Vietnam PM to hold dialogue with business community as coronavirus ravages economy
The dialogue is a way to show the government’s strong support to enterprises at a time of crisis.
As the Covid-19 pandemic is causing severe impacts on the country’s socio-economic conditions, Vietnam's Prime Minister Nguyen Xuan Phuc has said a dialogue between him and the business community is significant to help the economy recover.
| Prime Minister Nguyen Xuan Phuc. Source: VGP. |
The dialogue is a way to show the government’s strong support for enterprises in the time of crisis while reaffirming Vietnam’s determination to realize the dual target of containing the pandemic and boosting economic growth, stated Phuc in a recent announcement.
According to Phuc, the event would be carried out online and live broadcast so that he could promptly address businesses’ concern. Based on the conclusion of the dialogue, the government would issue a new resolution detailing comprehensive measures to restart the economy.
Ahead of the event, Phuc requested the Government Office to prepare reports on the ongoing efforts towards administrative reform and improving the business environment.
The Ministry of Finance is tasked with proposing new measures to support enterprises, especially in terms of fiscal policy, reducing and waiving taxes and fees.
The Ministry of Industry and Trade continues to ensure sufficient supply of input materials for domestic production; boost exports and diversify trade markets; preferential treatments for economic sectors affected by the pandemic; accelerate the construction of large-scale industrial and energy projects.
The State Bank of Vietnam is responsible for proposing monetary measures in forms of interest rate reduction and credit support for enterprises while ensuring macro-economic stability.
The Ministry of Information and Communications is expected to provide measures to promote the development of digital firms, e-commerce products and e-payment, among others.
The Vietnam Chamber of Commerce and Industry is tasked to collect and analyze recommendations and concerns of business associations and measures to address them.
Vietnam's GDP expanded 3.82% in the first quarter this year, the lowest over the past decade.
