Ho Chi Minh City

HCMC promptly implements key task of providing COVID-19 relief loans to business

SGGP
One of the most important tasks of HCMC is providing relief to businesses hit by COVID-19 pandemic to protect them from bankruptcy, Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan stressed at the 42nd session of the 10th-term HCMC Party Executive Committee.

Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan speaks at the 42nd session of the 10th-term HCMC Party Executive Committee. (Photo: SGGP)

Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan speaks at the 42nd session of the 10th-term HCMC Party Executive Committee. (Photo: SGGP)

The city’s authorities plan to help 90 percent of the enterprises affected by the novel coronavirus by September.
The municipal Party chief also emphasized the city’s leading role in driving the economic and social development of the whole country due to increase of the added value. Accordingly, the HCMC’s average growth rate of added value per 1 km2 that has been created within three years is equivalent to the figure of the whole country has been created in 100 years.
The southern hub’s leading role is also evaluated based upon its maintenance of the average labor capacity, the increases of contribution to the national budget the national budget, the attraction of sources of social capital and FDI.
HCMC affirms its pioneering role in building an innovative district in the eastern part of the city, and high-tech parks; launching projects of creative and innovative startups, banking-enterprises link-up program that helps firms have been able to approach capital with proper interest to expand and develop their business.
However, the city’s growth rate has recently decreased. The reason is that Ho Chi Minh City has been allowed to keep just 18 percent of its annual revenues and submit the rest to the national budget in the 2017-2020 period, said Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan.
HCMC promptly implements key task of providing COVID-19 relief loans to business ảnh 1 Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan speaks at the 42nd session of the 10th-term HCMC Party Executive Committee. (Photo: SGGP)
HCMC promptly implements key task of providing COVID-19 relief loans to business ảnh 2 Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan and his deputy, Tran Luu Quang
HCMC promptly implements key task of providing COVID-19 relief loans to business ảnh 3 Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan talks with delegates in the conference.

By staff writers – Translated by Kim Khanh

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