VCCI, local administrations pledge favourable environment for businesses

In his address at the signing ceremony on August 28 in Ho Chi Minh City, Deputy Prime Minister Vuong Dinh Hue called on local administrations to establish hotlines and hold talks with businesses biannually to deal with businesses’ problems. 

He suggested provinces and cities should set up funds to provide loans to small and medium sized enterprises (SMEs).

Deputy PM Hue, who is also head of the Steering Committee for Business Innovation and Development, asked the municipal and provincial People’s Committees to work harder to lure more foreign direct investments in the context of international integration, and untangle “bottleneck” in markets, services, capital, science-technology and real estate.

VCCI Chairman Vu Tien Loc said the commitments demonstrate the localities’ long-term vision for business development while affirming the important role played by private firms in national industrialisation and modernisation, contributing to raising the national economy’s competitiveness.

Hanoi, Ho Chi Minh City, Da Nang city, Quang Binh and Quang Tri provinces in the central region, and the southern provinces of Dong Nai, Dong Thap and Kien Giang are the localities which has pledged to improve their business climate.

By 2020, Ho Chi Minh plans to register 500,000 enterprises followed by the southern province of Dong Nai with 32,000, and the central city of Danang 31,000.