THE
STATE BANK OF VIETNAM
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SOCIALIST
REPUBLIC OF VIETNAM
Independence-Freedom-Happiness
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No.
11/2003/TT-NHNN
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Hanoi,
December 11, 2003
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CIRCULAR
PROVIDING
GUIDANCE ON FOREIGN EXCHANGE ACTIVITY FOR THE PURCHASE OF GOVERNMENT BONDS IN
FOREIGN CURRENCY BY ORGANIZATIONS, INDIVIDUALS IN ACCORDANCE WITH THE DECISION
NO. 182/2003/QD-TTG DATED 5 SEPTEMBER, 2003 OF THE PRIME MINISTER
Pursuant to the Decision No.
182/2003/QD-TTg dated 5 September, 2003 of the Prime Minister on the issuance
of the Government Bonds for investing in several national important
communication and irrigation works, the State Bank of Vietnam provides guidance
on the implementation of foreign exchange activity for the purchase of the
Government Bonds in foreign currency by organizations and individuals as
follows:
1. Subjects:
Subjects participating in the
purchase of Government Bonds shall include:
a. Vietnamese citizen living
inside and outside the country;
b. Vietnamese people permanently
residing in foreign countries;
c. Foreigners who are working,
residing in Vietnam;
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e. Political organizations,
socio-political organizations, vocational-socio-political organizations; social
organizations and socio- vocational organizations;
f. Organizations of every
economic sector;
g. Foreign organizations that
are operating in Vietnamese territory
2. Governing Scope:
This Circular shall govern
foreign exchange activity concerning the purchase of Government Bonds in
foreign currency by organizations and individuals in accordance with the
Decision No. 182/2003/QD-TTg dated 5 September, 2003 of the Prime Minister.
3. The opening and use of
foreign currency account for the purchase of Government Bonds by foreign
currency:
3.1. Subjects that purchase
Government Bonds in foreign currency shall be entitled to open and use their
account "foreign currency deposit" to buy Government Bonds in foreign
currency. The opening and use of the account "foreign currency
deposit" at Commercial Banks permitted to engage in foreign exchange
activity in Vietnam shall comply with the Circular No. 01/1999/TT-NHNN7 dated
16 April, 1999 of the State Bank guiding the implementation of the Decree No.
63/1998/ND-CP dated 17 August, 1998 of the Government on foreign exchange
control.
3.2. The content of receipt and
payment on the account "foreign currency deposit" of organizations,
individuals as provided for at Section I and II of Chapter I, Section I and III
of Chapter II, Part II in the Circular No. 01/1999/TT-NHNN7 dated 16 April,
1999 of the State Bank is supplemented as follows:
Receipt:
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Payment:
Foreign currency payment for the
purchase of Government Bonds in foreign currency.
4. Provision on the use of
foreign currency for purchasing Government Bonds:
4.1. Bond purchasers being
organizations shall be entitled to use foreign currency on the account
"foreign currency deposit" at banks permitted to engage in foreign
exchange business for their purchase of Government Bonds in foreign currency.
4.2. Bond purchasers being
Vietnamese citizen shall be entitled to use foreign currency on the account
"foreign currency deposit" and cash in foreign currency for their
purchase of Government Bonds in foreign currency at the State Treasury.
4.3. Bonds purchasers being
Vietnamese people, who permanently reside in a foreign country, and foreigners,
who work and reside in Vietnam, shall be entitled to use foreign currency on
the account "foreign currency deposit" for their purchase of
Government Bonds in foreign currency at the State Treasury.
5. Implementing provisions
5.1. This Circular shall be
effective after 15 days from the date of its publication in the Official
Gazette.
5.2. Organizations, individuals
purchasing Government Bonds in foreign currency in accordance with the Decision
No. 182/2003/QD-TTg dated 5 September, 2003 of the Government on the issuance
of Government Bonds for investing in several national important traffic and
irrigational works shall be responsible for the implementation of this
Circular.
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FOR
THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Phung Khac Ke