Chủ đề: business

The Prime Minister has sent an official message requesting that ministries and agencies review laws to remove difficulties and obstacles facing investment and business in the context of Covid-19. There are problems in 79 laws, three National Assembly resolutions, 188 decrees, 20 Prime Ministerial decisions, and 135 circulars in State management issued by 21 ministries and ministerial-level agencies. There are also 29 laws under the management of ten ministries that need to be studied and amended immediately.

A draft resolution process chaired by the Ministry of Planning and Investment has set out four groups of urgent tasks and solutions to help businesses overcome the difficulties amid Covid-19. By the end of this year, about 1 million businesses and customers will receive credit support; about 160,000 enterprises will be granted extensions to tax payments; exemptions or reductions of taxes, fees, and land rents will be introduced; and about 50,000 businesses will return to operation.

The Ministry of Agriculture and Rural Development (MARD) is conducting a pilot project developing five areas of agricultural raw materials, with an area of 160,000 ha and total capital of more than VND1.5 trillion ($65.64 million). The formation of large raw material areas will make the agricultural sector more attractive to investors, and at the same time address fragmented production and lack of links.

Business association recommends the 30 per cent reduction within a draft NA Standing Committee decision be increased to 50 per cent.

The Ministry of Finance (MoF) proposes that the first-time registration fee for electric cars is only 50 per cent of that of conventional cars to stimulate the consumption. In Vietnam, the number of electric cars is quite modest, the whole country has only one enterprise producing battery electric cars - VinFast, with a production and assembly capacity of 250,000 vehicles per year.

The Vietnam Chamber of Commerce and Industry (VCCI) has sent a proposal to the Ministry of Finance in response to a draft Resolution from the National Assembly Standing Committee promulgating a number of solutions on budget revenue to support businesses and individuals affected by Covid-19. VCCI has proposed extending support measures until the end of June 2022, broadening their scope and scale and adding solutions relating to expenses.

While the fourth outbreak of Covid-19 caused many businesses to suffer losses or perhaps even close, there were others who recognized how to take advantage of government support measures to adapt, not only supplying goods for the domestic market but also for export. The government has quickly issued a range of support policies amid the pandemic, but the number of beneficiaries remains low due to gaps between policy and implementation.

Minister of Planning and Investment Nguyen Chi Dung proposed eight groups of solutions to help enterprises cope with the ongoing difficulties at a conference between the Government and businesses on August 8. Notable solutions include promoting business support for digital transformation and innovation; pushing the development of the digital economy, e-commerce platforms, and electronic payment transaction technology; and developing large-scale corporations and State-owned enterprises that operate effectively and will play a leading role into the future.

Vietnam’s outstanding advantages in agriculture have prompted the Francophone International Organization (OIF) to send a delegation of 70 enterprises from OIF member countries to Vietnam in October to promote trade and investment. This is an opportunity for Vietnamese businesses in the fields of agriculture, processing, renewable energy, and digital goods and services to cooperate with French-speaking partners.

The Prime Minister has directed the establishment of a special working group to support businesses and at the same time advise the government on appropriate solutions.

The Ministry of Industry and Trade (MoIT) has suggested a number of measures to support businesses amid Covid-19, such as exemptions and reductions on or payment extensions for land and infrastructure rentals, and grace periods and extensions for or the postponement of tax and fee payments.

Industry associations have proposed delaying increases to land rentals, extending grace periods, deferring payments of taxes and fees, and reducing registration fees to assist production and business during the Covid-19 pandemic. They have also suggested dedicated places at factories for eating and resting, and that employees be limited to traveling on the same route to and from work. Other measures may be necessary, depending on the characteristics of each locality.

On June 13, the president of Vietnamese parliament Vuong Dinh Hue had a discussion with some agencies under the Vietnamese Government on implementing policies to support businesses affected by the Covid-19 pandemic and controlling the inflation. Besides, Mr. Hue also stated that Vietnam needs to continue to improve the business investment environment, develop the private economy, digital economy and stimulate domestic demand.