On September 10th, 2018, the Governor of the State Bank of Vietnam (SBV) issued document No. 6816/NHNN-TTGSNH approving in principle the establishment of Ho Chi Minh City branch of Vietnam Asset Management Company (VAMC).

The document clearly states that VAMC is responsible for carrying out legal procedures related to the establishment and operation registration of Ho Chi Minh City branch in accordance with the law.
At the same time, VAMC is required to comply with the relevant legal provisions and SBV's guidance on the organization, operation, management and supervision mechanism of the head office for branches to ensure safety, efficiency, security of assets, valuable papers.
Along with that, VAMC needs to complete regulations on the standards, personnel to ensure professional ability to operate and manage its branch.
On the other hand, VAMC is requested to study and add some other contents about expected operating expenses, expected volume of works that Ho Chi Minh City branch will be assigned, and quantify the contribution to the completion of tasks of VAMC ....
The Document will cease to be effective if the VAMC does not inaugurate the above – mentioned branch within 12 months from the date of signing./.
Source: sbv.gov.vn