Ho Chi Minh City has restarted its interest rate support loan program, with the expectation of creating new momentum for businesses during the current period of gradual economic recovery.
On August 27, Mr. Nguyen Quang Thanh, Deputy General Director of Ho Chi Minh City State Financial Investment Company (HFIC) said that the Ho Chi Minh City People's Committee has just issued Decision No. 42 on implementing the interest rate support policy for investment projects, HFIC lends in priority areas of socio-economic development in Ho Chi Minh City according to Resolution No. 09 of the Ho Chi Minh City People's Council. The decision takes effect from July 29, 2024.
According to Decision 42, the interest rate support policy for projects HFIC lends to in priority areas such as: High technology, digital transformation; start-up, innovation; trade, serving agricultural production; healthcare, education - training, vocational education, culture - sports; economic, technical and environmental infrastructure and 4 key industries, supporting industries.
Domestic enterprises, economic organizations or public service units with projects in priority areas for socio-economic development in the area will have the opportunity to receive loan interest support from 50% - 100%. The maximum loan amount supported with interest is 200 billion VND/project (excluding deductible value added tax). The interest support period shall not exceed 7 years from the date the project is approved by the City People's Committee and after the first loan disbursement at HFIC. Of which, the investment capital for construction works is supported with a maximum interest rate of 70%, the investment capital for technology and equipment is supported with a maximum of 85%.
Projects in the fields of health, education - training, vocational training, culture - sports invested by public service units of the city are supported with interest rates of up to 100% of the investment capital for construction works, 100% of the investment capital for technology and equipment. In addition, preschool and general education projects invested by public service units of the city are supported with interest rates for loans of up to 100% of the total investment of the project.
"Instead of waiting for businesses to contact us for loans before assessing the application, right after Resolution 98 was issued, HFIC coordinated with departments, branches and units to organize many activities to introduce the program to beneficiaries; proactively inviting businesses to participate. Up to now, the legal basis for the program is complete, the parties continue to coordinate closely to implement the program", said Mr. Nguyen Quang Thanh.
From now until the end of the year, HFIC will continue to coordinate with the Department of Industry and Trade, the Management Board of Export Processing and Industrial Zones, Ho Chi Minh City High-Tech Park, etc. to deploy information and guide businesses with projects suitable for the city's priority development sectors, 4 key industries, and supporting industries to participate in the program. In addition, HFIC will also coordinate with the Ho Chi Minh City Business Association and Thu Duc City to organize a conference to ensure coverage of the program to all businesses in Ho Chi Minh City's priority sectors. If they meet the conditions, they will be considered for loans under the program in the fourth quarter of 2024.
Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, said that in the first 7 months of the year, Ho Chi Minh City has supported businesses with an amount of over 350,000 billion VND for more than 100,000 customers; at the same time, implementing loan programs for market stabilization, social housing loan programs, housing for workers, renovating and rebuilding old apartments according to Resolution 33/NQ-CP of the Government; supporting customers in difficulty by debt restructuring mechanism and maintaining the debt group.
In addition, the tax sector also issued a series of documents implementing tax and fee exemption and reduction policies in 2024 to support business recovery. According to Mr. Vo Tien Dung, Deputy Head of the Taxpayer Support and Propaganda Department of Ho Chi Minh City Tax Department, these are Decree No. 94/2023/ND-CP regulating the policy of reducing value added tax; Decree No. 64/2024/ND-CP extending the deadline for payment of value added tax, corporate income tax, personal income tax and land rent in 2024; Decree No. 65/2024/ND-CP extending the deadline for payment of special consumption tax on domestically manufactured or assembled automobiles; Decree No. 72/2024/ND-CP regulating the policy of reducing value added tax...
According to VNA
Source: https://doanhnghiepvn.vn/doanh-nhan/tp-ho-chi-minh-tai-khoi-dong-cac-goi-ho-tro-lai-suat-giup-doanh-nghiep-phuc-hoi/20240827031000762
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