Press release on issuance of Circular No.17/2020/TT-NHNN
Hanoi, December 14, 2020. The Governor of the State Bank of Vietnam (SBV) has issued Circular No.17/2020/TT-NHNN amending and supplementing a number of articles of Circular No.33/2013/TT-NHNN dated December 26, 2013 of the SBV Governor providing guidance on the procedures to acquire the approval for the export and/or import of foreign currencies in cash by licensed commercial banks.
The new Circular is aimed to improve the legal foundation for connecting the procedure for “the approval of the export and/or import of foreign currencies in cash by licensed commercial banks” with the National One-Stop-Shop mechanism in order to implement Decree No.85/2019/ND-CP dated November 14, 2019 providing for the implementation of the administrative procedures under the National One-Stop-Shop mechanism, the ASEAN One-Stop-Shop mechanism, and the specialized inspection applied for the import and/or export of commodities.
The new Circular is composed of 4 Articles, specifically as follows:
Article 1: Amending and supplementing Article 3 of Circular No.33/2013/TT-NHNN
Article 2: Replacing Appendices 01, 02, 03 as promulgated in Circular No.33/2013/TT-NHNN by new Appendices 01, 02, 03 as stipulated in this new Circular.
Article 3: Responsibilities for the implementation (of this Circular).
Article 4: Enforcement
The new Circular shall take effect from February 1, 2021.
Translated by Le Hang