Secretary of the Hanoi Party Committee Dinh Tien Dung discussed with delegates attending the conference. Photo: kinhtedothi

According to the Hanoi People's Committee, in the first nine months of 2021, Hanoi has undergone two phases of pandemic prevention and control, of which the most stressful is the four periods of strict isolation, lasting 60 days, from the end of July until now. Production and business activities of enterprises were delayed, and foreign direct investment (FDI) enterprises were also affected by the suspension of production and business activities.

Chairman of the Hanoi People's Committee Chu Ngoc Anh discussed with delegates attending the conference. Photo: kinhtedothi

At this conference, the city gave information on the socio-economic development situation and the results of solving difficulties for businesses over the past time. At the same time, the city will provide information on solutions to overcome difficulties for businesses in the near future, especially when Hanoi is entering the "new normal" phase after the Covid-19 pandemic is under control.

The organization of the conference after the Covid-19 pandemic has been basically controlled is considered a strong message from Hanoi city in particular and the whole country in general to attract investment resources at home and abroad, especially foreign direct investment (FDI). At the same time, the conference helps affirm that Hanoi city is always interested in and accompanies businesses in removing difficulties and obstacles, especially after the negative impact of the Covid-19 pandemic, supporting businesses to stabilize production and business, recover and create momentum for development in the coming time.

Photo: kinhtedothi

Hanoi is always ready to welcome foreign investors

Speaking at the opening of the conference, Secretary of the Hanoi Party Committee Dinh Tien Dung said that over the years, Hanoi has identified the foreign-invested economic sector as an important component of Vietnam economy; an important driving force for the development of the capital. Therefore, the foreign-invested economic sector is encouraged, facilitated for long-term development, cooperation and healthy competition with other economic sectors.

The city always respects and protects the legitimate rights and interests of investors; ensure the harmonization of interests between the State, investors and employees working in the enterprise. With the desire to attract more investment resources into the capital, Hanoi has been focusing on removing many difficulties and obstacles for investors, reforming administrative procedures, and improving the business and investment environment to improve the competitiveness of the city.

Secretary of the Hanoi Party Committee Dinh Tien Dung delivered a speech at the opening of the conference. Photo: kinhtedothi

Secretary of the City Party Committee Dinh Tien Dung stated that, understanding the difficulties caused by the Covid-19 pandemic, the city has been trying its best, taking many measures to control the pandemic as soon as possible. At the same time, the city focuses on supporting businesses and foreign investors to overcome difficulties to maintain and restore production and business.

In the future development orientation, Hanoi will focus on strongly renewing the growth model, restructuring the economy based on the development of science and technology application, innovation in the whole society.

Creating favorable conditions for investors

Vice Chairman of the City People's Committee Nguyen Manh Quyen speaks at the conference. Photo: kinhtedothi

Vice Chairman of the City People's Committee Nguyen Manh Quyen informed that the Covid-19 pandemic had caused the economic growth of Hanoi to decrease. In the past 9 months, the city's total GRDP product, although still positive 1.28% over the same period last year, is lower than the plan. Although the number of enterprises resuming operation increased by 77%, the number of newly registered enterprises decreased by 12%, dissolved enterprises increased by 22%, and registered enterprises temporarily ceased operation increased by 12% compared to the same period last year.

In order to support businesses to overcome the Covid-19 pandemic, the city has issued and implemented policies on supporting small and medium enterprises, supporting creative startups with many effective solutions.

Accordingly, credit institutions in Hanoi have supported the repayment term for more than 57.7 thousand customers with outstanding balances of over VND 75,000 billion (US$3.31 billion); exempt, reduce and lower interest rates for over 189,000 customers.

In the coming time, to support businesses to restore production and business, the city with the motto "safe adaptation, flexibility, effective control" will issue and implement the Recovery Plan. The plan is to develop the city's economy in association with the prevention, control and control of the Covid-19 pandemic; restore production and business of industries and fields, in industrial zones, clusters and localities.

With its potential, advantages and preeminent policies, Hanoi is ready to create all favorable conditions to welcome and attract potential foreign investors to come and do business in the capital. The city is committed to ensuring the legitimate rights and interests of investors in accordance with the law.

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