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Support SMEs

Wednesday, 06/06/2018

With the motto: diversifying policies on supporting capital and credit for enterprises, in the past years, credit institutions in the province always creates favorable conditions for enterprises to access capital with suitable interest rate to maintain, restore, develop production and business activities, actively contributing to the socio-economic development of the province.

According to the report of the provincial People's Committee, in 2017, the province had 8,588 registered private enterprises, 8,330 of which are SMEs with a total capital of more than 74 trillion dong. SMEs in the province contributed 9% of the provincial GDP, more than 20% of total social investment capital; annually, it contributes about 6.44% to the State budget; more than 14% of the total provincial export value; creating jobs for tens of thousands of workers.

The province has issued many mechanisms and policies to create favorable conditions for SMEs in asessing capital sources in the spirit of Resolution No. 04 of the provincial Party Committee on SME development in the province up to 2020; Resolution No. 02 of the Government on some solutions to remove difficulties for production and business, market support...; Resolution No. 12 of the provincial People's Council on supporting investment in infrastructure of industrial cluster; Resolution No. 57 of the provincial People's Council on a number of specific measures to attract investment and support the development of enterprises in the province.

In the past five years (2013-2017), credit institutions in the province supported nearly 65 trillion dong for SMEs; implemented extension of time for paying land use tax for 9 projects with the total amount of nearly 223 billion dong; reduced over 11 billion VND of land rent for 70 units; extend the deadline for payment of value added tax for over 1,160 enterprises with over 51 billion dong; extend the deadline for paying personal income tax for more than 1,000 enterprises with the amount of nearly 11 billion dong;

supported 30 enterprises to borrow loans at 0% interest rate under the price stabilization program with the total cost of 110 billion dong. In addition, the Fund for Development Investment and Credit Guarantee implemented credit guarantee for 22 enterprises, with a total capital of VND 60 billion and for 84 businesses to borrow nearly VND 246 billion for investment;

The science and technology Development Fund supported over VND 61 billion for 19 enterprises to innovate the technology, apply advanced technological advances in production activities with preferential interest rates of 0-7% per year; environmental protection fund supported for 8 enterprises to borrow investment loans for technology renovation and environmental treatment in the amount of nearly 16 billion dong; the provincial employment Fund supported over VND 21 billion for over 1,000 projects.

In order to improve the attractiveness of IPs, the provincial People's Committee instructs professional agencies to actively coordinate and urge infrastructure investors to give solutions to improve the efficiency of investment and construction in order to reduce costs, improve the competitiveness of industrial zones.

With the targets to 2020, there are more than 9,500 SMEs operating in the province; every year, this sector contributes 15-20% of GDP, 10-15% of the total provincial budget revenues; accounting for 15-17% of total export turnover of the province; creates new jobs for 60-70,000 laborers ..., the province directs the credit institutions to publicize and guide the process and create favorable conditions for enterprises in borrowing the capital for production and business; encourages commercial banks to increase their outstanding loans for SMEs and provide preferential loans with medium and long-term capital for enterprises investing in supporting industries, export, hi-technology, tourism service enterprise;

continues to review and simplify procedures on borrowing loans but still ensuring current provisions of law on credit activities; deploys bank credit packages at reasonable interest rates with each group of borrowers; restructures repayment period, reduces interest rates of old loans to remove difficulties for businesses; develops diversification of banking products and services to meet the needs of enterprises and etc.

Vinh Phuc News


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