HCM City seeks to speed up economic recovery with business boost

HCM City authorities have pledged to improve the business environment and remove difficulties businesses face this year to help revive the economy. — Photo courtesy nld.vn

HCM CITY — HCM City authorities have pledged to improve the business environment and remove difficulties businesses face this year to help revive the economy.

Phạm Thị Thanh Hiền, chairwoman of the Củ Chi People’s Committee, said in 2022 her district would work to enhance co-operation between enterprises to leverage their combined advantages, create favourable conditions for them to recover and create an efficient environment for new businesses. 

It would also focus on improving the investment environment and administrative reform to simplify processes and shorten the time needed for completing administrative procedures, she promised.

Vice chairwoman of the District 11 People’s Committee, Trần Thị Bích Trâm, said in her district officials visit enterprises to understand their situation and promptly address any difficulties they face.

It also brings together banks and enterprises for financial support for the latter, and dialogues between tax officials and industry.

To improve its investment environment, the district is promoting reform, especially related to land, investment, construction, tax, and labour, thereby ensuring healthy competition and a safe, open, transparent, and convenient business environment.

“The district’s motto is to place people and businesses at the centre, and so we have built inter-connected systems to reduce the time taken to process documents and publicise the process and the identities of officials handling documents, and [pemalise] officials who cause difficulties for enterprises,” Trâm said.

Bùi Tá Hoàng Vũ, director of the city Department of Industry and Trade, said his department would co-ordinate with industry trade groups and district people’s committees to organise networking conferences and seminars based on the needs of enterprises, and offer loan interest rate subsidies under the city’s investment stimulus programme.

Online and offline trade promotions, concentrated promotion programmes and conferences that seek to link up goods producers/suppliers and distributors in HCM City and other cities and provinces would be held, he said.

An official from the State Bank of Vietnam’s HCM City branch said his branch would efficiently implement monetary, credit and banking mechanisms and policies to stabilise interest and exchange rates and credit programmes to support businesses.

It would also speed up efforts to remove difficulties for enterprises and continue to encourage credit institutions to further cut interest rates on loans given to enterprises, he added. — VnExpress News