The HCM City government will focus on improving the businessenvironment and streamline administrative procedures this year and nextto make life easier for investors, the Saigon Times Daily reported.
Accordingto the Daily, in a plan issued last week, the city will reduce the timefor tax payment to no more than 121.5 hours per year, goods export to13 days and goods import to 14 days, business registration to threedays, and business closure from 60 months to 30 months.
These reforms will be carried from now to the year-end.
Nextyear the time needed for registering for rights to ownership and use ofassets will be brought down from 57 days to 14 days, settling tradedisputes from 400 days to 200 days, and processing a bankruptcy requestfrom 60 months to 24 months.
According to the city government, the competitiveness of the city is still lower than a lot of other provinces in the country.
Ofthe 10 sub-indexes in the Provincial Competitive Index (PCI), namelyentry costs, land access and security of tenure, transparency, timecosts, informal charges, proactivity of the provincial leadership,policy bias, business support services, labour training policy and legalinstitutions, HCM City has seven below average.
After 10 yearsin the PCI Survey, HCM City got into the top five of the best-governedprovinces and cities in Vietnam. But its ranking was still below DaNang, Dong Thap and Lao Cai though it is an attractive destination formany domestic and foreign investors.-VNA
Accordingto the Daily, in a plan issued last week, the city will reduce the timefor tax payment to no more than 121.5 hours per year, goods export to13 days and goods import to 14 days, business registration to threedays, and business closure from 60 months to 30 months.
These reforms will be carried from now to the year-end.
Nextyear the time needed for registering for rights to ownership and use ofassets will be brought down from 57 days to 14 days, settling tradedisputes from 400 days to 200 days, and processing a bankruptcy requestfrom 60 months to 24 months.
According to the city government, the competitiveness of the city is still lower than a lot of other provinces in the country.
Ofthe 10 sub-indexes in the Provincial Competitive Index (PCI), namelyentry costs, land access and security of tenure, transparency, timecosts, informal charges, proactivity of the provincial leadership,policy bias, business support services, labour training policy and legalinstitutions, HCM City has seven below average.
After 10 yearsin the PCI Survey, HCM City got into the top five of the best-governedprovinces and cities in Vietnam. But its ranking was still below DaNang, Dong Thap and Lao Cai though it is an attractive destination formany domestic and foreign investors.-VNA
