On 15 November 2022, the National Assembly of Vietnam passed the new law on anti-money laundering which will replace the current law from 1 March 2023. Reporting entities as covered in the new law should take into account certain key changes in anti-money laundering regulations.
The State Bank of Vietnam released a draft circular on conditions for enterprises’ offshore loans without government guarantee, which aims to replace Circular No. 12/2014/TT-NHNN dated 31 March 2014. The Draft Circular tightens the control on offshore loans to tackle the risk of excess national foreign debt quota and to promote the onshore loan market. Borrowers are now expected to meet additional conditions to borrow offshore loans without government guarantee.