Decision No. 211/1999/QĐ-TTg stipulates that the interest rate for loans to plant industrial raw material forests is 0.81% per month in 1999 and from 2000 onwards shall be implemented according to Decree No. 43/1999/NĐ-CP. This document applies to organizations, households, and individuals planting forests.
Scope of application
Organizations, households, and individuals planting forests
Key points
- Forest owners can borrow funds with an interest rate of 0.81% per month in 1999 (Article 1).
- From January 1, 2000 onwards, the interest rate shall be applied according to Decree No. 43/1999/NĐ-CP (Article 1).
- Forest owners can borrow funds from the development support fund, other preferential credit sources, and ODA (Article 2).
- When harvesting the forest, the forest owner must repay both principal and interest without compounded interest (Article 1).
🌐 Social impact of this document
- To reduce financial costs for organizations, households, and individuals planting forests.
- Encourage investment in the industry of planting industrial raw material forests.
- Increase the management and supervision burden of state agencies in implementing preferential interest rates.
❓ Frequently asked questions
What is the interest rate for loans to plant forests in 1999?
0.81% per month (Article 1).
From which date does the interest rate according to Decree No. 43/1999/NĐ-CP apply?
From January 1, 2000 (Article 1).
From which sources can forest owners borrow funds?
The development support fund, other preferential credit sources, and ODA (Article 2).
Full text
Pursuant to …;
Regarding the interest rate for loans to plant industrial raw material forests
_____________
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to the Forest Protection and Development Law dated August 19, 1991;
Pursuant to Decision No. 661/1998/QĐ-TTg dated July 29, 1998;
PURSUANT TO THE PROPOSAL OF THE MINISTER OF AGRICULTURE AND RURAL DEVELOPMENT.
DECISION:
Article 1. The interest rate for loans to plant industrial raw material forests is set at 0.81% per month for planting according to the production plan for 1999;
From January 1, 2000, the interest rate for loans to plant industrial raw material forests shall be implemented in accordance with Decree No. 43/1999/NĐ-CP dated June 29, 1999 on state investment credit development.
Organizations, households, and individuals planting forests (referred to as forest owners) may borrow funds according to the economic cycle of the planted trees; when harvesting the forest, the forest owner repays both principal and loan interest without compounding interest.
Article 2. Forest owners may borrow from the development support fund, other preferential credit sources, ODA funds from countries, international organizations, and other loan sources.
Article 3. This Decision takes effect fifteen days after its date of signature.
The Ministers of Planning and Investment, Agriculture and Rural Development, Finance, and the Governor of the State Bank of Vietnam are responsible for guiding the implementation of this Decision.
DEPUTY PRIME MINISTER
Relations map
Click a document to open. A red border = a relation that changes validity.
Translations
This document is available in the following languages: