Focus on removing obstacles for businesses.

Việt Nam•27/02/2024

With a highly open economy and a high proportion of FDI in the GRDP, the provincial authorities have been resolutely implementing solutions to remove difficulties, obstacles, and bottlenecks to unlock resources for socio-economic development. In particular, they have focused on supporting and resolving difficulties for the business community. This has created additional impetus and opportunities for businesses to overcome challenges and develop steadily.

In recent years, TKR Vietnam Co., Ltd., located in Ba Thien 2 Industrial Park (Binh Xuyen), has consistently experienced strong growth, affirming its position and reputation in the field of manufacturing and supplying electronic components and equipment. Photo: Nguyen Luong

Currently, businesses in the province employ over 261,000 workers, including more than 1,200 in state-owned enterprises, 98,100 in domestic enterprises, and over 162,000 in foreign-invested enterprises.

Recently, the business community in the province has faced many difficulties regarding capital, orders, raw materials, labor shortages, social insurance debts, etc., mainly concentrated in sectors such as electronics and related products; textiles and garments; machinery, leather and footwear...

Facing difficulties, some businesses have had to cut production and production plans, leading to job cuts, such as Toyota Vietnam Motor Company, Honda Vietnam Company, Daewoo Vietnam Bus Company, and Piagio Vietnam Company.

Notably, some construction material manufacturers had to significantly reduce their production capacity, such as Vitto Vinh Phuc Co., Ltd. and A My Industrial Joint Stock Company, which maintained 50% of their capacity; Hoan My Co., Ltd. maintained 30% of its capacity; and Hera Industrial Joint Stock Company maintained 70% of its capacity...

Recognizing the difficulties faced by the business community, the province has directed departments, agencies, and localities to work together to resolve difficulties and support businesses in order to minimize the number of businesses temporarily suspending production, incurring losses, or dissolving.

Specifically, credit institutions in the area continue to implement tax deferral, postponement, exemption, and reduction plans, as well as interest rate reductions for businesses, in accordance with the Government 's directives. For businesses facing difficulties with raw materials and labor shortages, relevant departments and units are implementing measures to closely monitor and forecast the situation in order to guide and direct businesses to proactively develop appropriate production and business plans; and strengthening consultation, referral, and connection between workers and businesses.

Regarding outstanding social insurance contributions, the provincial Social Insurance agency regularly reviews, verifies, and guides businesses in implementing policies and regulations for employees in accordance with the law. Simultaneously, it categorizes and compiles a list of units that are late in paying social insurance, health insurance, and unemployment insurance contributions, publicly disclosing this information through mass media.

By January 15th, the province had attracted 4 new FDI projects and increased capital for 5 existing projects, bringing the total registered FDI capital to US$69.44 million, a 33.8% increase compared to the same period last year, and equivalent to 17.36% of the annual plan.

In addition, the province saw the establishment of 86 new businesses with a total registered capital of 487 billion VND, representing a 1.9-fold increase in the number of businesses and a 2.6-fold increase in registered capital compared to the same period last year.

In January 2024, 123 businesses in the province resumed operations, an increase of over 16% compared to the same period last year, bringing the total number of newly established and reactivated businesses to 209. The rate of online business registration in the province reached 100%.

In 2024, the province aims to achieve a total state budget revenue of over 31,760 billion VND, including 26,365 billion VND from domestic sources and 5,400 billion VND from import and export activities. Simultaneously, it strives to attract 400 million USD in FDI and 5,500 billion VND in DDI (Domestic Domestic Investment).

To achieve the set goals, the province continues to direct all levels, sectors, and localities to promptly address obstacles and remove bottlenecks in all industries and fields, and resolutely implement urgent tasks to promote economic growth right from the beginning of the year.

Seriously implement the Government's and Prime Minister's directives and resolutions on removing difficulties for production, business, land, construction materials, etc., and the provincial People's Committee's guiding documents to strengthen responsibility in handling work and removing difficulties for the production and business of people and enterprises.

Focus on resolving obstacles in the implementation of investment projects; obstacles faced by businesses and investors in the real estate, urban, and industrial sectors; obstacles in import and export activities, labor market, unemployment, and resolving policies and regulations for workers…

Continue to improve institutions, accelerate administrative procedure reforms, and improve the investment and business environment; restructure the economy in conjunction with transforming the growth model, and enhance the productivity, quality, efficiency, and competitiveness of the economy.

Ngoc Lan

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