Hanoi supports 0.2%/ month interest rate for enterprises

Vice chair of Hanoi People’s Committee, Nguyen Van Suu, has recently signed a decision to support interest rate for post-investments for Hanoi-based enterprises in 2011.
Accordingly, in 2011, the capital city’s budget will support the post-investment interest rate for medium and long term loans (from one year and longer) in dong for Hanoiheadquartered firms, using loans from credit institutions for new investment projects, investments in depth and expanding project, innovating technique and technology in Hanoi in some sectors such as key industrial products, agriculture production and processors of agricultural products and foodstuff.

In addition, producers of alternative products for imported goods, with sales of at least 300 billion dong in 2010 and companies employing over 1,000 workers (based on the list of social insurance payment, excluding the number of employees of other companies in the holding company system) will be allowed to enjoy the city’s incentives.

The support interest rate will be 0.2 percent per month (equalling to 2.4 percent per year) basing on the loan value and duration. – Vietbiz24

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam interest rates

Posted by VBN on Dec 1 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry