Thursday, April 22 2021

VietNamNews

Businesses want more help from the Government

Update: March, 05/2021 - 08:22

 

Workers assemble automobile components in TC Motor under Thành Công Group. VNA/VNS Photo

HÀ NỘI — Domestic businesses have called on the Government to aid them as they are still struggling to maintain production and business activities due to a lack of credit support after more than a year of coping with the COVID-19 outbreak.

This appeal was sent to Prime Minister Nguyễn Xuân Phúc by the business community in early February. It asked the Government to consider lifting the export tax on woodchips to remove difficulties for wood producers amid the COVID-19 pandemic. Businesses want the Government to stabilise the purchasing price and encourage growers to maintain afforestation to boost export promotion.

The transport sector is one example of an industry looking for Government help.

A decree that took effect last April requires transport businesses transporting passengers by automobiles with at least nine seats or transporting cargo by tractor trucks or tractor units to equip their vehicles with cameras.

Installing cameras in the sector's more than 340,000 vehicles would cost about VNĐ1.5-1.9 trillion (US$65-82 million) and maintaining servers and transmission lines will also cost about VNĐ500 billion ($21 million) per year.

These are really big expenses for transport companies amid the pandemic, so firms have asked the deadline for installation to be delayed until this July.

These are two of the many recommendations sent to the PM to overcome difficulties amid the new way of the COVID-19 outbreak.

Most businesses are hoping for supportive policies from the Government, especially assistance related to tax and fee deferrals.

Solutions

To deal with the difficulties of COVID-19, experts have called on ministries and agencies to urgently work out appropriate policies and solutions.

Experts said solutions needed to meet four criteria, with the first solution is that the Government should ensure socio-economic stability and offer incentives for businesses to soon recover.

Experts have also called on the Government to support economic activities to prevent and minimise liquidity loss, bankruptcy, business dissolution and facilitate rapid recovery of businesses after COVID-19.

They also asked the Government to restructure the economy in accordance with the global changes after COVID-19.

Lastly, the Government should stimulate domestic consumption and ensure social security.  VNS

 

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