The Prime Minister has recently requested implementation of solutions to remove difficulties for production and business so as to ensure social welfare and security in response to the COVID-19 pandemic.
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| Prime Minister Nguyen Xuan Phuc addresses the Government’s February 2020 regular meeting__Photo: VNA |
Under Directive 11 dated March 4, the Government leader requests the State Bank of Vietnam (SBV) to direct and promptly guide credit institutions to provide sufficient capital needed for production and business, accelerate administrative procedure reform, shorten the time for examining loan applications, and facilitate customers’ access to loans. Banks are also asked to promptly apply supportive measures such as loan repayment rescheduling, interest-rate reduction and exemption, and charge reduction for customers that are affected by the pandemic. For the immediate future, a credit support package of some VND 250 trillion will be launched.
The SBV will have to coordinate with the Ministry of Industry and Trade (MIT) and Ministry of Finance (MOF) in proposing appropriate credit and incentive policies to help enterprises overcome difficulties to the Prime Minister in March.
It is also assigned to promote cashless payment, consider giving e-payment service charge exemption and reduction to service users, particularly online public administrative service users, and provide on a pilot basis mobile money services for payment of charges for small-value services.
Meanwhile, MOF is tasked to propose fee and charge reduction and exemption plans to the Government to help entities affected by the pandemic, propose to competent agencies solutions related to taxes and state budget spending, first of all, a package of some VND 30 trillion to help solve business difficulties and ensure social security in the anti-pandemic context.
A decree will be soon enacted to extend time limits for payment of land taxes and rentals for affected people and entities.
The Prime Minister also requests sectors and localities to review and reduce administrative procedures and costs for enterprises; create favorable conditions for maintaining normal production and trade, boosting import and export, and rehabilitating air transportation and tourism after the pandemic is controlled; and accelerate the disbursement of investment capital, improvement of the business environment, and removal of labor-related difficulties.- (VLLF)
