VASEP proposed the Prime Minister consider approving a demand stimulus program to create motivation and maintain the purchase of aquatic materials and seafood , specifically a credit package of about 10,000 billion VND with low interest rates for aquatic products businesses to borrow, purchase and store materials.

At the meeting with the Prime Minister on the morning of April 13, representatives of associations and businesses proposed to the Government and ministries to support businesses in trade promotion; capital and bank interest rates support; reduce, delay payment of taxes and fees, promote value-added tax refund, etc. Which would promptly remove difficulties as well as support enterprises to maintain production and have goods ready when the market recovered.
Mr. Do Xuan Lap - President of the Vietnam Timber and Forest Products Association (VIFOREST) proposed to the Prime Minister, ministries and localities to soon allow the establishment of special regional and international exhibition centers such as Hanoi, Da Nang (currently not available) to promote product trade. Change the support level in the trade promotion support policy for Vietnamese enterprises to participate in international fairs, because the current policy is not very supportive.

VIFOREST suggested that trade counselors regularly coordinate with associations and businesses to provide information on policies and markets in important countries.

Regarding the VAT refund when exporting and produce wood, Mr. Do Xuan Lap said that the Ministry of Finance is currently considering the export wood industry as a risky industry in tax refund, because there are some businesses fraudulent declaration of value added tax in export statistics.

The association proposed the Prime Minister and the Ministry of Finance to consider and strictly handle enterprises that violated regulations. At the same time, there is a plan to solve and create VAT refund conditions timely for genuine enterprises.

With the current difficult export situation, VIFOREST proposes to have a policy for enterprises in the wood and forest product processing industry which allowed them to extend their debt due from 6 to 12 months; have a special credit package from the bank for enterprises to pay worker’s wages to in 2023; delay the payment of social insurance, without interest in 2023.

According to Ms. Nguyen Thi Thu Sac - President of the Vietnam Association of Seafood Exporters and Producers (VASEP), the consequences of the "decline" in the consumption market in the first half of 2023 have a negative impact on the number of people who produce domestic raw material is a big problem for Vietnam's supply chain.

Therefore, VASEP recommends the Prime Minister to consider approving a stimulus program to create motivation and maintain the purchase of aquatic raw materials and seafood, creating a good general psychology for farmers and fishermen to continue producing. Specifically, the proposed program is a credit package of about 10,000 billion VND with low interest rates for seafood enterprises to borrow, purchase and store raw materials.

Currently, seafood businesses are borrowing USD at a high rate of 4.2 - 4.9%. Ms. Nguyen Thi Thu Sac proposed the Prime Minister and the State Bank to consider and adjust directly the USD loan interest rate to less than 4% to support export enterprises. Seafood enterprises are entitled to a 3-5 month debt delay for loans due to be paid in the first and second quarters of 2023 and continue borrowing according to the limit in the situation of reducing exports in the first 6 months so that businesses can stably collect raw materials.

At the same time, continue to implement the policy of supporting 2% interest rate for enterprises, cooperatives and business households in the field of agriculture, forestry and fishery according to Decree No. 31/2022/NĐ-CP of the Government on supporting interest rates from the state budget for loans of enterprises, cooperatives and business households.

VASEP also proposed to reduce import tax on dried soybean from 2% to 0% to support Vietnam's aquaculture and livestock industry.

Source: Taichinhdoanhnghiep