The business community and entrepreneurs in the province are currently facing many difficulties, especially after storm No. 3. Quang Ninh province has been implementing many urgent solutions to overcome difficulties, gradually restoring production and rebuilding the economy.

Along with issuing policies to support people, the province has established a working group to develop a project to restore and rebuild the economy after storm No. 3, headed by the Chairman of the Provincial People's Committee, and strives to complete the project in 2024. The province also established a working group to develop policies to support and overcome the consequences of storm No. 3 in the province; organized meetings to work directly with businesses, production and business establishments, and banks to discuss debt settlement solutions for businesses and people, solutions to consume fallen timber from planted forests, solutions to support people in agricultural, forestry, and marine production, to remove difficulties and obstacles for businesses and cruise ship owners, etc., and solutions to develop the economy, ensuring the set growth target.

In particular, the Provincial People's Committee issued Document No. 2762/UBND-KTTC (dated September 21, 2024) reporting proposals and recommendations to the Prime Minister for consideration and direction to ministries, branches,   unit   related to early research and consultation on the issuance of a number of separate, strong enough mechanisms and policies to support industries and sectors that are being heavily affected, in addition to the contents of Resolution No. 143/NQ-CP (dated September 17, 2024) of the Government on supporting agricultural and forestry production. In particular, debt relief for customers borrowing capital from credit institutions, mechanisms on unsecured loans, loans without collateral, support for businesses and business households in part of the cost of salvaging and repairing damage to sunken or wrecked watercraft, etc. Quang Ninh province is committed to implementing support programs for businesses to recover after natural disasters according to the central government's instructions at the maximum level.

Implementing the direction of the central and provincial governments, banks in the province have actively implemented many support programs, such as: Preferential loan interest rates from only 5.5% for new loans; free early repayment; reduction of 0.5-2% interest rate/year for existing loans... helping businesses stabilize finances, reinvest and rebuild production activities. As of September 30, outstanding credit capital in the province reached VND 192,000 billion, an increase of 8.4% compared to December 31, 2023. Of which, outstanding loans to the state economic sector reached VND 22,815 billion, accounting for 12%; outstanding loans to the non-state economic sector reached VND 167,313 billion, accounting for 76.8% of total outstanding loans, an increase of 7.4% compared to December 31, 2023; Outstanding loans for living and consumption reached VND 43,589 billion, up 1.9% compared to December 31, 2023.

Ms. Vu Nhat Dung, Director of Agritech Joint Stock Company (Ha Long City) shared: As a business operating in the agricultural sector, the unit was severely affected after the storm. The entire greenhouse, seedling area, laboratory... were damaged. The unit was promptly adjusted by Agribank to reduce the interest rate by 0.5% for the existing loan. At the same time, maximum support was provided for the unit to access an additional loan of 1-2 billion VND with preferential interest rates to promptly reproduce and ensure that there are orchids to serve the needs of the market this Tet.

Capital is identified as the lifeblood of businesses. However, after storm No. 3, the biggest difficulty for businesses in the province is the lack of capital to reinvest, rebuild facilities, and restore production.

Mr. Ngo Hung Dung, Director of Tan An Seafood Joint Stock Company (Quang Yen Town) said: Capital is identified as the lifeblood of the enterprise. During storm No. 3, my unit suffered a loss of about 70 billion VND. Although banks have adjusted interest rates for existing loans, the financial burden on the unit is still very large. Repairing and building facilities in the aquaculture area from ponds, net houses, electricity, roads, houses, etc. requires a large amount of money. Therefore, the unit hopes that the central government will soon develop a credit support policy mechanism for enterprises, prioritizing debt extension, deferral and forgiveness; quickly issue instructions, regulations, and directions to effectively implement Resolution 143/ND-CP (dated September 17, 2024) on key tasks and solutions to promptly overcome the consequences of storm No. 3, and promote the recovery of production and business.

Mr. Bui Huy Tung, Deputy Director of Nhat Long Joint Stock Company (Ha Long City) shared: Since storm No. 3, the unit has made efforts to repair the facilities of 10 out of 60 shrimp ponds. Taking advantage of the warm weather conditions, the unit has released shrimp fry wherever it has been repaired. However, due to lack of capital, human resources, etc., the amount of shrimp fry released has reached 30% of the plan. Currently, the unit has had banks adjust the existing loan interest rates; and is carrying out procedures to borrow over 1 billion VND in additional capital. The unit hopes that the central government and banks will soon consider removing the conditions for loans without collateral, and at the same time, increase the limit for this loan to help businesses have more capital for reinvestment, stabilize production, and recover after the storm.