After the rain, the sky clears up again, the whole country joins hands with people and businesses to recover after the storm and flood

Storm No. 3 (Yagi) is the strongest storm in the East Sea in the past 30 years. With super typhoon-level winds, Yagi has "devastated" Northern Vietnam, not only in coastal provinces and cities, but also in the capital Hanoi and the northern mountainous provinces, causing heavy damage to people, infrastructure and economy.

According to the report of the Ministry of Planning and Investment, Typhoon Yagi and its circulation have a very large area of ​​influence, spanning 26 provinces and cities in the entire North and Thanh Hoa. This area accounts for 41% of the country's GDP and 40% of its population.

Preliminary, incomplete estimates from the Ministry of Planning and Investment show that property damage caused by storm No. 3 is about 40,000 billion VND. In addition, the large damage caused by the storm may cause the growth rate in the last 6 months of the year of the whole country and many localities to slow down, especially some localities such as Hai Phong, Quang Ninh, Thai Nguyen, Lao Cai, ...

Storm No. 3 causes damage to businesses in Hai Phong. Photo: haiphong.gov.vn

The State Bank's survey of localities affected by storms also showed that storms and floods caused huge damage, many households raising aquatic products and agricultural products lost everything. Tourism businesses were severely affected, hotels, restaurants, and eateries were devastated, many establishments had to be rebuilt from scratch... If you do business, you have to borrow capital, but the capital has flown away with the storm and the flood, businesses are facing debt and need new capital to reproduce.

At the Government Standing Conference working with large enterprises on solutions for socio-economic development, held on September 21, economic experts and managers analyzed the situation and proposed many urgent solutions such as: Debt cancellation, debt extension, loan package implementation with 0% interest rate... At the present time, any solution applied will give a breath of fresh air to enterprises and the sooner the recovery of enterprises, the more stable and developed the economy will be.

A very encouraging sign is that the banking sector has stepped in and provided timely solutions such as: Exemption and reduction of loan interest rates, extension of repayment period for cases of damage caused by storms and floods. Up to now, 32/40 banks have registered new credit packages for people and businesses affected by storm No. 3 under the direction of the Prime Minister with a total scale of 405 trillion VND, interest rates lower by 0.5 - 2%. In addition, up to now, most commercial banks have proactively reduced interest rates for customers affected by storm No. 3 without customers' requests... These solutions reduce debt pressure, at the same time creating a capital support for businesses to return to the market.

Leaders of the State Bank visited, shared and encouraged some aquaculture households in Quang Yen town (Quang Ninh) that were severely affected by storm No. 3. Photo: Quynh Trang

However, according to some experts, for people and businesses to recover quickly, they cannot rely solely on the support of banks. Another source of support is the tax sector, tax exemptions for businesses at this time are very meaningful support. Not to mention, it is possible to survey businesses and enterprises that have suffered heavy losses, depending on the level, to exempt taxes for the next 1 year or 6 months to "relax the people".

At the same time, another resource is that businesses in the insurance industry must fulfill their compensation responsibilities, quickly, transparently with the spirit of maximum customer support. This is the time for insurance companies to demonstrate their capacity and reputation in the market. At the same time, it also helps the insurance industry regain its "image", especially after the crisis of confidence in 2023.

Experts agree that, regardless of the policy, the important thing is to implement it immediately and quickly to achieve the best results. Furthermore, the procedures and conditions need to be clear and simple so that people and businesses can easily access them.

At the above-mentioned Government conference, Prime Minister Pham Minh Chinh also brought much hope through important commitments. The Prime Minister emphasized: The Government is always committed to accompanying and protecting the legal and legitimate rights and interests of businesses in all circumstances. The Government will not criminalize economic relations, research and abolish "sub-licenses", and at the same time remove barriers that cause harassment, inconvenience, and increase compliance costs for businesses.

The Prime Minister also affirmed: “Resolving difficulties for businesses is also resolving difficulties for the economy. When businesses develop, the country develops. The spirit is: Where there is a problem, solve it; where there is a problem, solve it. Do not push it around, do not avoid it, do not cause trouble or harassment.”

In particular, when answering comments and questions from businesses about short-term and long-term economic development policies, Prime Minister Pham Minh Chinh affirmed that the Government will keep its promise, say what it says, do what it commits to, in order to ensure harmonious interests between people, businesses and the State.

The very practical commitments of support from the Government and Prime Minister Pham Minh Chinh and the active participation of ministries and branches will certainly become a driving force and an important guarantee to help the business community feel secure in doing business.

The rest depends on the businesses themselves. If they act in the spirit of the “6 pioneers” suggested by the Prime Minister, including pioneering in solidarity, unity, mutual support – working together, enjoying together, winning together – then despite difficulties, businesses will still develop and the Government will achieve its goals.

Every rain will stop, every storm will dissipate, after the rain the sky will be clear again, the whole country is ready to support people and businesses to recover after storms and floods.

Source: https://congthuong.vn/sau-con-mua-troi-lai-sang-ca-nuoc-dong-hanh-cung-nguoi-dan-doanh-nghiep-vuc-day-sau-bao-lu-348342.html