Finance Ministry Fixes Interest Rates for Investment and Export Credit

The Vietnamese Ministry of Finance has issued a decision to fix the states ling interest rates for investment credit, export credit and support for interest rate difference.

 

Under the decision, the ling interest rate for investment credit is fixed at 12 per cent per annum for Vietnamese dong and at 7.8 per cent per year for free convertible foreign currencies.

 

These rates will be 11.4 per cent for the dong and 7.2 per cent for convertible foreign currencies for those projects of building infrastructure, rural and agricultural development and other investment projects in disadvantaged areas, in Khmer ethnic minority inhabited areas, in communes belonging to the hunger eradication and poverty reduction program, border communes subjected to the Program 120.

 

The ministry announced the ling rate for export credit in VND is 14.4 per cent per annum and that in free convertible foreign currencies 7.8 per cent.

 

The interest rate difference for post-investment support for projects loaned in VND is fixed at 3.9 per cent per annum and for those loaned in free convertible foreign currencies at 0.96 per cent.

 

Vietnam Development Bank will be responsible for providing these loans. (People, Vietnam Economic Times)