Ho Chi Minh City implements interest rate support for loans to projects in priority areas

The Ho Chi Minh City People's Committee has just issued Decision 42/2024/QD-UBND on implementing the interest rate support policy for projects lent by the Ho Chi Minh City State Financial Investment Company in priority areas of socio-economic development in the city.

Enterprises in 4 key industries of Ho Chi Minh City will be eligible for loan interest rate support.

Accordingly, the maximum loan amount of projects in the priority areas of socio-economic development of the city will be supported by the budget with interest rates of 200 billion VND/project (excluding deductible value added tax). Of which, the construction investment capital (referring to the investment rate issued by the Ministry of Construction or other methods of calculating the total investment in accordance with regulations) is supported up to 70%, the technology and equipment investment capital (calculated in accordance with regulations) is supported up to 85%.

Particularly, projects in the fields of education, training, vocational training, health, culture and 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 and 100% of the investment capital for technology and equipment. In addition, for preschool and general education projects invested by public service units of the city, interest rates are supported for loans of up to 100% of the total investment of the project.

According to this decision, the city stipulates that the interest rate support period for projects shall not exceed 7 years, from the date the project is approved by the City People's Committee for support and after the first disbursement of loan capital at the Ho Chi Minh City State Financial Investment Company. The city will arrange sufficient and timely budget funds for the City State Treasury to disburse interest rate support for investors.

Enterprises in 4 key industries of Ho Chi Minh City will be eligible for loan interest rate support.

Regarding this issue, Mr. Nguyen Quang Thanh, Deputy General Director of the Ho Chi Minh City State Financial Investment Company, said that businesses in need of loans will have their projects considered by the company to determine which priority areas the city is in.

Then, depending on the type of project, carry out procedures and submit documents to the focal agencies such as the Department of Planning and Investment (if the project is in the field of high technology, digital transformation; start-up, innovation; trade and agricultural production services; healthcare, education - training, vocational education, culture and sports; economic infrastructure, engineering and environment) or the Department of Industry and Trade (if the project is in 4 key industries including mechanics, electronics - information technology, pharmaceuticals - rubber and plastic, food processing - foodstuffs). and supporting industry sector) or interdisciplinary teams established by decision of Ho Chi Minh City People's Committee. The focal agencies receiving the dossiers are responsible for submitting to the city leaders for approval of projects receiving interest rate support.

The city also requires relevant units to ensure that loan interest support is implemented publicly, transparently, to the right subjects and for the right purposes.

In particular, it is not allowed to create administrative procedures for investors and create favorable conditions for investors to register for interest rate support.

AI VAN

Source: https://www.sggp.org.vn/tphcm-trien-khai-ho-tro-lai-suat-vay-von-du-an-thuoc-linh-vuc-uu-tien-post751774.html