Investors must transact in Vietnamese dong on indirect investments to Viet Nam, according to Decree 160/2006/ND-CP, regulating the detailed implementation of the ordinance on foreign currency.
Under the decree, foreign investors, including individuals and organisations, considered non-residents in Viet Nam, must open accounts for indirect investment in Vietnamese dong with banks.
Indirect investment coming in foreign currency must be converted into dong, and all transactions related to it must be carried via the account in dong.
Investors can change Vietnamese dong in their accounts to buy foreign currency for transferring overseas. Current account foreign currency for transactions for residents and non-residents in Viet Nam remains the same as before.
Meanwhile, according to the State Bank of Viet Nam stipulations, amount of foreign currencies, Vietnamese dong, and gold transferred in and out of the country are subject to changes under certain circumstances.
Source: VNA
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