In 2019, Hanoi continues to put strong effort in administrative reform, in which the satisfaction of enterprises and citizens would be identified as the gauge in the operation of Hanoi's government system, according to Nguyen Duc Chung, chairman of the municipal People’s Committee.
A corner of Hanoi. Photo: Zing.
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As of present, 100% applications for business registration have been processed online, while the processing time for administrative procedures have been reduced to within three working days, and in some cases two days.
Starting August 2018, Hanoi has waived the cost of setting up new businesses and provided training courses for individual households on start-up and corporate governance.
Additionally, Hanoi’s authority has given priority to supporting enterprises in operation, especially in the field of industry, finance, market expansion and participating in new business models.
The city continues to improve the business environment towards a transparent, cooperative, and modern one, becoming a safe and successful investment destination for investors.
In 2017, the city’s provincial competitiveness index (PCI) ranked 13 out of 63 provinces and cities, but its labor productivity, competitiveness and public governance remained low, and they will be Hanoi’s priorities for improvement in 2019.
Part of the plan is to develop smart city and e-government model, in turn enabling enterprises to commit long-term business.
Nguyen Van Suu, vice chairman of the Hanoi People’s Committee, said the capital city’s gross regional domestic product (GRDP) in 2018 is set to grow by 7.37%, up from the 7.3% growth recorded in 2017, to reach VND904.5 trillion (US$39.13 billion).
This would result in GRDP per capita of US$4,910, nearly double the country’s figure of US$2,540, Suu said at a recent meeting discussing Hanoi’s socio-economic performance in the 2016 – 2018 period, and plan for 2019.
Among 59 cities and provinces having received foreign investment, Hanoi attracted the largest portion of registered capital with US$6.3 billion in the first 11 months of 2018, or 20.4% of total investment, accumulating a total of US$13.25 billion in the 2016 – 2018 period, up 2.12 times compared to the 2011 – 2015 period and 48.6% of the 1986 – 2015 period, Suu said.
