Businesses need more support.

The business community and entrepreneurs in the province are currently facing many difficulties, especially after typhoon No. 3. Quang Ninh province has been implementing many urgent solutions to overcome difficulties and gradually restore production and rebuild the economy .

Agribank's Quang Yen branch disburses loans to customers.

Along with issuing policies to support the people, the province has established a working group to develop a plan for restoring and rebuilding the economy after Typhoon No. 3, headed by the Chairman of the Provincial People's Committee, and striving to complete the plan in 2024. The province has also established a working group to develop policies to support and mitigate the consequences of Typhoon No. 3 in the province; organized direct working meetings with businesses, production and business establishments, and banks to discuss solutions for handling debts for businesses and people, solutions for consuming damaged timber from planted forests, solutions to support people in agricultural , forestry, and marine production, solutions to resolve difficulties and obstacles for businesses and tourist boat owners, etc., and solutions for economic development to ensure the set growth targets are met.

In particular, the Provincial People's Committee issued Document No. 2762/UBND-KTTC (dated September 21, 2024) reporting and proposing recommendations to the Prime Minister for consideration and direction to relevant ministries and agencies.   unit   Regarding early research and consultation, several specific and sufficiently strong mechanisms and policies should be issued to support sectors and fields severely affected, in addition to the contents of Government Resolution No. 143/NQ-CP (dated September 17, 2024) on supporting agricultural and forestry production. These include debt restructuring for borrowers at credit institutions, mechanisms for unsecured loans, loans without collateral, and support for businesses and households to partially cover the costs of salvaging and repairing damaged or sunken vessels. Quang Ninh Province commits to implementing support programs for businesses to recover after natural disasters according to central government guidelines, to the maximum extent possible.

Following directives from the central and provincial governments, banks in the province have actively implemented numerous support programs, such as: preferential interest rates of only 5.5% for new loans; waiver of early repayment fees; and reductions of 0.5-2% interest per year for existing loans... helping businesses stabilize their finances, reinvest, and rebuild production activities. As of September 30th, outstanding credit in the province reached VND 192,000 billion, an increase of 8.4% compared to December 31st, 2023. Of this, outstanding loans to the state-owned economic sector reached VND 22,815 billion, accounting for 12%; outstanding loans to the non-state economic sector reached VND 167,313 billion, accounting for 76.8% of the total outstanding loans, an increase of 7.4% compared to December 31st, 2023. Outstanding loans for living expenses and consumption reached VND 43,589 billion, an increase of 1.9% compared to December 31, 2023.

Ms. Vu Nhat Dung, Director of Agritech Joint Stock Company (Ha Long City), shared: "As a business operating in the agricultural sector, our company was severely affected after the storm. All greenhouses, seedling cultivation areas, and laboratories were damaged. Agribank promptly adjusted the interest rate on our existing loan, reducing it by 0.5%. At the same time, they provided maximum support to help us access an additional loan of 1-2 billion VND with preferential interest rates to resume production in time, ensuring we have enough orchids to meet market demand for this year's Tet holiday."

Nhat Long Joint Stock Company (Ha Long City) has successfully repaired 10 shrimp ponds.

Capital is considered the lifeblood of businesses. However, after typhoon No. 3, the biggest challenge for businesses in the province currently is the lack of capital for reinvestment, rebuilding and repairing facilities, and restoring production.

Mr. Ngo Hung Dung, Director of Tan An Aquatic Products Joint Stock Company (Quang Yen Town), said: "Capital is considered the lifeblood of a business. Typhoon No. 3 caused approximately 70 billion VND in losses to my company. Although banks have reduced interest rates on existing loans, the financial burden on the company remains very significant. Repairing and rebuilding infrastructure in the aquaculture area, including ponds, net houses, electricity, roads, and buildings, requires a considerable amount of money. Therefore, the company hopes that the central government will soon develop policies and mechanisms to support credit for businesses, prioritizing debt deferral, postponement, and restructuring; and quickly provide guidance, regulations, and directives to effectively implement Resolution 143/ND-CP (dated September 17, 2024) on key tasks and solutions to urgently overcome the consequences of Typhoon No. 3 and accelerate the restoration of production and business."

Mr. Bui Huy Tung, Deputy Director of Nhat Long Joint Stock Company (Ha Long City), shared: Since Typhoon No. 3, the company has been striving to repair the infrastructure of 10 out of 60 shrimp ponds. Taking advantage of the warm weather, the company has been stocking shrimp fry as soon as repairs are completed. However, due to a lack of capital and manpower, the amount of shrimp fry released has only reached 30% of the plan. Currently, the company has received interest rate reductions from banks and is processing loan procedures for over 1 billion VND in additional capital. The company hopes that the central government and banks will soon consider removing the conditions for loans without collateral, and at the same time, increase the loan limit to help the business have more capital for reinvestment, stabilize production, and recover after the typhoon.

Source: https://baoquangninh.vn/doanh-nghiep-can-them-su-ho-tro-3324068.html