Capital spends US$40 million to support SMEs in 2021-2025

05/01/2021

VGP – Ha Noi will put aside VND957 billion (US$41.45 million) sourced from the local budget to implement a supporting program for small- and medium-sized enterprises (SMEs) in the 2021-25 period.

Illustration photo

Chairman of the Ha Noi municipal People’s Committee Chu Ngoc Anh recently signed Decision 5742/QD-UBND on the supporting program for small and medium-sized enterprises (SMEs) in the 2021-25 period.

The program set three main tasks for local authorities, including providing overall support for SMEs; supporting business households to formalize into enterprises as well as SMEs further integrate into value chains; and drafting preferential treatment for enterprises.

The city will also accelerate the administrative reform and the application of public services at advanced online stages of three and four out of the four-scale level, along with higher ranking in the Provincial Competitiveness Index (CPI).

Ha Noi targets to create 150,000 new enterprises in the next five years, or an average growth of business creation at 10% per year, equivalent to 30,000 newly established ones.

In the 2021-25, SMEs in Ha Noi are expected to create additional 1.5 million jobs, while making up over 40% of the city’s gross regional domestic product (GRDP), 30% of the state budget and 25% of total export turnover.

The city also targets to provide support for at least 500 SMEs in the manufacturing and processing sector, especially those in IT, industrial electronics, hi-tech farming, and agricultural production, among others.

As of December 31, the city has a total of 26,441 newly established enterprises with a combined registered capital of VND337.68 trillion (US$14.61 billion), bringing the total number of operational companies in the city to 303,646, while the number of enterprises resuming operation surged 21% year-on-year to 6,298.

So far, 100% of public services in Ha Noi are provided at advanced online stages of three and four, including administrative procedures directly impacted businesses such as business registration, tax payment, social insurance, land, and electricity.

The city provided 100% of online business registration, 97.1% of online tax declaration, and 95.5% online business tax payment./.

By Kim Loan