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Vietnamese govt to support businesses during economic recovery

12 Apr '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Vietnam’s ministry of finance will support businesses while implementing the socio-economic recovery and development programme. Finance minister Ho Duc Phoc recently said specific areas will include accessing markets, capital, labour and infrastructure as well as open administrative procedures. The ministry will back firms with supportive solutions.

The aim is to make the domestic business community overcome difficulties to restore and develop production, and contribute to economic recovery and development.

The minister was addressing a forum on ‘Fiscal policy to support the socio-economic recovery and development programme’ in Hanoi by Thoi bao Tai chinh (Vietnam Financial Times) and Da tu (Investment Review).

The ministry has heard opinions from businesses and reported those to authorities to remove obstacles to business development. At the same time, it also promulgates policies to achieve financial development goals, ensure strong and harmonious economic development, and improve national competitiveness, according to Phoc.

The customs department has also continuously implemented reforms to create more favourable conditions for businesses. Last year, it completed regulations to shorten customs clearance time and reduce costs for enterprises.

ALCHEMPro News Desk (DS)

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