Implement three groups of solutions to achieve the goal of 2 million private enterprises by 2030

Creating a transparent and effective business environment

Delegate Dang Thi Bich Ngoc ( Hoa Binh Delegation) questions. Photo: Quochoi.vn

At the question and answer session with Minister of Finance Nguyen Van Thang on the morning of June 19, delegate Dang Thi Bich Ngoc (Hoa Binh Delegation) raised the issue: In the context of many challenges in the world and domestic economy, production and business activities are facing many difficulties. This puts pressure on the goal of reaching 2 million private enterprises and 20 leading enterprises reaching the global value chain by 2030 according to Resolution No. 68-NQ/TU. The delegate asked the Minister to inform about the goals and solutions to develop enterprises in both quality and quantity.

Responding to this content, Minister Nguyen Van Thang said that the goal of reaching 2 million enterprises by 2030 is set in Resolution 68, the National Assembly has issued a Resolution to implement. This goal demonstrates the strong development aspiration of the economy and requires great efforts.

Minister of Finance Nguyen Van Thang answers questions. *Photo: quochoi.vn*

Minister Nguyen Van Thang said that in the first 5 months of the year, the number of businesses withdrawing from the market was large, posing more difficulties. Based on the above reality, the Minister proposed three groups of solutions that need to be implemented in the coming time.

Firstly, creating a transparent and effective business environment, substantially cutting administrative procedures, and reducing costs of complying with business conditions.

Second, promote the conversion of business households into enterprises. The market currently has more than 5 million business households operating, this is the force with the greatest potential. Therefore, the Ministry of Finance is perfecting the legal framework to have policies to narrow the gap between business households and enterprises, implement the elimination of lump-sum tax, promote transparency and professionalization of enterprises... At the same time, there are many practical tax policies such as 3-year tax exemption, elimination of business license tax, providing accounting software for business households...

Third, prioritize reviewing obstacles in investment, construction, and planning to create a clear corridor for businesses to have the motivation to participate in activities. Promote digital transformation for businesses, increase adaptability, and limit businesses from withdrawing from the market.

Delegate La Thanh Tan (Hai Phong Delegation) questions. *Photo: quochoi.vn*

Regarding this content, delegate La Thanh Tan (Hai Phong Delegation) said that among more than 5 million business households, there are many households with very large scale but have not officially joined the business sector due to concerns about costs, procedures and financial obligations.

This reality shows that many breakthrough and practical policies are needed to encourage and facilitate the process of converting business households into enterprises. Delegates asked the Minister what breakthrough solutions would promote the conversion of business households into enterprises?

Minister Nguyen Van Thang said that there are currently 5.2 million business households, many of which have large annual revenues but have not yet converted to enterprise models. This is a potential force to achieve the target of 2 million enterprises by 2030.

The Law on Support for Small and Medium Enterprises 2017 has provisions on policies to support business households in converting to enterprises, but after more than 7 years, the number of business household conversions is not much.

According to the Minister, due to the large difference in legal compliance costs between business households and enterprises, business households do not fully understand legal regulations, are not familiar with accounting book management, business households are subject to lump-sum taxes, and use simpler invoices and documents than enterprises...

Based on the above reality, the Ministry is focusing on 4 solutions including: Reviewing and perfecting the legal framework of business households to narrow the gap in management organization and financial accounting regime between business households and enterprises; urgently perfecting legal regulations, abolishing lump-sum tax - a fundamental solution to make business households transparent. Next is exempting corporate income tax for the first 3 years, exempting business license tax, when converting, enterprises will enjoy many preferential policies; strengthening propaganda to raise awareness for business households to convert.

Creating conditions for private economic development

Delegate Dao Chi Nghia (Can Tho Delegation) questions. *Photo: quochoi.vn*

Delegate Dao Chi Nghia (Can Tho delegation) questioned the Minister about the incentive mechanism of the Ministry of Finance in the context that the Party and State have many policies to create favorable conditions to promote the private economy; at the same time, encourage economic sectors to participate in infrastructure projects and public services of the country.

Responding to this question, Minister Nguyen Van Thang said that the Ministry of Finance has advised the Government to continue submitting to the National Assembly amendments to the Investment Law according to the method of promoting public-private partnership, cutting procedures for some project groups, empowering some competent agencies to carry out BT (build-transfer) projects, expanding cases of designated bidding, special selection when implementing projects...

The Ministry will also present a plan to reduce evaluation criteria to make it easier for investors to participate, while allowing businesses to promote public-private investment models, public-private leadership, etc., prioritizing budget investment and preparing site clearance for project implementation.

According to the Minister, in the past, businesses wanting to do BT projects had to invest 100% of their money, but now the State participates up to 50-60%, so businesses have more opportunities to participate. In that spirit, the Ministry also developed a decree on developing BT projects in the field of science and technology, creating many conditions to attract investors in this field.

“
“BT projects must also create trust for businesses. This has been a matter of public concern since the beginning of the term. We will resolve BT projects with objective obstacles that affect business revenue,” Minister Nguyen Van Thang emphasized.

Delegate Hoang Quoc Khanh (Gia Lai Delegation) questions. *Photo: quochoi.vn*

Delegate Hoang Quoc Khanh (Gia Lai Delegation) said that the National Assembly has passed Resolution 198, which emphasizes that private enterprises, business households, and individuals are supported with 2% interest rates when implementing green projects and circular projects.

However, voters are concerned about the implementation method because previous Resolutions with the same goal achieved low results. Delegates asked, what plans does the Minister have to make these interest rate support policies more practical?

In response to this question, Minister Nguyen Van Thang said that businesses that have transformed into circular business models and met ESG sustainability standards are very valuable. Resolution 68 stipulates that private enterprises, business households, and individuals are supported with a 2% interest rate when implementing green projects and circular projects.

However, there may be concerns about the organization of this policy. Previously, the Ministry of Finance had similar support policies but they were not effective. The Ministry has learned from experience and has solutions to effectively implement the interest rate support program in the future.

Specifically, the Ministry will develop clear and feasible guidance documents. At the same time, it will develop a plan to support interest rates through two channels: the extra-budgetary financial fund system and the commercial banking system. The Ministry will make it clear and transparent, ensuring feasibility. "We will also allocate the right and sufficient resources, supplement capital for the funds and have a mechanism for banks to lend at prescribed interest rates," the Minister emphasized.

Source: https://hanoimoi.vn/thuc-hien-ba-nhom-giai-phap-dat-muc-tieu-2-trieu-doanh-nghiep-tu-nhan-vao-nam-2030-706052.html