[Vnbiz] Minister of Fianance & State Bank Governor answering investors

[Tran Dinh Hoanh]

Dear anh Shane,

Sorry you get stuck.  If my memory is correctly, some years ago, there were
different kinds of checking & saving accounts in Vienamese banks.  Say, if
you deposited USD and stated (when you opened your account) that you wanted
to withdraw either in USD or VND, they would set it up that way.  (If you
deposited VND, I don't think you had any option).  That is my understand of
things quite a few years ago.  If you can check on this point and tell me
what exactly is the rule now, that would be great.  How did you set up your
account, BTW?

Have a great day!

Hoanh

2008/6/20 Shane Wall <shane.wall at translingualexpress.com>:

> [ Vietnam Business Forum ]
>
> Hi CACC,
>   I am not sure of what might be happening at the macro/policy level,
> but I do know that ACB will not allow me to withdraw USD in order for me
> to make payments to translators (resident in HCMC) where my contract
> with the translator stipulates payment in USD!
>
>   We showed them the contract but the response was "it is against the
> law". So I must either withdraw VND (at the ridiculously low and
> artificial "official" rate) and make a loss or break my contract and pay
> in VND.
>
>   Yeah. Vietnam. Great place to do business. NOT!!!!!
>
> Shane
> ----------------------------------------------------------------------
> Mr. Shane Wall
> Managing Director
>
> Trans Lingual Express
> 188/16 Nguyen Thuong Hien St,
> P.1, Q. Go Vap, HCMC,
> Vietnam
>
> Mail: shane.wall at translingualexpress.com
> Web: www.translingualexpress.com
>
> Ph: +84 (8) 588 1701
>
> Mbl: +84 (090) 9484 753 (English)
> Mbl: +84 (090) 7885 375 (Vietnamese)
>
>
>
> --
> Tran Dinh Hoanh, Esq., LLB, JD
> Washington DC
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