When it comes to remittances and other general taxation restrictions, businesses should look to the Ministry of Finance (MOF) and the State Bank of Vietnam (SBV). The MOF is in charge of adjusting tax rates and regulating remittances while the SBV handles the regulation of banking and foreign exchange within the country. This means that SBV oversees the licensing of banks to establish operations within Vietnam and set standards when it comes to the requirements needed to open bank accounts. The SBV also oversees the issuing of the official exchange rate between the VND and other international currencies.