Hanoi sets up business support and investment promotion center

THE HANOI TIMES — The Hanoi People's Committee issued Decision No. 1763/QD-UBND on March 27 to reorganize and rename the Hanoi Business Support Center as the Hanoi Investment Promotion and Business Support Center under the Hanoi Department of Finance.

According to the decision, the center will be renamed and placed under the Department of Finance, with headquarters at Van Ho Inter-Agency Complex, 52 Le Dai Hanh Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi.

The director of the Hanoi Investment Promotion and Business Support Center is responsible for leading the agency to ensure it complies with regulations and defines the center's functions and tasks. In addition, the director shall direct the center to prepare a staffing plan and an autonomy proposal for approval.

The center's director is responsible for stabilizing the organizational structure, allocating budget resources and managing assets such as offices and land.

Also on March 27, the Hanoi People's Committee issued Decision No. 1767/QD-UBND, which defines the position, functions, tasks, powers, and organizational structure of the Hanoi Investment Promotion and Business Support Center under the Department of Finance.

According to the decision, the Hanoi Investment Promotion and Business Support Center is a self-financing public service unit under the Department of Finance. Its functions include advising and assisting the Director of the Department of Finance in developing and implementing projects, programs, and plans to support business development, especially for small and medium-sized enterprises.

The center also provides support for business start-ups and innovation initiatives, implements business support activities as required by the Law on Support for Small and Medium Enterprises and related regulations, promotes investment, and builds a business database for Hanoi.

The center is responsible for 16 key functions, including research and development of annual and long-term projects and programs for business development, especially for small and medium-sized enterprises. It serves as a focal point for the implementation of support programs and projects from the central government, the city, and domestic and international organizations.

The agency also connects and provides free advice to businesses, organizations, and individuals on administrative procedures for business registration and investment, and encourages household enterprises to register as businesses. In addition, it works with local and international organizations and individuals to research and share best practices, develop support programs and projects, and attract resources to promote private sector economic growth.

Source: Decision No. 1763/QD-UBND of the Hanoi People's Committee on March 27.