New policies to help HCMC businesses thrive

Nguyen Thanh Phong spoke at a conference in HCM City on June 29. He said the city will create favourable conditions and develop a sound investment environment by amending or creating policies to help businesses overcome challenges and take advantage of new opportunities.

At the conference which discussed local companies’ competitiveness, Phong said startup activity and improvement of competitiveness will be strongly supported by the city.

“Enterprises and investors have made huge contributions to the country’s development and modernisation. In HCM City, we don’t just consider businesses something to manage. They need support and conditions to develop. Their growth corresponds to the city’s development,” Phong said.

He said ideas from enterprises and investors are welcome, as “this will help the city and its departments solve social and economic issues.”

At the conference, companies in different sectors spoke about ways to help the business community.

Vu Duc Giang, Chairman of the Vietnam Garment and Textile Association, said the city lacks skilled textile and dye workers, creating challenges for the industry.

The shortage of raw material suppliers in the city is another obstacle.

Giang proposed that the city create a stable regulatory system to help businesses develop.

Vu Kim Hanh, Chairwoman of the Association of High-Quality Vietnamese Goods, suggested the city enhance companies’ knowledge about international integration. "They should help companies adapt to market change," she said.

To create strong national brands, connections must be developed among managers, big companies, banks and small- and medium-sized enterprises, Hanh said.

In recent years, HCM City has worked to create a more favourable investment environment.

At present, 180,000 are operating, accounting for 31.7% of the total number of companies in the country.