THE
GOVERNMENT
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
151/2006/ND-CP
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Hanoi,
December 20, 2006
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DECREE
ON THE STATE'S INVESTMENT CREDIT AND EXPORT CREDIT
THE GOVERNMENT
Pursuant to the December 25, 2001 Law on
Organization of the Government;
Pursuant to the December 16, 2002 State Budget Law;
Pursuant to the November 29, 2005 Investment Law;
Pursuant to the February 12, 1997 Law on Credit Institutions and the May 16,
2004 Law Amending and Supplementing a Number of Articles of the Law on Credit
Institutions;
At the proposal of the Minister of Finance,
DECREES:
Chapter I
GENERAL PROVISIONS
Article 1.- Governing
scope and subjects
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a/ Investment credit, including investment
loans, investment credit guarantees and post-investment supports;
b/ Export credit, including export loans (for
exporters and importers), export credit guarantees, bid-participation
guarantees and contract-performance guarantees.
2. Governing subjects:
a/ Enterprises and economic organizations which
have projects entitled to investment loans, investment credit guarantees or
post-investment supports (hereinafter called investors);
b/ Domestic enterprises and economic organizations
having export contracts or foreign organizations importing goods which are
entitled to borrow capital and enjoy export credit guarantees;
c/ The Vietnam Development Bank and other
organizations and individuals involved in the process of materializing the
State's investment credit and export credit.
Article 2.- Investment
and export credit principles
1. Loans and guarantees shall be provided to
investment projects and contracts on the import or export of goods made in
Vietnam with the direct recovery of capital.
2. If all the prescribed conditions are met, one
investment project may enjoy only one type of investment credit; one import or
export contract may enjoy only one type of export credit.
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4. Investors, importers or exporters that borrow
capital or are provided with guarantees or post-investment supports shall use
borrowed capital for proper purposes; repay both loan principals and interests
under the signed credit contracts; and fulfill the commitments in guarantee or
post-investment support contracts as well as the provisions of this Decree.
5. The list of projects entitled to investment
credit loans and the list of goods items eligible for export credit loans are
promulgated by the Government.
Article 3.-
Interpretation of terms
In this Decree, the terms below are construed as
follows:
1. "Exporters" mean Vietnamese
enterprises and economic organizations, which export goods made in Vietnam.
2. "Foreign importers" (hereinafter
called importers for short) mean foreign organizations, which buy goods made in
Vietnam.
3. "Lending term" means the period of
time from the first capital withdrawal to the full repayment of a loan under a
credit contract.
4. "Grace period" means the period of
time for execution of a project or performance of an import or export contract
in which the investor, the importer or the exporter needs not repay the loan
principal but pay the loan interest.
5. "Debt-payment time limit" means the
period of time from the first-time payment of a debt to the full payment of
that debt under a credit contract.
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7. "Lending" means that the Vietnam
Development Bank lends capital to investors, importers or exporters for
execution of investment projects or performance of import or export contracts.
8. "Guarantor" means the Vietnam
Development Bank.
9. "Guaranteed" means the investor or
exporter provided with guarantee by the Vietnam Development Bank.
10. "Guarantee" means an organization
which grants loan to the investor or exporter or means bid solicitor for an
export contract.
11. "Loan guarantee" means the Vietnam
Development Bank's commitment with a capital-lending organization to pay debt
for an investor, importer or exporter in case the latter cannot pay or fully
pay a debt to the guarantee.
12. "Bid-participation guarantee"
means the Vietnam Development Bank's commitment with a bid solicitor to secure
an exporter's obligation to participate in bidding. In case the exporter has to
pay fine for the violation of bidding regulations but cannot pay or fully pay
it to the bid solicitor, the Vietnam Development Bank shall fulfill this
obligation on behalf of the exporter.
13. "Contract-performance guarantee"
means the Vietnam Development Bank's commitment with a guarantee to secure the
proper and complete performance of an exporter's obligations under a contract
signed with the guarantee. In case the exporter breaches the contract and has
to pay compensation to the guarantee but fails to perform or fully perform this
obligation, the Vietnam Development Bank shall perform this obligation on
behalf of the exporter.
14. "Post-investment support" means
partial interest-rate support provided by the State to investors who borrow
capital from credit institutions for investment in projects after the projects
have been completed and put to use and the debts have been paid.
Article 4.- State
investment credit and export credit plans
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a/ Total state investment credit and export
credit levels;
b/ Capital sources for materialization of the
state investment credit and export credit;
c/ State budget allocations to offset the
interest rate difference and post-investment supports.
2. The Vietnam Development Bank shall report to
the Ministry of Planning and Investment, the Ministry of Finance and the
Vietnam State Bank on the annual and long-term state investment credit and
export credit plans for sum-up and inclusion into socio-economic development
plans.
Chapter II
THE STATE'S INVESTMENT
CREDIT
Section 1. INVESTMENT LOANS
Article 5.- Types of
investment loan
1. Loans for domestic investment projects.
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Article 6.- Borrowers
Borrowers are investors who have investment
projects on the list of those entitled to investment credit loans promulgated
together with this Decree.
Article 7.- Lending
conditions
1. Being subjects defined in Article 6 of this
Decree.
2. Carrying out investment procedures in
accordance with law.
3. Investors having full legal capacity and
civil act capacity.
4. Investors having production or business
projects or schemes, ensuring the payment of debts; having financial plans and
loan-repayment plans evaluated by the Vietnam Development Bank which agrees to
provide loans.
5. Investors ensuring enough capital sources for
execution of projects and satisfaction of specific financial conditions of
investment capital portions besides the state's investment credit loan capital.
6. Investors securing loan money in accordance
with the provisions of this Decree.
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8. For offshore investment projects under an
agreement between two governments and those under decisions of the Prime
Minister, the provisions of Article 11 of this Decree must be complied with.
Article 8.- Loan capital
levels
1. The loan capital level for a project shall be
at most equal to 70% of the total investment capital level of that project
(excluding liquidity capital).
2. The loan capital level for each project shall
be decided by the Vietnam Development Bank in accordance with Clause 1 of this
Article.
3. In special cases, if a project needs a loan
capital level exceeding 70% of its total investment capital level (excluding
liquidity capital) in order to satisfy the execution conditions, the Vietnam
Development Bank shall request the Ministry of Finance to submit it to the
Prime Minister for consideration and decision.
Article 9.- Lending term
1. The lending term shall be determined based on
the capital recovery capability of a project and the loan-repayment capability
of the investor in compatibility with the project's production and business
characteristics but must not exceed 12 years.
2. For some particular projects (group-A
projects on pine or rubber tree planting), which require a lending term of over
12 years in order to satisfy the execution conditions, the lending term may be
15 years at most.
3. The Vietnam Development Bank shall decide on
the lending term for each project in accordance with the provisions of Clauses
1 and 2 of this Article.
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1. The lending currency is Vietnam dong.
Foreign-currency loans shall be provided in a freely convertible foreign
currency for a number of projects which need to import machinery and equipment
and of which the investors are capable of balancing foreign currencies to repay
loans.
2. The interest rate applicable to investment
loans in Vietnam dong shall be equal to the interest rate applicable to the
government bonds of a five-year term plus 0.5%/year.
3. For projects on the construction of
socio-economic infrastructures; projects on agricultural and rural development;
projects of investment in geographical areas hit by socio-economic difficulties
or exceptional difficulties; projects in the areas inhabited by Khmer ethnic
minority people, communes covered by Program 135, border communes covered by
Program 120, alluvium communes, the Vietnam dong-lending interest rate shall be
equal to that applicable to the government bonds of a five-year term.
4. The interest rate applicable to loans in
freely convertible foreign currencies shall be decided by the Finance Ministry
on the principle of giving preferences based on the 6-month Sibor plus a
certain percentage.
5. The lending interest rate shall be determined
at the time of signing a credit contract for the first time and shall be kept
unchanged throughout the lending term.
6. The interest rate applicable to an overdue
debt shall be equal to 150% of that applicable to undue debts as written in a
credit contract.
7. The Minister of Finance shall announce the
interest rate applicable to investment loans for application by the Vietnam
Development Bank. This interest rate shall be announced twice a year at most.
Article 11.- Providing
loans to projects under the Government's agreements and offshore investment
projects under the Prime Minister's decisions
1. The lending conditions, interest rate, term
and level as well as contents related to a loan for a project shall comply with
the terms stated in the concerned agreement.
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3. Offshore investment projects under the Prime
Minister's decisions comply with this Decree's provisions on investment loans.
Section 2. POST-INVESTMENT
SUPPORTS
Article 12.- Subjects
entitled to post-investment supports
Subjects entitled to post-investment supports
are investors having projects on the list of projects eligible for investment
credit capital, including:
1. Projects of investment in socio-economic
infrastructures.
2. Projects of investment in agricultural and
rural development.
3. Projects of investment in areas hit by
socio-economic difficulties or exceptional socio-economic difficulties; areas
inhabited by Khmer ethnic minority people, communes covered by Program 135,
border communes covered by Program 120 and alluvium communes.
Article 13.- Conditions
for post-investment supports
1. Projects entitled to post-investment supports
under the provisions of Article 12 of this Decree.
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3. Projects having been completed and put to use
and having repaid their loans.
Article 14.-
Post-investment support level
1. The post-investment support level is equal to
the difference between the investment loan interest rate of credit institutions
and 90% of the interest rate applicable to investment loans for subjects
defined in Article 10 of this Decree.
2. The Vietnam Development Bank provides
post-investment supports based on investors' debt-payment results.
Section 3. INVESTMENT CREDIT
GUARANTEES
Article 15.- Subjects
entitled to investment credit guarantees
Investors having projects eligible for
investment credit loans under the provisions of this Decree may be provided
with guarantees to borrow capital from other credit institutions if having
demand therefor.
Article 16.- Guarantee
conditions
1. Being subjects entitled to investment credit
guarantees under the provisions of Article 15 of this Decree.
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Article 17.- Guarantee
term
The guarantee term shall be determined in
accordance with the lending term under the credit contract between an investor
and a credit institution.
Article 18.- Guarantee
level and charge
1. The guarantee level shall match the loan
level but must not exceed the total investment capital of a project (excluding
liquidity capital).
2. Investors shall be provided with guarantees
free of charge.
Article 19.- Financial
liabilities when investors cannot pay debts
When an investor cannot pay a debt under the
signed credit contract:
1. Sixty days after the debt comes due, if the
investor cannot pay it, the concerned credit institution shall send a written
request to the Vietnam Development Bank for the latter to pay that debt on the
investorơ's behalf.
2. When receiving the written request for
payment of the overdue debt, which it has guaranteed, the Vietnam Development
Bank shall pay it on the investor's behalf.
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Chapter III
EXPORT CREDIT
Section 1. EXPORT LOANS
Article 20.- Types of
export loan
1. Loans provided to exporters, before or after
the goods delivery.
2. Loans provided to importers.
Article 21.- Borrowers
Exporters having contracts on the export, and
importers having contracts on the import, of goods on the list of goods
entitled to export credit capital promulgated together with this Decree.
Article 22.- Lending
conditions
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2. Exporters having signed export contracts.
Importers having signed import contracts with Vietnamese enterprises or
economic organizations.
3. Having efficient production and business
plans already evaluated by the Vietnam Development Bank which agrees to provide
loans.
4. Exporters or importers having full legal
capacity and civil act capacity.
5. Apart from the conditions specified in
Clauses 1, 2, 3 and 4 of this Article:
a/ Exporters are required to observe this
Decree's provisions on loan security; buy property insurance at an insurance
company lawfully operating in Vietnam for assets created from loan capital and
subject to compulsory insurance throughout the lending term;
b/ Importers need to be provided loan with
guarantees by the governments or the central banks of their countries.
Article 23.- Loan
capital level
1. The loan capital level shall be equal to 85% of
the value of a signed import or export contract or the L/C value for a loan
provided before goods delivery or the value of valid drafts for a loan provided
after goods delivery.
2. The loan capital level for each case shall be
decided by the Vietnam Development Bank in accordance with the provisions of
Clause 1 of this Article.
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1. The lending term shall be determined based on
the capital recovery capability suitable to the characteristics of each export
contract and the loan repayment capability of the exporter or importer but must
not exceed 12 months.
2. When a lending term of over 12 months is
needed for an exporter to satisfy the conditions to perform an export contract,
the Vietnam Development Bank shall request the Finance Ministry to consider and
decide it.
Article 25.- Lending
currency and interest rate
1. The lending currency is Vietnam dong (VND).
Foreign-currency loans shall be provided in freely convertible foreign
currencies for export contracts which require the import of raw materials,
provided that exporters have foreign-currency revenue sources to pay debts.
2. Interest rates applicable to export credit
loans in Vietnam dong or freely convertible foreign currencies shall be decided
by the Finance Ministry on the principle of compatibility with the market
interest rate.
3. The overdue debt interest rate shall be equal
to 150% of the due debt interest rate under the signed credit contracts.
4. The Minister of Finance shall announce
interest rates applicable to export credit loans for implementation by the
Vietnam Development Bank. These interest rates shall be announced twice a year
at most.
Article 26.- Capital
disbursement, debt recovery
The Vietnam Development Bank shall directly
disburse capital, recover debts or authorize financial and credit institutions
lawfully operating in the country or overseas to disburse capital and recover
debts.
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Article 27.- Subjects
entitled to export credit guarantees
Subjects entitled to export credit guarantees
are exporters that have contracts on the export of goods on the list of goods
entitled to export credit loans but do not borrow the State's export credit
capital.
Article 28.- Guarantee
conditions
1. Being subjects entitled to guarantees defined
in Article 27 of this Decree and having demand for guarantees to borrow capital
from other credit institutions.
2. Having full legal capacity and civil act
capacity.
3. Satisfying all the conditions specified in Clauses
2, 3, 4 and 5, Article 22 of this Decree.
Article 29.- Guarantee
term
The guarantee term shall correspond the lending
term under the credit contract signed between an exporter and a credit
institution but shall not exceed 12 months.
Article 30.- Guarantee
level and charge
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2. Exporters provided with guarantees shall pay
the guarantee charge equal to 1% of the guaranteed credit balance a year.
Article 31.- The
financial liability incurred when an exporter cannot pay debts shall comply
with the provisions of Article 19 of this Decree.
Section 3. BID-PARTICIPATION
GUARANTEE AND CONTRACT- PERFORMANCE GUARANTEE
Article 32.- Subjects
entitled to guarantees
Exporters that participate in biddings or
perform contracts on the export of goods on the list of goods entitled to
export credit loans.
Article 33.- Guarantee
conditions
1. Being subjects defined in Article 32 of this
Decree, having demand for bid-participation guarantee or export
contract-performance guarantee.
2. Having lawful papers evidencing the foreign
party's request for bid-participation guarantee or export contract-performance
guarantee.
3. Exporters provided with bid-participation
guarantee or export contract-performance guarantee must have financial
capability for participation in biddings or performance of export contracts
evaluated and approved by the Vietnam Development Bank.
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The bid-participation guarantee or export
contract-performance guarantee term shall correspond the term for performance
of obligations of an exporter.
Article 35.- Guarantee
level and charge
1. The guarantee level shall not exceed 3% of
the bidding price for bid-participation guarantee and 15% of the value of an
export contract for export contract-performance guarantee.
2. Exporters provided with guarantees shall pay
the guarantee charge of 0.5% of the guarantee value a year, which, however,
must not exceed VND 100 million per guarantee contract.
Article 36.- Financial
liability of exporters when the Vietnam Development Bank has to perform the
guarantee obligations toward foreign parties
Exporters provided with guarantees shall
compulsorily acknowledge debts with regard to the money amounts the Vietnam
Development Bank has paid to foreign parties and shall be subject to a fining
interest rate equal to 150% of the interest rate applicable to export credit
loans calculated over the acknowledged debt amounts.
Chapter IV
LOAN SECURITY, PAYMENT
OF DEBTS AND HANDLING OF INVESTMENT CREDIT AND EXPORT CREDIT RISKS
Article 37.- Loan
security
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2. When borrowing capital or being provided with
export credit guarantee, exporters are required to comply with current legal
provisions on loan security; are exempt from mortgaging assets for
bid-participation guarantee or export contract-performance guarantee.
3. Investors and exporters may not transfer,
sell, lease, lend, mortgage or pledge secured assets when having not yet fully
pay debts. When investors or exporters cannot pay debts or are dissolved or
bankrupt, the Vietnam Development Bank may apply measures to handle secured
assets in accordance with law to credit institutions in order to recover those
debts.
Article 38.- Payment of
debts
1. Investors, importers and exporters shall pay
debts to the Vietnam Development Bank in strict compliance with the signed credit
contracts.
2. Within the grace period, investors need not
to pay principals but need to pay interests under signed credit contracts.
3. Ten working days after a debt comes due, if
an investor, importer or exporter cannot pay the debt, the delayed principal
and interest amounts shall be subject to an overdue debt interest rate under
regulations.
4. When importers cannot pay or fully pay debts,
the Vietnam Development Bank shall recover those debts from guaranteeing
organizations of the importing countries in strict compliance with the
guarantee contracts.
Article 39.- Risks and
handling of risks
1. Risks to be considered for handling of
investment credit and export credit debts include:
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b/ Financial difficulties of state enterprises
must necessarily be handled upon the transformation of their ownership.
2. Risk-handling measures which may be
considered for application include adjusting the debt-payment time limit,
rescheduling, freezing or remitting debts (both principals and interests).
Article 40.-
Classification of debts, appropriation for setting up a risk provision
1. The Vietnam Development Bank shall classify
debts according to regulations of the State Bank of Vietnam.
2. The Vietnam Development Bank may set up a
risk provision to handle risks incurred from the failure to pay debts of
investors, importers or exporters.
3. The money amount appropriated for setting up
of the risk provision shall be accounted as professional operation expenses of
the Vietnam Development Bank.
4. The levels of appropriation and the use of
the risk provision are provided for in the financial mechanism of the Vietnam
Development Bank.
Article 41.- Competence
to handle risks
1. The general director of the Vietnam
Development Bank shall adjust the debt-payment time limit, debt-payment term
and the value of debts to be paid in each term and reschedule debts with the
total extended duration not exceeding 1/3 of the lending term specified in the
first credit contract and the total capital-lending term not exceeding the
maximum capital-lending term prescribed in this Decree.
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3. The Ministry of Finance shall assume the
prime responsibility for, and coordinate with the Ministry of Planning and
Investment and the State Bank of Vietnam in, examining and submitting to the
Prime Minister for decision cases of remission of loan principals at the
proposal of the general director of the Vietnam Development Bank.
Chapter V
CAPITAL SOURCES FOR
MATERIALIZATION OF THE STATE'S INVESTMENT CREDIT AND EXPORT CREDIT
Article 42.- State
budget fund
1. The charter capital of the Vietnam Development
Bank.
2. The state budget capital allocated for
offsetting the interest rate difference and post-investment supports.
3. The state budget capital allocated for
implementation of the Government's programs and targets.
Article 43.- Mobilized
capital
1. Government bonds, Government-guaranteed
bonds, bonds of the Vietnam Development Bank and promissory notes as well as
deposit certificates, which are issued in accordance with law.
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3. Other capital sources as prescribed by law.
4. The mobilization of capital in foreign
currencies shall be considered on the basis of the actual capital use demand and
opinions of the Ministry of Finance, the Ministry of Planning and Investment
and the State Bank of Vietnam.
Chapter VI
RESPONSIBILITIES OF
STATE MANAGEMENT AGENCIES, THE VIETNAM DEVELOPMENT BANK, INVESTORS, IMPORTERS
AND EXPORTERS
Article 44.- The Ministry
of Finance
1. To assume the prime responsibility for, and
coordinate with the concerned ministries and agencies in, submitting to the
Government for promulgation mechanisms and policies on the State's investment
credit and export credit.
2. To guide or promulgate according to its
competence mechanisms and policies on the State's investment credit and export
credit for implementation by the Vietnam Development Bank; to oversee financial
activities of the Vietnam Development Bank.
3. To decide according to its competence on
lending interest rates, handling of risks and export loan terms of over 12
months.
4. To inspect and oversee the Vietnam
Development Bank in the borrowing of capital and the payment of debts to the
mobilized capital sources; the use of capital to lend investors, provide
investment credit guarantees, post-investment supports, export loans, export
credit guarantees, bid-participation guarantees, contract-performance
guarantees, import loans or for debt recovery; to perform several tasks assigned
by the Prime Minister.
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Article 45.- The
Ministry of Planning and Investment
1. To integrate the State's investment credit
and export credit plans into the annual and long-term socio-economic
development plans; to submit to the Prime Minister for consideration and
decision the annual plans on the State's investment credit and export credit;
to coordinate with the Ministry of Finance in formulating policies on the
State's investment credit and export credit.
2. To assume the prime responsibility for, and
coordinate with the Ministry of Finance in, making annual state budget
estimates for the State's investment credit and export credit activities.
3. To coordinate with the Ministry of Finance in
inspecting operations of the Vietnam Development Bank in the borrowing of
capital, the acknowledgment and payment of debts to the mobilized capital
sources, in the use of capital for materialization of the State's investment
credit and export credit; in handling the State's investment credit and export
credit risks according to regulations.
Article 46.- The
Ministry of Trade
1. To formulate and submit to the Government and
the Prime Minister exports development strategies and programs in each period;
to coordinate with the Finance Ministry in formulating policies on the State's
investment credit and export credit.
2. To publicize widely information on export
markets; to suggest solutions and implementation guidance for expansion and
development of export markets for Vietnamese goods.
Article 47.- The State
Bank of Vietnam
1. To perform the state management of money,
foreign exchange, credit and payment related to the State's investment credit
and export credit.
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Article 48.- The
Vietnam Development Bank
1. To organize the implementation of policies on
the State's investment credit and export credit in strict accordance with this
Decree.
2. To propose competent agencies to amend or
supplement policies on the State's investment credit and export credit.
3. To handle risks according to its competence
and take responsibility for the accuracy and transparency of proposals on the
handling of risks to competent agencies for consideration and decision.
4. To recover principals and interests of
investment credit and export credit debts according to regulations.
Article 49.- Within
their functions and powers, ministries, ministerial-level agencies,
government-attached agencies and provincial/municipal People's Committees
shall:
1. Publicize development plannings, plans and
orientations as well as processes, regulations, standards and econo-technical
norms of branches, domains, products and territorial regions, which shall serve
as bases for implementation of policies on the State's investment credit and
export credit.
2 Direct, inspect and oversee investors in the
execution of investment under the state regulations on investment; solve
problems related to the implementation of policies on the State's investment
credit and export credit.
Article 50.- Investors,
importers and exporters
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2. To use loan capital for proper purposes, to
pay debts fully and on schedule and fulfill the commitments in contracts on
credits, guarantees or post-investment supports.
3. State enterprises provided with loans or
guarantees by the Vietnam Development Bank shall, upon their ownership
transformation, notify in writing the Bank thereof so that the latter may
handle their investment credit and export credit debts in accordance with law.
Chapter VII
REPORTING, SUPERVISION,
INSPECTION AND HANDLING OF VIOLATIONS
Article 51.-
Supervision, inspection and reporting
1. Investment credit and export credit
activities under the provisions of this Decree shall all be subject to
supervision and inspection by competent state agencies in accordance with law.
2. The supervision and inspection may be
effected at each stage or at all stages of the process of construction
investment, production, business and repayment of loan capital.
3. Ministers, heads of ministerial-level
agencies, government-attached agencies, presidents of provincial/municipal
People's Committees shall oversee and inspect the implementation of policies on
the State's investment credit and export credit, which fall within their
management scope.
4. Quarterly or extraordinarily, the Vietnam
Development Bank shall make and send sum-up reports on the situation of
investment credit and export credit to the Prime Minister and concurrently to
the Finance Ministry, the Planning and Investment Ministry, the State Bank of
Vietnam and the General Office of Statistics.
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1. Organizations and individuals that borrow
capital, are provided with guarantees or post-investment supports but violate
the provisions of this Decree, thus causing property or capital losses, shall
pay compensation therefor and be handled under the provisions of law.
2. The Vietnam Development Bank shall take
responsibility before law for the implementation of policies on the State's
investment credit and export credit; all acts of violating the provisions of
this Decree shall be handled in accordance with law.
Chapter VIII
IMPLEMENTATION PROVISIONS
Article 53.- This
Decree takes effect 15 days after its publication in "CONG BAO." To
annul the Government's Decree No. 106/2004/ND-CP of April 1, 2004, on the
State's development investment credit and the Prime Minister's Decision No.
133/2001/QD-TTg of September 10, 2001, promulgating the Regulation on export
support credit as well as relevant provisions on the State's investment credit
and export credit.
Article 54.- Cases
where contracts have been signed
1. Projects borrowing investment credit capital,
provided with investment guarantees or post-investment supports for which
contracts have been signed with the Vietnam Development Bank (former
Development Assistance Fund) before the effective date of this Decree shall
continue to be executed according to commitments in the signed contracts.
2. Contracts on borrowing of export credit
capital, provision of export credit guarantee, bid-participation guarantee or
contract-performance guarantee, which have been signed with the Vietnam
Development Bank (former the Development Assistance Fund) before the effective
date of this Decree, shall continue to be performed according to commitments in
the signed contracts.
Article 55.-
Responsibilities for guiding the implementation
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Article 56.- Ministers,
heads of ministerial-level agencies, heads of government-attached agencies,
presidents of provincial/municipal People's Committees, the chairman of the
managing board and the general director the Vietnam Development Bank shall
implement this Decree.
LIST
OF PROJECTS ENTITLED TO INVESTMENT CREDIT LOANS
(Promulgated together with the Governments Decree No. 151/2006/ND-CP of
December 20, 2006)
No.
Branches,
domains
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Socio-economic infrastructures
(regardless of geographical areas)
1
Projects of investment in roads,
road bridges, railways and railway bridges
2
Projects of investment in the
building of clean water supply works for industry and daily life
3
Projects of investment in the
building of wastewater and garbage treatment works in urban centers, industrial
parks, economic zones, export-processing zones, hi-tech parks, hospitals and
clusters of industrial craft villages
4
Projects of investment in
housing funds for workers in industrial parks, economic zones,
export-processing zones; students dormitories
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Projects of investment in the
health sector: expansion and upgrading of, and equipment investment in
building of, hospitals
6
Projects of investment in the
expansion, upgrading, building of educational, training and vocational training
institutions
7
Projects of investment in
technical infrastructure in handicraft villages, clusters of rural industrial
craft villages
II
Agriculture, rural areas
(regardless of geographical areas)
1
Projects of investment in building
or expansion of concentrated cattle and poultry raising and slaughtering
establishments;
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Projects on development of
aquatic breeds; investment in aquaculture infrastructure
3
Projects on development of plant
varieties and animal breeds, forest saplings
III
Industry (regardless of
geographical areas)
1
Projects of investment in deep
processing from mineral ores:
- Steel-cast, pig-iron, with a
minimum capacity of 200,000 tons/year;
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- Production of aluminum, with a
minimum capacity of 300,000 tons/year; production of metallic aluminum, with
a minimum capacity of 100,000 tons/year;
- Production of ferro-alloy,
with a minimum capacity of 1,000 tons/year;
- Production of non-ferrous
metals, with a minimum capacity of 5,000 tons/year;
- Production of titanium dioxide
powder, with a minimum capacity of 20,000 tons/year;
2
Projects on manufacture of
diesel engines of 300 CV or more
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Projects of investment in
building train carriages and assembly of train locomotives
4
Projects of investment in
preparation and production of antibiotics, detoxification drugs, commercial
vaccines and anti-HIV/AIDS drugs
5
Projects of investment in the
building of small hydroelectric power plants of a capacity of 100 MW or less;
building of wind power plants
6
Projects of investment in DAP
and nitrogenous fertilizer
IV
Projects of investment in geographical
areas hit by socio-economic difficulties or exceptional difficulties;
projects in geographical areas inhabited by Khmer ethnic minority people,
communes covered by Program 135 and border communes covered by Program 120,
alluvium communes
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Lending projects under the
Governments agreements; projects on offshore investment under the Prime
Ministers decisions.
LIST
OF GOODS ITEMS ENTITLED TO EXPORT CREDIT LOANS
(Promulgated together with the Governments Decree No. 151/2006/ND-CP of
December 20, 2006)
No.
List
of goods items
I
Group of agricultural, forestry
and aquatic goods
1
...
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2
Coffee
3
Tea
4
Pepper
5
Processed cashew nuts
6
...
...
...
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7
Sugar
8
Aquatic products
9
Cattle and poultry meat
10
Poultry eggs
11
...
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II
Group of fine-art and handicraft
goods
1
Rattan and bamboo articles,
wicker articles made of other materials
2
Embroidery
3
Fine-art ceramic and porcelain
articles
4
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5
Silk and silk products
6
Woodworks for export
III
Group of industrial products
1
Component parts and equipment in
complete units
2
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3
Transformers of all kinds
4
Plastic products in service of
industry and construction
5
Home-made electric wires and
cables
6
Seagoing vessels
7
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8
Light bulbs
IV
Computers in complete units,
computer component parts and software