DECREE

ON AMENDMENTS AND SUPPLEMENTS TO THE REGULATION ON ESTABLISHMENT AND OPERATION OF REPRESENTATIVE OFFICES OF FOREIGN ECONOMIC ORGANIZATIONS IN VIETNAM ISSUED AS APPENDIX TO DECREE No. 82-CP ON THE 2nd OF AUGUST, 1994

THE GOVERNMENT

Pursuant to the Law on Organization of the Government on the 30th of September, 1992;
Pursuant to the Ordinance on the State Bank on the 23rd of May, 1990;
At the proposal of the Governor of the State Bank,

DECREES:

Article 1.- Article 4 of the Regulation on Establishment and Operation of Representative Offices of Foreign Economic Organizations in Vietnam which was issued as appendix to Decree No 82-CP on the 2nd of August 1994 of the Government, is amended and supplemented as follows:

The Ministry of Trade is responsible for issuing, extending, supplementing, withdrawing or revoking licenses for foreign economic organizations (except for credit and banking organization) to set up their representative offices in Vietnam.

The State Bank is responsible for issuing, extending, supplementing, withdrawing or revoking licenses for credit and banking organizations to set up their representative offices in Vietnam; and shall exercise State administrative management over all activities of these representative offices.

Article 2.- On the basis of the Regulation on Establishment and Operation of Representative Offices of Foreign Economic Organizations in Vietnam which was issued as appendix to Decree No. 82-CP on the 2nd of August, 1994 of the Government, the State Bank, in coordination with the Ministry of Trade, shall guide the implementation of the Regulation attached to Decree No. 82-CP and the amendments and supplements in this Decree with regard to representative offices of foreign credit and banking organizations in Vietnam.

Article 3.- This Decree takes effect as from the date of its signing. The previous provisions which are contrary to this Decree are now annulled.

Article 4.- The Governor of the State Bank, the Minister of Trade and the other Ministers, the Heads of ministerial-level agencies, the Heads of the agencies attached to the Government, and the Presidents of the People's Committees of the province and cities directly under the Central Government have the responsibility to implement this Decree.