Do pioneering youth members receive preferential treatment when applying for loans from commercial banks in Vietnam?

Do pioneering youth members receive preferential treatment when applying for loans from commercial banks in Vietnam?

Pursuant to Article 6 of Decree 17/2021/ND-CP stipulating policies applied to pioneering youth members on duty as follows:

1. They are entitled to all compensation and benefit packages as intended for employees in accordance with laws on labor, employment, social insurance and health insurance.

2. They are provided with at least two sets of a pioneering youth’s uniform each year, and pioneering youth’s membership cards.

3. They have access to advantages in taking training courses to improve their academic qualification, politics, professional and occupational skills; participate in cultural, physical training, sports, entertainment and recreational activities as prescribed by law.

4. They are entitled to get involved in activities of mass organizations; have access to fostering programs and secure nomination as candidates for admission to Ho Chi Minh Communist Youth Union, and to Communist Party of Vietnam, in accordance with the provisions of the Charter of Ho Chi Minh Communist Youth Union and the Charter of the Communist Party of Vietnam.

5. They receive preferential treatment when applying for loans from the Vietnam Bank for Social Policies in accordance with regulations in force.

6. If a pioneering youth member who performs a brave act dies or is injured in a way that falls into one of the cases prescribed by laws on preferential treatment for revolutionary contributors, he/she shall be eligible for his/her inclusion in his/her pioneering youth organization’s application to the competent authority to seek its approval of recognition as a martyr, or its decision to entitle him/her to policies applied to war invalids in accordance with laws on preferential treatment for revolutionary contributors.

7. If a pioneering youth organization's member dies, he/she shall be entitled to a funeral allowance in accordance with laws on social insurance, and shall have access to the pioneering youth organization’s support to be afforded a means of transport to carry his/her dead body to his/her hometown or family at the request of his/her relatives.

8. A pioneering youth member who has worked in a pioneering youth organization for fully 24 months shall be awarded a Pioneering Youth Medal by the Central Committee of Ho Chi Minh Communist Youth Union. If there are different stages or intermissions of participation in a pioneering youth organization, the period of participation may be calculated on an accumulative basis.

9. Pioneering youth members who have merits and achievements in performing their tasks shall be commended and rewarded in accordance with laws on emulation and commendation.

10. Pioneering youth members on assignment in areas facing extremely difficult socio-economic condition as prescribed by law shall be entitled to additional policies as follows:

a) Receive a package of subsistence allowances within the first six months on assignment in these areas. The amount of subsistence allowance per month on assignment shall be one time as much as the base pay rate defined by law;

b) Obtain permission for postponement of military service or exemption from conscription as provided in the Law on Military Service.

Thus, according to the law in Vietnam, pioneering youth members on duty receive preferential treatment when applying for loans from the Vietnam Bank for Social Policies. However, you may also receive preferential treatment at a commercial bank depending on that bank's loan policy. Pioneering youth members when borrowing capital at a commercial bank can refer to the loan policy of that bank to determine whether they are eligible for loans.

What are policies applied to pioneering youth members off duty in Vietnam?

According to Article 7 of Decree 17/2021/ND-CP stipulating policies applied to pioneering youth members off duty as follows:

1. They are entitled to receive the Certificate of fulfillment of duties from pioneering youth organizations.

2. They gain advantages in participating in the public staff recruitment process under laws on public officials, civil servants and public employees.

3. If they wish to settle down and make a living in ethnic minority areas, mountainous areas, remote or isolated areas, border areas, islands, or areas facing extremely difficult socio-economic condition, they shall be entitled to the socio-economic development policies of the State applied to the areas where they intend to live.

4. Pioneering youth members on assignment in areas facing extremely difficult socio-economic condition as prescribed by law may be entitled to additional policies as follows:

a) Lump-sum payment of allowance per a year of working in a pioneering youth organization in areas facing extremely difficult socio-economic condition that is calculated as one month’s wage that they are being paid in a given time. If they work for less than 01 year (12 months), i.e. from 01 month to fully 06 months, they shall be paid a half (1/2) of a month’s wage; more than 06 months, they shall be paid a month's wage;

b) Exemption from conscription as provided in the Law on Military Service;

c) Fares granted to help them go back home.

According to this Article, pioneering youth members off duty will enjoy the policies specified above in Vietnam.

Best Regards!