Supporting industry firms to get interest rate subsidy
Companies in the supporting industry will get an interest rate subsidy from next year in an effort to promote the development of the part-supply industry, said Pham Tuan Anh, Deputy Director of the Industry Agency under the Ministry of Industry and Trade.
Companies in the supporting industry would be provided with an interest rate subsidy from next year (Photo: VNA)
Hanoi (VNS/VNA) - Companies in the supporting industry will getan interest rate subsidy from next year in an effort to promote thedevelopment of the part-supply industry, said Pham Tuan Anh, Deputy Director ofthe Industry Agency under the Ministry of Industry and Trade.
Anh saidthat the ministry was cooperating with relevant ministries and agencies tocomplete the policy for companies in the supporting industry in 2021.
Due to theimpacts of the COVID-19 pandemic, most companies in the supporting industryencountered difficulties.
“Thedifficult time, however, is a significant opportunity for enterprises to find anew direction and to improve their competitiveness,” Anh said.
TheVietnamese Government recently issued Resolution No 115 on solutions to promotethe development of the supporting industry. One of the solutions was providinginterest rate subsidies for enterprises in this sector.
The subsidywas supported by the Government through refinancing to commercial banks, whichwould be sourced from medium-term public investment. The support would be equalto the difference between the commercial loan interest rate and the State’spreferential investment credit loan interest rate but not exceeding 5 percent.
“This is abold policy which will provide significant support to enterprises,” hesaid.
The Ministryof Industry and Trade was cooperating with the State Bank of Vietnam and theMinistry of Finance to detail the interest rate subsidy policy. The draft wasexpected to be submitted to the Government for consideration and issuance inJanuary next year.
Anh alsourged companies in the supporting industry to be proactive in enhancingtheir production and management capacity to meet requirements of globalmanufacturers, which would be important, together with the Government’s supportpolicies, to enable Vietnamese firms to participate deeply in the global valuechains.
On October30, the Ministry of Industry and Trade issued an action plan to implement theGovernment’s Resolution No 115/NQ-CP dated in August about solutions to promotethe supporting industry./.
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Companies in the supporting industry would be provided with an interest rate subsidy from next year (Photo: VNA) 
