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To implement Resolution No. 35/NQ-CP of the Government about business support and development by 2020, Binh Duong province has carried out many effective solutions. In particular, from beginning of the year 2020, the Covid-19 has caused many difficulties to companies, requiring high responsibility, accountability, and support from all governmental levels.

Amidst the Covid-19 spreading, Binh Duong has implemented many solutions to supporting enterprises, stabilize the socio-economic situation. In photo: Production activities at Thai Binh Joint Stock Company.

To heighten accountability

Over the first 6 months of 2020, the province has newly-established 3,017 enterprises with registered capital of VND18,021 billion, a decrease of 4.9% in terms of enterprises' number and decrease of 11.2% in terms of registered capital compared to the same period in 2019. At present, the whole province has 43,184 enterprises registering production and business activities, with a total registered capital of VND369,027 billion.

According to provincial Department of Planning and Investment, the number of newly-established enterprises during the first months tended to decrease. This indicated negative impacts of the pandemic on production and business situation in general. However, enterprises are waiting for clearer opportunities after the Covid-19 is under control. Due to the spreading of Covid-19, the province set up plans for economic development, social security and defense guarantee. The province issued and deployed urgent solutions to solve difficulties in production and business activities and to ensure social security.

Currently, Binh Duong has implemented a wide range of solutions for socio-economic stability, to support enterprises to maintain production, such as: To enhance the reform of administrative procedures, application of information technology, expand level-3 and level-4 online public services to best assist people and enterprises; funding new establishment of enterprises; to implement the Bank-enterprise connection program; launch credit packages supporting businesses lending, such as: to restructure credit period, reduce or exempt loan interest, keep debt groups intact, reduce fees... for customers having difficulties due to the Covid-19.

Effective support

To further improve the investment and business environment as a solution to stimulate socio-economic growth, Department of Planning and Investment implemented policies to assist business; collaborated with departments and branches to implement solutions to ensure favorable conditions for enterprises to stabilize their production and business.

Truong Thuy Lien, General Director of Lien Phat Company, Vice chairman of Binh Duong Leather Footwear Association, said that in addition to financial supporting policy, reform of administrative procedures was the solution to support enterprises effectively in all circumstances. The pandemic had put many economic areas into stagnation period, the simplification of administrative procedures and the incentive policies of the province have been appreciated by enterprises. This also demonstrated the government's effort to overcome difficulties together with business community.

Entering a new stage in the Covid-19 prevention control, forecasts said that many economic areas such as tourism, residential services, recreation... would face difficulties in attracting new businesses. Meanwhile, enterprises in many areas have also faced the risk of termination. To overcome the difficulties, besides supporting solutions from the Government, this is also an occasion for businesses to continue their efforts to find new directions in line with market demands to survive and thrive, because risks are always accompanied by opportunities.

Phu Huu Minh, Deputy Director of Department of Planning and Investment, said that with specific solutions, the province was implement many central and local policies to support enterprises. The support policy covers all economic areas and sectors. Department of Planning and Investment is also cooperating with relevant agencies to implement solutions to improve the business environment, attract domestic and foreign investment to make good use of development opportunities, especially to seize the opportunity of changing the investment capital flow from other countries; At the same time, to focus on solutions to improve transparency on land data; invite online tenders; informal expenses; Transparency of planning, processes, procedures; Cut off cumbersome procedure; Improve online public services of level 3, 4; Support enterprises in seeking export markets; Access to capital and funds... In the future, Department of Planning and Investment will continue boosting the reform of administrative procedures, creating all the most favorable conditions to support investors and enterprises.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh