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Hawaii university co-hosts seminar on global financial crunch
The US University of Hawaii, the Vietnam Chamber of Commerce and Industry, and Danang University have co-organized a seminar to analyse the global economic crisis, and its opportunities and challenges for Vietnamese enterprises.
Participants in the event, held in the central city of Danang on April 29, also discussed the strengths and weaknesses of the enterprise assistance programmes conducted by the Vietnamese government and those of other countries.
In as early as November 2008, the Vietnamese government proposed a US$6 billion stimulus package to accelerate economic growth through both monetary and fiscal policies. It has also introduced a 50 percent VAT reduction on 19 groups of commodities, and slashed corporate income taxes by 30 percent.
In addition, the Vietnamese government has postponed the imposition of personal income taxes for the first five months of 2009 and subsidized the implementation of a four-percent interest rate for banks.
The world financial crunch has seriously impacted Vietnamese enterprises by narrowing their markets, limiting their access to capital and causing instability in the business climate.
The seminar is expected to help enterprises better understand and access the government’s assistance and develop strategies to weather the current storm.
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