Shopkeepers in HCM City’s traditional markets want tax cuts
To support small businesses affected by the COVID-19 pandemic, Ho Chi Minh City’s authorities have instructed traditional markets to reduce their rents by 50 percent for six months.
HCMCity (VNS/VNA) - To support small businesses affected by theCOVID-19 pandemic, Ho Chi Minh City’s authorities have instructed traditionalmarkets to reduce their rents by 50 percent for six months.
Thecuts took effect in February, and the city had assigned the Department ofIndustry and Trade to manage it together with the Department of Finance. The rents will be subsidised by public funds.
TranThi Hoa, who runs a stall at Nguyen Van Troi Market in District 3, said whileshe is thankful to the city government for its support for small traders, thecuts would not help much since rents at traditional markets are only 200,000 -300,000 VND (8.7-13 USD) a month, meaning the saving would be less than onemillion VND over six months.
Thebiggest problem for small traders is the steep fall in the number of shoppersvisiting traditional markets, she said.
Accordingto many shopkeepers, last year sales at traditional markets fell by 60-80 percentfrom previous years.
BenThanh Market in District 1, one of the city’s oldest markets, has just a fewdozen visitors during weekends compared to thousands during normal times.
Mostof its 3,000 stalls, which sell food, garments, footwear, and handcrafts, areclosed.
Shopsselling Vietnamese handicrafts and fried seafood, favoured by both foreign andlocal visitors, have been closed since March 2020.
“Theimpacts of the COVID-19 pandemic on my business began last February,” Tran NgocThu, who sells handicrafts at the Ben Thanh Market, said.
Asimilar situation has been reported at other wholesale markets in the city,including An Dong in District 5, Binh Tay in District 6 and Soai Kinh Lam in ChoLon (Big Market) in District 5.
Stallowners used to hire at least three salespeople, but have had to let many go sincethey cannot afford to pay them. Many of them have had to shut their shops dueto lack of business.
Taxesare one of the biggest concerns of small businesses, who pay 4-6 million VND amonth on average.
Sothey wanted the city to reduce or waive tax for six months, saying it would beof far greater help in reducing their financial burden and help them stayopen./.
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Illustrative image (Photo: Internet) 
