Many transport enterprises in HCMC are facing bankruptcy due to Covid-19. The city has rolled out various supporting policies for businesses affected by the pandemic - PHOTO: LE ANH

HCMC - HCMC has rolled out multiple policies to help businesses affected by Covid-19 overcome difficulties and recover, according to a document issued by the municipal government on August 16.

Accordingly, the HCMC government asked banks in the city to extend the debt repayment deadlines and reduce interest rates for these businesses.

The city is considering proposing that the State Bank of Vietnam launch more credit packages for manufacturing companies and distributors of essential goods.

The city also suggested the Government increase support for businesses that are applying the stay-at-work mode and simplify procedures to provide them with easier access to credit packages.

The city has assigned the Vietnam Bank for Social Policies - HCMC branch to work with districts to help businesses borrow money at a 0% interest rate so that they can pay the salaries of their employees.

Besides, the city will extend repayment deadlines for value added tax, corporate income tax and land rentals in 2021. The city also suggested the Government cut land rentals by 50% for businesses that have been forced to shut down due to the pandemic.

The city proposed that the Ministry of Industry and Trade reduce electricity prices for businesses that are applying the stay-at-work mode like for quarantine centers.

The city is offering free tap water for quarantine centers from June until the end of this year, reducing tap water prices by 10% for all residents in the city from September to November and cutting water prices for businesses applying the stay-at-work mode.

The HCMC government asked all districts and Thu Duc City to deploy these policies in August.

These policies are expected to help businesses in the city maintain operations and recover, contributing to the city’s socioeconomic development and budget revenues.