Which entities are target beneficiaries of support loans for job creation, maintenance, and expansion in Vietnam? What are the methods of loan support?
- Which entities are target beneficiaries of support loans for job creation, maintenance, and expansion in Vietnam?
- What are the principles for support loans for job creation, maintenance, and expansion in Vietnam?
- What are the methods of loan support for job creation, maintenance, and expansion in Vietnam?
Which entities are target beneficiaries of support loans for job creation, maintenance, and expansion in Vietnam?
The target beneficiaries of support loans for job creation, maintenance, and expansion as specified in Section 2 of the Guidelines 8055/NHCS-TDSV in 2019 are as follows:
Loan beneficiaries:
2.1. Small and medium-sized enterprises, cooperatives, cooperative groups, and self-employed businesses (referred to collectively as production and business establishments).
2.2. Employees
Therefore, the loan beneficiaries for support in job creation, maintenance, and expansion include:
- Production and business establishments
- Employees.
Which entities are target beneficiaries of support loans for job creation, maintenance, and expansion in Vietnam? What are the methods of loan support?
What are the principles for support loans for job creation, maintenance, and expansion in Vietnam?
Pursuant to the provisions in Section 3 of the Guidelines 8055/NHCS-TDSV in 2019, the content is as follows:
Loan principles:
3.1. Loan customers must use the borrowed capital for the intended purpose.
3.2. Loan customers must repay the debt on time, including both principal and interest.
Therefore, loans for support in job creation, maintenance, and expansion must adhere to the following principles:
- Loan customers must use the borrowed capital for the intended purpose.
- Loan customers must repay the debt on time, including both principal and interest.
Note: This document provides guidelines for the loan operations of supporting job creation, maintenance, and expansion from the National Employment Fund and the mobilized capital of the Vietnam Bank for Social Policies (VBSP). It applies to units and individuals affiliated with the VBSP, as well as customers borrowing from the VBSP to support job creation, maintenance, and expansion
What are the methods of loan support for job creation, maintenance, and expansion in Vietnam?
The methods of loan support for job creation, maintenance, and expansion are specified in section 9.1 of Guidelines 8055/NHCS-TDSV in 2019 as follows:
Loan methods and authority to approve loan applications:
9.1 Loan methods:
a) For production and business establishments:
The VBSP directly provides loans at the provincial branch headquarters or district transaction office of the VBSP (referred to as the lending VBSP).
b) For employees:
- Employees borrowing from funds managed by the Central Agency of the Vietnam General Confederation of Labour, the Vietnam Cooperative Alliance, and the Vietnam Blind Association: The VBSP directly provides loans to employees at the lending VBSP.
- Employees borrowing from funds managed by the Provincial People's Committee, the Central Agency of the Vietnam Women's Union, the Ho Chi Minh Communist Youth Union, the Vietnam Farmers' Association, and the Vietnam Veterans' Association; Funds mobilized by the VBSP and funds entrusted to the VBSP by localities, organizations, and individuals both domestically and internationally for supporting job creation, maintenance, and expansion: The VBSP directly provides loans to employees who are entrusted with certain tasks in the loan process for political and social organizations and through savings and loan procedures as prescribed by the VBSP.
9.2 Authority to approve loan applications:
a) For projects managed by funds of the Provincial People's Committee: The Chairman of the District People's Committee where the project is implemented reviews and approves.
b) For projects managed by funds of the Central Agency of the Vietnam General Confederation of Labour, the Vietnam Cooperative Alliance, the Vietnam Blind Association, the Vietnam Women's Union, the Ho Chi Minh Communist Youth Union, the Vietnam Farmers' Association, and the Vietnam Veterans' Association (referred to as implementing organizations): The head of the provincial agency of the implementing organization reviews and approves.
c) For projects funded by funds mobilized by the VBSP and funds entrusted to the VBSP by localities, organizations, and individuals both domestically and internationally for supporting job creation, maintenance, and expansion: The Director of the lending VBSP reviews and approves.
Therefore, the loan support for job creation, maintenance, and expansion is carried out as follows:
For production and business establishments:
The Vietnam Bank for Social Policies directly provides loans at the provincial branch headquarters or district transaction office of the VBSP (referred to as the lending VBSP).
For employees:
- Employees borrowing from funds managed by the Central Agency of the Vietnam General Confederation of Labour, the Vietnam Cooperative Alliance, and the Vietnam Blind Association: The VBSP directly provides loans to employees at the lending VBSP.
- Employees borrowing from funds managed by the Provincial People's Committee, the Central Agency of the Vietnam Women's Union, the Ho Chi Minh Communist Youth Union, the Vietnam Farmers' Association, and the Vietnam Veterans' Association; Funds mobilized by the VBSP and funds entrusted to the VBSP by localities, organizations, and individuals both domestically and internationally for supporting job creation, maintenance, and expansion: The VBSP directly provides loans to employees who are entrusted with certain tasks in the loan process for political and social organizations and through savings and loan procedures as prescribed by the VBSP.
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