Post-pandemic business support should prioritize efficiency 2023

According to specialists, future business support policies during the recuperation period following the COVID-19 pandemic should focus on the right topics and provide the appropriate support to ensure maximum efficiency.

According to a report by the Prime Minister’s Advisory Council on Administrative Procedure Reform on the evaluation of the effectiveness of support policies for enterprises affected by the COVID-19 pandemic, among the 33 business support policies applied in 2020, those on taxes, fees, charges, employment, labor, and insurance benefit businesses the most.

The access rate to these policy groups was greater than fifty percent of the 355 businesses surveyed.

In the meantime, it was reported that the rate of access to policies in finance-credit, export promotion, and supply chain protection was less than 20%.

72 percent of enterprises profited from the programs, and 76,3% had access to them.

However, only 44 percent and 76,3 percent of enterprises benefited from them, correspondingly.

The report revealed a negative correlation between the rate at which businesses access and benefit from policies and the policies’ efficacy.

According to the Advisory Council, new business support policies should target businesses and individuals severely impacted by the pandemic from the phase of pandemic prevention and control through the “new normal” period, due to changes in the global demand for products, services, and investments.

The council added that the support programs in finance-credit, export promotion-supply chain protection are still essential for businesses affected by the pandemic. — VNS

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