Roadmap on liberalization of capital transactions announced

16:49 | 17/08/2016 Finance - Banking

The PM has passed the Project on the Roadmap for liberalization of capital transactions.

Roadmap on liberalization of capital transactions announced

Illustration photo

The new project aims to set a roadmap on liberalization of Vietnamese capital transactions in accordance with economic norms and structures; domestic socio-economic circumstance and Viet Nam’s international commitments.

It also targets to attract foreign investment; closely supervise inflow and outflow of capital; stabilize the macro-economy; boost sustainable growth; minimize negative impacts from international capital inflows; and perfect Sate management mechanisms.

The roadmap on  liberalization of capital transactions is exempted from international commitments which Viet Nam is a signatory.

Under the roadmap, all policies must target to minimize the use of administrative intervention; apply economic measures to alter capital inflows such as tariffs and interests; and apply supervisory measures on macroscopic safety.  

Tightening control of outward investment flows

In the context of prioritizing capital for socio-economic development, the roadmap sets to tighten control of outward investment.

In case of favorable market conditions, stable economic growth, licenses of indirect outward investment would be extended and technical barriers will be loosened in consideration of macro-economic stability and mitigation of negative impacts on international trade balance and foreign currency market./.

 

Source: VGP

 

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