Central bank simplifies regulations in foreign exchange management

Central bank simplifies regulations in foreign exchange management

The new circular amends and supplements five legal documents, thereby reducing and adjusting 11 administrative procedures in foreign exchange management.

The circular also amends the regulations on opening and using foreign currency accounts abroad by resident organisations. —VNA/VNS Photo

A newly-issued State Bank of Vietnam (SBV) circular will simplify 11 administrative procedures in foreign exchange management from July 25, 2026.

Circular No. 17/2026/TT-NHNN consists of six chapters and 20 articles, focusing on foreign borrowing, international bond issuance, lending abroad, indirect investment and management of foreign currency accounts abroad.

It amends and supplements five legal documents.

Under the circular, the SBV will send confirmation documents for complete and valid applications within five working days.

For foreign loans and international bond issuances guaranteed by the Government, the director of the SBV branch in the region where the borrower or issuer has its head office will be the competent authority to confirm registration and confirm changes.

Regarding overseas lending activities, the circular clearly defines the authority based on the loan value.

Specifically, the director of the Foreign Exchange Management Department is responsible for confirming registration for loans exceeding US$10 million or equivalent, while the director of the SBV regional branch is responsible for loans of $10 million or equivalent.

The circular also amends regulations on opening and using foreign currency accounts abroad by resident organisations.

Accordingly, the director of the SBV regional branch is authorised to issue, revoke, amend and supplement licences for cases outside the authority of the director of the Foreign Exchange Management Department. 

Bizhub