Decision No. 82/1998/QD-TTg Amending Article 10 and Article 11 of the Regulations of the National Investment Support Fund

DECISION OF THE PRIME MINISTER

Regarding the amendment of Article 10 and Article 11 of the Regulation on the National Investment Support Fund

(Annexed to Decision No. 462/TTg dated July 9, 1996 of the Prime Minister)

PRIME MINISTER

Pursuant to the Law on the Organization of the Government dated September 30, 1992;

To create favorable conditions for investors in borrowing from the National Investment Support Fund, reduce unnecessary administrative procedures, and align with current realities;

Considering the proposal of the Minister of Finance and the Chairman of the Management Board of the National Investment Support Fund,

DECISION:

Article 1. Amend Article 10 and Article 11 of the Regulation on the National Investment Support Fund annexed to Decision No. 462/TTg dated July 9, 1996 of the Prime Minister as follows:

1. Article 10 shall be amended as follows:

"Article 10. Investment projects considered for borrowing from the National Investment Support Fund must meet the following conditions:
1- Approved by the competent authority in accordance with current regulations;
2- The investment project belongs to industries, professions, fields, and regions eligible for preferential treatment according to the list A, B, C of Decree No. 07/1998/NĐ-CP dated January 15, 1998 of the Government (no investment preference certificate required), the project owner must have a borrowing and repayment plan confirmed by the investment decision-making agency;
3- Possess the ability to directly recover capital;
4- The assets formed using borrowed funds can be used to secure the loan. During the period when the debt has not been fully repaid, the project owner may not transfer, sell, or mortgage assets formed from the National Investment Support Fund's borrowed funds."

2. Article 11 shall be amended as follows:

"Article 11. The maximum amount of borrowing from the National Investment Support Fund for implementing an investment project shall not exceed 70% of the total approved investment capital, in cases exceeding this limit, it must be reviewed and decided by the Chairman of the Management Board of the Fund."

Article 2. THIS DECISION SHALL TAKE EFFECT 15 DAYS FROM THE DATE OF SIGNATURE.

Article 3. Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairmen of People's Committees of provinces and centrally governed cities, Chairman of the Management Board, and General Director of the National Investment Support Fund are responsible for implementing this Decision./.