(HBO) - The provincial Business Association and the State Bank of Vietnam's Branch in Hoa Binh province hold a meeting on August 5 to discuss solutions to remove difficulties for businesses affected by the COVID-19 epidemic.
Photo: Representatives of the provincial Business
Association suggested the implementation of preferential credit policies to
support businesses to overcome difficulties.
At the meeting, representatives of the provincial Business Association and
enterprises agreed that given complicated developments of the COVID-19
pandemic, companies face a lot of challenges. Many enterprises had to suspend
operations.
Enterprises proposed a number of recommendations to remove difficulties,
including increasing debt restructuring time, expanding the list of
beneficiaries of incentives for extension, postponement, and reduction of
interest rates for enterprises operating in the fields of investment,
construction and real estate.
It was necessary to consider reducing the interest rates to the maximum level
for all loans at banks as currently, some banks have reduced while others have
reduced a little or not yet doing so. The guarantee fees and loan commitment
fees should also be lowered. There should be a flexible mechanism in medium and
long-term loans secured by assets formed in the future.
The collaterals at banks as real estates should be re-evaluated to be relevant
to the market so that enterprises have the opportunity to borrow more capital
while administrative procedures should be simplified to facilitate businesses
access to the 26-trillion VND support package, the businessespeople said.
They asked for the removal of collaterals for loans for construction works
funded by public investment capital when a decision on capital allocation has
been made. The implementation of activities to support businesses affected by
the COVID-19 pandemic should be sped up, they added.
Leaders of the State Bank of Vietnam (SBV)’s Branch in Hoa Binh province
exchanged and shared difficulties that businesses were facing and received
suggestions to study and report to the SBV for solutions to solve their
problems.
In the coming time, the SBV will continue to direct commercial banks and credit
institutions to effectively implement activities to support businesses affected
by the COVID-19 pandemic and organise a signing ceremony on coordination
regulations between the SBV’s Branch in Hoa Binh and the provincial Businesses
Association to ease difficulties for enterprises.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
The inspectorate agency of Hoa Binh province has issued Official Dispatch No. 1090/TTr-PCTN to provincial departments, agencies, localities, business associations, enterprises, and investors regarding measures to improve informal component indexes of the Provincial Competitiveness Index (PCI).
Hoa Binh is taking concrete steps to improve its investment environment, with a strong focus on supporting businesses, settling obstacles for strategic investors, and creating opportunities for robust development in the coming years.
Under the blazing early summer sun, the construction site of Nhuan Trach Industrial Park (IP) in Luong Son district is abuzz with activities from dawn to dusk, a testament to the determination of the investor to meet their construction targets on schedule.
