Resolution 143/NQ-CP: Important driving force for businesses to recover after storms and floods
Báo Chính Phủ•19/09/2024
(Chinhphu.vn) - With practical solutions and support from Resolution 143/NQ-CP, businesses can overcome difficulties and quickly recover after storms and floods. It is important to promptly assess damage, seize opportunities from preferential policies and especially need close coordination between ministries, branches, localities and businesses in the process of overcoming the consequences of storms and floods.
Associate Professor, Dr. Dinh Trong Thinh affirmed that the direction from Resolution 143/NQ-CP is very timely and drastic, but to be effective, there needs to be close coordination between ministries, branches, localities and enterprises - Photo: VGP/VH
The Government has just issued Resolution No. 143/NQ-CP dated September 17, 2024 on key tasks and solutions to urgently overcome the consequences of storm No. 3 (Yagi), quickly stabilize the people's situation, promote the recovery of production and business, actively promote economic growth, and control inflation well. Resolution No. 143/NQ-CP clearly stipulates the scope and beneficiaries of support, including people, workers, vulnerable groups, business households, cooperatives and enterprises in areas heavily affected by storm No. 3, floods and landslides. Support will be focused on implementation in 2 months, September and October 2024. For some policies specifically for businesses and business households, the implementation period may be extended until the end of 2025 to ensure the recovery process and adaptation to the production and business cycle. Speaking to reporters of the Government Electronic Newspaper, Associate Professor Dr. Dinh Trong Thinh, Senior Lecturer at the Academy of Finance, an economic expert, assessed that storm No. 3 has caused heavy losses in many affected areas. Although the official damage figures are still being collected and counted by the authorities, Mr. Dinh Trong Thinh predicted that the consequences of the storm could cause the economic growth rate in 2024 to decrease by 0.18 to 0.2% of GDP. "We had an optimistic start from the beginning of the year to September 2024 with the expectation of achieving a growth rate of 7%. However, the devastation caused by storm No. 3 has had a severe impact, seriously disrupting many economic activities, hindering the production and distribution of goods in many localities, reducing the recovery and development momentum of the economy ," Mr. Dinh Trong Thinh commented. Timely and decisive direction from the Government With an economy heavily dependent on sectors such as agriculture , fisheries, processing industry, etc., the consequences of natural disasters on these sectors can easily have negative impacts on other sectors such as transportation, trade and services. Therefore, the Government's prompt issuance of Resolution No. 143/NQ-CP is very urgent, "correct" and "on point" to help businesses recover soon, rebuild production, and achieve the set economic goals. Associate Professor, Dr. Dinh Trong Thinh emphasized: "Resolution 143/NQ-CP of the Government is not only a temporary measure but also a foundation to help businesses and localities restore economic activities after the storm. The Resolution has provided directions including solutions to restore production, ensure social security, control inflation, support businesses in rebuilding after the storm...". One of the highlights of this Resolution is the clear and specific direction of tasks for each ministry, branch and locality. From infrastructure reconstruction, traffic restoration to ensuring food supply and other aspects of social life and production are all considered and closely directed. According to Mr. Thinh, this is an important basis for local authorities and businesses to be able to effectively and quickly implement and carry out the task of restoring operations after storms and floods.
Recovery and overcoming the consequences of natural disasters requires consensus and cooperation from all levels, sectors, people and businesses - Photo: VGP/Van Hien
Enterprises and localities need to proactively assess damage and propose support . However, Associate Professor Dr. Dinh Trong Thinh also pointed out that the success of Resolution 143/NQ-CP depends not only on top-down direction but also on the initiative of enterprises and localities. "Enterprises need to assess their own damage and make specific requests for support. The Government has directed debt deferral, tax deferral and not to transfer bad debt groups to affected enterprises, but this can only be done when enterprises have clear statistics and request appropriate support," Associate Professor Dr. Dinh Trong Thinh analyzed. Specifically, enterprises need to coordinate with competent authorities to propose measures such as deferring taxes, fees as well as bank loans. For cases with severe damage of over 30%, tax reduction will be considered. If the damage is up to 70%, tax exemption can be requested. This is a process that requires careful preparation and transparency from businesses to ensure that support policies are implemented accurately, quickly and to the right target. In addition, Associate Professor, Dr. Dinh Trong Thinh also emphasized the role of relevant ministries and branches such as the Ministry of Industry and Trade, the Ministry of Transport , the Ministry of Finance and the State Bank; he said that these agencies need to quickly deploy solutions to overcome the consequences of storms and floods, from ensuring the circulation of goods, repairing and restoring traffic infrastructure to providing financial resources to support businesses in accordance with the spirit of Resolution 143/NQ-CP. The Ministry of Industry and Trade has performed well its assigned task of managing the supply of food, foodstuffs and necessities, ensuring that there are no shortages of goods or unreasonable price increases in affected areas. At the same time, the General Department of Market Management and the Price Management Department (Ministry of Finance) must also closely monitor and control prices, avoiding taking advantage of natural disasters to push prices up. In addition, the Ministry of Transport plays a key role in repairing damaged transport infrastructure, ensuring uninterrupted flow of goods. "The smoothness of the transport network is an important factor in helping businesses restore production and import-export activities are not affected," Mr. Thinh emphasized. The Ministry of Finance has given strong instructions on providing financial resources to support localities and businesses. Along with that, the State Bank effectively implemented solutions, requiring commercial banks to implement debt extension and deferral policies and not transfer bad debt groups for businesses damaged by the storm. This helps businesses have more financial resources to restore production without having to worry about the pressure of immediate debt repayment. Associate Professor, Dr. Dinh Trong Thinh affirmed that the direction from Resolution 143/NQ-CP is very timely and strong, but to be effective, there needs to be close coordination between ministries, branches, localities and businesses. Recovery and overcoming the consequences of natural disasters require consensus and cooperation from all levels, sectors, people and businesses. Localities, especially the Department of Industry and Trade in affected provinces and cities, need to grasp the situation in detail and report promptly to coordinate goods and ensure people's lives. Businesses also need to be more proactive in assessing the extent of damage and proposing appropriate support measures. If the whole system acts in a coordinated and synchronous manner, the damage from the storm will soon be overcome and the economy will quickly return to growth and development. Resolution 143/NQ-CP of the Government is not simply a temporary solution but a driving force to help businesses and the economy overcome difficulties after storm No. 3. With timely direction and synchronous coordination between ministries, sectors, localities and businesses, we can completely trust in the ability to overcome the consequences of natural disasters and bring the economy back to a sustainable growth trajectory. "Resolution 143 has opened up clear, specific and highly practical directions, helping businesses and localities to quickly recover and continue to contribute to the country's development. The most important thing now is the initiative and responsibility of the entire system to turn these solutions into reality, bringing the highest efficiency in the economic recovery period after natural disasters and floods," Associate Professor, Dr. Dinh Trong Thinh expressed.
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