To facilitate the mobilization of capital by commercial banks and the control of foreign indirect investment capital flow into Vietnam, the State Bank recently issued Document No. 5647/NHNN-CSTT to permit commercial banks to issue valuable papers to investors not permanently residing in or not operating in Vietnam.
To facilitate the mobilization of capital by commercial banks and the control of foreign indirect investment capital flow into
Accordingly, the issuance of valuable papers by commercial banks to overseas investors must comply with the 2006 Securities Law, the 2005 Investment Law, the 2005 Foreign Exchange Ordinance and relevant guiding documents.
In each issue, the proportion of valuable papers in VND issued to investors that are non-resident and not operating in Vietnam is specified by the issuing bank in adherence to the principle that the total of par-values of valuable papers in VND held by those investors is at most equal to 50% of the balance of immature valuable papers of the issuing bank at any time.
Commercial banks are responsible for the issuance of valuable papers to investors which are non-resident and not operating in
(Source: VietnamLaw)
