Latest News about bailout
Poor sales, supply chain disruptions, revenue decreases and personnel cuts have all occurred to enterprises amid the Covid-19 pandemic.
Despite difficulties caused by Covid-19, many Vietnamese businesses have been able to survive and develop.
It would be unfair for others if only Vietnam Airlines can receive the state support, while others still struggling for survival.
The managers of large corporations have made big money recently as share prices have soared.
The Vietnamese economy has remained extremely resilient throughout the year despite the adverse impact of the novel coronavirus (COVID-19) pandemic, with import-export activities witnessing a gradual bounce back, according to insiders.
Surveys all show that the living conditions of many Vietnamese have become worse because of Covid-19. However, economists are not recommending a second support package.
Most enterprises say they are still experiencing a sharp decrease in revenue, cash flow imbalance and decline in confidence.
Despite the supporting policies soon ahead, state-owned transport giants will take some time to recover from the global health crisis as a fault in global supply chains remains apparent.
The Vietnam Railways Corporation (VNR) has asked the Government for a bailout of VND60 billion (US$2.5 billion) to support three local routes suffering devastating drops in travel demand due to COVID-19.
Giving every citizen VND1-1.5 million, which will be disbursed three times, to help cover basic needs is one of the initiatives that could help Vietnamese people overcome current difficulties.
Not putting high hopes on the interest rate cuts made by the State Bank of Vietnam (SBV) recently, the market is still waiting for a bailout to cover all business fields.
The Ministry of Labour, Invalid and Social Affairs has proposed the Government issue a 20 trillion VND (843 million USD) bailout package to soften the economic impact of the COVID-19 pandemic.