Foreign Exchange Controls The inflow of foreign currency into Vietnam is generally welcomed with minimal restrictions, while the transfer of foreign currency out of the country is still controlled. Under the current law, at least 50 percent of all foreign-currency income generated in Vietnam from exports, services, and other sources must be deposited at or sold to licensed banks in the country, except in special cases approved by the State Bank. Normally, banks give priority in the sale of foreign currency to companies that need foreign exchange for the importation of materials and supplies for the production of exports. Currently, there are five state-owned banks, more than 50 private joint-stock banks, five foreign joint-venture banks, and more than 20 totally foreign-owned bank branches operating in the country. Most of them engage in foreign trade activities. Business Advisor Guidelines | Taxes/Rates | Export/Import | Laws | Offices | Forex | IP/Copyright