Credit support package of VND 250.000 billion and fiscal support package of VND 30.000 billion are about to be released to the market

At the regular Government meeting in February 2 on the afternoon of March 2020, the Prime Minister announced that two credit and Financial Assistance packages will be launched to support businesses affected by Covid-3 epidemic.

credit support

Credit support of VND 250.000 billion, fiscal support of VND 30.000 billion for subjects affected by Covid-19 epidemic

Prime Minister Nguyen Xuan Phuc said on March 4, he would issue a Prime Minister's Directive on urgent measures to promote business and production, prevent and combat Covid-3 and ensure social security.

The Prime Minister emphasized, "The general spirit is to assign specific tasks and solutions with clear addresses to implement immediately, not in general, around the circle".

Especially monetary, fiscal, trade, investment, administrative procedures reform and areas affected by the disease; Priority should be given to tourism, trade, services, aviation, and import and export as these industries are greatly affected. In parallel, supporting the victims caused by Covid-19, promoting economic growth again.

First of all, one low interest loan package of VND 250.000 billion and a financial support package VND 30.000 billion Such as financial rescheduling will be launched to assist. The solution this time is to take effect immediately to support businesses and people.

The Prime Minister clearly assigned tasks to ministries and branches to implement the solution

In the current context, the Government will continue to promote solutions to macro stability. At the same time, the Prime Minister asked the ministries and branches to come up with scripts and countermeasures for Covid-19 and the world situation in order not to be passive and surprised.

For monetary policy

The Prime Minister asked the State Bank to stabilize interest rates, exchange rates, foreign exchange market, gold market, continue to consolidate foreign exchange reserves, provide adequate and timely credit for production and business. Commercial banks need to share with the difficulties of people and businesses, reduce interest rates so that businesses can recover production.

For fiscal policy

The Prime Minister asked the Ministry of Finance: “Regarding the State budget finance, the Ministry of Finance and the ministries and branches review quickly to propose the exemption, reduction, extension and delay of late payment of taxes, fees and charges, in which extend the time for paying corporate income tax, land rent, social insurance. Particularly concerned are the industries and businesses affected by Covid-19.

For investment activities

Given the slow pace of disbursement of public investment, the Prime Minister asked the Ministry of Planning and Investment, the Ministry of Finance and the Government Office to prepare carefully the content for the national conference to review its responsibilities in this regard. right in the first quarter of 2020. With about 600.000 billion VND of public investment capital needed to disburse this year, this will be an important channel contributing to growth. Besides, it is necessary to continue promoting social investment, last year accounted for 34% of GDP, this year, this number must be higher.

For production activities

The Prime Minister asked the Ministry of Agriculture and Rural Development to submit a comprehensive plan early to boost agricultural exports and reduce costs for agricultural production.

In addition to the appropriate support policies on tax, credit, transportation, culture, sports and tourism reviewed, there are specific measures to support, encourage and reduce costs including transportation costs. ...

The Ministry of Labor, War Invalids and Social Affairs reviews and assesses the situation and needs of labor use of enterprises to have solutions to support, supply labor, overcome temporary labor shortage due to the impact of COVID- 19. Temporarily suspending the issuance of new work permits to foreign workers from epidemic areas during the time when Vietnam was announcing the outbreak of COVID-19.

The Prime Minister also suggested that information and communication work should contribute to creating social consensus, creating trust for the people, propagating examples of labor, production and fighting COVID-19. The authorities must strictly handle acts of false information.

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