Enterprises see opportunities to make breakthroughs

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Ha Noi’s economy showed signs of recovery in May. According to a report of the municipal Department of Planning and Investment, most of the city’s production and business targets reported an improvement during the month compared to April. 

Specifically, the index of industrial production (IIP) rose by 12.3%, with 25 major industrial products recording output increases, 15 of which saw a growth of over 10%. Total sales of goods and service revenue expanded by 20.9%, while the export turnover surged by 4.7%. 

The transportation industry andsupport services reported an increase of 34.7% in revenue.

These significant results show that the local business community has quickly rediscovered their business and production pace. Among the factors creating a momentum for ent erprises are the support measures taken by the Government and the Ha Noi authorities. A representative of Delta International Co., Ltd. (Dong Da district) stated that, thanks to the Government’s Decree No. 41/2020/ND-CP, businesses are entitled to tax payment rescheduling and postponement from March to June, which is considered a “ventilator” helping the unit overcome this difficult period.

Regarding capital and interest rate support solutions, a representative of the State Bank of Viet Nam (SBV) – Ha Noi branch said that following the directions of the Government and the SBV, credit institutions in the city have stepped up the implementation of measures to support customers affected by COVID-19, deploying credit packages with preferential interest rates to assist businesses, restructuring debt payment deadlines, providing interest exemption and reduction, and temporarily maintaining the debt group concerning relevant loans. 

In terms of taxes and fees, Director of the Ha Noi Tax Department Mai Son said that the unit hast has developed a database of taxpayers entitled to payment extension and support, in addition to instructing taxpayers to apply for extension via the electronic tax system, and receiving and handling taxpayers’ dossiers asking for extension and support in a timely fashion.

Up to date, 11 circulars have been issued, reducing fees and charges for businesses in diverse fields.

Bach Thang Long, CEO of Garment 10 Corporation, assessed that Viet Nam opens the door after the pandemic earlier than other countries around the world, which is a great advantage and a golden time for domestic firms to create breakthroughs, at least compared to businesses from ASEAN countries.

By Vien Nhu