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Friday,  Nov 24,2017,03:29 (GMT+7)

HCMC to remove unnecessary procedures to facilitate business

Van Nam
Thursday,  Sep 7,2017,00:21 (GMT+7)
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HCMC to remove unnecessary procedures to facilitate business

Van Nam

Products are displayed by a startup at the Startup Day 2017 event late last month. HCMC will eliminate unnecessary administrative procedures to help businesses save time and cost - PHOTO: THANH HOA

HCMC – Chairman of HCMC Nguyen Thanh Phong has told the Departments of Planning-Investment and Finance to do away with unnecessary administrative procedures to help businesses save time and cost.

Speaking at a meeting on September 5 on the city’s socio-economic performance in the first eight months of 2017, he said the city encourages household businesses to register as companies to help boost economic growth.

According to Phong, the city currently has 360,000 operational enterprises but only 160,000 of them pay taxes. Household businesses should transform themselves into enterprises and expand production, he noted.

To support the business community, the Departments of Planning-Investment and Finance will review procedures and eliminate those inappropriate, simplify inspection and certificate issuance procedures, and cut informal business costs.

Data of the HCMC People’s Committee shows that in January-August, domestic investors registered total capital of VND542.3 trillion (US$23.85 billion), a 70% rise against the same period last year. There were about 26,600 enterprises newly established and 38,700 others changing business operations and expanding production.

Districts 1, Tan Binh, Go Vap, Binh Thanh and Binh Tan attracted the largest number of startups.

This year the city has assisted 1,170 household businesses in their conversion into enterprises, mostly in districts Thu Duc, Binh Thanh, Binh Chanh, 5 and 10.

This year the city aims for gross domestic product (GDP) growth of 8.4-8.7% and 50,000 new enterprises, including those converted into companies from household businesses. The goal for 2020 is 500,000 companies citywide.

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Giấy phép Báo điện tử số: 321/GP-BTTT, cấp ngày 26/10/2007
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