HCMC to provide relief to businesses hit by COVID-19 pandemic by the end of 2020

SGGP
HCMC will implement supporting policies for businesses affected by coronavirus from now until the end of this year, said Chairman of the municipal People’s Committee Nguyen Thanh Phong at a Government’s video conference with representatives of various ministries, provinces and cities chaired by PM Nguyen Xuan Phuc on May 9.

City's leaders participate in the online meeting chaired by PM Nguyen Xuan Phuc on May 9. (Photo: SGGP)

City's leaders participate in the online meeting chaired by PM Nguyen Xuan Phuc on May 9. (Photo: SGGP)

City's leaders who participated in the live link-up meeting included Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan, representatives of municipal departments , economic experts, representatives of associations of the economic sector.
Chairman of the municipal People’s Committee Nguyen Thanh Phong said at a meeting that 12,700 businesses had dissolved and have suspended operations in the first four months. Most of them in small and medium businesses. An estimated 300,000 employees have lost your job or temporarily stopped working as a result of COVID-19.
The city’s authorities has comprehensively carried out supporting measures for businesses hit by COVID-19, helped enterprises and individuals build business plans and approach Government’s aid packages.
Commercial banks and the Tax Department in the city have offered debt relief and reduced the interest rate to assist businesses.
HCMC will focus on supporting trading and production, preventing businesses from falling into bankruptcy and helping employees avoid losing jobs.
The city’s authorities will also support and guide businesses to manage liquidity risk to ensure that they remain solvent. 
The municipal government will lower the cost of trading and production, promote the consumption of Vietnamese products, expand the value-added chain in the country, and support innovative startup projects.
The city will open its tourism, economy, trade and investment linkages with other countries which gradually ease their coronavirus lockdowns.
Pleaded to accompany with businesses to help them overcome impacts by COVID-19 and strongly boost its leading role in the Vietnam economy.
HCMC to provide relief to businesses hit by COVID-19 pandemic by the end of 2020 ảnh 1

By Mai Hoa - Translated by Kim Khanh

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