Restructuring economy with stronger solutions

Leaders of provinces and related departments are attending the nationwide online conference

Many support packages are given

Speaking at the conference, Prime Minister Nguyen Xuan Phuc said that the Covid-19 pandemic has had a great influence on the situation of production, business and life the people.

In terms of business and production, many businesses and business households have to temporarily suspend operations, narrow their scale or produce in moderation, and increase short-term unemployment. The average economic growth in the first quarter of 2020 is 3.82%, which is the lowest in the past 10 years, achieved only more than half of the plan.

In the face of the above situation, the Government has promptly issued guidelines and policies to support businesses and people in many fields such as monetary support package (raised to about VND 300,000 billion), fiscal support packages (about VND 180,000 billion), social security support package (about VND 62,000 billion), electricity price support package (about VND 12,000 billion), telecommunication price support package (about VND 15,000 billion).

In addition, public investment needs to disburse VND 700,000 billion this year. At the same time, the Government also instructs the Ministry of Finance and the Tax Department to extend, exempt, and reduce taxes, fees, charges and land rent for businesses, business households, organizations and individuals affected by the Covid-19 pandemic to help people and businesses overcome difficulties, recover and promote economic growth in the coming time.

For security and order, it is necessary to take measures to ensure social security and safety and fight against hostile forces taking advantage of social networks to fight against the Party and State, causing information disturbance.

Dong Nai proposes many problems

According to the leaders of the provincial People's Committee, the province has directed related departments, branches and units to urgently survey and collect information about difficulties and obstacles and recommendations of enterprises, credit institutions monitoring the business and production situation of businesses, citizens and borrowers affected by the Covid-19 pandemic to take measures to support and overcome difficulties such as rescheduling debt repayments, considering appropriate loan interest exemption and reduction according to regulations of the Government and the State Bank of Vietnam.

Departments, industries and localities shall coordinate with the provincial Confederation of Labor to review enterprises with workers who are having difficulties to consult the Vietnam General Confederation of Labor for partial support from trade union budget, directing the advisory division to guide the time of paying trade union fees by enterprises affected by Covid-19. 

The provincial Social Insurance also issued a document guiding the suspension of contribution to the pension and death gratuity for people affected by Covid-19 in accordance with the provisions of Vietnam Social Insurance.

Regarding import and export support, Dong Nai Customs Department has also focused on solving difficulties for enterprises with a large proportion of goods imported from China, goods exported to China, and enterprises affected by clothing, leather shoes etc, actively allocating human resources to quickly clear business goods and promptly solving difficulties and problems. The Customs also proactively introduced domestic partners to supply raw materials for enterprises to find alternative sources of domestic raw materials in case of scarce foreign markets.

In addition to proactive measures to overcome difficulties of the province, Dong Nai also proposed the Government and the Prime Minister to have policies to support enterprises to reschedule and freeze debts; support for exemption, reduction of value added tax, corporate income tax, import and export taxes for businesses, and taxes for employees. Dong Nai proposed the Vietnam General Confederation of Labor to partially support the trade union's budget, delay the payment of trade union funds for enterprises affected by Covid-19; deduct unemployment insurance expenses for vocational training for laborers to support enterprises in organizing training and improving workers' skills. This is a measure for enterprises to keep workers and wait for the end of the pandemic to boost production to offset growth.

Be more creative

Speaking at the conference, Prime Minister Nguyen Xuan Phuc asked to continue to thoroughly grasp the spirit of determination to fight the pandemic, implement tasks according to Directive 16 well, and continue to seriously implement social distancing. Economic growth is still low; in some key areas, growth is not high, so it must be more creative in the spirit of turning risks into opportunities, restructuring the economy with strong solutions in each industry and each field, finding new markets, changing ways to bring efficiency in production and business, promoting industrial production and services, especially agriculture; and strictly handling the slow disbursement of public investment, speculation and price increases.

The Prime Minister assigned the Ministry of Planning and Investment to assume the prime responsibility and work together with other ministries and branches in urgently formulating scenarios to quickly recover economy after the outbreak, and report it to the Prime Minister in the coming week, especially key areas and industries responsible for contributing to this issue. The Ministry of Planning and Investment shall assume the prime responsibility and work with the Government Office to synthesize difficulties, problems, proposals and recommendations of localities and business communities for inclusion in the Government's resolutions.

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