Lam Dong Province supports enterprises hit by pandemic

13:00 | 13/08/2021 Industry

(VEN) - The Central Highlands’ province of Lam Dong is providing funding to help rural industrial enterprises overcome the impact of Covid-19 on supply and demand.

lam dong province supports enterprises hit by pandemic

Complicated Covid-19 developments have greatly affected Lam Dong’s enterprises

The Lam Dong Province Industry Promotion and Industrial Development Consultation Center and other relevant agencies recently approved a VND3.5 billion investment by Ha Gia Phat Co. in the Phu Hoi Industrial Zone for machinery and equipment for processing refined wood. The newly invested equipment and machinery are running well, helping the enterprise improve productivity, product quality, and enhance competitiveness.

The project is one of 53 approved industrial promotion projects for 2021, with refundable funding prioritized and accounting for a major share of the annual funding with VND7 billion for 13 projects.

In order to help rural industrial enterprises affected by Covid-19, the provincial industry and trade sector has issued and implemented many support policies. Accordingly, Lam Dong industry promotion prioritizes funding to help enterprises build new production facilities and acquire new machinery and equipment to promote production and business. Prioritized projects also include those connecting trade exchange and market expansion. The sector has advised the provincial People's Committee to extend the payback period for businesses affected by the Covid 19 pandemic.

The complicated Covid-19 developments have greatly affected production and business activities of local enterprises. The Lam Dong Industry and Trade sector will continue to flexibly deploy industrial promotion activities suitable for local conditions in the province, stimulate industrial and handicraft production and continue to prioritize support for affected businesses.

Specifically, the industry and trade agencies will quickly disburse funding for projects that complete investment and provide sufficient payment documentation as prescribed. Regarding investment in imported machinery and equipment, the agencies will regularly keep in touch with beneficiaries to promptly ease their difficulties. They will also prepare for trade conferences to expand markets once the Covid 19 epidemic is under control; suspend a number of unnecessary projects and shift those disbursements to other refundable projects if the affected businesses fail to pay the refunds on time.

In 2021, Lam Dong is funded with VND9.72 billion to implement 53 industry promotion projects, including 13 refundable projects with total funding of VND7 billion and 40 non-refundable projects totaling VND2.72 billion.

Hai Linh