Joint Circular No. 023 / LB-ED-FIN guiding the use of self-owned foreign currency and aid from the higher education, vocational training, and vocational education sectors.

This Circular guides the use of self-owned foreign currency and aid from the higher education, vocational training, and vocational education sectors for investment in purchasing equipment for teaching activities, internships, production labor, and scientific research. Foreign currency sources are managed in their original form at the Vietnam Commercial Bank and prioritized for importing modern machinery and equipment.

Document No.023/LB-ÐH-TC
Document typeJoint Circular
Issuing authorityMinistry of Finance
Signed byNgô Thiết Thạch
Updated02/07/2026
SectorLabour, War Invalids and Social Affairs
FieldUncategorized
Issued date21/10/1989
Effective date21/10/1989
Expiry date—
StatusIn effect
✦ Smart summary

This Circular guides the use of self-owned foreign currency and aid from the higher education, vocational training, and vocational education sectors for investment in purchasing equipment for teaching activities, internships, production labor, and scientific research. Foreign currency sources are managed in their original form at the Vietnam Commercial Bank and prioritized for importing modern machinery and equipment.

Scope of application

The higher education, vocational training, and vocational education sector

Key points

  • The higher education, vocational training, and vocational education sector is permitted to use all self-owned foreign currency and aid for investment in purchasing equipment for teaching activities, internships, production labor, and scientific research.
  • All self-owned foreign currency and aid of the higher education, vocational training, and vocational education sector deposited into foreign currency accounts at the Vietnam Commercial Bank and recorded in their original form.
  • During the usage process, priority should be given to importing modern machinery and equipment for teaching and scientific research purposes. If it is necessary to purchase domestic machinery, equipment, materials, or expenses in Vietnamese currency, the foreign currency can be sold to the centralized foreign currency fund of the State according to the buying and selling rates of the Vietnam Commercial Bank.
  • Units under the higher education, vocational training, and vocational education sector must record, manage according to current regulations, and report periodic final accounts to the Ministry of Higher Education, Vocational Training, and Vocational Education.
  • This amount of foreign currency is not deducted from the foreign currency intended for implementing agreements on education and scientific research with foreign countries.

🌐 Social impact of this document

  • Positive impact: Helps the education sector improve teaching quality and equip modern devices.
  • Negative impact: May cause a burden on management and use of foreign currency for subordinate units.

❓ Frequently asked questions

How is the higher education, vocational training, and vocational education sector allowed to use self-owned foreign currency and aid?

Allowed to use all self-owned foreign currency and aid for investment in purchasing equipment for teaching activities, internships, production labor, and scientific research.

How are foreign currency sources managed?

All self-owned foreign currency and aid deposited into foreign currency accounts at the Vietnam Commercial Bank and recorded in their original form.

If it is necessary to purchase machinery and equipment domestically, what can the education sector do?

If the state budget cannot meet the needs, the Ministry of Higher Education, Vocational Training, and Vocational Education may sell foreign currency to the centralized foreign currency fund of the State according to the buying and selling rates of the Vietnam Commercial Bank.

How must subordinate units of the education sector report periodic final accounts?

Must implement recording, management according to current regulations and report periodic final accounts to the Ministry of Higher Education, Vocational Training, and Vocational Education.

Is this amount of foreign currency deducted from the foreign currency intended for implementing agreements with foreign countries?

No, this self-owned foreign currency and aid is not deducted from the foreign currency intended for implementing agreements on education and scientific research with foreign countries.

Full text

MINISTRY OF FINANCE

Number: 023/LB-DH-TC

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

------------------------------

Hanoi, October 21, 1989

JOINT CIRCULAR

GUIDELINES FOR THE USE OF SELF-HAVING FOREIGN CURRENCY AND ASSISTANCE IN THE SECTOR OF HIGHER EDUCATION, VOCATIONAL TRAINING, AND PROFESSIONAL EDUCATION

Implementing Decision No. 201/CT dated July 22, 1989 of the Chairman of the Council of Ministers on allowing the higher education, vocational training, and professional education sector to use all self-having foreign currency and assistance, the Ministry of Higher Education, Vocational Training, and Professional Education and the Ministry of Finance provide specific guidelines for implementation as follows:

I. General Provisions:

1. The higher education, vocational training, and professional education sector is permitted to use all self-having foreign currency and assistance (including foreign currency cash and checks) to invest in purchasing equipment used in teaching, internships, production labor, and scientific research, to equip new and replace existing equipment, construct and repair facilities for teaching and scientific research within the sector. This amount of foreign currency shall not be deducted from the foreign currency allocated annually to implement agreements on teaching and scientific research with foreign countries (such as scholarships for overseas students, internship students, graduate students, etc.) provided to the Ministry of Higher Education, Vocational Training, and Professional Education.

2. The Ministry of Higher Education, Vocational Training, and Professional Education has the authority to allocate the permissible foreign currency among subordinate units to assist institutions in fulfilling their tasks related to teaching, production labor, and scientific research.

3. All self-having foreign currency and assistance of the higher education, vocational training, and professional education sector must be fully reflected in the state budget. When using it, a budget for income and expenditure must be prepared and a reporting and settlement system implemented as for state budget funds allocated according to the quota (quarterly, annually).

         II. Specific Provisions on Management and Use of Self-Having Foreign Currency and Assistance.

      1. The sources of foreign currency that the higher education, vocational training, and professional education sector is allowed to use according to Decision No. 201/CT dated July 22, 1989 of the Chairman of the Council of Ministers include:

a/ Contributions from experts' salaries (including local currency and converted foreign currency) sent by the Ministry of Higher Education, Vocational Training, and Professional Education. In cases where our country must reserve part of the experts' salaries to repay debts to the host country, the Ministry of Higher Education, Vocational Training, and Professional Education can only use the remaining amount after deducting the repayment amount.

b/ Revenue from payments made by the counterpart and contributions from students and trainees who earn income through advanced skill training.

c/ Revenue from cooperative projects with foreign countries and international organizations in teaching and scientific research. Foreign currency payments in cash or checks to scientists in the education and training sector are regulated in Circular No. 3157/V7 dated July 18, 1989 of the Council of Ministers.

d/ International organization funding for international programs, seminars, and training courses in Vietnam.

đ/ Assistance from international organizations, national organizations, non-governmental organizations, individuals, overseas Vietnamese associations, international student sports organizations, etc.

            2. Depending on the nature of each source of foreign currency mentioned above, they will be managed and used as follows:

a/ All self-having foreign currency and assistance of the Ministry of Higher Education, Vocational Training, and Professional Education shall be deposited into foreign currency accounts at the Vietnam Commercial Bank and recorded in original currency.

b/ The management and use of this foreign currency must comply with the State's foreign exchange management regulations. Priority should be given to importing modern machinery and equipment for teaching and scientific research. If there is a need to purchase domestic machinery and equipment or cover expenses in Vietnamese currency for sector activities that the state budget has not yet met, the Ministry of Higher Education, Vocational Training, and Professional Education may sell foreign currency to the centralized foreign currency fund of the State at the buying and selling rate of the Vietnam Commercial Bank, and use Vietnamese currency for these activities.

c/ Units under the higher education, vocational training, and professional education sector receiving self-having foreign currency and assistance (in original currency or Vietnamese currency from the Ministry of Higher Education, Vocational Training, and Professional Education) must implement accounting, management according to current regulations and report and settle periodically to the Ministry of Higher Education, Vocational Training, and Professional Education as for state budget funds allocated.

          III. Article of Implementation:

            This Circular takes effect from the date of issuance. Any difficulties encountered during implementation should be reported to the Ministry of Higher Education, Vocational Training and Industry for consideration and resolution by the Ministry or Joint Ministries.

 

DEPUTY MINISTER OF FINANCE

DEPUTY MINISTER OF HIGHER EDUCATION, VOCATIONAL TRAINING AND INDUSTRY

                             VICE MINISTER

                             Ngô Thiết Thạch                                                                                Trần Chí Đảo

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