Support package of VND 350,000 billion needs to lead capital into urgent areas

Since the beginning of the year, due to the basically controlled situation of the COVID-19 epidemic, along with the high rate of vaccination for people, many socio-economic activities have returned to a new normal. Businesses have shown signs of recovery after 2 years of being affected by the epidemic. Mr. Phung Xuan Khanh, Director of TienPhong Travel Company, believes that the reopening of international routes and tourism will be a positive signal for the industry to redefine its development strategy in the near future.

“The government has completely opened up international tourism since March 15. Although we are open, we do not have to immediately welcome a large number of tourists, but expect that activity will gradually recover. Therefore, business Businesses starting now must be ready to prepare the best conditions in the future. Specifically repositioning for the upcoming business plan, which are the key markets, the products that we are determined to develop. develop in the future to deploy. From there, determine how much financial resources to invest accordingly.“, said Mr. Phung Xuan Khanh.

However, the economic recovery process in 2022 still faces many challenges when the COVID-19 epidemic is still complicated, along with pressure from raw material prices and input materials for production and business activities. business is still high. This is a burden for businesses when the cost of circulation and transportation is increased, causing production costs to increase. Therefore, one of the packages under the program of socio-economic recovery and development of VND 350,000 billion that is expected by the business community is an interest rate compensation package of 2%/year with a capital of up to nearly VND 40,000 billion.

According to the Ministry of Planning and Investment, it is expected that in 2022, about 50% of the 350,000 billion VND package will be disbursed, of which the size of the fiscal solution is up to 291,000 billion VND, accounting for 83% of the total value of the program. .

Ms. Nguyen Thi Hao, Hanoi Women Entrepreneurs Club, said that monetary policies through management on interest rates, exchange rates and credit growth will have great impacts on the recovery and growth process. in the coming years.

“It is necessary to have specific policies for specific subjects, especially small and medium enterprises and business households that want to develop into enterprises. The more open policy mechanism to have the fastest access to the Government’s support programs, the sooner it will be effective.“, suggested Mrs. Nguyen Thi Hao.

The economic recovery package of VND 350,000 billion has the largest scale ever. Solutions to support business recovery with a series of policies to exempt and reduce taxes, fees and charges, remove bottlenecks in infrastructure, etc. will have the most direct and fastest impact on the business community. .

Economic experts note that the support for investment in projects can be immediately absorbed, helping the economy to recover and spread. This will have a double impact on the economy. Specifically, the policy of reducing value-added tax (VAT) by 2% helps people reduce costs when shopping and stimulate consumption. According to economist Can Van Luc, just 1 percentage point increase consumption will help GDP increase 0.12%. This program supports focus, focus, criteria and even a list of some specific projects, supporting both aggregate supply and aggregate demand.

“The program on support to recover the economy must have a clear focus and address, which must be the areas that are heavily affected by the epidemic, but have the ability to recover, if not, If the ability to recover, it must accept bankruptcy, because this is the screening process of the market. Secondly, the Government will have to issue a detailed program and very specific instructions in the following, to see which industries will be prioritized and the main subjects to receive. This support program has a process of testing, monitoring and strengthening post-audit to bring the best results“, Mr. Can Van Luc commented.

According to the Ministry of Planning and Investment, basically, by April and May, it is possible to deploy the support package for public investment under the Economic Support and Recovery Program of VND 350,000 billion. As for the business support policy, the Ministry of Planning and Investment cooperates with the Ministry of Planning and Investment State bank identify enterprises in certain industry groups for support; in which, there is a group of businesses supporting recovery and a group of businesses taking advantage of development opportunities for the future such as information technology, digital technology. Therefore, early access to cheap capital and pouring capital into infrastructure development to create a driving force for the economy is the expectation of the business community for the implementation of this support package.