There are 2,607 operating businesses in the Cửu Long (Mekong) Delta province of Trà Vinh with total registered capital of VNĐ33,206 billion. VNS Photo Văn Châu

HCM CITY – Despite the COVID-19 pandemic, the number of newly registered enterprises in the Cửu Long (Mekong) Delta province of Trà Vinh has risen this year compared to the same period last year. 

About 126 enterprises have registered since the beginning of the year with total registered capital of VNĐ1,591 billion (US$67.7 million). Compared to the same period last year, the number of new enterprises rose by 12, while registered capital increased by nearly four times, according to the province’s People Committee.

The chairman of the province’s People Committee, Đồng Văn Lâm, has promoted tax policies and credit support for companies affected by the pandemic. 

Specifically, banks and credit institutions in the province have reduced lending interest rates in marximum in some priority areas, he said.

According to the State Bank of Vietnam branch based in Trà Vinh, the province has more than 500 customers with debts totally worth over VNĐ650 billion having repayment terms restructured. A 0.5 per cent reduction in the interest rates is applied to bank debts, while the interest rate of credit institution debts are cut by 1 per cent.

About 1,700 businesses and 2,000 business households have received a five-month extension for tax payments. 

In addition to the tax payment extension, 130 enterprises have received a five-month extension on land rental payments. 

The management board of the Small and Medium-sized Enterprise Development Project of Trà Vinh Province (SMEs Trà Vinh) has given non-refundable support of more than VNĐ1.86 billion to small and medium-sized enterprises. 

The financial support will focus on investment for technological innovation and the use of solar power to increase production capacity and product quality, and to reduce costs to improve competitive capacity, according to SMEs Trà Vinh. – VNS