According to statistics, the volume of public administrative procedure handling in the foreign exchange sector at the State Bank of Vietnam (SBV), Branch of Region 2, including confirmation of registration of foreign debt repayment loans not guaranteed by the government; issuance of certificates of eligibility for gold jewelry production; licensing of foreign exchange brokerage; foreign exchange payment; confirmation of outward investment transactions, etc., has been significant and consistently increasing over the years. Among these, foreign debt registration accounts for a large proportion and violations are also higher compared to other areas.
Mr. Nguyen Duc Lenh, Deputy Director of SBV, Branch of Region 2, shared that according to statistical reports, the number of violating enterprises in the foreign exchange sector has been decreasing year after year and has seen a significant drop compared to three years ago.
As Mr. Lenh pointed out, the number of violating enterprises and those subjected to administrative penalties has decreased. While in 2022, 73 enterprises were penalized for violations in the foreign exchange sector, this number dropped to 35 in 2024, and in the first six months of 2025, only 11 enterprises were found to be in violation and were administratively fined. The amount of penalties has also decreased, while the number of handled administrative procedures in this field continues to rise year after year.
From a management perspective, this is considered a positive development, indicating enterprises’ improved compliance with regulations related to foreign exchange management in the field of foreign debt repayment not guaranteed by the government, capital transactions, and remittances; and foreign exchange brokerage. This outcome is closely linked to the effectiveness of the SBV’s monetary and credit policy implementation in the region, the industry’s information and communication efforts, and especially the responsibility of credit institutions in providing services, information, guidance, and consulting for enterprises.
Common violations committed by enterprises include: late submission of documents compared to the prescribed timeframe; misuse of capital; opening and using incorrect accounts; withdrawing capital or repaying loans without prior registration or modification of loan terms, among others. SBV, Region 2, has been proactive in compiling and disseminating this violation-related information in a straightforward and understandable manner to enterprises. They achieve this by sending information to credit institutions providing services, as well as through departments, associations, and enterprises themselves that are engaged in foreign debt repayment activities in the region.
Enforcement of violations in the monetary and banking sector, in general, and in the foreign exchange sector, in particular, is a management measure to ensure discipline and compliance in these activities, contributing to their safe and efficient operation. However, enterprises’ strict adherence to regulations and the reduction of violations hold tremendous and comprehensive significance. It not only ensures the efficient operation of enterprises, harnessing the role of foreign currency sources for production and business development, but also contributes to enhancing the effectiveness of the SBV’s monetary and foreign exchange policies and the overall efficiency of state management and public service delivery.
– 16:47 06/06/2025
The Securities Commission Accelerates Implementation of Red Tape Reduction and Simplification
“The esteemed Vice President urged officials to demonstrate focus, dedication, and proactive engagement in knowledge acquisition. Emphasizing the importance of diligence, the Vice President encouraged a culture of open communication to ensure a comprehensive understanding of operational procedures and administrative requirements. This directive extends to the leaders of units under the SSC’s jurisdiction, who are responsible for enforcing strict adherence to conditions governing administrative procedures and business operations.”
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The market witnessed a significant shake-up in the first five months, with approximately 111.6 thousand businesses exiting – a figure almost mirrored by the number of new businesses entering the fray or returning to activity, totaling 111.8 thousand.
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The Ministry of Construction has taken the initiative to instruct its subordinate units to review and streamline the procedures for issuing construction permits for projects with detailed planning at a scale of 1/500. This proactive approach aims to enhance efficiency and expedite the processes involved in obtaining construction permits for such projects.
The Real Estate Industry’s Struggle with a Mountain of Project Red Tape
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