Latest News about support package
Two months have elapsed since the issuance of Resolution128 which said Vietnam needs to ‘live together with the pandemic’. Production has gradually resumed and positive signs in the economy are reappearing.
A gigantic economic recovery and development programme worth nearly $35 billion is expected to drive the economy to a higher level of growth.
There is still room for Vietnam to implement bailout packages and restore the economy, but there is not much time left.
The bailout in 2008-2009 pushed the national economy to a high inflation rate in following years, once climbing to 18 percent.
Economic expert Pham Chi Lan said that financial solutions to support pandemic-affected businesses this year have not yet learned from the irrationalities of 2020.
The Ministry of Finance has advised the Government to launch a demand stimulus package through an interest-rate subsidy, worth VND20 trillion a year and VND40 trillion for two years.
The Ministry of Planning and Investment has proposed a post-pandemic economic recovery and development program costing some VND800 trillion, 3.5 times higher than the Government’s package in 2021.
The Government and relevant ministries are working on stimulus packages to support businesses and stimulate economic development.
The latest Resolution 406/NQ-UBTVQH15, issued by the National Assembly on October 19, is regarded as a correct and timely policy, and was well received by enterprises.
After the pandemic is gradually put under control in many provinces, local authorities and businesses are striving to get the economy back to normal. However, for businesses, to resume operation, capital for production
National Assembly (NA) Chairman Vuong Dinh Hue has signed for issuance a resolution of the NA Standing Committee on a number of solutions to support businesses and people affected by the COVID-19 pandemic.
In a bid to help the country recover after the economy grew at a very low level in the third quarter, a huge financial support package is to be offered to enterprises whose performance is a backbone of economic growth.
Minister of Planning and Investment Nguyen Chi Dung has been assigned a difficult task – drafting a program on recovering and developing the economy in association with improving economic autonomy in 2022-2023.
Thu Duc City, together with 21 districts and 312 wards and communes across HCM City, are rushing to review the details of eligible recipient groups for a support package.
Within two months, the National Assembly Chair Vuong Dinh Hue convened two urgent meetings of the National Assembly Standing Committee to release unprecedented resolutions to fight the pandemic.
The competent agencies are considering a relief package worth VND100 trillion, offering loans with an interest rate of 3%-4% for enterprises hit by the pandemic, but there have been concerns over the feasibility and deployment of the package.
Actions are needed now to save businesses, or it will be too late, enterprise associations say.
The National Assembly Standing Committee yesterday continued discussions about the best ways to support businesses and people affected by the COVID-19 pandemic.