Ho Chi Minh City Focuses On Preventing Businesses From Bankruptcy

11 Jul Ho Chi Minh City Focuses On Preventing Businesses From Bankruptcy

Ho Chi Minh preventing businesses from bankruptcy

The world and regional economic circumstance are still having difficulties and the COVID 19 pandemic is still unpredictable. Ho Chi Minh authorities are implementing a dual-task method in both pandemic prevention and socio-economic development along with the government’s macro policies in 2020.

SOME TYPICAL SOLUTIONS PREVENTING BUSINESSES FROM BANKRUPTCY

1. Creating a favorable condition and ensuring workplace safety for international business experts to return to work in the coming time.
2. Income support for workers in order to help remain stable employment and workforce.
3. Ensuring company’s liquidity.
4. Manufacturing and service recovery is aimed to domestic markets of 100 million people.
5. Supporting to reduce business costs.
6. Encouraging domestic production to replace imported goods, especially local commodities and expanding the domestic value added including exported products.
7. Supporting technological innovation for the manufacturing businesses, accelerating the digitization process of business and industry management.
8. Continuing innovative startup program.
9. Providing practical support for 8000 temporarily ceased operations. Attempting to support these companies in July and September of 75% and 90% respectively.
10. Ho Chi Minh commits to preparing land conditions, infrastructure, human resources to welcome Foreign Direct Investment (FDI) inflows, focusing on multinational corporations as well as high-tech and environmentally friendly companies.
11. Finally, forecasting and cooperating with trade partnership countries reopening their borders for tourism at the appropriate time.Preparing strategies for tourism development after the end of the pandemic; implementing tourism stimulus packages after the pandemic; preparing plans to enhance tourism promotion and tourism product diversification.

=>> Perspective from VIVA:New signals from Ho Chi Minh City leaders show the trend and opportunities for foreign experts and businesses to return to work, policies to attract and receive FDI inflows from large corporations due to Covid 19 influence and US-China trade war, effects of the Asia’s QUAD program initiated by the USA and policies to encourage domestic business activities.

Businesses and investors can take it for granted to find favorable conditions and opportunities to enter the market, recover and prepare post-COVID19 business development plans.

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