13:00 | 14/05/2020 Economy- Society
(VEN) - The Covid-19 pandemic has resulted in countrywide supply chain disruptions, seriously affecting trade, production and exports. To support business and recover production, Hanoi has deployed several groups of solutions.
Groups of solutions
Hanoi has promoted the development of agricultural production and strengthened manufacturing of products for pandemic prevention and control. In addition, the capital city has also boosted e-commerce, online payments, and online education.
Hanoi has deployed five groups of solutions to overcome difficulties facing business in order to ensure social security in response to Covid-19. These include promoting administrative procedure reforms, applying information technology, and expanding online public services; providing financial support for newly established enterprises; implementing the bank-business connection program (outstanding loans have to date reached VND546 trillion); and deploying support packages for firms affected by the pandemic by facilitating access to capital, delaying loan repayments, lowering interest rates and fees.
The capital city has also implemented a project on supporting innovative startups until 2025. Accordingly, newly established enterprises are offered support of up to VND420,000 each for payment of fees for first-time information disclosure, stamp duties and fast delivery of results. In addition, Hanoi spends about VND20 billion per year on human resource training for small- and medium-sized enterprises.
According to the Hanoi People’s Committee, Hanoi’s gross regional domestic product (GRDP) increased by 3.72 percent in the first quarter of 2020, lower than the 6.95 percent in the same period last year. Due to the Covid-19 impact in the reviewed period, Hanoi’s index of industrial production increased by 4.44 percent, lower than the 6.9 percent in the same period last year. In addition, the capital city saw a drop of 18.1 percent in export turnover.
The Hanoi People’s Committee issued Plan 83/KH-UBND on the implementation of Governmental Resolution 02/NQ-CP dated January 1, 2020 regarding measures to improve the business environment and national competitiveness in 2020. Accordingly, Hanoi strives to complete and exceed the targets achieved in 2019, and to retain its top 10 place on the Provincial Competitiveness Index (PCI).
In addition, Hanoi aims to maintain the rate of 100 percent in online business registration and over 98 percent in declaring and paying taxes online, and ensure all tax refund claims are processed on time. Hanoi also targets online delivery of all administrative procedures, with at least 30 percent to be processed at level 3 and level 4. Moreover, all schools, hospitals, electricity and water providers, among others should cooperate with banks and intermediary payment providers in billing online.
To realize these objectives, the Hanoi People’s Committee has requested all agencies to continue improving criteria with higher scores in the PCI and address shortcomings. In addition, departments, agencies, districts and wards continue to operate in a transparent manner, with 100 percent of decisions, policies and administrative procedures being published on their respective websites and portals.
Hanoi will continue to work closely with agencies and units under the Ministry of Industry and Trade to effectively deal with the impact of the pandemic, with special attention to seeking alternative raw material supply sources and alternative markets to ensure import and export activities.
During a recent dialogue with business representatives in Hanoi, Municipal Party Committee Secretary Vuong Dinh Hue said the city is willing to listen to feedback in order to ease bottlenecks stemming from policies, site clearance and planning adjustments, given that public and private investment is a lifeline for the capital’s economy.
|Minister of Industry and Trade Tran Tuan Anh said Hanoi needs a thorough evaluation of its growth indicators in the first three months of the year, especially of the Covid-19 impact, in order to seek appropriate solutions to restructure sectors seriously affected by the pandemic.|