foreign currency on the deposit accounts of the term held to account "for management and custody". At the same time, credit institutions are allowed to notify the organization late to date 06/01/2010 to sell to credit institutions are allowed to exchange numbers have switched to "manage and custody".

c) following on 06/01/2010, the organization does not make the sale of foreign currencies has moved to "manage and custody" for credit institutions are allowed to, credit institutions are allowed to make the purchase right of Exchange; at the same time credited to your Vietnam Dong accounts held in credit institutions. The case held open Vietnam Dong accounts in credit institutions are allowed to credit institutions shall be allowed to open Vietnam Dong accounts for the Organization to make the purchase right of Exchange and asked the Organization to complete the procedure of account opening amount $ under the provisions of the credit institutions.

d) credit institutions are allowed to plans with the Organization on the purchase of the remaining foreign currency of the Organization at the latest before 31/03/2010 and actively implementing plans to buy foreign currencies according to the provisions of this circular.

DD) with respect to the number of foreign currency purchased from the balance of term deposits, at the time of purchase, credit institutions are allowed to pay interest on the number of Exchange organizations must sell under interest rates with interest rates already committed under the term of sending and calculated on the actual number of days the Organization has sent currencies in credit institutions. This interest credit institutions are allowed to pay for the Organization in foreign currency, foreign currency income of the Organization in may arise and are calculated as specified in section III of this circular.

6.2. for foreign currency deposits balance non-term at 31/12/2009: a) within 5 working days from the date of December 31, 2009, the Organization must present documents, documents with credit institutions are permitted on the reasonableness of the number of Exchange need to hold back demands for payment in January 2010, and the number of exchange currently holds for the purpose of depositing , deposit or guarantee of the organization. Credit institutions are permitted based on the document records show the Organization to accurately determine the number of Exchange organizations should keep on non-term deposits balance at 31/12/2009.


b) after deducting the number of Exchange determined should retain prescribed in detail a Point 6.2 above, credit institutions are allowed to convert the number of foreign currency remaining on non-term deposit accounts as of 31/12/2009 of the Organization to "managing and keeping". At the same time, credit institutions are allowed to notify the organization late to date 13/01/2010 to sell to credit institutions are allowed to exchange numbers have switched to "manage and custody".

c) following on 13/01/2010, the organization does not make the sale of foreign currencies has moved to "manage and custody" for credit institutions are allowed to, credit institutions are allowed to make the purchase right of this Exchange in the manner prescribed in Section 6.1 Point c II to this circular.

d) credit institutions are allowed to pay in foreign currency interest rates for the organization with the interest rate and the actual number of days the Organization send foreign currencies in credit institutions. This interest is calculated as income of the Organization in January, 2010.

Section III.

The OBLIGATION To SELL The FOREIGN CURRENCY FROM The SOURCE CURRENCY TRANSACTIONAL 7. The amount of foreign currency to sell: 7.1. With respect to the deposit of foreign currency at 31/12/2009 in the escrow account, deposit or guarantee to pay for future debt obligations, organizations not selling for credit institutions. Expiry of deposit, deposit or guarantee; If no further extension of time deposit, a deposit or guarantee or not used or not used up to pay for the debt obligations, the number of Exchange are considered part of exchange arising increases and is calculated as the new currency earner under section III of this circular.

7.2. for income arising from 01/01/2010, on the basis of balance with demand automatic use of Exchange and the escrow account, deposit arises in the months of organizing, the rest sold for credit institutions are permitted according to the provisions of this circular.

8. sale process: 8.1. Within 5 working days of the first month, the Organization must plan on the need to use foreign currency (for the purpose of payment, deposit or deposit) in June sent credit institutions are allowed to accompany the record, documents proving the reasonableness of the use of foreign currency needs of the organization.

8.2. Credit institutions are permitted based on the document records show the Organization, determine the exact number of Exchange organizations should retain from the transactional revenue incurred in May to serve the needs of exchange of logical organization.

8.3. Upon receipt of the income of the Organization, the credit institutions are allowed to write There on foreign currency deposit accounts of the Organization and the blockade of foreign exchange balance of the Organization to implement buy-sell as specified in section III of this circular. Credit institutions are allowed to balance foreign currency sources obtained and the use of foreign currencies in July. A new source of revenue cases arise and the balance on the current account of the organization beyond the number of Exchange organizations have to use, in the previously defined plan, credit institutions are allowed to inform the Organization to make the purchase of foreign currencies exceeding this within 3 working days from the date of credit institutions are allowed to inform the organization. 3 working days too, the organization does not make the sale of foreign currencies for credit institutions beyond the allowed, credit institutions are allowed to buy foreign currency, this number immediately in the manner referred to in Points 6.1 c weather section II of this circular.

8.4. After having determined about the need to use foreign currency in January of rational organisation, cases arise more demand for foreign currencies in that month, the Organization must inform and send to credit institutions are allowed to record, documents proving the reasonableness of using foreign currency needs arise. Credit institutions are allowed to check the reasonableness of the number of Exchange should use more of, to have accurate metrics make the balance needs to exchange transactional resources obtained by the Organization in October and made the purchase of foreign currencies exceeding prescribed in point 8.3 section III of this circular.

Section IV.

The RIGHT To BUY FOREIGN CURRENCIES Of The ORGANIZATION 9. The organization is entitled to hold foreign currency deposits on account of the organisation of foreign currency from current source of revenue in the month to make the needs of use on the basis of demonstrated the reasonableness of the use of foreign currency needs of the Organization in May.

10. in case of the need to use foreign currencies in March for the purpose of the payment and the purpose of deposit, deposit held in the month is greater than the proceeds and the balance foreign currency account there, held rights to the purchase of foreign currencies is missing from credit institutions are permitted on the basis of the export documents and vouchers valid for credit institutions are allowed to to serve the needs of legitimate use.

11. Procedure of purchase: credit institutions are allowed to have the responsibility of examining the reasonableness of the purchasing needs of Exchange serves the purpose of use of the Organization, made the sale of foreign currencies for the organization according to the provisions of this circular and the relevant regulations.

V.

The LIABILITY Of The CREDIT INSTITUTION. Make the purchase-sale Exchange with organizations: 12.1. Self balancing of resources to make the purchase-sale of foreign exchange to the organization according to the provisions of this circular and the regulations on Foreign Exchange Management are related.

12.2. check, collate, document, records show the Organization to accurately determine the number of Exchange need to retain for the Organization to make reasonable use of the needs of the Organization; of the remaining foreign currency credit institutions are allowed to buy of the organization according to the provisions of this circular.

12.3. open "manage and custody" for each hosted at credit institutions are allowed to buy foreign currencies from the organization according to the provisions of this circular.

12.4. the use of foreign currency deposit accounts held in credit institutions are allowed to make the purchase-sale of foreign currencies to the organization according to the provisions of this circular.

13. credit institutions are allowed to purchase, sell, Exchange under the provisions of this circular with the Organization must: 13.1. Guide to urge the organizations make the purchase-sale of foreign currencies according to the regulations of the SBV in this circular;

13.2. Tracking, control ensure the rule about the amount of foreign currency bought, sold under the provisions of this circular.

13.3. To maintain foreign exchange status under current rules of SBV.

13.4. Make test, control the vouchers when making buying, selling of foreign currency with the organization consistent with the provisions of this circular and the provisions of the current legislation, particularly the demand for foreign currency.

13.5. The detection of infringements of the organization with respect to the provisions relating to the purchase-sale of foreign currency on the timely, the report said SBV to take measures to handle.

13.6. Retention of documents related to the purchase and sale of foreign currency, as prescribed in this circular for inspection, audit later.

13.7. SBV report requested by the content of this circular.

VI.

The RESPONSIBILITY Of The ORGANIZATION 14. The Organization has the responsibility and obligation as follows: 14.1. Taken seriously the purchase-sale of foreign currencies as prescribed in this circular 14.2. Enumerate correctly the demand of foreign currencies in July to request credit institutions are allowed to keep foreign currency number obtained in order to balance the needs of foreign exchange income in the month of the organization. Chairman of the Board, General Director (Director) held to be responsible for the accuracy and reasonable of the self balancing ability collectible, in Exchange, to make regulations to purchase-sale of foreign currencies for credit institutions are permitted according to the provisions of this circular.

14.3. In compliance with the regulations, to present the full range of vouchers and documents according to the rules and requirements of the credit institutions are allowed when done buying-selling of foreign currency.

14.4. Retention of documents related to the purchase and sale of foreign currency, as prescribed in this circular for inspection, audit later.

14.5. Corporations, State Corporation responsible for the instructions, ask the business member corporations, State Corporation seriously implementing the purchase-sale of foreign currencies according to the provisions of this circular.

Category VII.

REPORTING REQUIREMENTS 15. Credit institutions are allowed to have the responsibility to implement the requirement to report the situation to buy-sell foreign currencies to SBV data and reports from the Prime Minister. Report content the following: 15.1. To report the sales to buy foreign currencies according to the content outlined in detail b and c Section 6.1 point II of this circular about the total number of Exchange to buy from term deposits balance of the organization. The reports follow the model No. 1 and send the SBV (foreign exchange management and transaction) slowly added on 08/01/2010.

15.2. Reported sales buy foreign currencies according to the content outlined in detail b and c 6.2 points. Section II of this circular about the total number of Exchange to buy from non-term deposits balance of the organization. The reports follow the model No. 2 and send the SBV (foreign exchange management and transaction) at the latest on 15/01/2010.

15.3. Monthly, at the latest on the fifth business day of the following month, reporting sales of buy-sell Exchange in months for the Organization to send SBV (foreign exchange management and transaction). The report made according to form No. 3 attached.

15.4. in case of sudden report about metrics, implementation of purchase-sale of foreign currency and other content relevant to the implementation of purchase-sale Exchange with organizations, credit institutions are allowed to perform as required by the SBV.

16. Periodically or irregularly when necessary, the SBV has responsibility for summing, data purchase – sale of foreign currency by credit institutions are allowed for the Organization of the report the Prime Minister.

Item VIII.

INSPECTION PROCESSING VIOLATIONS 17. Periodically or when necessary, the SBV and the relevant authorities inspect implementation of the purchase-sale of foreign currency by institutions with credit institutions are permitted according to the provisions of this circular. Institutions and credit institutions are allowed to have a responsibility to provide all necessary materials, documents for the examination is done timely, effective.


18. The event of a breach of the provisions of this circular, depending on the level of violation, the Organization, the credit institutions are allowed to be dealt with under the provisions of the law.

19. in case of other problems arise related to the purchase-sale of foreign currencies as specified in this circular, the Organization and credit institutions are allowed to have the responsibility to report SME to be reviewed and resolved.

Section IX.

The ORGANIZATION MADE 20. This circular is effective from the date of signing.

21. Implementation: 21.1. All amendments and supplements to this circular by the State Bank Governor decided.

21.2. The Chief, Chief Inspector, inspection agency surveillance, monitor banks, heads of units of the State Bank, Director of The State Bank branch, central cities, General Manager (Director) credit institutions are permitted; Chairman of the Board, General Director (Director) organization responsible for implementation of this circular.

21.3. The ministries, the Organization's administration according to function, their duties coordinating the direction make this circular./.