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Businesses need support to ride out stagnation   2008-12-28 - VOV

 Prime Minister Nguyen Tan Dung chaired a national conference in Ho Chi Minh City on December 25 to implement the National Assembly resolution on socio-economic development tasks set for 2009.

He analysed the domestic and global situation and called on ministries, sectors and localities to pool all resources to realise the Government’s five major solutions aimed at preventing an economic decline, maintaining steady growth and ensuring social welfare.

He asked them to make recommendations to the Government to effectively disburse US$1 billion from its economic stimulus package.

“The Government will iron out snags and create the best possible conditions for localities to overcome difficulties and fulfil tasks set for 2009,” said Mr Dung.

Representatives from 63 provinces and cities suggested that the Government draw lessons from the implementation of its monetary policies, increase the efficiency of State management in the property market and draw up a strategy for improving the competitive capacity of businesses.

They stressed that without easier access to bank loans, many businesses will face a period of stagnation and decline, leading to bankruptcy and massive lay-offs.

Nguyen Ngoc Phi, chairman of the Vinh Phu provincial People’s Committee, said banks should restructure outstanding debts run up by businesses, especially small- and medium-sized enterprises and those involved in agricultural production and rural development.

Other delegates proposed that the Government give more power to localities, offer preferential interest rates to irrigation, rural transport and housing projects and pay more attention to environmental protection.

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