Decree No. 219/2013/ND-CP, issued by the Government on December 26, 2013 and effective from February 15, 2014, regulates management of enterprises’ borrowing of foreign loans and payment of foreign debts without government guarantee
Principles for managing self-borrowing and self-repayment foreign loans:
- The Government manages self-borrowing and self-payment foreign borrowing and debt payment activities within the framework of the national foreign debt management strategy, ensuring debt safety within the limits approved by competent authorities, and safeguarding national financial security and macroeconomic balance.
- Borrowers, when engaging in foreign borrowing and payment, must comply with the conditions for such activities; register their loans, open and use accounts, disburse and transfer repayment funds, and report on the status of loan execution in accordance with regulations set forth by the State Bank of Vietnam.
- Borrowers shall take full legal responsibility for entering into and performing foreign loan agreements on a self-borrowing and self-payment basis. The Government shall bear no responsibility for the performance of such foreign loans by the borrowers.
| Issuing bodies: | Government | Gazette number: | 71&72-01/2014 |
| Official number: | 219/2013/NĐ-CP | Gazette dated: | 10/01/2014 |
| Types of documents: | Decree | Signer: | Nguyen Tan Dung |
| Issuing date: | 26/12/2013 | Expiry date: | |
| Effective date: | 15/02/2014 | Effect status: | In force |
| Fields: | Enterprise | Updated date: | 26/12/2013 |
