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PRIME MINISTER OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 17/2023/QD-TTg
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Hanoi, June 5, 2023
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DECISION
AMENDMENTS TO DECISION NO. 31/2007/QD-TTG DATED MARCH 5,
2007 OF THE PRIME MINISTER OF VIETNAM ON CREDIT FOR HOUSEHOLD BUSINESSES AND
PRODUCTION IN DISADVANTAGED AREAS AND DECISION NO. 92/2009/QD-TTG DATED JULY 8,
2009 OF THE PRIME MINISTER OF VIETNAM ON CREDIT FOR MERCHANTS ENGAGING IN
COMMERCIAL ACTIVITIES IN DISADVANTAGED AREAS
Pursuant to the Law on
Organization of the Government of Vietnam dated June 19, 2015; the Law on
Amendments to the Law on Organization of the Government of Vietnam and the Law
on Organization of the Local Government of Vietnam dated November 22, 2019;
Pursuant to the Law on
the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on
Credit Institutions dated June 16, 2010; the Law on Amendments to the Law on
Credit Institutions dated November 20, 2017;
Pursuant to the
Government's Decree No. 78/2002/ND-CP dated October 4, 2002 on credit for poor
people and other policy beneficiaries;
At the request of the
Minister of Finance of Vietnam;
The Prime Minister of
Vietnam hereby promulgates the Decision on amendments to Decision No. 31/2007/QD-TTg
dated March 5, 2007 of the prime minister of Vietnam on credit for household
businesses and production in disadvantaged areas and Decision No.
92/2009/QD-TTg dated July 8, 2009 of the prime minister of Vietnam on credit
for merchants engaging in commercial activities in disadvantaged areas.
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1. Amendments to Article
2:
“Article 2.
Disadvantaged areas
1. Disadvantaged areas
eligible for policies on credit for household businesses and production
according to this Decision include:
a) Communes, wards, and
commune-level towns (hereinafter referred to as “communes”) included in the
list of administrative divisions of communes in disadvantaged areas promulgated
by the Prime Minister of Vietnam for each period;
b) Island districts
with no commune-level administrative divisions included in the list of
extremely disadvantaged communes of river islet areas, coastal areas, and
islands promulgated by the Prime Minister of Vietnam for each period;
c) Villages not subject
to communes prescribed in Point a of this Clause but are included in the list
of extremely disadvantaged villages of ethnic minority areas and mountainous
areas promulgated by competent authorities for each period.
2. Administrative
divisions established based on the full or partial division or merger of
administrative divisions included in the list prescribed in Clause 1 of this
Article may also receive benefits from credit policies under this Decision.”
2. Amendments to Article
3:
“Article 3. Entities
eligible for loans
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3. Clause 4 and Clause 5
are added to Article 4:
“4. Borrowers that are
not poor households, near-poor households, and households escaped from poverty
under the Decisions of the Prime Minister of Vietnam
5. Borrowers with no outstanding
debts at the Vietnam Bank for Social Policies regarding:
a) Program on loans for
creation, maintenance, and expansion of employment according to laws on laws on
employment creation support policies and the National Employment Fund;
b) Program on loans for
investment in and support for the development of precious medicinal herb
cultivating areas according to laws on policies on preferential credit for the
implementation of the National Objective Program on Socio-Economic Development
of Ethnic Minority Areas and Mountainous Areas during 2021-2030, stage 1: from
2021 to 2025 and amendment documents (if any).
c) Other credit programs
for loans for households for production and business as prescribed by laws (if
any).”
4. Amendments to Article
7:
“Article 7. Loan
amount
The maximum loan is 100
million VND per borrower.”
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“Article 8. Loan
interest
1. The loan interest rate
is 9% per year.
2. The overdue debt
interest rate is 130% of the loan interest.
3. Adjustments to loan
interest rates shall be decided by the Prime Minister of Vietnam in each period
based on proposals of the Administrative Council of the Vietnam Bank for Social
Policies.
4. The loan interest rate
shall ensure the principle of offsetting the average interest rate of capital
sources and management costs of this Program. The average interest rate of
capital sources and management costs shall be determined according to
guidelines for financial management of the Ministry of Finance of Vietnam for
the Vietnam Bank for Social Policies.”
6. Amendments to Article
10:
“Article 10. Loan
security
Borrowers are not
obligated to perform loan security.”
7. Amendments to Article
12:
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Risk handling shall be
performed in compliance with laws on handling risky debts at the Vietnam Bank
for Social Policies.”
8. Clause 3 is added to
Article 13:
“3. The Administrative
Council of the Vietnam Bank for Social Policies shall provide presentations for
the Prime Minister of Vietnam for decisions on adjustments to loan interest
rates for each period.”
9. Amendments to Point a
Clause 2 Article 16:
“a) Perform state
financial management under its jurisdiction;”
Article
2. Amendments to Decision No. 92/2009/QD-TTg dated July 8, 2009 of the Prime
Minister of Vietnam on credits for merchants engaging in commercial activities
in disadvantaged areas
1. Amendments to Article
2:
“Article 2.
Disadvantaged areas
1. Disadvantaged areas
eligible for policies on credit for merchants according to this Decision
include:
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b) Island districts
with no commune-level administrative divisions included in the list of
extremely disadvantaged communes of river islet areas, coastal areas, and
islands promulgated by the Prime Minister of Vietnam for each period;
c) Villages not subject
to communes prescribed in Point a of this Clause but are included in the list
of extremely disadvantaged villages of ethnic minority areas and mountainous
areas promulgated by competent authorities for each period.
2. Administrative
divisions established based on the full or partial division or merger of
administrative divisions included in the list prescribed in Clause 1 of this
Article may also receive benefits from credit policies under this Decision.”
2. Amendments to Article
8:
“Article 8. Loan
amount
1. For merchants who are
individuals: the maximum loan is 100 million VND per borrower.
2. For merchants that are
economic organizations legally established under laws: the maximum loan is 1
billion VND per organization.”
3. Amendments to Article
12:
“Article 12. Loan
security
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2. Merchants borrowing
more than 100 million VND shall perform the loan security under laws on
assurance of obligation fulfillment and regulations of the Vietnam Bank for
Social Policies.”
4. Amendments to Point a
Clause 2 Article 16:
“a) Perform state
financial management under its jurisdiction;”
Article
3. Transitional provision
1. Regarding credit contracts
concluded before the effective date of this Decision, related parties shall
continue to perform the contents prescribed in such contracts.
2. In case borrowers with
loans at the Vietnam Bank for Social Policies are no longer in disadvantaged
areas according to this Decision, they shall continue to perform commitments,
entitlements, and responsibilities prescribed in credit contracts concluded
with the Vietnam Bank for Social Policies until such contracts expire.
Article
4. Implementation provision
1. This Decision comes
into force as of August 8, 2023.
2. Ministers, directors
of ministerial agencies, directors of governmental agencies, Chairpersons of
People’s Committees of provinces and centrally affiliated cities, Chairperson
of the Administrative Council, and General Director of the Vietnam Bank for
Social Policies shall implement this Decision.
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PP. PRIME MINISTER
DEPUTY PRIME MINISTER
Le Minh Khai