Dong Nai reviews two-month implementation of government’s support policies for businesses

(ĐN)- Secretary of the Provincial Party Committee Tran Dinh Thanh and Vice Chairman of the Provincial People’s Committee Dinh Quoc Thai have recently attended a meeting to review the two-month implementation of government’s support policies for businesses to prevent the economic downturn as well as boost production and business activities.

Up to the middle of March, local banks granted government-subsidised loans worth a total of more than VN3,900 billion for over 4,000 enterprises. The interest-rate subsidy of 4 per cent was just one of the Government’s policies to ease companies’ difficulties, and that the important thing now was to stimulate demand and generate consumer markets for enterprises. In addition, the provincial taxation department issued a circular to give guidance relating to tax relaxation, reduction and exemption at the end of February. In 2009, total state budget collection in the province is estimated to achieve a decrease of about VND 1,200 billion from last year. Total value-added tax collection in the first two months of this year was VND357 billion, a drop of 59 per cent from the same period last year.

According to information released by the Provincial Department of Labour, Ward Invalids and Social Affairs, some companies in the province cut their workforce by more than 9,300 people in the first quarter of the year. Despite the need to cut the workforce due to economic difficulties, another companies in the province plans to recruit about 25,000 laborers in the first half of this year.

Addressing at the meeting, Secretary Tran Dinh Thanh emphasized the need to provide support for enterprises to grow, sustain and expand their businesses as well as find new markets.

Reported by V.Lam