The PRIME MINISTER'S DECISION on the obligation to sell and buy rights of exchange of residents is the PRIME organization pursuant to the law on Government Organization, 30 September 1992;
To implement article 12 and paragraph 1, paragraph 2 article 13 of Decree 63/1998/ND-CP of August 17, 1998 by the Government on Foreign Exchange Management;
According to the proposal of the Governor of the State Bank, DECIDES: 1. Sale of foreign currency obligations of resident was held 1. Residents hosted Vietnam's economy, businesses invested abroad and foreign parties involved in business cooperation contracts was Vietnam's Government secured the support of foreign exchange balance and branches of foreign companies, foreign contractors, contractors with foreign countries , are sold at a minimum 80% of the foreign currency gained from the current source of revenue for banks be allowed within 15 working days from the date of Exchange is moved or filed on account of foreign currency held open at the Bank.
For foreign currency balance available on your account from the current source of revenue before the decision to this effect must still perform the selling obligation of exchange rate regulation on; The State Bank of Vietnam Guide made the purchase-sale.
2. Residents are State agencies, units of the armed forces, political organization, social-political organizations, social organizations, social-professional organization, the Social Fund, the charity must sell all of Vietnam's foreign currency obtained from current source of revenue for banks be allowed within 15 working days from the date of Exchange is moved or filed on account of foreign currency held open at the Bank.
For foreign currency balance available on your account prior to the date of this decision to the effect of the above-mentioned organization, are holding back of foreign currency needed to maintain foreign currency accounts under the provisions of the bank where the account open, the rest are sold out for the Bank. The sale of foreign currencies available on accounts of this organization must be made within 15 working days from the date of this decision to take effect.
3. Resident's businesses have foreign capital and foreign parties involved in business cooperation contracts not be Vietnam Government secured the support of foreign exchange balance shall not perform the obligation to sell foreign currencies as specified in paragraph 1 of this article.
4. With regard to the number of Exchange obtained from current source of revenue in the form of funding, humanitarian aid of residents is the above mentioned organisations do not have to perform the obligation to sell foreign currencies, which made by agreement pledged between residents with the sponsoring party.
Article 2. The right to buy foreign currencies by resident hosted 1. Residents hosted Vietnam's economy, credit institutions in Vietnam, businesses invested abroad and foreign parties involved in business cooperation contracts was Vietnam Government ensure balance support foreign currencies, foreign affiliates, foreign contractors, contractors with foreign and other economic institutions have foreign capital operation business in Vietnam, State agencies, units of the armed forces, political organization, social-political organizations, social organizations, civil society organizations-career, social funds, charitable foundation of Vietnam when in need of foreign currency to meet for current transactions and transactions are allowed under the rules, the other was right to buy foreign currency in banks are allowed on the basis of presented papers, the vouchers valid for Bank.
2. Resident's businesses have foreign capital and foreign parties involved in business cooperation contracts not be Vietnam Government ensure balance support Exchange when in need of foreign currency to meet for current transactions and the transactions allowed under regulations and was approved by Vietnam's State Bank, was buying foreign currency at the the Bank was allowed on the basis of presented papers and vouchers valid for Bank.
Article 3. Purchase-sale of foreign currency of the budget 1. The Exchange Fund account of the State budget to open at the State Bank of Vietnam to perform any account currency-in foreign currency of the State budget.
2. on the basis of annual plans currency-currency spending of State budget, Ministry of Finance of the same unified Vietnam State Bank buy-sell approach of exchange of the State budget.
The Ministry of finance and the State Bank of Vietnam made purchase-sale of foreign currency on the basis of quarterly plans currency-spending foreign currencies and foreign currency buying-selling approach has been consistent.
Article 4. The liability of the Bank allowed banks to be allowed when the purchase-sale of foreign currencies have the responsibility: 1. Guide and urge residents hosted service in the sale of foreign currencies according to the decision. When the prescribed time limit that is not organizations resident service in selling foreign currencies, the Bank allowed will notify residents is held to the correct observance of obligations. After the case was reported, within 5 working days that residents are still not organized observance obligation to sell foreign currencies, the Bank allowed will make the purchase of foreign currency according to the rate provided for in this decision;
2. Meet the number of exchange for residents is organized according to the provisions of article 2 of this decision;
3. Quoted rates of purchase and sale rates prescribed by the State Bank of Vietnam, the listing rates are regarded as a committed foreign currency trading with customers;
4. Buying and selling foreign currencies according to the rates listed;
5. Make sure to maintain foreign exchange status or Vietnam bronze status last October under the provisions of the State Bank of Vietnam, made the purchase and sale of foreign currency on the inter-bank foreign currency market to ensure foreign exchange status last October in the prescribed level;
6. Make the sale of foreign currencies for residents is organized according to the policy priorities of the Government's import in each period, the regulations on the sale of foreign currencies according to Decree No. 63/1998/ND-CP of August 17, 1998 by the Government and Law enforcement instruction text on foreign investment in Vietnam.
Article 5. Apply the Exchange transaction forms the purchase-sale of foreign currency of the customer with the Bank are applied according to the form of the Exchange transaction for immediate delivery, the term deals and swaps according to regulations of the State Bank of Vietnam.
Article 6. Effect 1. This decision has effect from the date of signing.
2. The regulations previously about the obligation of selling and buying foreign exchange rights of residents are held contrary to this decision are hereby repealed.
Article 7. Enforcement of decisions the Governor State Bank is responsible for guiding the implementation of this decision.
The Ministers, heads of ministerial agencies, heads of government agencies, the Chairman of the provincial people's Committee, the central cities is responsible for the implementation of this decision.