Circular 35/2012/tt-Btc: The Guide Of Some Articles Of Decree No. 75/2010/nd-Cp On 30/01/2011 By The Government On Credit Investments And Export Credit By State

Original Language Title: Thông tư 35/2012/TT-BTC: Hướng dẫn một số điều của Nghị định số 75/2011/NĐ-CP ngày 30/08/2011 của Chính phủ về tín dụng đầu tư và tín dụng xuất khẩu của Nhà nước

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Pursuant to Decree No. 118/2008/ND-CP on November 27, 2008 of the Government functions, tasks, powers and organizational structure of the Ministry of finance;

Pursuant to Decree No. 75/2010/ND-CP on 30/01/2011 by the Government on credit investments and export credit of State (hereinafter referred to as the Decree No. 75/2010/ND-CP of the Government);

The Ministry of Finance shall guide the implementation of some of the content is as follows: article 1. The object to apply the object application this circular includes the Vietnam Development Bank (hereinafter referred to as the Bank) and the organizations and individuals involved in the process of implementation of investment credit and export credit of State as defined in Decree No. 75/2010/ND-CP of the Government.

Article 2. Credit plans for investment and export credit of State 1. On build-time estimation of the annual State budget, establishment and Development Bank reported the Ministry of finance, the Ministry of planning and investment plans of investment credit and export credit by the State every year. The Ministry of finance evaluation plan of investment credit and export credit of State Development Bank of China and Ministry of planning and investment to the General, the Prime Minister of the economic development plan. 

2. investment credit plan and export credit of State Development Bank, annual building include: a) reviews the implementation of the plan of investment credit, export credit of the State of the current year (the year before the year of the plan).

b) Of the General credit growth, which details specific to the investment credit, export credit of the State and the other assigned tasks.

c) sources of capital to make general credit growth plan, which details each type of resources, including:-debt recovery capital loans investment credit, export credit of the State.

-Sources of capital mobilization of the organizations and individuals inside and outside the country, which mobilized details through bonds and other Government issued loan guarantees as required by the law.

-The State budget funds additional levels to increase Charter capital (if any) or to make investment, credit programs credit the State's exports.

-Funding to undertake support activities after the investment.

d) State-level budget funds to compensate the difference in interest rates.

3. Pursuant to the plan of investment and credit growth export credit of the State, planning resources, plans to compensate the difference in interest rate and level of support after the investment was approved by the authorized bank of development, be proactive, allocating credit growth rates specific to each sector investment credit credit, exporter of State and for each project in the branches, sectors, geographical areas on the principle: a) ensure credit growth plan not to exceed planned levels offset the difference in interest rates has been reported.

b) prioritization of projects, contracts, contract to import urgent investment program by the Government and signed the credit contract with the Development Bank.

c) full funding arrangement to pay the debt financing to repay in accordance with commitment and regulated by law.

4. where the credit needs of export credit, investment by the State in the year of change or have large fluctuations affect resources, Development Bank, reported the Ministry of finance in cooperation with the Ministry of planning and investment to the prime consideration of the adjustment plan accordingly.

Article 3. Loan level limits 1. Outstanding loans to determine the loan limit for each owner, exporters, overseas importers do not exceed 15% of the Charter capital of the Bank is developing include: a) outstanding loans to investment credit (including loans under the credit program aimed at using foreign capital).

b) outstanding loans for export credit.

c) other loans (excluding loans from the development bank capital trust, authorize loans back).

2. Loan to define the level of lending in the term debt, including debt was renewed debt, overdue debt and circled.

3. for customers who have loans, Development Bank decided to loan for each specific case on the basis of the level of outstanding loans and the remaining capital was disbursed under the credit contract is concluded in development banks, guarantee the principle not to exceed the maximum loan for an investor , exporters, overseas importers specified in Decree No. 75/2010/ND-CP.

Article 4. Investment credit loan development of State 1. Object, condition, capital levels, time, money, interest rates for loans made as defined in section 1 of chapter II of Decree No. 75/2001/ND-CP of the Government.

2. in case the Bank develop foreign financing to lenders under the credit program has a target, the object must be in the loan portfolio of credit loans project invested by the State and must comply with the conditions, terms defined in Decree No. 75/2010/ND-CP of the Government. The case of foreign sponsors require the conditions, the other terms with defined in Decree 74/2010/ND-CP, development banks must report the prime consideration of approval before implementation.

Article 5. Following investment support.

1. the beneficiaries of support after investing a) supported object of investments made under the provisions of article 12 and article 13 of Decree 75/2010/ND-CP on 30/01/2011 by the Government on credit investments and export credit of the State.

b) supported conditions of investment: in addition to the provisions of conditions supported investment regulations in article 13 of the Decree 74/2010/ND-CP, the project must include audit reports completed investment projects for the project the law prescribes compulsory audit must be for the remaining projects, the implementation of the audit as required by the Development Bank.

c) The project is not subject to the following investment support:-the project has been the source of active equity Fund are derived from the State budget or the budget of the State were granted financial assistance (loan costs) in any form.

-Change the project owner.

-Loan project as the target program using foreign capital of credit institutions.

2. Principles for determining and following investment support level a) following investment support level is calculated for each project and grant to the owner after having to repay the loan capital (debt) for credit institutions for loans. Pursuant to the repayment of the capital invested, the Bank developed the following support levels of investment for the investor maximum per quarter during the year.

b) following investment support level is calculated on the total amount of the original debt actually charged by the credit contract signed with credit institutions but does not exceed 70% of the total fixed asset investment of the project according to the decision of approval of capital settlement authority.

c) for the prepaid term loans, the following investment support level is calculated according to the actual duration of loans that loan under credit contracts signed.

d) for the projects delineated time debt debt circle don't count on real term loans to support investment and later support the maximum time limit the time limit stated in the loan contract signed credit first.

DD) client are not supported after the investment for the original debt, overdue debts to pay in time of renewal of debt.

e) no support after investing for the account owner's original repayment repayment for credit institutions before receiving enough development bank records as required.

3. the following investment support level a) formula determines the level of support after investing the support level after the investment for the project = ∑i real original debt charged is calculated HTSĐT x interest rate difference was calculated following investment support x the time limit of the original debt loans actually paid real supported b) identifying the elements calculated support levels after the investment-Level difference interest is calculated after the investment support by the Ministry of Finance announced is calculated on the basis of the difference in the average interest rate for the investment of the State commercial bank (the Bank of agriculture and rural development of Vietnam, Bank for investment and development of Vietnam Joint stock commercial bank for foreign trade of Vietnam Joint stock commercial bank for industry and trade Vietnam) and interest rate of capital investment credit of the State.

-The project enjoyed the support level following the repayment by investment of the investor for credit institutions and by the difference in interest rates was announced at the time of repayment.

-Real time limit the loan is calculated the following investment support is the time period from the date of receiving the loan owner (indicated on the vouchers received the debt) to the original debt was paid in term date (indicated on the certificate from the repayment) for credit institutions under credit contracts, credit contracts amending and supplementing signed.

Following investment support period is defined for the following cases: a capital disbursement once was returned on 1 times; amount of capital disbursed once was charged on multiple times; amount of capital disbursed is repaid many times on 1 times; amount of capital disbursed is repaid many times into many times. The Bank developed specific instructions about the time limit for the loan of the project reality on the basis of the credit contract is concluded between the investor and the credit institution.

-The identification of the following support levels for the investment project loans in foreign currency is made according to the resources. On that basis, based on the average transaction rates USD/USD on the inter-bank foreign currency market or exchange rate calculated for the cross-currency/USD due to the State Bank of Vietnam announced at time of funding support, to determine the level of support after investing in Vietnam for the project.

Article 6. Export credit


1. Objects, forms, conditions, capital levels, time, money, interest, loan disbursements, debt collection made as defined in chapter III of Decree No. 75/2010/ND-CP of the Government. Manufacturers, foreign importers have to mobilize enough capital sources with specific credit conditions to perform contracts outside the export credit loan portion of the Development Bank.

2. disbursement forms a) direct Development Bank disbursements for exporters or importers on the basis of the contract between export credit loan development banks and exporters, overseas importers.

b) Development Bank, may be mandated for the financial institution, credit, legal activities in the country and abroad to disburse credit loans for exporters or importers.

3. debt collection forms a) direct development bank debt (principal and interest) of exporters, overseas importers.

b) Development Bank, may be mandated for financial institutions, credit operations in foreign and domestic currency debt (principal and interest) of exporters, overseas importers on the basis of the contract between export credit loans Development Bank, with exporters , foreign importers.

c) Development Bank, is entitled to collect the debt of the exporter, the importer abroad in foreign currency from the source currency export goods. Development banks perform foreign exchange buying, selling and trading on Forex with the credit institutions are allowed to operate foreign currency accounts to convert the currency to Vietnam Dong or vice versa as required by the law on Foreign Exchange Management.

d) entrustment disbursements, debt collection is done on the basis of the contract of mandate between the Development Bank, with financial institutions, domestic and foreign credit was mandated in which clearly defined obligations and rights of the parties in the disbursements, debt collection and in accordance with the regulations of the law on mandated and entrusted loans of credit organizations.

Article 7. The interest rate for the investment credit and export credit of the State.

1. Periodic quarterly and year end, the Bank developed calculus, determine the average interest rate of resources, operational costs and proposed lending interest rates investment credit, export credit of State as defined in the decision of the Prime Minister on financial management for Bank of development and the guidance documents for reporting The Ministry of finance.

2. Pursuant to the report calculates the average interest rate of resources, operational costs and the interest rate proposed for investment credit loan, export credit of State Development Bank; the base lending interest rate situation in the market and plan-level offset the difference in interest rates has been informed, the Ministry of finance to consider the decision of investment credit interest rate, credit the State's exports.

3. in case of the interest on the average financing market and Development Bank have increased volatility, decreased 10% compared with the calculated interest of adjacent, Development Bank recalculated the average interest rate of resources, operational costs and proposed lending interest rates investment credit credit, exporter of State reporting to the Ministry of finance to consider the decision adjusting the interest rates.

Article 8. Secured loan 1. The owner, when exporters investment credit loan (including all loans under the credit program aimed at using foreign capital) export credit, the State must implement measures to ensure the money at the Bank under the provisions of the law of secured transactions. The measures include loan guarantees: pledge of property, property, use the properties form in the future and measures of other warranties (if any) prescribed by the law on secured transactions.

Base Development Bank capacity, the financial situation of the owner, exporter; project-credit loans for investment projects financing, loan repayment plan; the level of confidence of the investors, exporters to decide specific measures secured loan, secured loan rate to a minimum.

Foreign importers when the export credit loans of the State must be the Government or Central Bank or financial institutions perform functions of investment credit, export credit of importer countries have granted the loan guarantee as defined in clause 5 article 17 of Decree 75/2010/ND-CP.

2. During the period not yet paid off debt, investors, exporters may not assign, sell, lease, loan or mortgage, pledge secured property without the consent of the Bank.

3. The Development Bank are processed secured property in the case of: a) To service the repayment term that investors, exporters do not perform or improper implementation of obligations;

b) Investor, exporters must carry obligations to repay ahead of time due to the breach of obligations under the agreement or under the provisions of the law;

c) regulated the secured property must be processed to the secured party perform other obligations;

d) other cases due to Development Bank agreement with investors, exporters in the secured loan contract or prescribed by law.

4. Development Bank based on the regulations of current legislation on secured transaction issued specific guidance documents about the process, the procedure of receiving the property, the contract secured loan, secured transactions registry defining clearly the powers and responsibilities of the parties to implement the system-wide consistency.

Article 9. Handling risks.

In case the owner, importer, exporters abroad risk not unforeseen repayment stipulated in art. 26 Decree Article 75/2010/ND-CP; the limited liability company in a Member State by the owner of 100% of capital when making the transition to models owned multi financial difficulty according to the regulations and other risk cases due to the decision by the Prime Minister was considering handling of risks according to the regulations of handling risk capital investment credit credit, exporter of State Development Bank due at the Prime Government regulations and instructions made by the Ministry of finance.

Article 10. Report mode 1. Every year on the build-time estimation of State budget, development banks have a responsibility to establish and report the Ministry of finance, the Ministry of planning and investment on planning the investment credit, export credit of State as defined in article 2 of this circular.

2. Periodic quarterly (before the 15th of the first month you later) and the end of the year (before 30 January of the next year), the Development Bank has the responsibility to prepare and submit the reports included captions for the Ministry of finance, the Ministry of planning and investment, the State Bank of Vietnam, the General Department of statistics :-report on the situation of resources and use of resources (model No. 01/BC-VDB).

-Reported loans of State investment credit (form No. 02/BC-VDB).

-Report for the export credit loans by State (model number 03/BC-VDB).

-Report the following investment support (model number 04/BC-VDB).

-The report by capital investment mandate (model number 05/BC-VDB).

3. irregular reports under specific programmes, thematic.

Article 11. Implementation 1. This circular effect since 20 April 2012 and apply to projects, loans contracted investment credit loan, export credit and support after the initial investment (including loans for investment projects, the following investment support, the export contract the import contract) from the date of Decree No. 75/2010/ND-CP on 30/01/2011 by the Government on the investment credit, export credit of effect execution state.

2. This circular replaces circulars: No. 69/2007/TT-BTC on 25/06/2007 of the Ministry of finance instructed a number of articles of Decree No. 151/2006/ND-CP on December 20, 2006 by the Government; No. 16/2009/TT-BTC dated 22/01/2009 of the Ministry of finance revised circular No. 69/2007/TT-BTC.

3. for the projects, contracts of investment credit loan (including all loans under the credit program aimed at using foreign capital), export credit, support after the investment, the investment credit guarantees, export credit, guarantee bid and guarantee implementation of the contract signed with the Bank before the date of the Decree No. 75/2010/ND-CP effective the force shall be made according to the commitments in the signed credit contracts.

4. The responsibility of the owner, exporters, foreign imports in addition to the implementation as defined in article 38 of Decree 75/2010/ND-CP, investors, manufacturers, foreign importers have a responsibility to:-provide accurate, complete, timely in accordance with the requirements of the development of bank documents related to corporate finance and business activity of the business- Subject to the check, the Bank's monitoring development in the use of loans for your purposes, effectively and preserve capital.

5. Development banks have access to the data on the client, export of tax authorities, customs authorities according to the provisions of the law for the management, lending, debt collection.

6. Development banks, credit organizations and the outsourced investor, exporters, foreign importers have the project, the contract uses the capital investment credit, export credit of the State is responsible for the implementation of this circular.

7. in the implementation process, if there are difficulties and obstacles, suggest the agency unit, reflecting on the Finance Ministry to study, modify, Supplement.