The Ministry of Planning and Investment (MPI) proposed plenty of solutions aiming to save airlines from bankruptcy. Airlines get stuck in adversity. In the latest draft Vietnamese business report for 2020 and 2021's first five months released on June 17, the MPI proposed the State Bank of Vietnam to submit the government plans for a 4 per cent supporting interest rate on bank loans taken up by airlines between 2021 and 2023. In addition, the ministry also recommended the Ministry of Transport (MoT) to revise Circular No.19/2020/TT-BGTVT to extend the 50 per cent discount on taking off and landing service fees and also applying the VND0 minimum price for national airline services at the end of 2021. The MoT was also recommended to submit a proposal to the government to amend Resolution No.1148/2020 to reduce the environmental tax to VND1,000 (4.35 US cents) from VND2,100 (9.13 US cents) per litre of kerosene. As airlines are unable to clear bank loans, the MPI also proposed the Ministry of Finance (MoF) to roll out other support measures. The MoF was recommended to propose decreasing value-added tax (VAT) by 50 per cent this year for businesses specialised in aviation, accommodations, and restaurant services… Read full this story
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