The Ministry of Finance is building a new document to replace the Decree No 14/2009/QD-TTg and another Decree No 60/2009/QD-TTg on guarantee regulations for enterprises when borrowing capital at commercial banks.
Under the Decree No 14/2009/QD-TTg, Vietnam Development Bank (VDB) will have responsibility for guaranteeing for enterprises operating in all fields that have maximum chartered capital of 20 billion dong or using maximum 1,000 workers when these firms borrow capital at commercial banks to carry out their business and production plans.
In order to be guaranteed by VDB, companies need to prove their effective investment or business and production plans.
Accordingly, the government's new credit guarantee mechanism will be rebuilt towards reducing gradually state supports. Credit guarantee will be run in accordance with market mechanism including three sides namely VDB, commercial banks and enterprises.
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