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Facilitating the policy loans for businesses

According to the statistics of Vietnam Bank for Social Policies from July to October 2021, via the Resolution No. 68/NQ-CP of Government and Decision No. 23/2021/QD-TTg of the Prime Minister for a number of policies to support the employees and employers who have encountered difficulties due to the Covid-19 pandemic, more than VND750 billion was disbursed by the Vietnam Bank for Social Policies to employers.


However, in the process of implementing Resolution No. 68 there have been still some obstacles that make it difficult for businesses to access this preferential capital.

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Employers carry out policy credit loan procedures at a branch of the Provincial Bank for Social Policies​

Timely remove the difficulties

From that reality, the Vietnamese Government has recently implemented the Resolution No. 126/NQ-CP (Resolution No. 126) amending Resolution No. 68 and Decision No. 33/2021/QD-TTg revising Decision No. 23/2021/QD for a number of policies to support employees and employers who have been facing difficulties due to the Covid-19 pandemic, including regulations for policy credit loans.

According to the Deputy Minister of Labor, Invalids and Social Affairs Le Van Thanh, the applied Resolution No. 126 has helped to simplify a number of regulations in loan documents and procedures. With this application, the employers only have to provide copies of some prescribed documents to prove their legal status, instead of having to submit a notarized copy or one copy with the original document included for comparison. In addition, the revised and supplemented documents have been more specific and detailed for a number of contents so that customers, banks and relevant units to understand universally and adequately during the implementation process.

According to Mr. Nguyen Duc Hai, Deputy General Director of Vietnam Bank for Social Policies cum Director of the Vietnam Bank for Social Policies, Dong Nai Branch: Resolution No. 126 has added a group of borrowers when restoring production and business to pay wages to employees. Specifically, the target group that is entitled to access to policy credits are employers with headquarters, branches, representative offices, production and business locations in the locality where the epidemic preventive measures according to the principles of Directive No. 16-CT/TTg of the Prime Minister or apply measures of inactivity/stoppage/limited activities/conditional activities as prescribed in Resolution No. 128/NQ-CP during the period from May 1, 2021 to the end of March 31, 2022.

In addition, Resolution No. 126 removed a number of loan conditions for employers. Especially, Resolution No.126 removed the condition stating that the employer has no bad debt at the credit institution or a foreign bank branch at the time of applying for a loan. This resolution also removes the condition indicating that completing the finalization of the Corporate Income Tax in 2020 for companies doing business in fields of transport, aviation, tourism, accommodation, sending workers abroad to work. Those companies are eligible when making loan for paying wages to employees.

Priority to help businesses

When applying Resolution No. 126, the provincial branch of VBSP together with transaction offices of VBSP in districts and cities have proactively established hotlines to promptly receive information and loan needs of businesses.

At the same time, in the remained complicated situation of the epidemic, units can coordinate with the bank to set up and process documents in the electronic environment, submit and process documents on the National Public Service Portal. The disbursement of this program is made until March 31, 2022.

In addition, according to Mr. Nguyen Duc Hai: Dong Nai Branch of VBSP continues to coordinate with local press agencies, Fatherland Front, socio-political organizations, Dong Nai Industrial Zones Authority, associations, Labor Unions at all levels, People's Committees of districts and cities, etc. to promote the propaganda of new, amended and supplemented regulations in a very open and open manner for businesses to know, and access to the Government's preferential lending policy. At the same time, VBSP Dong Nai Branch will mobilize its human resources to maintain a hotline to proactively approach and support businesses and employers who need to implement processes and procedures. complete loan documents for quick and timely disbursement.

Along with the efforts of VBSP Dong Nai Branch and related units, businesses that need to borrow policy credits should also pay attention when carrying out policy credit loan procedures at the Bank of Social Policy, Dong Nai Branch. Accordingly, the employers should actively study carefully the regulations on subjects and conditions as prescribed by the Government to know if they are beneficiaries or not and in the process of setting up the profile avoid having to do many times again.

When determining to be the beneficiaries of the policy and have a need for loans, employers should actively contact the VBSP Dong Nai Branch or transaction offices of VBSP in districts and cities where the employers located for detailed instructions on setting up a loan application.

Nguyen Van

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