Some economists have suggested pumping 1-2 percent of GDP, or $2.5-5 billion, into 28 SME credit guarantee funds to help businesses overcome current difficulties. Nguyen Van, deputy chair of the Hanoi Association of Enterprises in Supporting Industries, said to protect the economy, it is necessary to ‘keep businesses alive’. Meanwhile, many businesses are in danger. How to help? Economists say that Vietnam spends less money than other countries because of its limited resources. There should be support packages strong enough to help businesses, which are on the verge of bankruptcy, to maintain their production, thus helping minimize labor layoff. As for the monetary and credit packages (debt payment extension, debt freezing, interest rate cut), only 50 percent has been implemented. Steven Bui from the Vietnam-South Korea Business Association said that many enterprises have seen their revenue fall and have had to scale down business, but still cannot get support. Tran Thuy Foreign experts commend Vietnam’s response to latest COVID-19 outbreak Foreign experts have praised Vietnam’s response to the current COVID-19 outbreak that has caused the country’s first fatalities since the beginning of the pandemic. HCM City supports tourism businesses in face of COVID-19 As the disease broke out again in Da… Read full this story
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