Requirements for eligibility for interest rate support for investment in bus passenger transport infrastructure in Vietnam

Specifically, according to Article 4 of Circular No. 02/2016/TT-BTC of the Ministry of Finance of Vietnam, an owner of a transport vehicle and infrastructure investment project for the public passenger bus service sector shall be entitled to loan interest rate support on condition that the following requirements are fulfilled:

- Ensure that their transport vehicle and infrastructure investment projects for the public passenger bus service sector have been approved by competent authorities in accordance with legislative regulations on investment.

- Receive loans from credit institutions to implement projects referred to in Clause 1 of this Article and use these loans in a proper manner.

- Ensure compliance with prevailing regulations applied to their public passenger bus service business.

With reference to local socio-economic development objectives and budget balancing capability of each local government, the provincial People’s Committee shall introduce specific regulations on interest rate support applied to project owners that implement projects defined in Article 4 of Circular No. 02/2016/TT-BTC within jurisdictions concerned with the aim of ensuring equality, public accessibility and transparency during application of that support, including on:

1. Loan limits qualifying for interest rate support.

2. Interest rate support level.

3. Interest rate support validity period.

Interest rate support shall be carried out in accordance with local regulations and through the State Treasury on the basis of submission of sufficient dossiers, implementation of regulatory procedures and grant of confirmation by competent authorities under the provisions of this Circular.

View details at Circular No. 02/2016/TT-BTC of the Ministry of Finance of Vietnam, effective from January 20, 2016.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE