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Vietnam to help companies hit by anti-China riots

Published on May 22, 2014 1:27 PM
 
Firefighters rest near a damaged Chinese owned shoe factory in Vietnam's southern Binh Duong province on May 14, 2014. Vietnam has promised to provide financial help to businesses hit by anti-China riots which erupted last week over a territorial dispute between Hanoi and Beijing in the South China Sea. -- PHOTO: REUTERS 

HANOI (REUTERS ) - Vietnam has promised to provide financial help to businesses hit by anti-China riots which erupted last week over a territorial dispute between Hanoi and Beijing in the South China Sea.

The measures include tax relief, rent waivers and early lines of credit, the government said in a statement issued late on Wednesday.

The tax relief will include a maximum 30-per cent cut in special consumption tax this year and a two-year delay in payments for taxes that arose before May 2014, it said.

Prime Minister Nguyen Tan Dung had asked the finance ministry to press insurers to speed up damage assessments and payouts to affected enterprises.

 
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