Vietnam Allows FDI Firms to Select Accounting Currency Unit

3:28:10 PM | 20/1/2010

The Ministry of Finance has allowed foreign direct investment (FDI) firms in Vietnam to select currency unit in their accounting activities.

This is among the contents of the revised corporate accounting mechanism recently announced by the MOF.

The accounting currency unit must be mainly used in FDI companies’ banking transactions, services and their selling prices quotations.

They are also allowed to use the selected currency unit in their revenue and salary for workers calculation as well as payment of material costs.

Last year Vietnam attracted US$21.48 billion in FDI amid the global economic downturn, down roughly 70% from a year earlier. (Investment)

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