From 2019 to now, it has been a difficult year for the global economy as the Covid pandemic has claimed many lives, let many people losed their jobs, and bankrupted thousands of businesses.

According to the report “Competitive outlook of small and medium-sized enterprises in 2020” published by the Geneva International Trade Center (Switzerland), more than 55% of businesses are affected by the pandemic, of which about 40% of large enterprises and 2/3 of small and medium enterprises said that the epidemic had seriously affected their business activities; About 1/5 of small businesses are at risk of bankruptcy within 3 months. In Vietnam, in August 2021, Vietnam Express conducted a survey on 21,517 businesses, Vietnam Express has conducted a survey on 21,517 businesses, and up to 69% (equivalent to 14,890 enterprises) said that they had to suspend production and business due to the epidemic, and most of them are small and micro enterprises, there are 16% of enterprise still try to maintain a part of production, and business, the rest have been dissolved.

In this situation, in order to survive and overcome the difficult period that according to experts it will continue last 3-5 years, businesses need to come up with a new direction. Due to the changing needs of the market, the demand for shopping decreases, cutting spending, controlling prices and making products that match consumer tastes is something that businesses need to think about.

A good news for businesses that have, are and will intend to invest in Vietnam, as well as customers who intend to shift supply to Vietnam. At the Tax – Customs Forum 2022, taking place on October 19 of Vietnam, Dr. Can Van Luc, Member of the National Financial – Monetary Policy Advisory Council proposed to the Government to continue tax relief for businesses, to share and support businesses to overcome this difficult period.

Accordingly, Dr. Can Van Luc said that continuing to reduce taxes and fees and support businesses should be calculated right now. He proposed to continue to have a support package to delay and reduce taxes and fees for businesses; at the same time, well coordinate policies to stabilize prices, creating room for businesses to grow.

Meanwhile, Mr. Tran Thanh Quyet – Managing Director of the Italian Chamber of Commerce in Vietnam – said that businesses are very interested in tax support policies. He said, the recent 2% VAT reduction is very good for businesses.

 

Mentech Vietnam

was established on December 25, 2019, at the beginning of the Covid-19 outbreak, this is a difficult time for all beginnings, but after 3 years of development, 3 years of standing side by side with Vietnamese businesses to overcome Covid, Mentech understands the value of solidarity. We can give our customers what you are looking for. In terms of geographical location, Mentech is located in the North of Vietnam, 1.5 hours from Hai Phong port, 30 minutes by car from Noi Bai airport, 40 minutes into Hanoi City and located near the main traffic axis. In terms of technology, we have fully automatic production lines, which can ensure the consistency of product quality, and we have an experienced technical and R&D team. These are our advantages, and also yours when moving supply to Vietnam.

If you are looking for a direction for your business if you want to find a potential supplier in Vietnam and Southeast Asia. We are always here to welcome you.