Authorities in HCM City have launched aid packages to help local businesses, especially small- and medium- sized enterprises (SMEs), maintain their operations.

Traffic in HCM City (Photo: VNA)

The municipal People’s Committee has called on companies to register for tax payment extensions and tax adjustments for household businesses that have already suspended operations.

It is also reviewing and assessing the impact of COVID-19 on tourism businesses to put forward suitable solutions, and will devise recovery scenarios once the pandemic is brought under control.

Local authorities have called for assistance from major businesses for SMEs and introduced measures to promote digital transformation, the digital economy, online public services, cashless payments, and e-commerce. They also pledged to create favourable conditions for companies to access capital.

As of the end of June, the HCM City Tax Department had handled 684 value-added tax procedures for businesses and provided refunds of over VND4.5 trillion (US$193.94 million).

An estimated 2,000 companies in the city with 136,730 employees have ceased operations, and close to 2,450 others filed documents seeking aid. Around 255,900 local companies and 43,780 individuals have been given tax and land lease payment extensions.

Meanwhile, commercial banks had helped some 230,000 customers with loans totalling VND384.61 trillion as of early July.

The HCM City Power Corporation (EVN HCMC), meanwhile, has provided customers with support of about VND1.7 billion in the last three months.