VIETNAM PRESS-Vietnam to limit corporate cash use from March - Vietnam News

Wed Jan 15, 2014 8:47pm EST

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State-owned enterprises will have to switch to non-cash payments from March, according to a decree issued by the Vietnamese government last month, the Vietnam News reported.

Cash will not be permitted for any financial transactions including capital contribution, share trading, lending and borrowing between companies, the report said. Vietnam began a project aimed at limiting cash use in 2006, envisaging that by 2015 cash transactions in the economy will be below 11 percent.

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NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Hanoi Newsroom; Editing by Subhranshu Sahu)

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