Overcoming challenges through proactive and effective implementation of support policies

	Continue implementing the goal of facilitating and supporting import and export enterprises
	Support policies must be practical for enterprises
	Post-pandemic business support policies should focus on efficiency: experts

How do you assess the current difficulties of businesses?

According to feedback from businesses, they face numerous challenges, particularly in domestic and export markets, which have declined. Additionally, accessing credit is extremely difficult for businesses, with high-interest rates for bank loans used for production and complicated borrowing procedures. Moreover, according to 10,000 small and medium-sized enterprises surveyed, 40% of the difficulties businesses face are about capital access, 30% are related to market challenges, 20% are related to administrative procedures, and the remaining 10% are attributed to other difficulties.

Currently, the issue of market demand is of utmost importance for businesses, but both the domestic and export markets face difficulties due to reduced demand. Another challenge is the availability of financial resources. Additionally, some administrative procedures are not yet truly streamlined, affecting business operations such as implementing support procedures from government agencies regarding interest rate incentives, certification procedures, investment procedures, and more. These are the combined difficulties that impact the development of businesses.

How has the Government's recent support impacted businesses?

The National Assembly and the Government have implemented numerous measures to support the business community. Subjectively, I highly appreciate the policy of reducing the value-added tax (VAT) by 2%, which was implemented in 2022 and is expected to continue in the final months of 2023. This policy benefits businesses and consumers, as the tax reduction increases purchasing power among the population. As a result, businesses can increase their sales volume and contribute to the state budget. In practice, the reduction in VAT in 2022 contributed to a more than 25% increase in exports, a 30-40% increase in market share, and stimulated consumer demand.

Additionally, the Government and the National Assembly recently issued numerous significant policies to support sustainable development, promote harmonious and environmentally friendly economic growth, and align with the integration trend.

However, I believe the implementation process is crucial and requires the active involvement of the entire political system, from the grassroots to the central level. This is closely connected to the business community's daily life. Although we have enacted numerous regulations and implemented information technology and administrative modernization, the inspection, supervision, and evaluation processes are still relatively limited. Some procedures still pose difficulties for individuals and businesses, requiring the transition towards an administrative system that serves and supports businesses.

Given the difficulties in the export market, what recommendations do you have for businesses in coping with these challenges?

It is predicted that the third quarter of 2023 will be a crucial period due to the implementation of a series of government policies, mechanisms, decrees, and circulars, particularly, significant are the issues related to finance, fiscal matters, cost reduction, and interest rate reduction by banking systems. Therefore, businesses must proactively access and benefit from the support provided by government agencies. They need to enhance their organizational structure to adapt to integration conditions, strengthen the professional skills of their workforce, and increase awareness of the role of digital transformation to enhance competitiveness.

These issues are crucial for both domestic and international business transactions. However, in the global market, businesses need to be extremely proactive and establish a highly skilled marketing department capable of market research and forecasting, which business owners to develop effective business strategies. Additionally, industry associations play a vital role in assisting businesses in establishing directions for collaboration, joint ventures, and cooperation in production and product consumption. They also support business training programs, ranging from human resources development to marketing skills and import-export strategies.

Thank you very much!