The State Bank of Viet Nam has issued a circular to replace Circular 18/21014/TT-NHNN, regarding the import of equipment and materials for printing money.

This was stated by the central bank in a press release on its website.

Accordingly, organisations which are allowed to import equipment and materials for printing banknotes will be expanded, in order to meet the central bank’s demand for printing money.

Currently, only the National Banknote Printing Plant is allowed to import equipment and materials.

The new circular will allow the State Bank of Viet Nam to appoint an organisation in the banking sector with an eligible legal status and capacity to participate in importing materials and equipment for printing banknotes.

In addition, the central bank will have documents to confirm equipment and materials imported with the aim of printing banknotes.

This aims to create favourable conditions for customs clearance because equipment and materials for printing banknotes are no longer exempted for customs clearance under the Law on Customs No 54/2014/QH13.

The new circular will take effect on November 20. — VNS