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Accordingly, it is estimated that at the end of this year, Vietnam only disburses VND2.57 trillion (US$109.4 million) in the 2-percent interest rate support package in compliance with Resolution No.43/2022/QH15 out of the allocated VND40 trillion ($1.7 billion). This package is supposed to help businesses, cooperatives, household businesses via commercial banks.
The reason for such a low disbursement is that 67 percent of bank clients are eligible for this package, yet they do not actually need that support. Meanwhile, a large quantity of customers are in need but do not satisfy the requirements.
In addition, the implementation of the accommodation rent support policy for laborers also encounters various obstacles. Resolution No.43/2022/QH15 and No.521/NQ-UBTVQH15 issued on June 14, 2022 announced that the National Assembly and its Standing Committee have decided to use VND6.6 trillion ($281 million) from both the revenues and the saving of the central budget to aid laborers.
Nevertheless, even when the above policy has expired now, the total disbursement only reached VND3.76 trillion ($160 million), accounting for just over a half of the allocation. This is because of tardiness in policy implementation, document assessment and approval, disbursement process. Adding to that is an insufficiency in human resources for the task of document receipt and assessment, leading to mobilizing temporary people from other fields. This group does not have the necessary professional expertise, nor are they bold enough to carry out the task for fear of mistakes.
Until March 31, the preferential lending policy via the Bank of Social Policies reached a loan balance of VND16.4 trillion ($698 million), equal to nearly a half of the approved amount by the National Assembly. However, four out of five programs in this policy are estimated not to use of the program’s capital.
Meanwhile, the need to borrow money in the support program for job creation, maintenance, and expansion is rather high (at VND43 trillion - $1.8 billion). Only around VND10 trillion ($426 million) has been allocated and disbursed in the 2022 plan. It is possible to continue this process, yet the financial sources are depleted.
