Q: Which enterprises are and are not the beneficiaries of the VDB’s guarantee?

A: Basing on the Credit Guarantee Regulation for enterprises to get loans from commercial banks promulgated with the Resolution No. 14/2009/QĐ-TTg dated 21 January 2009 and signed by the Prime Minister, VDB has guaranteed for the enterprises and co-operatives which have at least 20 billions VND of charter capital and are employing maximum 500 workers to get loans from commercial banks, which would be used to invest in production development and business (loans invested in fixed properties), to implement operation projects (loans invested in liquid capital) in line with the law (including investment projects, operation projects which are subjects of the states investment credit and export credit). These loans do not include those granted by the VDB.

It is not the VDBs purpose to guarantee enterprises and co-operatives to get loans which would be used to invest in production development and business in such fields as stock consulting and trading, real estate and service business; or to pay for other credit contracts loans.

Particularly, enterprises and co-operatives which expect to get loans to invest in production development projects, operation projects in such fields as goods transportation services, education and training and health care are still considered by VDB to be the beneficiaries of the program as regulated.

Q: What has the VDB achieved after two-month implementation of the Resolution No. 14/2008/QĐ-TTg signed by the Prime Minister?

A: Being awared of the task of implementing the Resolution No. 14/2008/QĐ-TTg signed by the Prime Minister, since the end of Jannuary 2009 the VDB has rapidly implemented through out its system, beginning with preparing instructive documents for professional skills of guarantee for enterprises and co-operatives to get loans from commercial banks. We promulgated the document No. 264/NHPT-BL-HTUT dated 6 February 2009 on implementation instructions of guarantee skills for enterprises to get loans from commercial banks.

We instructed our local branches to carry out the work in the area. We organized meetings with commercial banks to get cooperation agreements between these banks and the VDB to guarantee enterprises and co-operatives to get loans. We also had meetings with banking associations, business associations, associations of small and medium enterprises throughout the country in order to discuss and exchange ideas to cope with the potential difficulties during the process of credit guarantee.

To the end of February, the VDB had organized meetings to instruct credit guarantee work for enterprises to get loans from commercial banks in all the cities and provinces with the participation of leaders of these provinces, local branches, local commercial banks and enterprises’s representatives (from Hanoi, HCMC, Quang Tri, Thua Thien Hue, Da Nang, Kon Tum, Tien Giang...). Through these meetings, we instructed credit guarantee skills in commercial banks for tens of thousands of enterprises and co-operatives all over the country, and helped them grasp the regulations and process of credit guarantee so that from 1 March 2009, enterprises can approach the credit guarantee activities of commercial banks in the country.

The VDB’s efforts have made the PM’s Resolution No. 14 come into reality. In a short time, there were positive signals from enterprises which came to the VDB’s branches to hand their profiles or to learn about the credit guarantee procedure, including 60 enterprises from Hoa Binh, 33 from Tien Giang, 100 from Binh Phuoc, 50 from Vinh Long, etc. To respond the call of enterprises, VDB has set up profile receiving units at our Operation Departments and branches. It is required for these units to grasp professional skills and to have high responsibility.

In Hanoi and HCMC, VDB signed cooperation agreements with commercial banks to implement the guarantee regulations (specifically VDB had signed on agreements with 23 commercial banks). Therefore, theses banks will create good conditions for enterprises and co-operatives to approach commercial banks’ capital to implement the investment projects and business options owing to the VDB’s guarantee.

Q: What are key tips to have a good implementation of the government’s direction of Guaranteeing for enterprises to approach commercial banks’ loans?

A: The VDB has launched out specific instructions so that it would be easy for our teams as well as the Resolution’s beneficiaries to understand and follow.

We have promoted the program by organizing training courses, handed out leaflets of the Resolution, given the information through mass media and meetings held in many cities and provinces.

We have worked with the local authorities to have cooperation agreements with commercial banks to unify the implementation of guarantee and lending; and ask VDB staff to guarantee our customers as soon as their coming, and to instruct them as well as to check out their conditions as required.

We have set out groups of observers on the localities to fix unadequate activities if any, and to supplement as authorized or to cooperate with local authorities if there are any insufficiencies about the policy and guarantee activities.

Q: Thank you for your sharing.