Press release on the issuance of Circular No.38/2018/TT-NHNN
On December 25th 2018, the Governor of the State Bank of Vietnam (SBV) issued Circular No.38/2018/TT-NHNN regulating the importation of goods in service of money printing and minting activities of the SBV, which replaces Circular No. 18/2014/TT-NHNN dated August 1st, 2014 providing guidance on the importation of goods under the management of the State Bank of Vietnam (Circular 18) and Circular No. 15/2017/TT-NHNN dated October 5, 2017 amending and supplementing a number of Articles of Circular 18 (Circular 15).
This new Circular is designed to regulate the importation of goods for money printing and minting activities of the SBV on the basis of new regulations stipulated in Decree No. 69/2018/ND-CP dated May 15, 2018 issued by the Government providing guidance for the Law on Foreign Trade Management, while also inherits a number of provisions in Circular 18 and Circular 15 of the SBV to be in line with the current legal basis as well as to meet the practical requirements, specifically:
The new Circular is composed of 9 Articles, which regulate the importation of goods for printing and minting activities of the SBV under the method of direct procurement with the following contents: Subjects of application; Forms of importation; List of goods designated for importation; Basis and procedures for the importation; Responsibilities of the SBV’s units and the money printing and minting establishments.
This Circular takes effect from February 8, 2019.
Translated by VA