Capital Account

Draft — not yet checked against the instrument. This article has been drafted from published legal commentary on Circular 38/2026/TT-NHNN, not from the text of the circular itself. Article numbers and the detail of each change still have to be verified against the official Vietnamese text. Do not act on it yet. Legal position as at 16 September 2026

The State Bank of Vietnam issued Circular 38/2026/TT-NHNN on 31 July 2026. It took effect on 18 August 2026. It replaces Circular 06/2019/TT-NHNN, which had governed foreign exchange for foreign direct investment since 2019, and it amends Circular 03/2025/TT-NHNN on the Vietnamese-dong accounts used for foreign indirect investment.