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| Businesses believe that there should be specific policies to support business development. (Photo: Nhu Y) |
Need ordering policy for large enterprises
Chairman of Hoa Phat Group, Mr. Tran Dinh Long, said that the recent imposition of reciprocal tariffs by the United States on Vietnam has had an impact on the Vietnamese stock market and businesses in general. Although the United States has postponed the imposition of tariffs for 90 days, with the current volatile world situation, it is uncertain what will happen. For Hoa Phat, the spirit is to always be well prepared, methodical and very careful.
According to Mr. Long, the company's leaders have discussed, exchanged and set a target of 170,000 billion VND in revenue, an increase of about 21% compared to last year, and 15,000 billion VND in after-tax profit. This is also the highest level ever set by the enterprise but it is also a target to strive for and the group has not adjusted anything, still working normally even though the growth and profit each quarter from now until the end of the year are very high, must reach more than 4,000 billion VND/quarter.
Regarding how to achieve the 8% growth target in 2025, sharing with PV Tien Phong , Mr. Long said that the very good news for businesses today is that the Prime Minister has affirmed that the private economy is the main and most important driving force of the economy. In order for private enterprises to develop strongly and participate in the country's large projects, there must be priority mechanisms. As in Korea in the 1960s, the Government of this country had a very clear policy in nurturing and placing large orders for domestic enterprises. Thanks to these policies, Korea has global corporations. For Vietnam, to develop the economy in the coming time, it is necessary to learn from the Korean model to build "leading cranes" through placing large orders. "Basically, it is still necessary to place orders. This is the root of all problems. If you want to nurture large enterprises, this is the only way," Mr. Long said.
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Associate Professor, Dr. Nguyen Van Viet, Chairman of the Vietnam Beer - Alcohol - Beverage Association (VBA) shared at the conference. (Source: Tien Phong Newspaper) |
There should be appropriate tax incentives.
Speaking at the workshop on “Supporting economic growth - Perspectives from enterprises subject to special consumption tax” organized by Nhan Dan newspaper on April 22, Associate Professor, Dr. Nguyen Van Viet, Chairman of the Vietnam Beer-Alcohol-Beverage Association (VBA), said that the business community, especially enterprises subject to special consumption tax such as the beer and alcohol industry, are facing considerable pressure. These enterprises are not only heavily impacted by the prolonged consequences of the Covid-19 pandemic but also have to adapt to major changes in tax policies and other regulations such as the Law on Prevention and Control of Harmful Effects of Alcohol and Beer and Decree 100.
According to Mr. Viet, currently, over 20 economic sectors, from tourism, transportation to sugar cane, sugar, etc., are related to the beverage industry. The increase in special consumption tax on beer and beverages has a special impact on the beer, alcohol, and soft drink industry. Previously, the Ministry of Finance had adjusted the tax increase 4 times, but each increase was only 5-10%. During this period, although businesses are facing difficulties, in the Draft Law on Special Consumption Tax (amended) being submitted to the National Assembly, it proposed option 2 - increasing special consumption tax from 65% to 80%, which is an increase of 15%/time. "This is a shocking tax increase that makes businesses in the beverage industry, especially the beer and alcohol industry, worried," said Mr. Viet.
Mr. Viet suggested that for the beer and alcohol industry, the special consumption tax increase should be postponed until 2028; the tax should be increased by 5% per year for 5 years. For the beverage industry, sugary drinks should not be added to the list of subjects subject to special consumption tax.
Mr. Nguyen Thanh Phuc, Director of External Relations of Heineken Vietnam, also said that with a long-term investment orientation in Vietnam, Heineken contributes to two key growth drivers of the economy in two aspects: domestic consumption and private investment (including foreign direct investment). According to Mr. Phuc, the context of global trade tensions is extremely complicated and unpredictable. Meanwhile, businesses and people are still struggling with increasing production costs, weakened purchasing power and high levels of uncertainty in the market. On the positive side, the Government has shown strong determination in achieving the GDP growth target of 8% by 2025 and double digits in the following years, through a series of remarkable support solutions.
He also proposed to temporarily postpone the approval of the content of increasing special consumption tax on beer products at the 9th Session of the 15th National Assembly, and postpone the review time to 2027 to create conditions for businesses to adapt to external fluctuations and stabilize production and business activities.
Need a mechanism to support businesses
Sharing with Tien Phong reporter, Mr. Nguyen Van, Vice President of Hanoi Supporting Industry Enterprises Association (HANSIBA), said that supporting enterprises through effective policies will be the key, not only helping to increase the capital absorption capacity of enterprises but also helping Vietnamese enterprises gradually master core technology, penetrate deeper into the global value chain, helping enterprises contribute to the cause of building the country's economy in the new era, achieving the set growth target of 8%.
According to Mr. Nguyen Van, the Vietnamese small and medium-sized enterprises, including those operating in the fields of industrial production, supplying components and supporting industrial products, are lacking and weak in internal and external resources. In particular, the important issue is to access technological innovation and improve the production capacity of each enterprise. Other important issues such as export orientation, participation in the global value chain, financial capital, land, and infrastructure with sufficient conditions for production are all lacking.
“Over many years of accompanying and supporting hundreds of member businesses, HANSIBA and many associations have proposed to the central agencies and the Hanoi authorities to pay attention to and adjust and change tax policies. The State has done this very promptly and decisively in the recent past. However, with global fluctuations that have greatly affected the Vietnamese business community, our association proposes that it is necessary to develop preferential tax policies to support small and medium-sized enterprises and private enterprises in Vietnam for a longer period. For example, reducing VAT by 2% will be applied until the end of 2026. Continuing to exempt, reduce, and temporarily suspend land tax collection for units with factories and production complexes in industrial parks and clusters. Especially for companies that implement Net Zero well in production and business activities,” Mr. Nguyen Van shared.
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Associate Professor, Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute. (Source: Tien Phong Newspaper) |
“Double-digit growth requires structural changes in the economy. This is a key issue and will face many difficulties and requires us to focus special efforts on the private economic sector. We must consider businesses as a valuable asset of the nation.” Assoc. Prof. Dr. Tran Dinh Thien, Former Director of Vietnam Economic Institute |
The Vice President of HANSIBA also said that another important factor is to build a tighter supply value chain, because a broken supply value chain will have a very negative impact on the development of businesses. Activities to promote international cooperation through large-scale seminars, exhibitions and fairs will help promote and support businesses, improve the competitiveness of businesses, especially the private economic sector.
According to Associate Professor Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, to ensure the double-digit growth target, Vietnam needs to consider the basis for "reversing the growth momentum". In particular, it is necessary to set out an "unusual" approach, placing the role of Vietnamese enterprises at the center of the development momentum. According to Mr. Thien, based on the fact that the number of Vietnamese enterprises withdrawing from the market has been increasing over time, it can be said that the current business environment has many internal problems. The Vietnamese economy is facing a number of paradoxes such as the phenomenon of high GDP growth but "sustainably" low inflation, too high interest rates; the economy is abundant in money but enterprises are "thirsty" for capital...
From the above reality, Mr. Thien commented that in the coming time, Vietnam must change its development structure to ensure the achievement of the target of double-digit growth in a sustainable manner; in which Vietnamese enterprises must "become the true mainstay of economic development".
According to Tien Phong Newspaper
https://tienphong.vn/doanh-nghiep-kien-nghi-giai-phap-thuc-day-tang-truong-2-con-so-post1736771.tpo
Source: https://thoidai.com.vn/doanh-nghiep-kien-nghi-giai-phap-thuc-day-tang-truong-2-con-so-213017.html
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