Decree 31 on interest rate support

Event: On May 20, the Goverment launched a stimulus package of VND40 tn (equivalent to 0.4% of the total credit in the system) to provide interest rate support of 2%/year.

Details:

Deputy Prime Minister signed Decree 31/2022/ND-CP on interest rate support from the State budget for loans of enterprises, cooperatives, and household businesses.

The policy applies to the following fields: aviation, transportation and warehousing, tourism, accommodation and catering services, education and training, agriculture, forestry and fishery, processing and manufacturing, software publishing, computer programming and related activities, information services, and projects on construction of social housing, housing for workers, and renovating old apartment buildings.

The Decree stipulates the conditions for receiving interest rate support are as follows: 1) the borrowers request interest rate support and meet the loan conditions, and 2) relevant loans must be Vietnam dong-denominated. In addition, the support period is for loans disbursed from 1/1/2022 until 31/12/2023.

For the complete report, please access here: Decree 31 on interest rate support

Analyst: Tanh Tran tanh.tran@yuanta.com.vn