Slow VAT refund affects business capital flow

According to Mr. Dau Anh Tuan, the shift in monetary policy from "tight and firm" to a more "flexible and loose" direction in the context of aiming for many development goals is very appropriate to the needs. If we look at the whole year of 2022, the capital flow of enterprises has encountered many difficulties, especially capital flow from bonds. Along with that, orders have decreased, and bank loans have very high interest rates...

“Currently, many businesses say that it is still very difficult to borrow cheap capital. Therefore, monetary policies must be put into practice so that businesses can borrow capital at reasonable interest rates to promote production and business activities. Because the economic figures in the first 6 months of the year show a very worrying picture of business and enterprises. If businesses cannot maintain operations and cannot grow, it will certainly affect economic growth, labor, employment, budget revenue, and in the long term, it will affect the existence of businesses,” said Mr. Dau Anh Tuan.

VCCI representative also stated the current situation, businesses in many industries are reflecting on the slow VAT refund issue, directly affecting businesses greatly in terms of capital flow.

“The National Assembly has just passed a resolution to reduce VAT by 2%. This is a great effort, but currently, for many industries, some state management agencies are preparing to increase and collect fees. I think that good governance in this field is needed to coordinate well, and policy resonance is very important in the coming time,” said Mr. Dau Anh Tuan.

To support businesses well in the future, banks and industries need to be proactive. Industries with great potential need to proactively have their own cooperation programs with banks and be proactive in finding suitable sources of capital. Even industries with potential, not just agriculture, forestry and fishery, can absolutely propose cooperation with the State Bank and can propose the Government to have its own programs and credit packages.

Along with that, for businesses to be able to use capital well, it is clear that the ability to disburse and manage the business is very important. According to Mr. Dau Anh Tuan, many Vietnamese businesses are small and medium-sized, so the ability to document and borrow capital is also a very important factor that needs to be improved in the coming time.

According to News