Supportive policies to businesses that are resilient after Covid-19 pandemic in Viet Nam

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12 by Luật Nghiệp Thành , 1 Tháng bảy, 2022

Supportive policies to businesses that are resilient after Covid-19 pandemic in Viet Nam

The original article Supportive policies to businesses that are resilient after Covid-19 pandemic in Viet Nam

On January 11, 2022, the National Assembly has just issued Resolution 43/2022/QH15 on fiscal and monetary policies for supporting socio-economic recovery and development program. The business support policy is one of the notable policies in this Resolution. Let’s join Nghiep Thanh Law in learning about this regulation!

The policy to support interest rates from the State budget for commercial loans of businesses in the period 2022 – 2023 aims to remove difficulties for people and businesses affected by the COVID-19 epidemic.

Regarding policies to support recovery for enterprises, cooperatives and household businesses, specifically as follows^[1]:

– Supporting loan interest rate of 2% per year, a maximum of VND 40,000 billion through the system of commercial banks for a number of important sectors and fields, enterprises, cooperatives and household businesses that are able to repay debts and have the ability to recover; loaning to renovate old apartments, build social houses, houses for blue-collar workers to buy, rent and hire-purchase.

Accordingly, based on the above legal regulations, enterprises, household businesses, and cooperatives that have the ability to repay debts and recover will be able to borrow at 2% interest at commercial banks, which is applied for the fiscal years 2022 and 2023.

Also, according to Resolution 43/2022/QH15, this support package is up to VND 40,000 billion for businesses assigned by the Government and National Assembly to the banking industry to carry out.

You may refer to The tax exemption and reduction policy for people and businesses due to the Covid-19 pandemic in Viet Nam

You may refer to What will the business receive from free legal support in Viet Nam?

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Translator: Le Khanh Linh

Content writer: Bui Thi Nhu

Instructor: Nguyen Linh Chi

Moderator: Lawyer Thuan

^[1] Article 3.1.(1.2).(c) Resolution 43/2022/QH15.