Motivate business development

The support and assistance from the State is identified as an important support for businesses and investors to facilitate business and develop projects. From the flexibility of preferential policies, all levels and sectors in the province have concretized support activities, gradually removing difficulties for the business community.

Enterprises expect more favorable conditions in production and business in the coming time. In the photo: Workers working at a rattan product factory in Dong Hoa town. Photo: NHU THANH

Important aids

To contribute to creating momentum to promote and develop the economy , the Government issued Decree 180/2024/ND-CP stipulating and guiding the implementation of the policy of reducing value added tax in 2025, continuing to reduce 2% of value added tax on a number of groups of goods and services from January 1 to June 30, 2025. On March 25, the Prime Minister issued Directive 10/CT-TTg on promoting the development of small and medium-sized enterprises to remove barriers and difficulties, creating maximum conditions for small and medium-sized enterprises to break through. Next, the Government issued Decree 87/2025/ND-CP stipulating the reduction of land rent in 2024...

Most recently, the Politburo issued Resolution 68-NQ/TW on private economic development. Resolution 68 affirms that the private economy plays an important role and frankly points out the reasons that hinder the development of the private economy; at the same time, it proposes specific and detailed groups of solutions to be implemented from now until 2030 and with a vision to 2045.

In Phu Yen , the Provincial People's Committee has implemented Action Program 02/CTr-UBND dated January 20, 2025 of the Provincial People's Committee to implement Resolution 02/NQ-CP dated January 8, 2025 of the Government on key tasks and solutions to improve the business environment and enhance national competitiveness in 2025. Not only providing policy support, the province also actively creates favorable conditions for businesses and investors, and provincial levels and sectors organize meetings and dialogues with businesses to listen to and remove difficulties and obstacles in the process of operation.

Comrade Huynh Lu Tan, Member of the Provincial Party Standing Committee, Head of the Phu Yen Economic Zone Management Board, said: Nam Phu Yen Economic Zone and industrial zones in the province have attracted over 120 investment projects, with a total registered capital of over 7,700 billion VND and 44 million USD. Of these, 88 projects have been put into effective operation, creating jobs for thousands of local workers. The board's leaders regularly visit businesses, organize meetings and dialogues to grasp difficulties and promptly remove obstacles. The unit's viewpoint is to always accompany businesses, create the most favorable conditions for effective production and business activities; contributing to promoting local socio-economic development.

Development expectations

In the spirit of Resolution 68-NQ/TW, by 2030, the private economic sector will contribute 55-58% of the country's GDP, with an average growth rate of 10-12%/year. The number of enterprises is expected to reach about 2 million in operation, including at least 20 large enterprises participating in regional and global value chains. To achieve this goal, the resolution sets out many specific incentive policies such as: cutting administrative procedures, eliminating lump-sum taxes, encouraging business households to convert into enterprises, supporting management training and especially exempting corporate income tax for the first 3 years for small and medium enterprises.

Mr. Nguyen Tan Thuan, Permanent Vice Chairman in charge of the Provincial Business Association, shared: “The content that makes businesses happiest in Resolution 68 is the tax exemption for small and medium enterprises in the first 3 years. This is a very practical policy, helping businesses feel more secure in the start-up phase, devoting resources to strengthening internal strength before moving to a more stable development stage.”

In addition to the advantages of new policies, the business community also expects that when Phu Yen and Dak Lak provinces merge, it will open up great opportunities to form a new and promising economic dynamic region, forming large-scale, modern industrial clusters in the near future.

Ms. Huynh Thi Bang Thuong, representative of Khatoco Phu Yen Tobacco Factory, said: The business community is very interested in the policy of merging provinces, which is important for regional development. We also believe that this is an opportunity to help Phu Yen and Dak Lak form a new dynamic region, connecting raw materials from the highlands and the sea; promoting inter-regional infrastructure investment, creating favorable conditions for the development corridor of industry - agriculture - high-tech agriculture, expanding development space for businesses. On the factory side, we will continue to make efforts, innovate and commit to fully fulfilling our obligations to the State, the production emulation movement and building a civilized, disciplined, cooperative corporate culture environment for mutual development.

According to the Department of Finance, there are currently more than 3,700 enterprises operating in the province, with a total registered capital of about 76,000 billion VND. The Provincial People's Committee has requested agencies and units to focus on drastically and effectively implementing solutions set out in central and local resolutions to remove difficulties for enterprises; promote the development of e-Government and digital Government to help enterprises access information and public services conveniently and quickly.

Source: https://baophuyen.vn/kinh-te/202505/tao-dong-luc-cho-doanh-nghiep-phat-trien-4db07ab/