DECISION

AMENDING CLAUSE 1, ARTICLE 1 OF THE PRIME MINISTER’S DECISION NO. 173/1998/QD-TTG OF SEPTEMBER 12, 1998 ON THE OBLIGATION TO SELL AND THE RIGHT TO BUY FOREIGN CURRENCY(IES) OF THE RESIDENTS BEING ORGANIZATIONS

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;
In furtherance of Article 12 and Clauses 1 and 2 of Article 13 of the Government’s Decree No. 63/1998/ND-CP of August 17, 1998 on foreign exchange management;
At the proposal of the Governor of Vietnam State Bank,

DECIDES:

Article 1.- To amend Clause 1, Article 1 of the Prime Minister’s Decision No. 173/1998/QD-TTg of September 12, 1998 on the obligation to sell and the right to buy foreign currency(ies) of the residents being organizations as follows:

Residents being Vietnam economic organizations, foreign-invested enterprises and foreign partners to business cooperation contracts that are ensured with the Vietnamese Government’s support for foreign currency balance and branches of foreign companies, foreign contractors, domestic contractors joining partnership with foreign ones, shall have to immediately sell at least 50% of their foreign currency amounts earned from current revenue sources to the licensed banks.

Article 2.- This Decision takes effect after its signing. The Governor of Vietnam State Bank shall have to guide the implementation of this Decision.

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PRIME MINISTER




Phan Van Khai