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PM wants obstacles to business and investment lifted

The Saigon Times

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HCMC – The prime minister has assigned departments and localities to remove hindrances to business and access to loans to boost consumption, export and investment.

The above contents were stated in the official dispatch of the prime minister dated April 10 on enhancing business, production, investment, construction and export-import.

The official dispatch was issued given global economic uncertainties and the problems faced by the local economy.

The prime minister’s requests for lifting the bottlenecks on bureaucracy, loan access, business conditions, indebtedness, taxes and fees, will support businesses, step up the implementation of key projects, develop products and create a driving force for economic growth including investment, export and consumption.

The chairmen of provincial people’s committees are tasked with reviewing and reporting business activities, construction, investment and import-export, especially those sectors with significant contributions to economic growth and key investment projects.

They need to report the detailed obstacles relating to the market, labor, credit, investment procedures, site clearance and proposed measures to address the issues with the Ministry of Planning and Investment by April 13.

Based on the reports from localities, the ministry will classify issues into categories and jurisdictions and send them to the prime minister.

According to the Ministry of Planning and Investment, gross domestic product (GDP) in the first quarter rose a mere 3.32%. Of which, the agro-forestry-fishery sector saw a rise of 2.52%, while services increased by 6.79%.

Meanwhile, a mere decline of 0.82% year-on-year in GDP of some key industries, such as textile and garments, shoes and leather and wooden products, was attributable to a drop in new orders.

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