Circular 37/2012/TT-NHNN: More objects are allowed to borrow foreign currency
Enterprises importing gasoline (assigned by the Ministry of Industry and Trade) that have need for loans in foreign currency to pay debts to foreign countries will be considered for short-term lending in foreign currency till December 31st, 2013.
The above are specified in Circular 37/2012/TT-NHNN of the State Bank of Vietnam on December 28th, 2012.
Accordingly, a number of other capital needs also be considered for borrowing in foreign currency: Short-term, medium-term and long-term loans to pay foreign countries for imports of goods and services; short-term loans in the country to implement the business plan for goods export with conditions that borrowers have enough foreign currency fund for repayment of loans; loans for foreign direct investment oversea for important projects approved and supported by the National Assembly and the Government.
Circular takes effect from January 1st 2013, replacing Circular 03/2012/TT-NHNN on March 8th 2012.