The programme “Business Night 2019” was held by the Hanoi Association ofSmall and Medium-sizedEnterprises on the occasion of the 65th anniversary of Hanoi’sliberation (October 10) and the 15th anniversary of Vietnam EntrepreneursDay (October 13).
Speaking at the event, Chairman of the municipal People’s Committee Nguyen DucChung said over the past years, Hanoi has stepped up administrative reform andincreased the application of information technology to reduce time and costsfor businesses.
The city has issued many policies to support startup and innovation with a goalof building Hanoi into a startup and innovation centre of the country and a venuethat connects resources of the startup ecosystem, he said.
Appreciating the great contributions of the local business community, especiallySMEs, to the city’s general development over the past time, Chung said hebelieves that in 2020 and following years, the business community will continueplaying a core role in the capital’s development and prepare firm conditionsfor their international integration.
Also at the event, local businesses donated over 3 billion VND (129,300 USD)for the Hanoi Fund for Children to help poor children and families withdifficulties in the city.
With the business community’scontributions, in 2018, the Provincial Competitiveness Index of Hanoi leapt 15places to ninth position among the country’s 63 provinces and cities.
The favourable environment has helped raise the number ofenterprises established in the city since 2016 to almost 93,000, an increase of22.5 percent compared to the 2011-2015 period, with a combined capital of 280.1trillion VND, 1.17 times higher than the capital registered between 2011 and2015.
Hanoi has attracted 20.28 billion USD in foreign direct investment (FDI) since2016, rising over three-fold from 2011-2015 and making the city the bestperformer in FDI attraction nationwide.
|The private economic sector has become an important drivingforce of the local economy with its proportion increasing from 37.5 percent ofthe GRDP in 2015 to 39 percent in 2018.
Hanoi posted average annual economic growth of 7.2percent between 2016 and 2018. The size of its economy has also expanded, withGRDP hitting 920.27 trillion VND (39.6 billion USD) last year./.