Proposing a series of special, specific mechanisms specifically for the...

Examining specific mechanisms and policies, especially for private economic development

On the afternoon of May 12, the National Assembly's Economic and Financial Committee held its second plenary session to examine the National Assembly's Draft Resolution on a number of specific mechanisms and policies, especially for the development of the private economy (Draft). The examination session was attended by Vice Chairmen of the National Assembly Nguyen Duc Hai, Vu Hong Thanh and Deputy Prime Minister Nguyen Chi Dung.

Presenting the Draft Report, Deputy Minister of Finance Nguyen Duc Tam said that the Draft institutionalizes 5 major policy groups, which are: Improving the business environment; supporting access to land resources and production and business premises; supporting finance, credit and public procurement; supporting science, technology, innovation, digital transformation and human resource training, supporting the formation of medium and large enterprises and pioneering enterprises.

Consisting of 7 chapters and 17 articles, the Draft stipulates a number of specific mechanisms and policies, especially for private economic development, applicable to enterprises, business households, business individuals and other relevant organizations and individuals.

Deputy Minister of Finance Nguyen Duc Tam presented the Draft Resolution

Due to the need to handle urgent matters of the country in the new context, the need to institutionalize the Party's policies stated in Resolution No. 68-NQ/TW, the draft Resolution was developed according to the simplified procedures and order under the Law on Promulgation of Legal Documents. Accordingly, the Government submitted the draft Resolution to the National Assembly for comments and approval at the 9th Session according to the one-session process - the Deputy Minister of Finance reported.

Appreciating the Government's urgency in proposing the Draft, many opinions at the review session contributed additional comments to complete it before submitting it to the National Assembly.

Regarding specific content, the Draft stipulates some quantitative contents, such as high-tech enterprises in the private economic sector, small and medium enterprises, and innovative startups are supported with a minimum reduction of 30% of land rental fees within the first 5 years from the date of signing the land lease contract with the investor in the business of industrial park infrastructure, industrial clusters, and technology incubators. This land rental support amount is refunded by the State to the investor according to Government regulations.

Provincial People's Committees, based on the actual situation, determine the land fund for each industrial park and industrial cluster to ensure an average of at least 20 hectares/industrial park or cluster or 5% of the total land fund invested in infrastructure for high-tech enterprises in the private economic sector, small and medium enterprises, and innovative startups to lease.

In Article 9, the Draft stipulates that Enterprises in the private economic sector, business households, and individual businesses are supported with an interest rate of 2%/year when borrowing capital to implement green, circular projects and apply the environmental, social, and governance (ESG) standards framework.

Some regulations need to be more specific.

Delegate Tran Hoang Ngan (HCMC) said that it is necessary to specify this content, clarifying the method of direct or indirect support, otherwise it will be very difficult to implement because experience shows that the effectiveness of support by this policy in the past was very low.

Delegate Tran Van Khai, Vice Chairman of the National Assembly's Committee on Science, Technology and Environment, proposed amending Article 9 to expand the scope of interest rate support of 2%/year to include large-scale technology innovation and digital transformation projects of private enterprises.

For example, add: “Enterprises are supported with an interest rate of 2%/year when borrowing capital to implement innovation projects, digital transformation projects, or green, circular projects that meet ESG criteria…”.

This will encourage businesses to boldly invest in new technology and digital transformation, not just limited to the environmental field, thereby promoting productivity and competitiveness - Mr. Khai suggested.

Delegates attending the meeting

Delegate Khai also proposed to increase tax incentives for clean technology and green economy (Article 12). Specifically, businesses are allowed to deduct 150% of expenses for innovation and technology upgrade activities to save energy, reduce pollution, and protect the environment when calculating corporate income tax.

This incentive goes hand in hand with R&D cost incentives, thereby encouraging businesses to invest in clean production technology and improve processes for sustainable development, Mr. Khai commented.

The draft needs to add regulations on the national credit guarantee fund for small and medium enterprises, Dr. Can Van Luc, Chief Economist of BIDV proposed.

Mr. Luc also suggested considering adding more regulations on the small and medium enterprise development fund, specifically the National Assembly needs to assign the Government to take measures to increase financial capacity and improve the fund's efficiency.

It is necessary to change the fund's charter to promote its effectiveness, said Mr. Nguyen Van Than, Chairman of the Association of Small and Medium Enterprises.

Delegate Than said that the Draft needs to have a chapter on the responsibilities of officials and civil servants in performing tasks related to the private economy, because they advise on resolving work and bottlenecks, and if they are slow, it will greatly affect businesses.

Some other regulations, according to some opinions at the review session, also need to be more specific.

For example, exemption from physical inspection for enterprises that comply well with legal regulations (stipulated in Article 5 on Principles of inspection and examination of enterprises, business households, and business individuals). So what is a good enterprise, it must be clarified, Mr. Luc suggested.

Deputy Prime Minister Nguyen Chi Dung speaks

Speaking at the meeting, Deputy Prime Minister Nguyen Chi Dung said he listened very carefully to the opinions of the participants. According to the Deputy Prime Minister, the most difficult thing is to classify and separate what content is institutionalized in the Draft, what content is included in the laws being revised, and what content will continue to be revised.

Stating that the business community highly appreciates Resolution 68 and expects the National Assembly's Resolution and the Government's action program to soon put the policy into practice, the Deputy Prime Minister requested the Ministry of Finance to review each group of policies and concretize them as much as possible so that when there is a resolution, a plan can be issued and resources allocated for immediate implementation.

Appreciating the support of the Ministry of Finance and the National Assembly's agencies in the preparation, Vice Chairman of the National Assembly Vu Hong Thanh suggested that the two sides continue to coordinate so that the policies ensure feasibility and consistency of the legal system.

We do not expect the Resolution submitted to the National Assembly to fully institutionalize Resolution 68, but need a roadmap to amend inappropriate regulations, Vice Chairman of the National Assembly Vu Hong Thanh emphasized.

Source: https://baodaknong.vn/de-xuat-loat-co-che-dac-biet-dac-thu-danh-rieng-cho-kinh-te-tu-nhan-252369.html