Consider adjusting loan interest rates to support seafood businesses

Deputy Prime Minister Le Minh Khai has just signed a document on the Vietnam Association of Seafood Exporters and Producers (VASEP) proposing 6 solutions to remove difficulties for seafood businesses.

Based on the direction of the Prime Minister, Deputy Prime Minister Le Minh Khai directed the ministries and agencies: Finance, Labor, Invalids and Social Affairs, Public Security, Construction, Planning and Investment, Agriculture and Rural Development, State Bank of Vietnam (SBV), Social Insurance, Vietnam Bank for Social Policies,... according to their assigned functions and tasks to review and handle VASEP's recommendations according to regulations, and report to the Prime Minister the handling results before July 25.

Seafood businesses are facing many difficulties to maintain production (Photo: Minh Dung)

Specifically, the State Bank shall preside over and coordinate with the Ministry of Agriculture and Rural Development and relevant ministries and agencies to review and handle in accordance with regulations recommendations on adjusting lending interest rates, granting credit, and restructuring debts in accordance with solutions prescribed in Resolution No. 88/NQ-CP dated June 8, 2023, a credit package of VND 10,000 billion to support enterprises in the forestry and fishery production and processing industry in accordance with the direction of the Prime Minister.

Regarding value-added tax refunds for people and businesses according to legal regulations, the Deputy Prime Minister requested the Ministry of Finance to preside over and coordinate with relevant ministries and agencies to urgently and seriously implement Resolution No. 88.

At the same time, consider and handle proposals on extending policies on tax exemption, reduction, and extension of tax and land rent payment, and exemption and reduction of fees and charges until the end of 2023; expand the scope of application of the 2% VAT rate reduction to all goods and services with a 10% tax rate according to regulations and instructions of Government leaders.

The State Bank and the Vietnam Bank for Social Policies consider and handle the proposal to continue lending to businesses from the Vietnam Bank for Social Policies to pay wages for workers during suspension of work.

Regarding the study, amendment and proposal to reduce the unemployment insurance contribution rate from 1% to 0.5%, the Ministry of Labor, Invalids and Social Affairs and Vietnam Social Security are assigned to consider and handle according to regulations the proposal to reduce the unemployment insurance fund contribution rate for enterprises until the end of 2023.

Along with that, research, revise, and propose to reduce unemployment insurance contribution rate from 1% to 0.5%, temporarily suspend occupational accident and disease insurance payment until the end of 2023, and allow businesses to defer social insurance payment from 3-6 months.

The Deputy Prime Minister also requested ministries and branches to consider and handle according to regulations recommendations on research and propose solutions in the direction of reviewing and amending regulations on fire prevention and fighting to classify the level of fire prevention and fighting risks for production and business activities; apply fire prevention and fighting conditions according to the level of risk, minimizing unnecessary costs for businesses.

In addition, consider and handle according to regulations recommendations on simplifying investment procedures for seafood processing factories to invest in increasing capacity and innovating technology; and reducing the level of union fee payment.

Seafood exports recorded the highest month since the beginning of the year . Exports of major seafood products in the first 5 months of 2023 all decreased, but there were positive signs when May recorded the highest sales month since the beginning of 2023.

Source