At the discussion session on the morning of May 16 on the draft Resolution of the National Assembly related to mechanisms and policies for private economic development, many delegates made recommendations to promote this sector to become an important driving force of the economy.

Delegate Tran Hoang Ngan (HCMC) said that on average, we only increase about 30,000 to 40,000 businesses each year. To achieve the goal of having 2 million businesses by 2030, special solutions are needed.

Delegate Ngan proposed that there should be a policy to support individual business households to convert to enterprise form; at the same time, increase and expand the number of large-scale enterprises.

Similarly, Article 5 of the draft stipulates a clear distinction between the responsibilities of legal entities and those of individuals, as well as between criminal and administrative responsibilities, and between administrative and civil responsibilities. This is something that businessmen are very concerned about.

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Delegate Tran Hoang Ngan. Photo: QH

Regarding Chapter III, Mr. Ngan proposed adding a regulation requiring localities with land potential to create conditions for the establishment or expansion of industrial parks for private enterprises, especially small and medium enterprises, to rent at preferential prices.

“This is very important because at present, our goal is to become a developed country with high income but must be economically independent and self-reliant. To be independent and self-reliant, the private economic sector must grow, and there must be a mechanism to support private enterprises in accessing credit and land. Therefore, there needs to be a provision to encourage localities to create clean land for the private sector,” said Delegate Tran Hoang Ngan.

According to Mr. Ngan, the interest rate support policy must be very clear, because in the past, many policies were issued but were not effective. It is necessary to clarify the support mechanism from the budget so that commercial banks have a basis to disburse loans to businesses.

Regarding the difficulty for businesses in accessing credit capital, Vice Chairman of the Committee for Culture and Society Ta Van Ha cited that young people wanted to borrow 2 billion VND from banks to support their start-ups, but the policy stipulates that they must create jobs for 20 workers. This is a very difficult regulation to implement.

Mr. Ha also commented on the selection of contractors, the draft regulation stipulates that for projects under 20 billion, priority is given to small and medium enterprises. However, according to the Law on Support for Small and Medium Enterprises, this group of enterprises includes enterprises with annual revenue under 300 billion VND and less than 200 employees.

“For businesses with annual revenue of VND300 billion, the value of a VND20 billion package is not really significant. Therefore, this support should be prioritized for small and micro enterprises, which is more appropriate and effective,” Mr. Ha stated.

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Delegate Ta Van Ha. Photo: QH

Delegate Ha also proposed the stability of policies. “New start-ups face difficulties in all conditions, but policies are unstable and constantly changing. Policies must be 5 years, 10 years, 15 years or even longer for a start-up to be successful. Now, if we invest resources and the policies change, it is like returning to the starting point, which is very difficult,” he said.

Agreeing with the proposal to support businesses in accessing credit, Delegate Nguyen Viet Ha ( Tuyen Quang ) said that the Resolution should encourage credit financial institutions to lend based on the appraisal of production and business plans, plans to expand output markets; lending based on cash flow data, value chains and consideration of collateral assets...

The form of lending can be unsecured or encourage credit institutions to reduce interest rates for private enterprises in implementing green projects, circular projects and applying environmental and governance standards.

“These contents, if institutionalized, will help credit institutions have a clear legal basis to simplify appraisal processes, implement interest rate incentives and expand capital supply to the private economic sector,” said Delegate Nguyen Viet Ha.

Source: https://vietnamnet.vn/chinh-sach-ho-tro-lai-suat-voi-doanh-nghiep-tu-nhan-can-ro-rang-2401748.html