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Apr 25, 2020 / 19:41

Hanoi sets sight to remain among Vietnam’s top 10 business-friendly localities

Hanoi considers the favorable business environment a major contributor to a speedy economic recovery in the post-pandemic period.

Hanoi is determined to ensure its place among the 10 top business-friendly localities in Vietnam this year, after the city broke into the top 10 of Vietnam’s provincial competitiveness index (PCI) ranking for the first time two years ago.

 Illustrative photo. Source: VGP. 

The move is part of a series of measures set by the Hanoi People’s Committee in its Plan No.83 released on April 22, targeting a boost to its national competitiveness and business environment.

According to the plan, Hanoi considers a favorable business environment a major contributor to a speedy economic recovery in the post-pandemic period, while setting up a platform to absorb new inflows of investment capital shifted from China, or investors looking to take advantage of the upcoming EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA).

The municipal People’s Committee expected the local authorities to continue operating in a transparent manner, with 100% of decisions, policies and administrative procedures being updated on their respective websites and portals.

Additionally, Hanoi would strive to maintain the rate of online business registration at 100%; over 98% of enterprises declaring and paying taxes online; and 100% of tax refund claims to be processed on time.

Hanoi also targets 100% of administrative procedures in the city to be provided online at advanced stages of 3 and 4, of which at least 30% of the procedures to be processed at stage 3 and 4.

Moreover, all schools, hospitals, electricity and water providers, among others should cooperate with banks and intermediary payment providers for billing online.

At a time of unprecedented crisis, the Hanoi People’s Committee requests public servants to raise their responsibilities for timely supporting enterprises with the motto “Building a government for the people  – Taking the interests of the people and enterprises at the center of its service.”

Meanwhile, there would be strict punishments for officials who fail to adhere to newly simplified business regulations and disturb enterprises’ operations.