17:05' 02/03/2009 (GMT+7)
VietNamNet Bridge – The HCM City People’s Committee has introduced a programme to stimulate investment and consumer spending in the city from now through 2010.
To stimulate investment, the city will help enterprises access soft loans for renovating production technologies and expanding production to meet export orders.
To stimulate investment, the city will help enterprises access soft loans for renovating production technologies and expanding production to meet export orders.
The city said that it will also give priority in its budget disbursement to major public projects in an effort to resume construction which previously stalled due to the high price of building materials.
Moreover, according to the programme, the city will continue to invest in infrastructure and other projects that do not have a direct source of income to pay back debts incurred during construction process.
The city will also focus on reforming administrative procedures in investment and construction sectors as well as facilitate land compensation, site clearance, and relocation for residents whose houses are reclaimed for public projects.
To help enterprises retain more investment capital, the city will focus on exempting and reducing income and other taxes for businesses. The city will also grant enterprises extensions of time during which to pay taxes.
To help stimulate consumer spending, the city will provide information to enterprises on global and domestic market conditions. It will also strengthen co-operation with Vietnamese foreign affairs and trade offices overseas to seek and expand export markets.
The programme seeks to complete a goods distribution network to control and expand the domestic market as well as develop the retail system in rural areas.
Additionally, the city will provide loans with favourable terms to investors to build houses for sales or rent to low-income earners. The city said it will also help low-income people borrow loans for housing.
Finally, the programme calls for enterprises to co-operate in providing package tourism services with reduced prices for tourists.
The capital for the programme will come from various sources, including the city’s urban bonds, bank loans and the Government fund for stimulating investment and consumer spending.
The city will issue urban bonds totally worth VND20 trillion (US$1.1 billion).
VietNamNet/Viet Nam News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment