Capital betters investment environment


VGP – The local authorities of Ha Noi have deployed a series of programs to support enterprises to flourish; reform administrative procedures; and facilitate the operation of enterprises and investors. 

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The city houses 272,000 enterprises and is deploying important measures to raise PCI and competitiveness. 

Average VND 10 billion of register capital per enterprise

The Ha Noi Department of Planning and Investment reported that as of late August, Ha Noi housed about 272,000 enterprises including 22,666 in 2016, 24,536 in 2017, 27,742 in 2018, and 17,846 in 2019 (up 9% against the same period last year). 

In the 2016-2018, 86,019 enterprises were founded, up 47% in comparison with the previous period when Resolution 35/NQ-CP on developing enterprises through 2020 was adopted.

In the 2018-2019 period, average capital registration per enterprise hit about VND 10 billion. The employment per business is 38, 3.8 times higher than the national average figure with 135. These enterprises contributed about 30% of capital to the local budget. 

SMEs accounted for 97% of total number of enterprises with average registered capital of about VND 7 billion each in the 2016-2018 period. In 2019, the average registered capital touched over US$ 10 billion. 

Statistics showed that SMEs generated about 40% of local GRDP, 60% of jobs and contributed around 30% of budget. 

Reforming administrative procedures

Director of the SMEs Support Center Le Van Quan reported that since August 2016, the Department of Planning and Investment has implemented Resolution 36a/NQ-CP on e-government and implement 12 free-of-charge administrative procedures. The Department requested individuals and enterprises to submit online dossiers and combine the procedure on business information announcement with another on business registration establishment and registration.  

The Department also accelerated online business registration via the mass media; issued leaflets and handbooks on online business registration.

In addition, the city applied the modal on friendly business registration office which provided utility support services for enterprises./.

By Kim Loan