Yen Bai accompanies businesses during recovery, development

Economy

Yen Bai accompanies businesses during recovery, development

Saturday, September 3, 2022

YBO - In order to remove difficulties, promote production and business development and economic recovery, Yen Bai province has implemented support policies concertedly and effectively.

Processing bamboo shoots for export at Yen Thanh joint Stock Company, Yen Binh district.

Departments and sectors have proactively and promptly supported enterprises through debt restructuring; rescheduling, postponement, exemption and reduction of taxes, fees and charges; extending a deadline for land rent payment; and reducing electricity bills and prices. According to the tax authority's calculations, the amount of money in support of businesses and people in taxes, fees, charges and land rent is estimated at about 90 billion VND (3.84 million USD) this year.

In addition, credit institutions have restructured loan repayment terms for 540 customers with outstanding loans totaling 1.116 trillion VND; exempted or reduced interest rates for 216 customers with a total loan balance of 325 billion VND; new loans with preferential interest rates with an accumulated amount since January 2020 of 18.79 trillion VND for 17,778 customers; and the reduction from 0.2% to 2.5%/year in interest rates for 54,403 ones, with a total amount of 24.45 trillion VND.

Implementing policies supporting employees and employers affected by the COVID-19 pandemic promptly and effectively, Yen Bai decided to assist over 31,474 employees, employers and business households facing difficulties with the budget of 14.67 trillion VND.

The social insurance agency has also provided support for 63,650 pandemic-affected locals with a budget of over 99.38 billion VND in accordance with Resolution No.116/NQ-CP of the Government and Decision No.28/QD-TTg of the Prime Minister.

Yen Bai also continues to implement a project to support the national innovative startup ecosystem until 2025 to create a startup and innovation environment in the locality, as well as the trade promotion programme for the 2021-2025 period to stabilise and develop traditional foreign markets, while focusing on exploiting markets that currently have free trade agreements (FTAs) with Vietnam, prioritising the export of the province's strong products, and speeding to digital transformation.

So far, the province has built and operated a software system managing and providing information about 138 OCOP (One Commune-One Product) products, supported over 100 local enterprises to complete e-commerce infrastructure on the e-commerce platforms, and put 457 products on the e-commerce platforms, of which 286 on postmart.vn, and 171 on voso.vn, with over 6,590 orders sold.

In the first seven months of 2022, Yen Bai saw 192 newly established enterprises with a combined registered capital of over 2.346 trillion VND, bringing the total number of enterprises in the province to 2,845, of which 77.88% report positive performances. The enterprises have offered jobs for 43,863 people, with an average monthly per capita income of over 6 million VND. In the reviewed period, enterprises in the province contributed 913.1 billion VND to the state budget, accounting for 63% of the total balanced revenue in the province.

Thong Nguyen

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Economy