Vietnam – The Administrative Procedures To Be Amended, Supplemented, And Replaced In The Field Of Foreign Exchange Operations

The State Bank of Vietnam issued Decision No. 187/QD-NHNN dated 22 February 2022 on the announcement of administrative procedures to be amended, supplemented, and replaced in the field of foreign exchange operations performed at the one-stop service counter under the management function of the State Bank of Vietnam. This decision has the following main contents:

1. The list of administrative procedures specified in Decree No. 121/2021/ND-CP to be amended and supplemented within the scope of management functions of the State Bank, including:

• Procedures for granting receipts and payments licenses of foreign currency and other foreign exchange activities (for prize-winning electronic game businesses); and

• Procedures for converting receipts and payments licenses of foreign currency and other foreign exchange activities (for prize-winning electronic game businesses).

2. The list of administrative procedures specified in Decree No. 121/2021/ND-CP to be replaced within the scope of management functions of the State Bank, including:

• Procedures for re-issuance of receipts and payments licenses of foreign currency and other foreign exchange activities (for the business of prize-winning electronic games);

• Procedures for adjusting receipts and payments licenses of foreign currency and other foreign exchange activities (for the business of prize-winning electronic games); and

• Procedures for extension of receipts and payments licenses of foreign currency and other foreign exchange activities (for the business of prize-winning electronic games).

These procedures are replaced by procedures for re-issuance/adjustment/renewal of receipts and payments licenses of foreign currency and other foreign exchange activities (for the business of prize-winning electronic games).

Detailed regulations on specific contents of administrative procedures to be amended, supplemented, and replaced within the scope of management functions of the State Bank.

For further information, please contact:

 Minh Ngo Nhat, Managing Partner, BLawyers
minh.ngo@blawyersvn.com