Vietnam - Foreign Exchange ControlsVietnam - Foreign Exchange Controls
Conversion of Vietnamese dong into hard currency no longer requires foreign exchange approval and Vietnam abolished foreign exchange surrender requirement in 2003. The Law on Investment allows foreign investors to purchase foreign currency at authorized banks to finance current and capital transactions and other permitted transactions. The availability of foreign exchange has been an intermittent problem since mid-2008 largely because of persistent balance of trade deficits.
Foreign businesses can remit in hard currencies all profits, shared profits, losses from joint ventures, income from legally-owned capital, properties, and services and technology transfers. Foreigners also can remit royalties and fees paid for the supply of technologies and services, principal and interest on loans obtained for business operations, investment capital, and other money and assets under their legitimate ownership. The SBV’s objective is to maintain a stable exchange rate and any devaluation would not be more than two percent.
Vietnam Foreign Exchange