Decision No. 03/2011/QD-TTg Issuing Guarantee Regulations for Small and Medium Enterprises Borrowing from Commercial Banks

Pursuant to …;

ISSUING REGULATIONS ON GUARANTEE FOR SMALL AND MEDIUM ENTERPRISES TO BORROW FUNDS FROM COMMERCIAL BANKS

______________________________

PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on State Budget dated December 16, 2002;

WHEREAS, Law on Credit Institutions dated February 12, 1997 and Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated May 16, 2004;

Pursuant to the Enterprise Law dated November 29, 2005;

WHEREAS, Decree No. 56/2009/NĐ-CP dated June 20, 2009 of the Government on Supporting the Development of Small and Medium Enterprises;

Considering the proposal of the Minister of Finance,

Pursuant to …;

Article 1. ATTACHED TO THIS DECISION IS THE "REGULATIONS ON GUARANTEE FOR SMALL AND MEDIUM ENTERPRISES TO BORROW FUNDS FROM COMMERCIAL BANKS".

Article 2. THE MINISTER OF FINANCE SHALL BE RESPONSIBLE FOR GUIDING THE IMPLEMENTATION OF THIS DECISION.

Article 3. THIS DECISION SHALL TAKE EFFECT FROM FEBRUARY 25, 2011 AND REPLACE DECISIONS NO. 14/2009/QĐ-TTg DATED JANUARY 21, 2009 AND NO. 60/2009/QĐ-TTg DATED APRIL 17, 2009 OF THE PRIME MINISTER ON THE ISSUE OF REGULATIONS ON GUARANTEE FOR ENTERPRISES TO BORROW FUNDS FROM COMMERCIAL BANKS. GUARANTEES THAT HAVE BEEN ISSUED WITH CERTIFICATES PRIOR TO THE EFFECTIVE DATE OF THIS DECISION SHALL CONTINUE TO BE IMPLEMENTED IN ACCORDANCE WITH THE COMMITMENTS STATED IN THE CERTIFICATES ALREADY SIGNED.

Article 4. THE MINISTERS, HEADS OF GOVERNMENTAL MINISTRIES, HEADS OF GOVERNMENTAL AGENCIES, CHAIRS OF PROVINCE PEOPLE'S COMMITTEES AND CITY PEOPLE'S COMMITTEES UNDER THE CENTRAL GOVERNMENT, CHAIRS OF MANAGEMENT BOARDS, AND GENERAL DIRECTORS OF VIETNAM DEVELOPMENT BANK SHALL BE RESPONSIBLE FOR ENFORCING THIS DECISION.