Hanoi prioritizes support for businesses: Mayor

Leaders of Hanoi stand ready to support the business community during this challenging period, said Chairman of the Hanoi People’s Committee Tran Sy Thanh at a dialogue between the city and businesses held today [December 14].

Overview of the event. Photos: The Hanoi Times

“Issues beyond the city’s jurisdiction would be submitted to the Prime Minister for a timely solution,” Thanh said.

According to Thanh, Hanoi has achieved strong socio-economic results in 2022, including a GRDP growth of 8.9%, a record high in the past few years.

“Hanoi’s successes in economic development and social welfare are thanks to the contribution of the business community,” Thanh said while expressing his appreciation for the support of local businesses for the city during the Covid-19 pandemic.

The mayor noted the remaining months of 2022 and the first quarter of 2023 are predicted to be a challenging period for businesses, prompting the city to hold a dialogue to address their concerns.

Thanh requested local authorities to reply soon to business recommendations, saying these are the city’s priorities.

With the National Assembly set to hold a discussion session on the socio-economic situation in the first quarter of 2023, Thanh expected issues raised by the local companies today would later be heard by deputies so that they would find solutions to clear all bottlenecks for growth.

Thanh said the city would focus on administrative reform and streamlining inter-agency working mechanisms to speed up the decision-making process for the benefit of the people and businesses.

In line with this effort, Thanh reported that Hanoi would push for decentralization of powers in the state apparatus, seen as an effort by the city to address citizens' frustration in complying with administrative procedures.

General Secretary of the Hanoi Association of Small and Medium Enterprises (Hanoisme) Mac Quoc Anh.

Lacking capital, land resources

At the dialogue, General Secretary of the Hanoi Association of Small and Medium Enterprises (Hanoisme) Mac Quoc Anh said most businesses are struggling, especially in access to credit loans.

He noted that complicated procedures and strict requirements had hindered companies' access to government aid packages.

Anh called for the city to continue waiving and cutting taxes and land rental fees for businesses in 2023, along with accelerating the tax refund process for eligible companies.

Sharing Anh’s view, Chairman of the Hanoi Association of Main Industrial Products (HAMI) Le Vinh Son said that enterprises, especially small and medium-sized ones, cannot get preferential loans from banks as they lack mortgages.

Son suggested that the government's recent decision to expand the credit margin for the banking sector is still insufficient for business demand and called for more long-term support from the government in tax reduction, interest rate cuts, and incentive policies for companies engaged in digital transformation.

Regarding businesses, Vice Director of Hanoi’s Department of Science and Technology Nguyen Quoc Ha said the agency would continue to propose more policies to encourage businesses to participate in new business models and innovation.

Acting Director of the Hanoi’s Department of Industry and Trade Tran Thi Phuong Lan.

Acting Director of the Hanoi’s Department of Industry and Trade Tran Thi Phuong Lan expected local firms to better take advantage of existing free trade agreements that Vietnam is a part of, including the EVFTA and UKVFTA, to increase exports to major markets.

“During this process, Hanoi would help companies enhance their competitiveness through supporting policies, providing training courses for better FTA understanding, technology application, and market information,” Lan said.

Lan added in the coming time, Hanoi would promote agricultural restructuring, digitalization, and IT application for higher production quality and optimization of business models.

Director of municipal Planning and Investment Le Anh Quan said foreign economic affairs would be a priority for Hanoi in 2023 for sustainable development.

“In this process, businesses would have the opportunity to grasp opportunities from upcoming investment waves and global trading activities,” Quan said.