The Vietnamese government has issued Decree No. 31/2022/ND-CP dated May 20, 2022 on interest rate support from the State budget for loans to enterprises, cooperatives, and families-run businesses.

Accordingly, enterprises, cooperatives, and families-run businesses are entitled to interest rate support if they operate in aviation, transportation, warehousing, tourism, accommodations, catering, and education and training, agriculture, forestry and fishery, processing industry, manufacturing, software publishing, computer programming and related activities, information service activities. 

Of special note, construction activities directly serve the above-mentioned economic sectors but excluding construction activities for real estate business purposes as specified in Decision No. 27/2018/QD-TTg dated 6- July 2018 of the Prime Minister.

In addition, borrowers who are in need of loans to build social housing, housing for workers, renovate old apartment buildings on the list of projects compiled by the Ministry of Construction are also eligible for the above-mentioned supportive scheme on the interest rate.

An interest-supported loan is a loan agreement signed and disbursed during the period from January 1, 2022, to December 31, 2023.

The support interest rate for customers is 2 percent per annum.

The national government asked the interest rate support to ensure publicity and transparency, target the right subjects and use purposes, and avoid policy profiteering.

Reporting by MAI QUE – Translating by A.THU