New Vietnamese Government Decree Encourages Non-cash Payments

Jan 28, 2014 (Tue): Effective from 1 March 2014, organizations and individuals in Vietnam using public funds will be prohibited under a new Government decree from making payments in cash unless permitted or required by the Ministry of Finance and the State Bank of Vietnam, Vietnam News reports.

All financial transactions including capital contribution, sale and purchase of shares, and lending and borrowing between enterprises are not permitted to use cash-payments under the new decree.