Illustrative image (Photo: VNA) Specifically, according to Document No. 639/TTg-KTTH signed byDeputy Prime Minister Le Minh Khai on July 12, SBV has been requested tocoordinate with the Ministry of Agriculture and Rural Development (MARD), andrelevant ministries and organisations to consider adjusting lending rates,granting credit, restructuring debts, as well as preparing a credit package of 10trillion VND (423 million USD) to support enterprises in the forestry andaquatic industries.
The document was issued in reply to the Vietnam Associationof Seafood Exporters and Producers (VASEP)'s official dispatch which reportstheir challenges and propose solutions to remove the difficulties of thefishery industry.
Accordingly, seafood enterprises have beenfacing many difficulties, such as high production and transportation costs,depleted capital, high borrowing interest rates, and reduced orders, so theyhave struggled to maintain production and business activities, and neededsolutions to solve problems in a timely manner.
VASEP said loan interest rates are the biggest challenge forthe industry so the association hoped the Government, the Ministry of Financeand the central bank will solve this challenge.
VASEP recommended that banks cut the interest rate to below 4% forUS dollar loans and below 7% for VND loans tosupport export enterprises.
It also suggested that seafood enterprises be allowed to delaypayment of 4-6 months for the loans having maturity date in the third quarterof 2023. They also continue to take loans to stably purchase raw materials forprocessing goods exported until this year's end.
In addition, VASEP believed that it is necessary to have a creditpackage of 10 trillion VND to support the seafood businesses in purchasingfishery materials from farmers.
Also in Document No. 639/TTg-KTTH, Khai requested theMinistry of Finance to coordinate with relevant ministries and agencies tourgently implement value-added tax refund for businesses according to currentregulations.
At the same time, they must consider and respond to VASEP'srecommendations on prolonging policies on exemption and reduction of tax, landrent, fees and charges as well as extension of payment for those.
The central bank and the Vietnam Bank for Social Policies areasked to consider and respond to recommendations on continuinglending to the seafood enterprises from the social policy bank to pay wages forworkers having to quit jobs.
The Ministry of Planning and Investment coordinates with MARDand relevant ministries, agencies and localities to simplify investmentprocedures in setting up new seafood processing factories andinnovating technology to increase capacity.
According to VASEP, in the first six months of 2023, total aquaticproduct export turnover reached 4.13 billion USD, down 27.4% overthe same period in 2022, reaching 41.5% of the plan.
Of which, the total export turnover in June was estimated atnearly 800 million USD, down 21% over the same period in 2022. Key products sawa strong reduction in June as well as in the first half of this year.
Shrimp exports in June were estimated at 341 million USD, thehighest level since the beginning of the year. But it was still down 18% yearon year. In the first half of the year, shrimp exports reached nearly 1.6billion USD, 31% lower than in the first half of 2022.
Pangasius export in June was estimated at 156 million USD, anreduction of 26% on year. This figure in the first six months was estimated at 885million USD, 38% lower than the same period of last year.
Tuna export turnover reached 64 million USD in June, down 29% yearon year. This turnover was 380 million USD in the first half of the year, down31% compared to the corresponding period in 2022./.
VNA
