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| Le Thanh Cung, chairman of the province People's Committee, mentioned the proposal while talking to executives of 100 companies at a recent meeting held to review the assistance given to those affected in the anti-China riots three months ago. — VNA/VNS Photo Quach Lam |
BINH DUONG (Biz Hub) — The southern province of Binh Duong plans to earmark VND1 trillion (US$47.6 million) to assist local companies facing financial difficulties.
Le Thanh Cung, chairman of the province People's Committee, mentioned the proposal while talking to executives of 100 companies at a recent meeting held to review the assistance given to those affected in the anti-China riots three months ago.
The package will offer subsidised loans for companies to lease and buy equipment and upgrade facilities starting in September.
Cung said the province will assist 50 percent of the investment package and also provide a 50 percent interest subsidy.
According to a report from the People's Committee, the province has provided support to companies in 11 different areas, refunded tax worth VND525 billion to 203 enterprises, and waived tax and land rentals worth VND155 billion (US$7.3 million) for 594 enterprises.
But Cung, admitting that insurance companies have been slow in assessing companies' losses in the riots and making settlements, promised to help speed things up by reporting to the government. — VNS