Firms seek city’s support amid virus outbreak ​​​​​​​

Businesses wanted the Government to allow them to make social security payment at a later date and their credit line extended, saying it would help reduce the financial burden on firms during this difficult time.

“Our teachers have been on leave for a few months now and we have received no instruction on how to proceed with social security payment,” said Le Thi Nam Phuong, director-general of Sky-line education group, saying it would be a big help if her group may be allowed to delay the payment until June or September.

Ha Duc Hung, chairman of the city’s young entrepreneurs association said businesses, more than ever, must support each other. Hung asked the city to help firms to connect and find ways to cooperate with each other. Meanwhile, firms must continue to seek out new markets and improve efficiency as long-term measures.

Vo Minh, director of the city’s branch office of the State Bank of Vietnam (SBV), said the central bank is aware of the difficulties businesses are facing. The central bank has been in talks with commercial banks to work out a support scheme that will see interest rate slashed and credit line extended as early as next week.

For the time being, SBV has allowed businesses to delay payments due between January 23 and March 31 without affecting their credit rating.

Cao Tri Dung, chairman of the city’s tourism association said the city may consider declaring itself as a safe destination if there will be no new infections by mid March. Tourism promotion campaigns, in cooperation with nearby provinces of Hue and Quang Nam, can then be resumed.

The city’s tourism department has been working closely with domestic and international airlines to ensure flights to and from non-infected destinations continue uninterrupted.

Ho Ky Minh, deputy chairman of the city’s People Committee said Da Nang must stay ahead in both fighting the virus and economic development, stressing they are both top priorities for the city.

The city leader promised Da Nang will quickly implement SBV’s support scheme as soon as possible. Firms are told to contact the city’s leaders if they encountered any difficulties in working with banks and tax authorities.