Decision No. 845/2004/QĐ-NHNN of the State Bank of Vietnam on issuing the Payment Regulations for trade, exchange of goods and services, investment, and aid between Vietnam and Laos. This Decision replaces previous regulations and takes effect from the date of publication in the Official Gazette.
Scope of application
The State Bank of Vietnam, Branches of the State Bank in provinces/cities directly under the Central Government, General Directors/Directors of Commercial Banks, Department of Foreign Exchange Management, Chief of the State Bank of Vietnam Office.
Key points
- The State Bank of Vietnam → issues the Payment Regulations for trade, exchange of goods and services, investment, and aid between Vietnam and Laos.
- This Decision replaces Decision No. 245/QĐ-NHNN7 dated August 2, 2000 and Decision No. 611/2002/QĐ-NHNN.
🌐 Social impact of this document
- Positive impact: Creates a legal basis for payments between Vietnam and Laos, enhancing economic cooperation between the two countries.
- Negative impact: May cause difficulties during the transition from old to new regulations.
❓ Frequently asked questions
Who does this Decision apply to?
This Decision applies to the State Bank of Vietnam, Branches of the State Bank in provinces/cities directly under the Central Government, General Directors/Directors of Commercial Banks, Department of Foreign Exchange Management, Chief of the State Bank of Vietnam Office.
When does this Decision take effect?
This Decision takes effect fifteen days after its publication in the Official Gazette.
What regulations does this Decision replace?
This Decision replaces Decision No. 245/QĐ-NHNN7 dated August 2, 2000 and Decision No. 611/2002/QĐ-NHNN.
How does this Decision relate to trade, exchange of goods and services, investment, and aid between Vietnam and Laos?
This Decision issues the Payment Regulations for activities related to trade, exchange of goods and services, investment, and aid between Vietnam and Laos.
Full text
DECISION
Regarding the issuance of the Payment Rules for the purchase, sale, exchange of goods, services, investment, and aid between Vietnam and Laos goods, services, investments, and aid between Vietnam and Laos
________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997 and the Law Amending and Supplementing Certain Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated June 17, 2003;
Pursuant to the Trade Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic signed on March 9, 1998;
Pursuant to the Settlement Agreement between the State Bank of Vietnam and the Bank of the Lao People's Democratic Republic signed on December 21, 1998;
Pursuant to the guidance of the Prime Minister in Circular No. 1515/VPCP-KTTH dated April 1, 2004 of the Office of the Government regarding the payment mechanism between Vietnam and Laos;
At the proposal of the Director of the Foreign Exchange Management Department.
Pursuant to …;:
Article 1. Attached hereto are the Payment Rules for the purchase, sale, exchange of goods, services, investment, and aid between Vietnam and Laos.
Article 2. This Decision takes effect 15 days from the date of publication in the Official Gazette and replaces Decision No. 245/QĐ-NHNN7 dated August 2, 2000 of the Governor of the State Bank of Vietnam on the implementation of the temporary payment mechanism in Vietnamese Dong (VND) and Lao Kip (LAK) between Vietnam and Laos, and Decision No. 611/2002/QĐ-NHNN dated June 13, 2002 of the Governor of the State Bank of Vietnam amending Article 12 of Decision No. 245/QĐ-NHNN7.
Article 3. The Head of the Office, the Director of the Foreign Exchange Management Department, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam Branches in provinces and centrally governed cities, and the General Directors (Directors) of commercial banks are responsible for implementing this Decision./.
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