DECISION

ON GUARANTEES FOR INVESTMENT PROJECTS DECIDED BY THE PRIME MINISTER TO BORROW CAPITAL AT DOMESTIC COMMERCIAL BANKS

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of December 25, 2001;
Pursuant to the Law on Credit Institutions of December 12, 1997;
At the proposals of the Minister of Finance, the Minister of Planning and Investment and the Governor of Vietnam State Bank,

DECIDES:

Article 1.- The Government shall not provide guarantees for investment projects decided by the Prime Minister to borrow capital at domestic commercial banks (including foreign-currency and Vietnam dong loans).

In cases where the State's support is essential for projects to borrow capital, such as the investment in the production of paper, fertilizer and steel casts, the Prime Minister shall consider and assign the Ministry of Finance to provide guarantee therefor right in the investment decisions for the project owners to borrow capital at domestic commercial banks.

For investment projects decided by the Prime Minister, for which the guarantee has been assigned to the Ministry of Finance before the effective date of this Decision, the guarantee shall continue to be implemented.

Article 2.- Commercial banks are permitted to provide investment projects decided by the Prime Minister with loans exceeding 15% of their own capital.

Article 3.- This Decision takes effect 15 days after its publication in the Official Gazette.

Article 4.- The ministers, the heads of the ministerial-level agencies, the heads of agencies attached to the Government and the presidents of the provincial/municipal People's Committees shall have to implement this Decision.