Decree No. 54/2013/ND-CP dated May 22, 2013 of the Government supplementing the Decree No. 75/2011/ND-CP dated August 30, 2011 of the Government on state investment credit and export credit

THE GOVERNMENT

Decree No.  54/2013/ND-CP dated May 22, 2013 of the Government supplementing the Decree No. 75/2011/ND-CP dated August 30, 2011 of the Government on state investment credit and export credit

Pursuant to the Law on Government organization dated December 25, 2001;

Pursuant to the Law on State Budget dated December 16, 2002;

Pursuant to the Law on Investment, dated November 29, 2005;  

Pursuant to the Law on Credit Institutions dated June 16, 2010;

At the proposal of the Minister of Finance;

The Government promulgates the Decree supplementing the Decree No. 75/2011/ND-CP dated August 30, 2011 of the Government on state investment credit and export credit,

Article 1.To supplement a number of articles of the Government s Decree No. 75/2011/ND-CP dated August 30, 2011 on State’s investment credit and export credit (hereinafter called the Decree No. 75/2011/ND-CP) as follows:

1. To supplement Article 16a, regarding the enterprises with need to borrow fund for purchase of aquatic breeding food in service for export wish to borrow fund under the regime of export credit:

a. Subjects of loans:  The enterprises with need to borrow fund for purchase of aquatic breeding food in service for export.

b. Conditions of loans: Enterprises must meet fully the following conditions:

Having export contract or contract of aquatic product sale to enterprises processing aquatic products for export;

Having effective plan on aquatic cultivation in service for export and having been appraised and approved for loan provision by the Vietnam Development Bank;

Having full legal capacity and civil act capacity; 

Enterprises must implement fully provisions on loan assurance as prescribed by current law; buy asset  insurance at an insurer operating legally in Vietnam for asset formed from loans being subject to buying compulsory insurance during time limit of loans;

Enterprises must implement the regime of accounting; financial statement in accordance with law, the annual financial statements must be audited by independent audit agencies.

c. Levels of loan

The maximum loaning level is equal to 85% of total of demand on purchase of aquatic breeding food in service for export under the plan already appraised and approved for loan provision by the Vietnam Development Bank, and the maximum loaning level to each loaning subject shall not exceed 15% the existing charter capital of the Vietnam Development Bank.

General Director of the Vietnam Development Bank shall decide specific loaning level for each case according to the set regime.

d. Duration of loan

Loaning duration is defined under capacity of fund recovery in conformity with characteristics of each loaning plan for purchase of aquatic breeding food in service for export already appraised and approved for loan provision by the Vietnam Development Bank, but loaning duration of each loan does not exceed 12 months.

General Director of the Vietnam Development Bank shall decide the loaning duration for each loaning plan for purchase of aquatic breeding food in service for export according to the set regime.

d. Dossiers and procedures of loan

The Vietnam Development Bank shall guide dossier, procedures and consider, decide on provision of loans to enterprises for purchase of aquatic breeding food in service for export according to the State’s regime on export credit loaning and provisions in this Decree.

2. To supplement Article 27a on debt extension as follows:

1. The loaning duration of state’s investment credit is prolonged maximally up to 15 years (maximum total loaning times is 15 years) for some projects on economy infrastructure with big investment scale in fields of electricity, cement and steel production, clean water supply and environment and meeting fully the following conditions:

a. Projects of Groups A, B;

b) Investors meeting financial difficulties: Having result of business operation loss in 2011 and 2012; failing to balance funding source to pay debts in accordance with credit contracts already signed with the Vietnam Development Bank.

2. Prolonging maximally the loaning duration up to 36 months (maximum total loaning times is 36 months) for loans of state’s export credit for export headings being vegetables, fruits and aquatic products and required with conditions which enterprises get loss in 2011 and 2012; fail to balance funding source to pay debts in accordance with credit contracts already signed with the Vietnam Development Bank.

3. The Vietnam Development Bank shall guide dossiers, procedures and consider, decide on time prolonged of debts; and implement debt extension for projects meeting provisions in this Decree.

Article 2.This Decree takes effects on May 22, 2013.

Article 3.Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People s Committees, and the Chairman of the Management Council and the Director General of the Vietnam Development Bank shall implement this Decree./.

For the Government

Prime Minister

Nguyen Tan Dung