Ho Chi Minh City: aid and support measures for businesses
The drop in global demand is affecting the exports of companies in Ho Chi Minh City. To help them get out of the crisis, the Municipality has put in place numerous aid measures.
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| Ho Chi Minh City applies many aid and support measures to businesses. |
| Photo : VOV/CVN |
According to Huynh Van Duc, general manager of metal products manufacturing company VINAVIT, from the end of 2022 until now, his company’s output has decreased by 40 percent due to lower orders. He wishes to receive aid from the government in order to overcome the difficulties.
“We hope that the city quickly applies support measures to companies in difficulty. The most seriously affected must in particular benefit from stronger and faster support”he pointed out.
To help companies better export, Ho Chi Minh City intends to strengthen trade promotion in Vietnam and abroad. Bùi Ta Hoàng Vu, director of the Municipal Service of Industry and Trade, said that an international export fair would be organized soon in the southern megalopolis.
“We try to diversify outlets while exploiting our target markets. We will organize overseas market research missions and remove barriers to facilitate business exports,” he let know.
For their part, banks have reduced lending rates to facilitate access to bank loans for businesses. Nguyên Ngoc Hoa, President of the Ho Chi Minh City Business Association proposes: “We hope that banks will accept raw materials, finished products and stocks as guarantees and if possible a restructuring or debt rescheduling for companies in difficulty”.
As the economic engine of the country, Ho Chi Minh City must provide better support to businesses to restore its economy in particular and that of the country in general.
VOV/VNA/CVN
