Hanoi commits to strong support for business recovery

Hanoi held a conference with domestic businesses on November 6

Addressing the dialogue, Dinh Tien Dung, Secretary of Hanoi Party Committee, said that the city has been able to control the pandemic so far and is establishing a safe and flexible status to respond to any new infections, thereby bringing the city to the new normal.

Secretary Dung emphasised, “By placing businesses and people at the centre, the city has been focusing on boosting administrative reform, improving the business climate, and solving policy problems to promote the sustainable development of enterprises.”

At the dialogue, several representatives of domestic groups raised their opinions, with reform and legal barriers among their top concerns.

Quoc Anh, vice chairman of the Association of Small- and Medium-Sized Enterprises, said that many businesses were hard hit by the pandemic.

“Many policies have not been performed effectively, causing further difficulties for businesses to approach and benefit from,” Quoc Anh said, urging the city to continue dialogues to help businesses solve their problems and improve the business climate, while fast-tracking disbursement of public investment and intensifying trade and investment promotion activities.

Similarly, Chu Duc Luong, chairman of Phu My Group, asked the city to digitalise administrative procedures to save time and costs for businesses.

Hanoi authorities are committed to solving the current dilemma and recreating a more favourable environment for businesses.

In October, Hanoi also held a similar dialogue with foreign businesses and investors.

Despite the serious impact of COVID-19, the city gained GRDP growth of 1.28 per cent in the first nine months of 2021. From October, some production and business activities resumed. However, their performance remained lower than planned.

Hanoi's retail sales and service revenues in October rose 5.09 per cent on-year. Meanwhile, its export turnover last month increased 18.9 per cent on-year.

Nearly 20,000 companies were newly established between January and October, with the total registered capital of nearly $12 billion, while foreign investment attraction reached $1.21 billion.

Along with measures to prevent and control the pandemic, the city has issued several programmes to support businesses and locals in line with the government’s policies.

In particular, the city supported 1.82 million employees and employers with funds of over $43 million. The city also exempted and reduced taxes and extended payment schedules worth over $980 million, benefiting 38,000 businesses.

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