The southern province of Binh Duong plans to earmark 1 trillion VND (47.6 million USD) to assist local companies facing financial difficulties.
Le Thanh Cung, Chairman of the provincial People's Committee, mentioned the proposal while talking to executives of 100 companies at a recent meeting held to review the assistance given to those affected in the anti-China riots three months ago.
The package will offer soft loans for companies to lease and buy equipment and upgrade facilities starting in September.
Cung said the province will assist 50 percent of the investment package and also provide a 50 percent interest loan.
According to a report from the People's Committee, the province has provided support to companies in 11 different areas, refunded tax worth 525 billion VND to 203 enterprises, and waived tax and land rentals worth 155 billion VND (7.3 million USD) for 594 enterprises.
But Cung, admitting that insurance companies have been slow in assessing companies' losses in the riots and making settlements, promised to help speed things up by reporting to the government.-VNA
Le Thanh Cung, Chairman of the provincial People's Committee, mentioned the proposal while talking to executives of 100 companies at a recent meeting held to review the assistance given to those affected in the anti-China riots three months ago.
The package will offer soft loans for companies to lease and buy equipment and upgrade facilities starting in September.
Cung said the province will assist 50 percent of the investment package and also provide a 50 percent interest loan.
According to a report from the People's Committee, the province has provided support to companies in 11 different areas, refunded tax worth 525 billion VND to 203 enterprises, and waived tax and land rentals worth 155 billion VND (7.3 million USD) for 594 enterprises.
But Cung, admitting that insurance companies have been slow in assessing companies' losses in the riots and making settlements, promised to help speed things up by reporting to the government.-VNA
