Enterprises welcome government support

Thursday, May 22, 2014 18:01

Workers go back to work at enterprises in the Vietnam-Singapore Industrial Park in Binh Duong Province. According to a VSIP representative, the park was satisfied with the government support for firms that had suffered losses in the recent riot. — VNA/VNS Photo

HA NOI (Biz Hub) — Enterprises at the Vietnam-Singapore Industrial Park (VSIP) that had suffered losses in the recent riot were satisfied with the government support for them, reported a VSIP representative on May 22.

The representative told Biz Hub that 96 per cent of 236 enterprises of VSIP 1 and 2 in the southern Binh Duong Province have resumed operations, which were cancelled because of the recent riot that had erupted in protest against China's illegal placement of an oil rig Haiyang Shiyou 981 in early May in Viet Nam's continental shelf and exclusive economic zone.

She noted that the timely support of the government in exempting and reducing export and land taxes has helped the investors feel more secure and that the support should be given as soon as possible.

On May 21, in a meeting in Binh Duong, Deputy Prime Minister Vu Van Ninh asked the Ministry of Finance (MoF) and local authorities to support the enterprises.

Accordingly, insurers have to make a timely review of their damages for a compensation in simple procedures. He also requested MoF and other ministries to extend the deadline of tax declaration, tax payment as well as other budget items to the businesses.

The government will also reduce up to 30 per cent of the tax of special consumption in 2014 in case it did not exceed the value of the damaged property after compensation and will refund value-added tax for goods and services that were lost without compensation and invoices.

Lee Jong-Hoe, president of South Korean Association of Commerce and Industry in HCMC, told Tien Phong Newspaper that the government's action was timely and will regain the confidence of foreign investors.

Yamayuchi Kimio, Deputy Chairman of Japanese Business Association in HCM City, stated that Japanese companies in Binh Duong were also affected; however, they were back in business, adding that his association always encouraged the enterprises to learn and invest in Viet Nam because it was an attractive and stable market.

Binh Duong People's Committee Chairman Le Thanh Cung noted that 95 per cent had returned to work in the province.—VNS

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