In a bid to try and create stability and encourage growth amongst the country's businesses, the Vietnamese government has unveiled plans to introduce a specially formulated economic stimulus package.
The measure, which was unveiled by Vietnam's Prime Minister, Nguyen Tan Dung, on January 15, will inject around VND17 trillion (USD1bn) into the country's small and medium-sized enterprises (SMEs) over the next 12 months.
The government has revealed that under the package, it will assist with the repayment of commercial loans held by SMEs in a bid to free up capital and allow companies to continue expanding.
The package will also focus on reducing tax burdens for businesses by allowing them to defer tax payments and cutting or reducing taxes where possible.
Certain tax exemptions for businesses are also being considered.
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