Quyết định 61/2002/QD-TTg

DECISION

ON THE AMENDMENT OF PARAGRAPH 1 ARTICLE 1 OF THE DECISION No. 61/2001/QD-TTg DATED 25 APRIL, 2001 OF THE PRIME MINISTER ON THE OBLIGATION TO SELL AND THE RIGHT TO BUY FOREIGN CURRENCY OF RESIDENTS BEING AN ORGANIZATION

PRIME MINISTER

Pursuant to the Law on the Government Organization dated 25 December 2001;
Pursuant to the Decree No. 05/2001/ND-CP dated 17 January, 2001 of the Government on the amendment, supplement of several Articles of Decree No. 63/1998/ND-CP dated 17 August, 1998 of the Government on the Foreign Exchange Control;
Upon the proposal of the Governor of the State Bank of Vietnam,

DECIDES

Article 1. Paragraph 1 Article 1 of the Decision No. 61/2001/QD-TTg dated 25 April, 2001 of the Prime Minister shall be amended as follows:

“Residents being Vietnamese economic organizations, enterprises with foreign invested capital and foreign parties to a business cooperation contract, branches of foreign companies, foreign contractors, contractors in partnership with foreign parties, must sell immediately at least 30% of foreign exchange earnings from current account income to banks in Vietnam, which are authorized to engage in foreign currency activities by the State Bank of Vietnam (hereinafter referred to as authorized banks) from the date of the transfer or surrender of the foreign currency earnings to foreign currency accounts of organizations opened at authorized banks”.

Article 2. This Decision shall be effective from the date of signing.

Article 3. The Governor of the State Bank of Vietnam shall be responsible for the guidance of the implementation of this Decision.

Ministers, Heads of ministry-level agencies, Heads of Government agencies, Chairs of the People's Committees of provinces, cities under the central Government's management shall be responsible for the implementation of this Decision.