HCM City set on goal of 500,000 businesses by 2020

A Ho Chi Minh City leader has instructed all municipal departments and districts to map out specific plans and measures to encourage household businesses to transform into enterprises towards the goal of developing 500,000 enterprises by 2020.
HCM City set on goal of 500,000 businesses by 2020 ảnh 1Illustrative image (Source: VNA)
Ho Chi Minh City (VNA) – A Ho Chi Minh City leaderhas instructed all municipal departments and districts to map out specificplans and measures to encourage household businesses to transform intoenterprises towards the goal of developing 500,000 enterprises by 2020.

At a recent conference on implementing the businessdevelopment plan, Le Thanh Liem, Vice Chairman of the municipal People’sCommittee also stressed the quality of businesses while working towards thegoal.

He told the conference that the municipal People’s Committeehas put forward strategic measures, with the focus on reforming administrativeprocedures, creating a favourable environment for startup and innovation businesses,and ensuring equality among businesses in accessing loans and businessopportunities.

Meanwhile, Tran Thi Binh Minh, deputy director of themunicipal Department of Planning and Investment, stressed the need forsynchronous measure to support both the operation of existing firms and thetransformation of household businesses.

She suggested that it is necessary to popularise thebenefits of the transformation and provide assistance to household businessesin the form of consultation on business establishment and tax declarationprocedures as well as help in product marketing.

Sharing the same viewpoint, deputy director of the municipalTax Department Le Duy Minh stated that his department has introduced a support programmedesigned specifically for start-ups, including both newly-established andtransformed firms.

Regarding the goal of 60,000 businesses in 2017, Liem saidthat it is feasible as the number of new enterprises is estimated at 43,000,while the municipal People’s Committee assigned the target of transforming20,000 household businesses for districts.-VNA
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