Decree No. 106/2008/ND-CP amends and supplements certain Articles of Decree No. 151/2006/NĐ-CP dated December 20, 2006 of the Government on state investment credit and export credit.

DECREE

Amending and supplementing certain Articles of Decree No. 151/2006/NĐ-CP dated December 20, 2006 of the Government on state investment credit and export credit export of the state

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THE GOVERNMENT

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

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

Based on the Investment Law dated November 29, 2005;

On the basis of the Law on Credit Institutions dated February 12, 1997 and the Law amending and supplementing certain provisions of the Law on Credit Institutions dated May 16, 2004;

Considering the proposal of the Minister of Finance,

DECREE:

Article 1. Amending and supplementing certain provisions of Decree No. 151/2006/NĐ-CP dated December 20, 2006 of the Government on state investment credit and export credit as follows:

1. Amend Point a Clause 2 Article 1 as follows:

"a) Enterprises, economic organizations, public service units with income ensuring operating costs or self-assuring part of operating costs having projects eligible for loan investment, investment credit guarantee, post-investment support (hereinafter referred to as the investor);"

2. Amend Clause 2 of Article 4 as follows:

"2. The Ministry of Finance shall take the lead in examining the annual and long-term state investment credit and export credit plan prepared and submitted by the Vietnam Development Bank to the Ministry of Planning and Investment for consolidation and submission to the Prime Minister for decision in the socio-economic development plan."

3. Amend Clause 2 Article 10 as follows:

"2. The interest rate for loans denominated in Vietnamese dong shall be equal to the government bond interest rate for a five-year term plus 1%/year."

4. Repeal Clause 3 Article 10.

5. Amend Clause 1 Article 14 as follows:

"1. The Ministry of Finance shall decide the level of post-investment support based on the difference between the interest rate for investment loans from credit institutions and the interest rate for state investment credit; encourage investors to seek funding sources with reasonable costs."

6. Amend Clause 2 Article 39 as follows:

"2. Risk management measures to be considered for application include: debt extension, debt write-off, and debt sale."

7. Supplement Clause 6 Article 44 as follows:

"6. Take the lead and coordinate with the Ministry of Planning and Investment to examine the annual and long-term state investment credit and export credit plan prepared by the Vietnam Development Bank, submit to the Prime Minister for decision in the state budget estimate and socio-economic development plan."

Article 2. Replace the List of Projects Eligible for Investment Credit issued together with Decree No. 151/2006/NĐ-CP dated December 20, 2006 with the List of Projects Eligible for Investment Credit issued together with this Decree.

The Ministry of Finance shall take the lead and coordinate with relevant ministries and agencies to submit to the Government for supplementation and amendment of the List of Projects Eligible for Investment Credit and the List of Commodities Eligible for Export Credit when necessary.

Article 3. This Decree shall take effect fifteen days after its publication in the Official Gazette.

Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairmen of People's Committees of provinces and centrally governed cities, Chairmen of the Board of Directors and General Directors of the Vietnam Development Bank are responsible for implementing this Decree./.