Vietnam: New dossiers for applying for a loan at the National Employment Fund

Each borrower shall submit an application for loans to a branch/transaction office of Vietnam Bank for Social Policies (hereinafter referred to as local VBSP) where the project is executed.

According to new regulations, applications for loans of employees, business entities include the documents specified in Decree No. 74/2019/NĐ-CP of Vietnam’s Government, specifically as follow:

- Firstly, an application for loan submitted by a employee includes: The application form for loan which must bear the Commune-level People’s Committee’s certification of the borrower's legal residence and the borrower’s eligibility for priority entity status as prescribed in Point b Clause 2 Article 12 of the Law on employment of Vietnam (if any);

- Secondly, an application for loan submitted by a business entity includes:

+ The project which will use the borrowed fund and must bear the Commune-level People’s Committee’s certification of the project location;

+ The copy of the enterprise registration certificate, certificate of co-operative registration, business cooperation contract or certificate of household business registration;

+ Documents proving the business entity’s eligibility for priority entity status as prescribed in Point a Clause 2 Article 12 of the Law on employment (if any), including:

• If at least 30% of total employees of the business entity are disabled: The copy of the Decision on recognition that at least 30% of the business entity’s total employees are disabled, issued by the Provincial Department of Labor, War Invalids and Social Affairs;

• If at least 30% of total employees of the business entity are ethnics: The list of employees who are ethnics; copies of ID card or family register or temporary residence register and the labor contract or employment decision of each listed employee;

• If at least 30% of total employees of the business entity are disabled and ethnics:  The list of employees who are disabled and ethnics; copies of disability certificates of the disabled employees issued by Commune-level People’s Committees; copies of ID cards/passports/family registers/temporary residence registers of employees who are ethnics; and copies of labor contracts or employment decisions of listed employees.

View other provisions at Decree No. 74/2019/NĐ-CP of Vietnam’s Government, effective from November 08, 2019.

Thu Ba

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