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Ha Noi supports enterprises with loan interest assistance

Update: August, 09/2014 - 10:36
Workers make soles for shoes at Thuong Dinh Footwear Ltd Company in Ha Noi. The capital city will support post-investment interest rates of loans for Ha Noi-based enterprises. — VNA/VNS Photo Ngoc Ha
HA NOI  (VNS) — The capital city will support post-investment interest rates for medium and long term loans in Vietnamese dong for Ha Noi-based enterprises, according to the municipal People's Committee.

Accordingly, the city will support 0.2 per cent of the loan interest rate per month, or 2.4 per cent per year, with tenure of 12 months. The support is meant for loans whose interest rate payment is between January 1, 2014 and December 31, 2014.

Those loans must come from credit institutions for investing in new projects, expanding existing projects, and innovating techniques and technology in Ha Noi.

The benefiting enterprises must also operate in manufacturing the city's key industrial products, agriculture, processing farm products and foodstuff, producing alternative products for imported goods, with sales of at least VND100 billion (US$4.69 million) in 2013 and employing over 200 workers.

Application forms for the aid should be sent to the municipal Department of Finance, which will then submit it to the People's Committee for approval.

Statistics from the committee showed that total investment in the city in the first six months of the year was estimated at VND871.1 trillion ($41.4 billion), increasing 10.2 percent against the same period last year.

The capital city has so far done its planning on improving the business environment as well as increasing its provincial competitiveness index (PCI).

In a recent meeting with businesses in the capital, the municipal authorities pledged to continue to resolve difficulties and obstacles faced by enterprises in agriculture, rural areas, export products and support industry. — VNS

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