PM issues directive requesting removal of difficulties for business activities

The directive states that the epidemic continues to see complicated and unpredictable developments and an increased spread throughout many countries, affecting the global economy and major partners of Vietnam.

The Prime Minister requested a continuation of the spirit of "fighting the epidemic like fighting an enemy".

The government leader demanded an all-out effort to prevent the spread of the epidemic and specific and effective solutions to ease difficulties for production and business activity whilst ensuring social security and the fulfillment of socio-economic development goals.

The Prime Minister put forth solutions to remove difficulties for enterprises including facilitating access to capital and electronic payment, in particular a credit support package of about VND250 trillion (US$10.85 billion).

The State Bank should direct credit institutions to fully and promptly meet enterprises’ capital demands for production and business activities, shorten the time for approval of loan dossiers, reschedule loan repayment terms, consider the reduction of interest rates, and others for customers affected by the epidemic.

The PM also asked for a review and reduction of administrative procedures to reduce costs for enterprises.

Prices of raw materials for production managed by the Government will not increase in the first and second quarter of 2020.

PM Phuc also requested measures to promote import and export activity and promptly regenerate the tourism and aviation industries while accelerating the disbursement of investment and improving the business environment.

He also wished to deliver the message of ‘Vietnam is safe’, affirming that Vietnam is a safe destination and always creates favourable conditions for tourists and investors.