Tra Vinh province stepping up robust support for production rebound efforts

Tra Vinh province stepping up robust support for production rebound efforts

According to statistics by Tra Vinh authorities, as of September 30, about 20,000 labourers were suspended from work, triple the figure from last year. Meanwhile, many businesses took a nosedive in their revenues on the back of skyrocketing pandemic-related costs, such as maintaining stay-at-work schemes, vaccinations, and extensive testing.

The pandemic has caused production and supply chain disruptions, leaving critical impacts on businesses’ operations as well as labourers’ motivation.

Tra Vinh People’s Committee has thus enacted a comprehensive programme on resuming stable production and business activities and quickly reviving the economy to ensure social wellbeing and efficient support to both employers and employees.

The province aims to win back the attention of at least 90 per cent of investors to resume production and business activities by the year-end, as well as reach 80-90 per cent of the plans on new business setups and job creations.

The State Bank of Vietnam’s (SBV) Tra Vinh branch has guided the implementation of wide-ranging measures on business support considering the SBV’s diverse circulars on debt restructuring and exemption and reduction of interests and fees to support pandemic-hit customers.

Under the direction of the provincial People’s Committee, supporting businesses in curtailing expenses and facilitating businesses’ money stream have been given priority in all sectors.

Accordingly, Tra Vinh Department of Agriculture and Rural Development has enacted a policy on fee reductions in the veterinary field to support people and businesses. The Department of Health has engaged in testing COVID-19 for labourers working in businesses across the province.

The local Department of Labour, Invalids, and Social Affairs has applied a policy to support labourers currently suspended or terminated due to pandemic, in line with the government’s Resolution No.68/NQ-CP dated July 1 and Decision No.23/2021/QD-TTg dated July 7.

The Department of Industry and Trade is working with Tra Vinh Power Department to reduce power bills for citizens and businesses in the province.

Meanwhile, many local firms have been taking part in diverse online trade fairs and e-commerce platforms deployed by domestic and international organisations in a bid to find output markets for their products, as well as new export markets to replace traditional ones.

Efforts were also made to host meetings with foreign business associations and firms to help local ones unclog difficulties.

Along with lowering water bills for pandemic-hit firms and locals, Tra Vinh People’s Committee has instructed the Tax Department to deploy policies on payment deadline extensions for VAT as well as corporate and personal income tax, and land rents in 2021, along with simplifying relevant procedures.

More directly, Tra Vinh Social Securities’ supports employers and employees with capital taken from the Unemployment Insurance Fund in light of Decision No.28/2021/TT-TTg from October.

As of now, Tra Vinh is home to nearly 3,200 businesses, including 43 foreign-invested ones, with total registered capital amounting to $2.12 billion, employing more than 95,000 labourers.

The province has lured over 380 projects, including 41 foreign ones worth $3.1 billion in total committed capital, and 342 domestic investment projects valued at $5.3 billion.