Thu. Feb 22nd, 2024

Enterprises call for support to raise growth

HA NOI (VNS)— Several export enterprises called for lower loan interest rates and exchange rates, saying they might not see as much growth as expected this year due to increasing input costs.

Vu Thanh Son, general director of the Ha Noi Trade Corporation, said that increased electricity and petrol prices and transport costs made Vietnamese products less competitive.

The Government’s exchange rate stabilisation policy also cut into export profits, reducing them by as much as 50 per cent, he said.

Vu Tuan Giang, director of an import-export company, urged the Government to keep the prices of electricity and petrol stable and adjust the exchange rate.

Doan Trong Ly, chairman of the Animal Production, Processing and Import – Export Joint Stock Company, proposed cutting the loan interest rate to 10 per cent to help increase the competitiveness of domestic enterprises.

Most domestic enterprises were small or medium-sized with limited resources, he explained, and were struggling with competition from foreign-invested enterprises.

Viet Nam’s export turnover came mostly from the FDI sector, he added.

Previously, an official of the State Bank of Viet Nam said that it was not time to adjust the exchange rate as the devaluation of the Viet Nam dong against the US dollar might cause inflation.

Curbing inflation and stabilising the macro-economy remain the top priorities of the Government, he stressed. — VNS

By vivian