The State Bank of Vietnam is requesting consultancy on the draft of Decision of the Prime Minister stipulating the sequences and procedures to obtain approval for economic organizations to lend abroad and provide sponsor to non-residents.
Whereby, the Prime Minister considers and approve by principles the economic organizations’ proposal on:
Abroad lending, sponsor to non-residents that are not associated with outward investment projects; Abroad lending and sponsor for non-residents that are associated with outward investment projects subjected to the approval for outward investment policies (including the case of increasing the limit of abroad lending, the sponsor limit for non-residents increases the scale of outward investment projects, leading to the investment projects is subjected to the approval for outward investment policies).
The main contents which are approved by the Prime Minister by principles include Borrower, Sponsored Party; Loan, sponsor limit; alter the Borrower, the Sponsored Party; increase the loan limit, increase the sponsorship limit of the abroad loan, the sponsor for non-residents principles have been initially approved by the Prime Minister.
The draft also specifies that the Prime Minister assigns the Minister of Planning and Investment to preside, coordinate with relevant agencies to consider and approve economic organizations’ abroad lending and sponsorship for non-residents associated with outward investment projects not subjected to the approval for outward investment policies as prescribed. The main contents approved by the Minister of Planning and Investment by principle including loan and sponsorship limit.
Ministries, ministerial-level agencies, and other agencies shall participate in the appraisal of requests for abroad loans and sponsor for non-residents of Economic organizations within the management scope of state agencies in compliance with legal regulations and hold the responsibility for the contents of appraisal within their functions and tasks.
