Struggling businesses not to pay interest: PM

In his February 24 dispatch, Prime Minister Nguyen Tan Dung instructed the Vietnam Development Bank to lend struggling businesses interest free loans.

The maximum period is 12 months. The loans are open to businesses unable to pay salaries, insurance or unemployment benefits and those that should reduce employees by 30 percent.

Prime Minister Nguyen Tan Dung instructed the Vietnam Development Bank to lend struggling businesses interest free loans (Photo:Nha Tran)

Along with such support, the PM decided to offer salaries to those workers who lost jobs due to their employers absconding.

The district people’s committees will take care of these particular payments.

In addition, Dung stated in his dispatch that unemployed workers who have returned from overseas could receive a loan to retrain or open a business.

Vietnam Bank for Social Policies will provide the loans.

The Ministry of Finance and relevant ministries are ordered to resolve entrepreneur’s questions in a bid to push trade and exports. The ministries must reduce unnecessary procedure.

The Central Bank’s governor should plan to adjust the rate exchange.

Banks should also contribute to universities and institutes to help create research on currency policy.

The Finance Minister must review regulations to provide loans and to facilitate business needs when they need capital.

The PM has decided to use money from government bonds to construct traffic projects and upgrade schools and medical centers.

The Ministry of Planning and Investment will submit proposals for urgent projects so that provincial leaders can use the capital.

The PM also said that some VND82 billion ($ 4,704,532) should be spent carrying out projects to promote trade.

By Phan Thao - Translated by Nha Tran

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