VCI Legal – January 10, 2026

Government of Vietnam issued Decree No. 329/2025/ND-CP, providing regulations on foreign exchange management, anti-money laundering (AML), counter-terrorism financing (CTF), and counter-proliferation financing within the International Financial Centre (IFC) of Vietnam. This Decree establishes a specialised financial-security and monetary regulatory framework, aligned with international standards, governing banking operations and cross-border financial transactions conducted within the IFC.

Scope of Application

The Decree applies to commercial banks, foreign bank branches, financial institutions, investors, and parties engaging in foreign exchange transactions within the International Financial Centre, as well as relevant supervisory and regulatory authorities. Its provisions are designed as a dedicated regulatory regime applicable specifically to the IFC, operating in parallel with Vietnam’s general legal framework on monetary policy, banking, and anti-money laundering.

Key Regulatory Focus

First, Decree No. 329/2025/ND-CP establishes transparent and controlled principles for foreign exchange management, requiring cross-border transfers, payments, and capital flows into and out of the IFC to clearly specify transaction purposes and to be subject to monitoring and record-keeping by member banks. This approach aims to facilitate legitimate capital movements while ensuring effective oversight of financial risks.

Second, the Decree strengthens the AML and CTF framework, imposing customer due diligence, suspicious transaction reporting, and cooperation obligations on financial institutions operating within the IFC. These requirements are designed to align closely with international best practices, particularly in light of the IFC’s objective to attract global financial institutions and cross-border investment activities.

In addition, the Decree clarifies licensing, supervision, and inspection mechanisms for banking and foreign exchange activities within the IFC, delineating the roles of the State Bank of Vietnam and the IFC’s governing bodies in safeguarding system stability and addressing regulatory breaches.

Legal Assessment

Decree No. 329/2025/ND-CP completes the financial safety and monetary governance pillar of the legal ecosystem for Vietnam’s International Financial Centre, complementing the regulatory frameworks on land and environmental matters (Decree No. 326) and immigration and residency for foreign nationals (Decree No. 327). Its issuance reflects Vietnam’s consistent policy direction to develop the IFC not merely as a destination for capital inflows, but as a financial hub characterised by high levels of transparency, legal certainty, and regulatory predictability.

For foreign investors and international businesses, the Decree helps mitigate legal and compliance risks associated with foreign exchange and regulatory obligations, while reinforcing confidence that complex and high-value financial transactions conducted within the IFC will operate under a stable, internationally aligned, and well-protected legal framework.

About VCI Legal:

VCI Legal is an award-winning business law firm in Vietnam with a wide range of legal and corporate services, among other things, corporate, banking & finance, tax, labor & HR, real estate and dispute resolution with special focus on international investment disputes, We also offer our specialized type of service called “In-House Counsel Service” with the aim of assisting our clients in dealing with all types of internal and external issues arising from their day-to-day operations and business activities. With our offices in both Hanoi and Ho Chi Minh City, we have a tremendous depth of experience in providing well-reasoned and comprehensive legal advice to not only multinationals and Fortune 500 companies, but also small and medium enterprises.

Our professional team comprises one of the leading law firms in Vietnam with service quality highly recommended and acknowledged by international legal service reviewers such as: The Legal 500, AsiaLaw Profiles, IFLR, KPMG’s Tax Directors’ Handbook, Acquisition International, ACQ Global, Global Law Experts, Finance Monthly, and Chambers & Partners.

For many years, VCI Legal has been ranked among the top law firms in Vietnam for corporate, finance, insurance, taxation, employment, intellectual property and investment. With a “Can Do Attitude” combined with a “Know How” capacity, our firm is big enough to provide comprehensive legal support for any in-house legal matters, yet small enough to care about each of our clients. We undertake each engagement with the mindset of a long-term relationship, with the will to give whatever it takes to understand and fulfill your needs.

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