PM Proposes Measures to Remove Difficulties for Private Sector Amidst Covi-19 Prevalence

10:20:39 AM | 13/3/2020

A number of measures to remove difficulties for businesses were proposed by Prime Minister Nguyen Xuan Phuc during a meeting between the government leader and representatives from key private economic groups in Hanoi on March 12.

Hosted by PM Phuc, the meeting also aimed to seek suggestions from the business community to deal with the prevalence of the new coronavirus disease (Covid-19), as well as recommendations to help the Government build a better environment for business development.

At the meeting, representatives from enterprises highly appreciated the efforts from the Government and localities in the prevention and control of Covid-19. They also expressed their willingness to support the Government in ensuring the dual goals of successfully combating the epidemic and ensuring socio-economic development.

In the immediate future, efforts will be made to overcome difficulties to boost production and exports, as well as ensuring stable employment and the supply of all essential commodities to the community, they said.

They also proposed the Government create favourable conditions related to monetary and fiscal policies, such as exemptions, postponement and extension of taxes, fees, charges, as well as the reduction of interest rates, so that enterprises have the ability to recover during this difficult period.

Empathising with the difficulties of Vietnamese enterprises, PM Phuc emphasised that the Government would take suggestions from the business community on board to better its policies in the spirit of creating favourable conditions and removing difficulties for their development, as well as ensuring social security and the combat of the epidemic.

Reaffirming that creating favourable conditions for enterprises to develop, ensuring employment and stabilising the macro economy is an important task for the Government at this time, PM Phuc also suggested enterprises restructure, apply technology, enhance cooperation and share both risks and profits with each other during the Covid-19-hit period.

 “The epidemic is still complicated but it will have to be tackled, so it is necessary to seize the opportunity, especially from the new-generation FTAs, while focusing on the domestic market to ensure the supply of the necessities for people in any eventuality. That's a big request from the Government,” PM Phuc stated.

He also pledged to develop a comprehensive enterprise support programme on exemptions, reduction, extension and deferral of taxes, fees and loan interest for businesses, in addition to preparing a comprehensive economic recovery plan during the post-epidemic period, focusing on stimulus programmes and support based on monetary and fiscal policy.

The PM asked businesses to have contingency plans to ensure their continuous and uninterrupted operation, while maintaining good restructuring, corporate governance and cooperation.

The cabinet leader also recommended the National Steering Committee for Covid-19 Prevention and Control review its measures to ensure strict but flexible control, thus making favourable conditions for international experts and investors to come to Vietnam.

Solid anti-epidemic work should be maintained, but socio-economic development must be also ensured, he said, adding that the business community’s faith in the Government is important and his cabinet would listen to their recommendations to make appropriate adjustments in each period.

 

Source: NDO