Hanoi: Determined to remove barriers, create a boost for the private economy

On the afternoon of June 20, the Hanoi People's Committee held a scientific workshop "Unlocking resources - Breakthrough in the development of the capital's private economy". Many experts and businesses pointed out barriers and recommended that the city change its mindset and create a favorable business environment.

Speaking at the opening of the workshop, Chairman of the City People's Committee Tran Sy Thanh emphasized that our country is facing an important opportunity to enter a new era of development - an era of aspirations, innovation, comprehensive integration, and determination to realize the goal of becoming a high-income developed country by 2045. This is a strong political and social commitment of the entire political system.

The conference was held from the City People's Committee headquarters and online to the headquarters of districts/towns/cities of the city. (Photo: VGP)

There are more than 155 thousand enterprises operating in the city (ranking second nationwide in terms of the number of enterprises), of which 97.2% are private enterprises. The growth rate and proportion of total social investment capital of the private economic sector have increased sharply over the years (an average increase of 7.3% and a proportion of 57.8%); contributing over 45% of the city's GRDP, creating nearly 80% of new jobs each year.

Mr. Tran Sy Thanh said that although the private economic sector has made quite good progress, there are still many limitations such as private enterprises are large in number but mainly small and micro-sized; technology and management levels are still limited; the ability to connect and cooperate in business is limited, and competitiveness and the ability to participate in regional and global value chains are still weak.

Chairman of the Hanoi People's Committee Tran Sy Thanh cited the direction of General Secretary To Lam that Hanoi needs to create a science and technology ecosystem and promote the private economy. He emphasized: "Hanoi City determines that developing the private economy is not only a simple economic development task, but also a political requirement."

At the workshop, experts and businesses made many specific recommendations.

Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management, suggested that the city should drastically improve the business environment. He emphasized: “The focus of administrative procedure reform is to remove all barriers for businesses and people to innovate and freely do business in everything that is not prohibited by law.”

Dr. Nguyen Dinh Cung also recommended that the City People's Committee have a standing unit to receive feedback from businesses about administrative barriers.

From a business perspective, Mr. Nguyen Trung Chinh, Chairman of the Board of Directors of CMC Technology Corporation, said that Hanoi needs to consider digital transformation as a focus. He proposed that Hanoi should build an “AI development strategy” and integrate it into the capital’s socio-economic development strategy.

Meanwhile, Mr. Dau Anh Tuan, Deputy General Secretary and Head of the Legal Department of the Vietnam Federation of Commerce and Industry (VCCI), suggested that Hanoi should publicize information on unused land funds. He also suggested that the city consider establishing a Private Economic Development Fund.

Chairman of Hanoi People's Committee Tran Sy Thanh delivered a speech at the workshop. (Photo: VGP)

Concluding the workshop, Chairman of Hanoi People's Committee Tran Sy Thanh said that in order to create a breakthrough in private economic development, first of all, heads of agencies and units need to change their thinking about the important position and role of the private economy in the overall national economy and of the capital.

From there, each relevant agency and unit focuses on removing difficulties and obstacles, creating all favorable conditions for the capital's private enterprises to develop, especially in accessing land and administrative procedures.

Mr. Tran Sy Thanh also emphasized that in the context of the whole country implementing a revolution to streamline the organizational apparatus and implement a 2-level local government model, Hanoi city is promoting decentralization and delegation of authority to localities.

Along with that, the city continues to build and promulgate mechanisms and policies to create the most favorable conditions for business development, especially businesses in the fields of science, technology and innovation.

Source: https://thoidai.com.vn/ha-noi-quyet-tam-xoa-bo-rao-can-tao-cu-hich-cho-kinh-te-tu-nhan-214354.html