HCMC to review preferential policies for manufacturing businesses - HCMC to review preferential policies for manufacturing businesses - Website Ho Chi Minh City
The HCMC People’s Committee on June 10 held a conference for city leaders to gather opinions from businesses affected by Covid-19 and discuss solutions to support them.
In addition, export turnover reached US$9.63 billion, up 15.1 percent over the same period, and the total state budget revenue was estimated at more than US$7.6 billion, reaching 47.85 percent more than estimations, up 22.8 percent over the same period.
Furthermore, it was suggested that HCMC soon issued its own support package including improving the business environment, reducing costs for businesses, taking care of social security for workers who lost their jobs and had to take leave, support enterprises to arrange temporary accommodation for workers, and supporting vocational training tuition.
On the other hand, HCMC needs to issue a specific support package for businesses that are heavily affected and have to stop production such as tourism and service industries during Covid.
Regarding commercial banks, it was suggested that they continue to consider debt rescheduling, reducing old debt interest rates and considering new loans at lower interest rates for companies.
They should also encourage unsecured lending for a number of industries facing difficulties due to the epidemic, encourage loans for investment in medical equipment, vaccine research, and treatment facilities, and sponsor businesses for raw materials for production and export.
Also, it is necessary to have a mechanism for retailers to shorten the time of payment to increase capital mobility of manufacturing enterprises, especially those producing essential products. The development of cold storage was also proposed.