In the spirit of accompanying enterprises to overcome difficulties, Prime Minister Pham Minh Chinh recently chaired a virtual conference with the business community and local authorities on continued measures to support businesses.
The conference was also an opportunity to further discuss solutions towards boosting production and businesses, maintaining jobs for workers, and ensuring social security, helping to realise the principle of safely adapting to the pandemic.
According to the Ministry of Planning and Investment (MPI), the support policies stipulated in Resolution 105 have been welcomed by both domestic and foreign enterprises and are expected to help remove the obstacles facing the business community.
Speaking at the conference on September 26, Chairman Vu Duc Giang of the Vietnam Textile and Apparel Association (Vitas) stated that manufacturing should be resumed as soon as possible, especially for enterprises with many workers who have already been fully vaccinated. It is necessary to allow enterprises to take charge of testing in accordance with the Ministry of Health’s guidelines. The government, for its part, should ensure that the transport network, including air and waterways, is uninterrupted throughout the country.
Co-chairman the Vietnam Business Forum and the Japan Chamber of Commerce and Industry in Vietnam Tetsu Funayama suggested that Vietnam should accelerate vaccination to restore the supply chain, allow vaccinated workers to travel between their place of residence and place of work. In addition, transport should be restored, restrictions lifted for vaccinated people, and vaccination priority given to those involved in the transportation of goods.
Minister of Planning and Investment Nguyen Chi Dung asked the Ministry of Health to promptly issue guidelines on the roadmap for returning to the new normal to facilitate enterprises that meet pandemic prevention rules to organise the resumption of their production and business as soon as possible. Specific guidelines on safe manufacturing conditions in a new situation are needed for enterprises and local governments to follow.
Governor of the State Bank of Vietnam Nguyen Thi Hong said that the central bank will focus on measures to cut costs and ensure credit supply for enterprises. As of September 21, credit grew by 7.24% compared to the end of 2020, much higher than the growth of 4.99% recorded in the same period last year. Since the start of the year, the banking system has cut interest rates worth VND26 trillion (US$1.14 billion). In the coming months, the central bank may consider raising the credit growth target above 12% if needed on the basis of ensuring system safety.
Minister of Industry and Trade Nguyen Hong Dien stated that if the economy is not reopened promptly, enterprises will lose orders and markets, noting that reopening is not only for the sake of economic development but also for political and social stability as enterprises are reaching their limits and the people are facing great difficulty.
He said the ministry backs the government’s new principle of conditional reopening in order to promote economic development, adding that as the role of enterprises is extremely important, it is necessary for both the government and enterprises to implement the reopening plan in a synchronous and serious manner.
Minister of Transport Nguyen Van The proposed raising the number of workers allowed to work at seaport and give them priority in the vaccination drive in order to ensure the normal export-import activities and clear up goods stored at such ports.
The Vietnam Chamber of Commerce and Industry suggested that support policies need to focus on reconnecting supply chains, strengthening regional linkage, providing cheap loans, sharing the costs of business resumption, minimising layoffs, increasing the self-recovery capacity of household businesses as well as small and ultra-small companies, and stimulating private consumption.
Policies concerning tax breaks and exemption, debt relief, supply chain restoration, expanding the mechanism to boost investment, and bolstering consumption should be urgently implemented.
The government, ministries and agencies need to determine the digital economy as a growth driver and create mechanisms to promote e-commerce, support innovations and digital transformation. It is also necessary to promote the development of the domestic market and strengthen the connection between trade associations in using each other’s products.