As of early April, most socio-economic indicators of Khanh Hoa Province have decreased sharply compared to those in the same period last year, according to a report of the provincial People's Committee.
As of early April, most socio-economic indicators of Khanh Hoa Province have decreased sharply compared to those in the same period last year, according to a report of the provincial People's Committee. Facing that situation, the provincial People's Committee has implemented many solutions to boost socio-economic development of the province.
Sharp fall in indicators
According to the report, in the first months of the year, the province's economic growth rate decreased by 9.3%. Due to the influence of the Covid-19 epidemic, from the end of January until now, in the province, supermarkets and shops serving foreign tourists have decreased in sales, some stores have been temporarily closed. The total retail sales of goods and services in the whole province reached only VND17,843 billion, down 18.71%. Also during this period, only 369 new enterprises were established, down 22.8% over the same period. The total registered capital is about VND1,813 billion, down by nearly 13%.
According to Director of the provincial Department of Planning and Investment Tran Hoa Nam, the whole province has nearly 1,700 businesses affected by the Covid-19 pandemic. Of the sum, businesses in accommodation, dining and tourism accounted for 33.5%; trading accounted for 21.6%; construction sector accounted for 13.8%; manufacturing and processing sector accounted for 10.7%; the rest were businesses in the field of airport services, advertising, transportation business... In addition, there were 1,211 business households and individuals affected. Particularly, households and individuals trading in petroleum, goods, motorbikes, utensils, agricultural products, seafood, food, garments, animal feed, fruits... accounted for 52.5% .
Due to difficulties in business and production active, the provincial State budget revenue was only VND4,088.92 billion, as 23.7% of the estimate and down 16.9% over the same period. In particular, the revenue from import and export reached more than VND712 billion; domestic revenue reached nearly VND3,400 billion.
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A lot of solutions
In order to promote the socio-economic development, during the past time, the provincial People's Committee has implemented many measures such as directing departments and branches to strongly improve the investment environment, reforming administrative procedures, removing difficulties in production and business to create motivation for enterprises to develop. The State Bank of Khanh Hoa Branch has directed branches of credit institutions in the province to actively take specific measures to support businesses and people in credit; continue stepping up the supply of convenient monetary and payment services. Banks strictly abide by the State Bank's regulations on lending interest rate ceilings for priority fields; balance sources to meet capital needs.
The provincial Tax Department has extended the deadline for paying tax and land rent for enterprises; timely implement the exemption, reduction, extension of debt, tax refund to help taxpayers to solve difficulties. In addition, economic sectors and fields also review, check and evaluate existing resources to exploit, mobilize and supplement the capacity of the economy, creating a motivation for the social - economic development.
According to Chairman of the provincial People's Committee Nguyen Tan Tuan, in order that the province's socio-economic recovery will soon recover after the epidemic, the provincial People's Committee has proposed the Ministry of Finance to consider granting permission for tourism businesses in the province to delay submission of taxes and social insurance for 2019 and 2020 through mid-2021, exempt VAT for the first and second quarter of 2020, and exempt 50% VAT for the remaining months of the year. The provincial People's Committee also proposed the Government to have policies on tax reduction, land rent exemption and reduction, interest rate support for banks, extension of bank loans, extension of time to pay social insurance for enterprises affected by the Covid-19 epidemic without penalty for late payment. The provincial People's Committee also asked the General Department of Taxation to give suggestions on solutions to support businesses before the difficulties caused by the epidemic. In particular, it is recommended that the Government consider and support additional investment in important projects for Khanh Hoa Province in order to stimulate the economy and create motivation for economic development and job creation for laborers.
Dinh Lam
Translated by T.T
