Chairman of the Hanoi People’s Committee Nguyen The Thao pledged easier access to loans, removal of bureaucratic delays, and stimulation of tourism investment during a meeting with hundreds of business representatives in the capital on March 2.

Mr. Nguyen The Thao.

These commitments are among key tasks the city will undertake this year to improve its business climate and achieve an economic growth of 9-9.5 percent, above the 8.8 percent recorded in 2014.

Other duties include embracing technological advances in State organisations, improving the provincial competitiveness index, and ensuring a sufficient supply of electricity for production.

The city plans to set aside 60 billion VND (2.8 million USD) for trade promotion at home and abroad, especially in major markets like Thailand, Japan, the US, the Czech Republic, South Africa, and Myanmar.

The flow of affordable loans is set to pour into exports, agriculture, industry, high-tech, labour-intensive industries and small- and medium-sized enterprises. Meanwhile, a set of streamlined business policies and mechanisms are set to be implemented shortly.

To grow sustainably, businesses should take initiative in seeking partners and bettering the quality of their products and services, Thao advised.

Business associations were asked to play a stronger role in linking enterprises together and building quality trademarks while State management agencies work to ensure a fair and healthy business environment.

Participants requested additional incentives in procedures, land, and preferential loans from the city administration.

Last year, the municipal authorities held seven working sessions with firms and established seven teams to survey hundreds of local companies.

Hanoi extended the deadline of land-use payments worth nearly 14 trillion VND (667 million USD), adjusted 71 commercial residential housing projects, and disbursed around 2.4 trillion VND (114 million USD) for home purchase in 2014.

VNA