HÀ NỘI — The Ministry of Finance has issued a circular officially repealing earlier regulations on self-borrowing and self-payment loans by State-owned enterprises (SOEs) in which the State holds more than 50 per cent of charter capital.

Circular 76/2025/TT-BTC, which takes effect on September 5, annuls two key documents: Circular 153/2014/TT-BTC dated October 20, 2014, which issued regulations on the review and approval process for foreign loans under the self-borrowing and self-payment mechanism; and Circular 09/2022/TT-BTC dated February 14, 2022, which amended several provisions of the 2014 circular.

The decision reflects recent changes in Việt Nam’s legal framework on enterprise autonomy, foreign borrowing and the management of State capital in business operations. The repeal is based on updated laws including the 2025 Law on Promulgation of Legal Documents, the 2025 amended Enterprise Law and the Law on Management and Use of State Capital.

Under the self-borrowing and self-payment mechanism, SOEs could independently negotiate and take on loans – particularly foreign loans – without Government guarantees, but still had to go through a review and approval process with the Ministry of Finance. With the repeal of these circulars, this process will no longer be governed by the former regulations.

Relevant units within the Ministry of Finance, along with State agencies and affected enterprises, are now responsible for ensuring compliance with the new legal framework. — VNS