Vietnam - Finance Ministry considers tariff cut to save enterprises

VietNamNet Bridge – Minister of Finance Vuong Dinh Hue said that the ministry is making a survey on difficulties of businesses in order to take measures to help them.


Speaking at a meeting on April 5, Mr. Hue said that dealing with difficulties for businesses is a priority of the government and the Finance Ministry.

According to the General Statistics Office, Vietnam’s economic growth and industrial production growth has reduced in recent years. Meanwhile, the number of bankrupt enterprises in the first quarter of 2012 numbered nearly 12,000.

The Finance Minister admitted that Vietnamese businesses are facing difficulties, but he said that a survey is needed to accurately define the current situation of Vietnamese businesses. The Finance Minister has set up a working group to make the survey.

Earlier, the National Finance Supervision Committee sent a report to the Government suggesting measures to assist small and medium sized enterprises through tax reduction and to assist large-sized enterprises, by granting them with new loans.

Mr. Hue said that the Government had told the Ministry of Planning and Investment to design solutions to help enterprises. “The Finance Ministry also understands the operation of businesses through tariff and customs activities, so we are making statistics and then suggest appropriate solutions to assist them,” he added.

He said that the survey would be finalized in late April.

Besides the central bank’s cut down of interest rates, tax and fee-related solutions are under consideration. The government will present new measures to the National Assembly at the upcoming session.

“The point of view of the Ministry of Finance is: concentrating all resources to assist businesses in terms of policy, capital and finance but assistance must go to suitable addresses,” Mr. Hue said.

Na Son


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