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New policies urged to boost confidence

Update: February, 02/2013 - 10:20


Pants are made for exports at a garment factory in the central province of Quang Tri. Local enterprises were urged to improve the quality of their products and services in order to enhance their competitiveness. — VNA/VNS Photo Ho Cau
HA NOI (VNS)— The National Centre of Socio-Economic Information and Forecasting is calling on the Government to devise new policies to boost business confidence.

It also urges enterprises to improve the quality of their products and services in order to enhance their competitiveness.

The centre is basing its call on its recent survey of the business confidence of Vietnamese enterprises, the results of which have offered a basis for optimism about the prospects for the economy going forward, despite a difficult 2012.

About 910 enterprises operating in trade, services, manufacturing and processing in northern Bac Giang Province and the cities of Ha Noi, Da Nang and HCM City were surveyed by the centre.

The head of the centre's world economic department, Luong Van Khoi, said that business confidence saw improvements in the fourth quarter of 2012 and would continue to improve in the first half of this year based on the confidence that enterprises have expressed in Government policies to stabilise the economy.

While the business status index in the manufacturing and processing sectors rose from 9 points in the third quarter to 19 points in the fourth quarter of last year, manufacturing and processing enterprises remained worried about rising input costs and stagnant demand, all of which might impact their decisions to expand production, Khoi said.

To boost business confidence and stimulate the economy this year, the centre has proposed the Government continue to loosen monetary policies at a reasonable pace to increase the ability of enterprises to access capital as well as provide guarantees for small- and medium-sized enterprises.

Policies to accelerate demand through personal income tax reductions, subsidies and consumer promotion programmes were also needed, the centre said.

The centre advised enterprises, meanwhile, to focus on expanding export market and increasing their involvement in regional and global value chains. — VNS

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