Over one quarter of Can Tho firms incur losses

19-Jan-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

Of the 7,800 enterprises operating in the Mekong Delta city of Can Tho, over one quarter suffered heavy losses in 2018, proving their performance was ineffective, Thanh Nien newspaper reported, citing Can Tho Chair Vo Thanh Thong.

Speaking at a recent workshop between the Can Tho government and Can Tho-based firms to remove bottlenecks and obstacles faced by enterprises, Thong noted that the city saw the establishment of 1,390 new firms, with combined capital of more than VND7.1 trillion, which highlights the city’s potential.

However, of the 11,000 firms registering their business, only some 7,850 are operational. And, a report from the Can Tho Tax Department indicated that 2,234 firms of the total operational ones had incurred losses, Thong remarked.

A series of difficulties facing firms operating in the city were raised at the workshop, including policies on loans and labour, as well as land and customs procedures.

A representative of a fruit export and processing firm voiced concern over the difficulty in gathering large volumes of fruit in Can Tho City despite the high-quality fruits being produced in Phong Dien District of the city.

Beside this, a representative of Meko Food Processing Factory specialising in producing salted duck eggs for outbound shipments stated that discarded eggshells were classified as industrial waste, but treating such waste has proved difficult.

The factory had hired a firm from Binh Duong Province to collect the waste at a cost of VND2,500-VND3,000 per kilogram as Can Tho City had no firms to treat it. When entering its peak business season of the Mid-Autumn Festival, the factory’s production activities were affected by the significant volume of untreated waste.

Speaking of the environment and tourism, Vo Xuan Thu, general director of Victoria Can Tho Resort, remarked that the water-based tourism sector was a driving force of the city’s economy, but the pollution caused by plastic bags and wastewater was threatening river tourism development.

Thu proposed the municipal government take preventive action to protect the environment and utilise the endowed water resources of Can Tho City.

The chair of Can Tho City Thong assigned the government of Ninh Kieu District and the Department of Culture, Sports and Tourism to map out a plan for collecting garbage in rivers. In addition, Thong asked the Can Tho Investment-Trade Promotion centre and the Department of Planning and Investment to sum up difficulties faced by firms and report them to the municipal government so that it can assign the relevant agencies and departments to handle the issues.

https://english.thesaigontimes.vn/65653/over-one-quarter-of-can-tho-firms-incur-losses.html

 


Category: Business, Vietnam

Print This Post