Gov't loosens regulations on foreign currencies
The decree, dated October 18, which supplements and amends some articles in the existing decree coded 63/1998/ND-CP, says Vietnamese and foreigners, both residents and non-residents, are now free to pay in foreign currencies and send foreign currencies within Viet Nam's territory without having to submit papers.
Decree 131/2005/ND-CP also says Vietnamese and foreigners, both residents and non-residents, are allowed to buy, send and carry foreign currencies abroad for legal payment, without having to submit papers related to their fulfillment of tax payment in Viet Nam.
The decree also says that all foreigners, both residents and non-residents, are permitted to buy foreign currencies at banks to send abroad, but they are required to submit necessary papers to the State Bank of Viet Nam.
The decree enables Vietnamese residents to buy, send and carry foreign currencies abroad to pay for medical examinations and treatment, or school fees without having to get licenses from the SBV. All they need to do is to submit papers that request them to pay school and hospital fees from foreign sides to domestic commercial banks./.
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