Recommendation on assisting enterprises in importing timber from Laos
Thu, 30 Nov 2017 09:32:00 | Print | Email Share:
Name of recommendations: Recommendation on assisting enterprises in importing timber from Laos
Status: Has been incompletly responded
Recommended by units: The Quang Binh Business Association, the Huong Khe District Business Association of Ha Tinh Province
Official letter: 1680/PTM - VP, dated: 2017-07-14
Recommended contents:
- To request the Vietnam Government and relevant ministries and agencies through the diplomatic channel to intervene and recommend to the Government and related ministries and agencies in Laos to allow Laos’ enterprises to export timber to Vietnam enterprises for the number wood signed and contracted prior the Directive dated May 13, .2017 of Laos Government issued.
- Regarding domestic capital policies: It is proposed that the Government, related ministries and agencies adopt policies to support and provide preferential treatment for capital. Commercial banks with special interests to facilitate the reduction of interest rates, extension and freezing of debts and other preferential policies for timber import and export enterprises from Laos during the difficult period as Directive 15 / CT-TTg on ceasing the export of unfinished timber products from native forests of the Prime Minister of Laos
Responded by units: The Ministry of Foreign Affair, The State Bank of Vietnam
Official letter: No 6857/NHNN-VP, dated: 2017-08-28
Responded contents:
Over the past time, the State Bank of Vietnam has got many practical and effective solutions to support the production and business activities of enterprises such as: Directing credit institutions to take measures to reduce costs and improve operational efficiency. There is a basis for lowering lending interest rates to share difficulties with enterprises; To prioritize credit capital sources for production and business activities; To simplify some documents and procedures to ensure convenience and transparency; To strengthen the effective connection program between banks and enterprises nationwide with many direct support measures such as increasing new and restructure loans, to reduce lending interest rates; to implement many credit programs to support businesses with reasonable interest rates.
For timber importers from Laos in Ha Tinh Province, outstanding loans at commercial banks in the province are VND 286,619 million and no bad debt has been incurred due to the disbursed loans in 2017. In cases of difficulties in repaying loans, enterprises are requested to work directly with credit institutions to be considered for removal according to current regulations.
In addition, the State Bank of Vietnam is aware of the difficulties of importing wood from Lao1, which has been reported by the Ministry of Industry and Trade. On that basis, the Ministry of Industry and Trade held an exchange, working with leaders of Laos’ Ministry of Industry and Trade in Vientiane, and had a note to the Lao Ministry of Industry and Trade to carry out inventory and verification of timber shipments of enterprises in localities of Laos and in the spirit of cooperation and friendship between the two countries to consider, take measures to remove, treat and avoid damage to enterprises that have invested, exploited and traded timber as well as have paid or transferred money (in a part or in whole) towards facilitating the transfer of remaining Laos’ timber to Vietnam.
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