Ho Chi Minh City offers interest subsidies for industrial projects
The Ho Chi Minh City People’s Committee has issued regulations on interest support toward enterprises investing in the industrial sector and the support industry.
HCM City (VNA) – The Ho Chi Minh City People’s Committee has issued regulationson interest support toward enterprises investing in the industrial sector andthe support industry.
The policyaims to encourage firms to purchase modern machinery and equipment and boostproduction to minimize the need of imports.
Accordingly,the interest subsidy will be applied to a maximum of 200 billion VND (8.8 millionUSD) per project for a period of no more than seven years from the firstdisbursement.
The subsidisedloan cannot be higher than 70 percent of the investment in basic constructionas regulated by the Construction Ministry and 85 percent of the investment on technologyand equipment.
Projectsthat enjoy 100-percent interest subsidies include those on renewable energies, productionof new machinery, and those using new automated technologies. Investmentprojects using equipment fueled by green energy and those producing machineryparts in the sectors of mechanics, plastic-rubber, food processing,electronics-IT, garment-textiles and leather-footwear are also eligible to thesame level of financial assistance.
Subsidiesfor 50 percent of interest are projects on building facilities for exhibition, transaction,design, as well as research and development of industrial products and supportindustry.-VNA
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Illustrative image (Source: VNA) 
