Tuesday, 21 Nov 2017

Efficient stimulation for investment

Updated at Saturday, 02 Sep 2017, 16:30
The Hanoitimes - Hanoi People’s Committee Nguyen Duc Chung said, Hanoi is determined to become pioneer in improving investment environment and supporting enterprises development; sustainable economic development; international integration and modern technology application.
The leader of Hanoi said the city has been in actively implementing instructions of the government in creating investment environment toward transparency and clarity, with a view to be suitable with international integration and the current conditions of Hanoi. The city is putting priority in supporting enterprises; creating the utmost favorable conditions for enterprises, start-ups, investors, to do their businesses in Hanoi for long term.

One of the positive transformation of Hanoi is that, the city has created favorable investment environment for enterprises and investors in accordance with the Resolution NO.19/NQ-CP and No.35/NQ-CP of the government. The Province competitive index in 2016 of Hanoi has increased 10 places in compared with 2015, at the 14th rank in out of 63 provinces/cities. The administrative reform index increased 6 places, up to 3rd rank out of 63 provinces/cities. Hanoi ranked second on the readiness of technology application.

Moreover, the city also increase support for investors and enterprises from the business registration to carry out the project, dealing with enterprises’ difficulties during their operation. At the same time, Hanoi also held many events connecting supply and demand, increasing linkage between provinces.; supporting enterprises in investment promotion programs to introduce local products to domestic and international trade fairs.; supporting enterprises in joining global production chain. As a result, in 2016, enterprises operating in Hanoi has increased efficiency in operation: 67% has profit; 47% Foreign direct investment (FDI) enterprises have committed to increase production capacity. 

According to the statistics from related agencies, in the past 8 months, the city has received 114 projects outside state budget, with registered capital of more than 70 trillion VND; 22 Private – Public Partnership project (PPP) with total investment of 60 trillion VND; attracting 1.74 billion USD from the FDI. In overall, for 8 months, Hanoi has attracted 317 FDI projects. As such, 3 FDI large scale projects registered in Hanoi: Aeon Mall Ha Dong with registered capital of 192.5 million USD; Coca-Cola Vietnam increasing their registered capital of 319.8 million USD; and Park city project of 72 million USD.

On the other hand, Hanoi has nearly 17,000 newly established enterprises ( up 14%), with total registered capital of 130 trillion VND (up 4%); 177 enterprises dissolved and 2,500 enterprises back to operation. In overall, the city has 224,000 enterprises.  

​Hanoi Department of Planning & Investment estimated, in the remaining months of the year, the number of newly established enterprises will increase when districts and wards consistently implement solutions supporting enterprises. In order to achieve objectives of 2017, Hanoi People’s Committee has proposed to related agencies in removing difficulties for enterprises, creating utmost favorable conditions for production, business and investment development, of which the focus in to review and finalize administrative procedure reform in fields of custom and tax, at the same time, finalizing the start-up ecosystem and supporting creative start-up. Besides, Hanoi will push forward with programs of connecting supply-demand, banking – enterprises, investment stimulation to support enterprises development in the future 
Nguyen Tung - Thuan Hung
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