The ‘Business Dialogue’, which aims to handle some issues of deep concern to Da Nang-based businesses and seek more effective ways to drive their growth, will take place on Friday, September 24, with the participation of about 1,000 participants. The forthcoming event is promised to offer a good opportunity for the local authorities to listen to and sort out any obstacles and difficulties facing businesses, thereby helping them promote their trade and production activities, as well as to collect their constructive opinions about furthering the city’s progress. For the time being, relevant local agencies are urgently synthesizing businesses-made recommendations that need resolving with appropriate solutions.

Financial support policy is a matter of concern to businesses. Here is a work scene of the Chau Da Co., Ltd based in Hoa Cam Industrial Park, Cam Le District. Photo: M.QUE

Many recommendations raised by businesses

Since the start of September, the municipal Department of Planning and Investment received recommendations from 27 businesses on such issues of deep concern as vaccination for workers, COVID-19 testing for employees on duty under the ‘3-on-the-spot’ (on-site production, on-site dining, on-site resting) approach, financial support, supportive policies for workers, supply chain and transportation, production recovery and entry procedures for foreign workers and experts. 

The Da Nang Young Entrepreneurs Association, for example, has proposes a reduction of loan interest rates by at least 2%, freezing existing short-term debts for 3-6 months, medium- and long-term debts  6-12 months so as to prevent them from falling into the bad debt group.

At the same time, heed must be paid to deploying preferential credit packages for businesses, lowering interest rates and simplifying loan procedures to help them access capital easily, and approving tax payment extension from 12 to 18 months and the exemption and reduction of taxes, land rental fees and infrastructure use in industrial parks.

The Association also urged the municipal administration to give the green light to suspending and reducing social insurance premiums set in 2021 until early 2022, and facilitate local enterprises’ staff to get vaccinated against COVID-19 this month as well as approve the further easing of COVID-19 restrictions and curbs to support enterprises to resume production and business activities to their full potential as soon as possible.

Meanwhile, another business agency, the Da Nang Road Transport Association underlined a need for the local government to support businesses to boost digital transformation in terms of human resource training fees, preferential interest rate loan packages for the development of business administration software and supporting businesses to go ‘green’ according to national standards and the Greater Mekong Subregion (GMS) requirements, and the reduction of road maintenance fees.

Enterprises are looking forwards to witnessing solutions to problems and difficulties facing them to restore production. Production activities are observed at the Da Nang branch of Scavi Hue Company in Da Nang Industrial Park, Son Tra District. Photo: K. HOA

Urgently synthesising recommendations and taking solutions

According to Mr. Pham Truong Son, Head of the Authority of Hi-Tech Parks and Industrial Zones (IZs), over the past time, injection points have been set up in the Hoa Khanh Industrial Park in Lien Chieu District, and the An Don Industrial Park in Son Tra District to administer COVID-19 vaccines to eligible employees operating there, thus contributing to meeting the maximum injection capacity and ensuring completion in the shortest time.

As for financial support policies. Mr. Vo Minh, the Director of the Da Nang branch of the State Bank of Viet Nam said that this unit is directing commercial banks across the city to implement the approved amendments to Circular No. 01/2020/TT-NHNN, which took effect on September 7, 2021. In particular, the debt restructuring time is extended by 6 months to June 30, 2022, instead of December 31, 2021 as previously prescribed.

Meanwhile, the Da Nang Tax Department is actively implementing Decree No. 52/2021/ND-CP adopted by the national government in April.

The Decree proves extension of time limits for payment of value-added tax, corporate income tax, personal income tax, and land rent fees to support businesses and people suffering from the COVID-19 pandemic.

The Decree is applicable to enterprises operating in agro-forestry-fishery, food processing, textile, crude oil and natural gas exploitation, water supply and treatment.

Under the Decree, a five-month extension is given to value-added tax of the assessment periods of March, April, May, June, the first quarter and the second quarter this year.

Timeframe for payment of value-added tax of July and August shall be extended by four and three months, respectively.

Payment of corporate income tax in the first and second quarters shall be extended by three months, according to the Decree.

Reporting by MAI QUE – Translating by A.T