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“It is necessary to focus on enhancing the operational efficiency of the corporate assistance action committee”

Above was the address of Comrade Tran Dinh Thanh – Secretary of the provincial Party Committee when he met with the corporate assistance action committee, the leadership of concerned departments, committees and sectors and checked how corporate assistance was done within the province on March 26.

    Corporate assistance within the province has showed good results. Until March 31, total loans in the province reached VND28,870 billion including VND19,155 billion of short-term loans (in which state-run companies account for 10.46% – privately-owned, joint stock and limited ones 41.83% – foreign-invested ones 17.72% – other economic components 29.99%). According to Decision no. 131 of Prime Minister on interest-funded loans, until March 13, such loans of VND 3,906 billion making up 20.4% of the total short-term loans were given to 4,000 clients. Interest-funded clients were approximately 355 and the funded money was VND1,720 million/ VND521,551 million of loans. In terms of guaranteeing businesses’ loans, Vietnam bank counseled 13 businesses but only offered one business the guarantee of a loan of VND 5,748 billion. In terms of corporate tax policies, Department of Finance and Bureau of Tax produced guidance documents on the policies to reduce tax and extend the deadline when businesses must pay VAT, corporate income taxes and personal income taxes. Total budget revenues in 2009 are expected to fall by VND1,200 billion including reductions: VND236.61 billion of VAT, VND537.31 billion of corporate income taxes and VND310.82 billion of personal income taxes.

Secretary of the provincial Party Committee – Tran Dinh Thanh delivered an address at the meeting

    There are a lot of difficulties in employment due to production cutdown. In the evaluation of Dong Nai concerned agencies, labor relations here have been greatly affected. Since the fourth quarter of 2008, laid-off workers in the province have amounted to approximately 9,354, including 5,404 from early 2009 to now. However, it is expected that newly-employed workers in the first six months of 2009 will be 25,000. Department of Labor, War Invalids and Social Affairs have collaborated with concerned agencies in assisting laid-off workers in getting their salaries, social insurances and unemployment benefits, especially in focusing on helping them find new jobs.

    Basically, the government’s demand stimulus packages have showed effects. However, there are a lot of difficulties. For example, the number of businesses which gained access to 4%-interest bank loans in the first quarter was small in comparison with the total medium-and-small sized businesses within the province. Policies to stimulate demand and promote export have assisted businesses in lowering costs and making the products which have more competitive prices than those of other countries. Nevertheless, there have been a lot of difficulties seeking for export markets and a fall of 18% of import and export turnover against the same period of last year has proved this. Since businesses are trying to prepare financial reports effectively by allocating their costs for later periods, this affects the efficiency of policies to reduce tax and delay the time when they must pay taxes.

    Most of businesses proposed that the provincial People’s Committee should ask the government to extend the deadline of low-interest loans for medium and small sized businesses within the province until December 31, 2009 so that they can gain access to these loans and better use them. At the same time, it it necessary to accelerate administrative procedures for putting solutions on corporate demand stimulus into action.

    Making a speech and supplying guidances at the meeting, Comrade Tran Dinh Thanh laid a special emphasis on seeking new markets for businesses and giving them information on markets in order to help them through this difficult period. He reminded that the corporate assistance action committee should perform their roles effectively and attempt to give all priorities to corporate assistance.

(Reported by N.Thuong, Translated by Duy Minh)

Author: phongvien

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