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HCMC cuts electricity/water bills, taxes to support Covid-19-hit firms

4/28/2020 4:18:59 PM
 


 Employees work at an automobile and motorcycle component manufacturing facility. HCMC will reduce local firms’ production costs, including electricity and water bills, taxes and land-use fees, to help them survive the coronavirus pandemic - PHOTO: VNA

HCMC - HCMC will reduce local firms’ production costs, including electricity and water bills, taxes and land-use fees, to help them survive the coronavirus pandemic and make a quick recovery.

HCMC Vice Chairman Tran Vinh Tuyen on April 21 signed on a plan to support enterprises during and after the coronavirus pandemic until late 2020.

The municipal government assigned the HCMC Power Corporation to offer electricity bill reductions to residents and firms that temporarily shut down due to the coronavirus pandemic based on the prime minister’s directives, the local media reported.

Aside from providing water bill reductions to poor laborers, Saigon Water Corporation was told to work out policies to cut water supply charges for service providers, manufacturers and firms in the city.

The HCMC government also asked the HCMC Tax Department to allow Covid-19-affected businesses and individuals to delay payments of taxes and land-use fees.

As for social insurance payments, the HCMC Social Insurance Agency was tasked with instructing organizations, units and firms affected by Covid-19 to suspend their payments for social insurance benefits, such as retirement and death.

Apart from this, the HCMC government told the municipal Department of Labor, Invalids and Social Affairs to cooperate with the HCMC Export Processing and Industrial Zones Authority and 24 districts to support employees who are out of work due to the pandemic.

The HCMC branch of the State Bank of Vietnam was also urged to work with commercial banks and credit institutions citywide to create more favorable conditions for Covid-19-hit customers and firms to access loans and to restructure loan payment periods and lower lending rates.

Besides this, the city is considering simplifying administrative procedures, including for customs, to boost goods transport and export.

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