The Circular provides for lending by credit institutions and foreign bank branches for outward investment in the investment forms specified in points a, b, c and dd clause 1 Article 39 of the Law on Investment.

1. Commercial banks; non-bank credit institutions; foreign bank branches (hereinafter referred to as “credit institutions”).

2. Customers that are investors prescribed by the Law on Investment and in guiding documents (excluding credit institutions)

3. Relevant organizations and individuals.

Credit institutions shall grant loans to customers for outward investment as prescribed in this Circular. Other matters not governed by this Circular shall comply with regulations of the State Bank of Vietnam on lending by credit institutions, foreign exchange management, internal control, anti-money laundering, statistical reporting, prudential ratios and limits for operations of credit institutions, classification and establishment of provisions and risk management and other relevant legislative documents.

A credit institution shall consider granting a loan to a customer who has a demand for:

1. Contributing capital to establish an economic organization in accordance with the law of the host country.

2. Making outward investment in the form of an overseas contract.

3. Contributing capital, purchasing shares or contributed capital of an economic organization in a foreign country to participate in management of such economic organization.

4. Borrowing capital for making investment in other forms in accordance with the law of the host country.

A credit institution shall consider deciding to offer a loan to a customer for outward investment if he/she meets the following eligibility requirements:

1.  The customer is a juridical person and has the full civil act capacity in accordance with regulations of law. The customer is an individual aged 18 or older, has the full civil act capacity in accordance with regulation of law and is eligible for outward investment in accordance with the law on investment.

2. He/she/it has been issued with the outward investment registration certificate and has its/his/her registration of foreign exchange transactions related to outward investment certified in accordance with the law on foreign exchange (regarding projects not required to follow procedures for issuance of an outward investment registration certificate).

3. Its/his/her investment is permitted or approved by a competent authority of the host country. If the host country’s law does not cover investment permission or approval, the investor shall provide documents proving his/her right to make investment in that country.

4. There is an outward investment project appraised to be feasible by the credit institution and the customer is capable of repaying the credit institution.

5. The customer has not incurred any bad debts for 02 consecutive years by the time of applying for loans.

When there is a demand for a loan, a customer must send a credit institution documents proving its eligibility for such loan in accordance with Article 5 hereof and others as referred to in the credit institution's instructions.

1. The loan limit must be agreed by a credit institution with a customer on the basis of the demand for loan, outward investment plan, financial capability of a borrowing customer, credit lines extended to the borrowing customer and available capital source of the credit institution.

2. The maximum loan limit as committed in a loan contract/agreement reached by a credit institution for an outward investment project shall not exceed 70% of the customer's outward investment in that project. Where a customer borrows capital from multiple credit institutions for the same outward investment project, total loan as committed in loan contracts/agreements reached by all such credit institutions for the customer shall not exceed 70% of the customer's outward investment in that project.

The credit institution and the customer shall agree on the loan term as appropriate to the customer’s solvency, the credit institution’s capability to provide long and medium term capital, investment term, remaining effective period of the outward investment registration certificate (regarding projects required to follow procedures for issuance of the outward investment registration certificate) or other equivalent documents.

1. Credit institutions and their customers shall agree on currency units used for extending loans in accordance with regulations on lending by credit institutions and relevant regulations of law.

2. Currency unit used for debt repayment is the one used in a loan. In case other currency units are used to repay debts, it is required to adhere to the agreement between credit institutions and their customer in accordance with relevant regulations of law.

1. The loan security shall comply with regulations on regulations on lending by credit institutions and relevant regulations of law.

2. The use of overseas assets as collateral shall be agreed upon by parties according to the rules for applying law to civil relations involving foreign elements under regulations in Part 5 of the Civil Code.

1. Credit institutions have the right and obligations to inspect and supervise the use of loans and debt repayment by their customers as prescribed by law.

2. Credit institutions are entitled to request their customers to submit reports on operations and use of loans or provide documents evidencing the use of loans for the intended purposes.

3. The customer shall use the loan for the intended purposes as committed, and fully and punctually repay the principal, interest, and fees as agreed; report on its operations and loan usage, and provide evidence, documents, and data proving that the loan is used for the intended purposes as requested by the credit institution.

1. The Credit Department shall:

a) Be in charge of monitoring, supervising and reviewing the lending by credit institutions for outward investment;

b) Take charge of and cooperate with relevant units of  the State Bank in addressing issues related to lending by credit institutions for outward investment within the scope of this Circular.

2. The State Bank’s Inspectorate shall inspect the lending by credit institutions for outward investment in accordance with this Circular and relevant legal documents; and handle any arising violations within its jurisdiction and according to the law.

3. The Credit Institution Management and Supervision Department shall supervise credit institutions' implementation of this Circular within its functions and tasks.

4. The Anti-Money Laundering Department shall supervise and inspect credit institutions’ compliance with regulations on anti-money laundering related to lending for outward investment.

5. The Foreign Exchange Management Department shall take charge of, and cooperate with relevant units of the State Bank of Vietnam in, handling foreign exchange management issues related to lending for outward investment.

6. The Monetary Policy Department shall take charge of, and cooperate with relevant units of the State Bank of Vietnam in, handling arising issues related to lending for outward investment in foreign currencies.

7. Regional branches of the State Bank of Vietnam shall be responsible for inspecting, examining, and supervising credit institutions’ implementation of this Circular within their respective territories under their jurisdiction.

1. This Circular takes effect from August 18, 2026.

2. This Circular annuls the Circular No. 36/2018/TT-NHNN on lending by credit institutions and foreign bank branches for outward investments.

3. With respect to loan contracts/agreements signed prior to the effective date of this Circular, credit institutions and customers are permitted to continue granting loans under such contracts/agreements until their effective dates.  Any amendment to a loan contract or agreement shall comply with regulations of this Circular.

Heads of units affiliated to the State Bank of Vietnam, credit institutions, and foreign bank branches shall be responsible for organizing the implementation of this Circular./.