Support policies must pay attention to small, medium and micro enterprises

VCN - Customs News interviewed Dr Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) about solutions to support enterprises during the Covid-19 pandemic.
3713-1246-3-ts-vu-tien-loc-082356
D. Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry.

The situation of the Covid-19 pandemic continues to be complex in Vietnam, how should support solutions from the Government be implemented?

The Covid-19 pandemic is becoming more complex, so domestic firms are still facing many difficulties. One of the most difficult problems for businesses is capital and liquidity. Therefore, in recent times, the Government has issued many solutions to support businesses and help firms reduce difficulties. In particular, most recently, the Government has issued a decree to extend the time for paying taxes, fees and land rent. This is a very timely decision to help businesses maintain production and business activities and ensure jobs for employees. This is not only a solution for economic and growth problems but also a solution for social security and socio-political stability of our country in the coming time.

Therefore, in addition to the above measures, the business community proposes to the Government to assess and consider the impact and continue to expand beneficiaries, continue to improve measures to support businesses, especially paying attention to small, medium and micro-sized enterprises. In particular, we have a policy and legal gap for business households, so in the near future, it is necessary to introduce legal regulations to protect and support business households. Helping business households also benefit from policies to support small, medium and micro-sized enterprises. This will help business households grow into businesses, forming a more sustainable and effective business community.

What do businesses expect in terms of economic management and business support from management agencies?

With very radical reforms as well as solutions to support firms in the past time, the business community has been more satisfied with the progress in State management and economic administration. But there are still many points businesses are not satisfied with, so they want to improve. In particular, many areas in the business environment have overlaps and obstacles stemming from legal regulations, which need the Government and the National Assembly to focus on research to create a transparent environment.

We can't get out of the middle income trap if we don't get out of the middle institutional quality trap, despite our efforts to move up the ranks, the quality of the business environment is "usually average" compared to many regional countries and around the world. This requires synchronous efforts of the whole political system, to reform substantively, avoid ostentatious forms, to personalise responsibilities and to decentralise authority more strongly. Enterprises investing in production and business do not have a term; the spirit of the manager must also not have a term in operation.

With the goal of becoming a developed country by 2045, what solutions do we need for the business community?

I think that we must have actionable programmes, specific to each development stage, most importantly, reforms must be practical and definitive to create breakthroughs. For example, the Land Law has many obstacles to land use and resource mobilisation for development, so the Land Law must be approached and revised with new perspectives.

In particular, the driving force for development must come from the opening of innovation resources, not from traditional motivations such as natural resources, cheap environmental protection fees and cheap labour. Therefore, the law system must be consistent with the nature of those resources, and must protect those who dare to think and do things for the country. In particular, we need projects as a driving force for development, be it a project that takes place over a long period of time or mobilises people's resources from public-private projects to create stability and increase trust.

However, currently, foreign invested enterprises (FDI) are still playing the dominant role; can you tell us how to improve this situation to help domestic enterprises?

Recently, Vietnam has made many efforts in attracting FDI and can be considered as one of the most attractive FDI economies, but the quality of FDI is not high. The biggest limitation is that FDI is not linked with the domestic business community, especially small and medium-sized enterprises, existing as an "oasis". Although exports still contribute more than 70%, imported raw materials account for 60-70%. Not only that, some FDI enterprises even pollute the environment, mainly using cheap local resources and resources, taking advantage of the Government's incentives, disproportionate contributions to local budgets.

Therefore, we need to upgrade FDI attraction in the coming period. We will not only care about the quantity and not run after projects of hundreds of millions, billions, even tens of billions of dollars if these projects do not contribute to improving the quality of Vietnam's development. One of the important requirements is FDI enterprises must associate with domestic small and medium enterprises, not occupy the opportunities of Vietnamese enterprises, creating a beneficial "symbiosis" in the global value chain.

By Huong Diu/ Huu Tuc

Related News

Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
How to handle export processing enterprises forgetting to open a corresponding import declaration

How to handle export processing enterprises forgetting to open a corresponding import declaration

VCN - From 2014 to 2019, Dragonjet Vietnam Co., Ltd. (headquartered in Que Vo Industrial Park, Bac Ninh) opened 17 on-site export declarations of domestic enterprises, however, the company “forgot” to open a corresponding import declaration. Dragonjet Vietnam Co., Ltd proposed the Customs authority to instruct tax procedures and policies and whether failure to register a corresponding declaration will result in tax imposition?
Support policies needed for businesses to recover after the super typhoon No. 3

Support policies needed for businesses to recover after the super typhoon No. 3

VCN - Super Typhoon No. 3 has left severe consequences. The livelihoods of the people and the operations of businesses have been significantly affected, making timely and appropriate support policies from regulatory agencies essential.
Vietnam still primarily relies on processing and manufacturing with limited automation integration

Vietnam still primarily relies on processing and manufacturing with limited automation integration

VCN - Vietnam needs to cultivate domestic enterprises that are large-scale, possess international competitiveness, boast established brands, and can serve as cornerstones in leading the industrialization and modernization process.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version