(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.
Currently, Luong Son district counts 905 business establishments operating in industry and handicraft, helping generate jobs and stable incomes for local labourers.
Hoa Binh scored the highest points in two out of the eight indicators of the Public Administrative Reform (PAR) Index ranking in 2023 that the Ministry of Home Affairs announced on April 17.
A working delegation from Hoa Binh province led by Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Van Khanh is attending a programme to popularise Vietnamese products in the US and Canada on April 20-28.
Anyone found to be encroaching upon the forest, even if it is just one bamboo shoot, will face penalties. This commitment has been unanimously added into the covenant of Bua Cau hamlet, Hung Son commune in Kim Boi district, to protect the forest.
The Hoa Binh Power Corporation (PC Hoa Binh) has applied synchronous measures to gear up for the coming summer season when power consumption demand surge may cause a risk of power supply disruption.
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