HCMC — HCMC plans to reduce business approval paperwork and related costs by 30% to support economic growth and improve the business environment.
The People’s Committee of HCMC said local agencies must cut at least 30% of the time required for administrative procedures, eliminate unnecessary regulations by 30%, and lower business-related costs by the same margin, particularly in public investment.
Department heads, district chairpersons, and officials from Thu Duc City are tasked with making administrative procedures transparent and accessible. They are also expected to streamline processes following Decision 1085/QD-TTg.
The HCMC People’s Committee will oversee the reform efforts, monitor the implementation, and address public feedback. Additionally, the Finance Department has been assigned to propose solutions to improve the investment climate and suggest fee reductions for businesses and individuals. These proposals will be submitted to the municipal People’s Council for approval.
The initiative aligns with Prime Minister Pham Minh Chinh’s recent Directive No. 10, which focuses on promoting the growth of small and medium-sized enterprises (SMEs). Key goals include reducing administrative barriers, ensuring fair competition, and shifting from pre-approval processes to post-implementation monitoring to enhance oversight.
HCMC, which is home to over 500,000 businesses, saw a sharp decline in new enterprises in early 2025. Only 3,900 new businesses registered in the first two months, with total capital of VND29.6 trillion, down 37.6% in number and 47.9% in capital compared to a year earlier.
The city aims to enter the top 15 provinces in Vietnam’s Public Administration Reform Index (PAR Index) and improve its Provincial Competitiveness Index (PCI) by 2025, with the reforms expected to enhance the business environment and attract investment.
