Hanoi strives to become national startup, creativity center

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By Tuan Minh 16:27, 2016/06/06

To actively develop comprehensive investment environment in Hanoi, in the framework of the conference "Hanoi 2016 - Investment and Development Cooperation", delegates witnessed the signing MoU between Hanoi People`s Committee with organizations, corporations, investors, marking the city`s determination to improve mechanisms and infrastructure management systems .

Chairman of Hanoi People's Committee Nguyen Duc Chung have signed some Memorandum of Understanding to enhance cooperation on investment, economic development in Hanoi, aiming at environmentally friendly.

Chairman of Hanoi People's Committee Nguyen Duc Chung and Japanese Ambassador Hiroshi Fukada in Vietnam have signed a Memorandum of Understanding

While chairing the business conference, PM Nguyen Xuan Phuc urged Ha Noi to become the pioneer in business startup and creativity. The PM addressed the first business conference of Hanoi after the Government issues a specialized resolution on improving business environment and national competitiveness.

This is the biggest business conference that the capital city has organized so far in a bid to realize the Government’s resolution No. 19/2016/NQ-CP on improving business environment and national competitiveness capacity. Hanoi is also the first locality to hold this kind of event with the participation of the city leaders and domestic and foreign investors, hailed the Government chief, adding that it reflects the city’s priority. To become a national-level startup, creativity hub, PM Phuc suggested that the city must stand ready to accept innovation and take initiatives to encourage and support startup models.

Hanoi also need to develop regional connectivity to expand development space and take the lead in planning reform with the involvement of residents, experts and relevant ministries and agencies. Speaking in front of hundreds of foreign and domestic investors, the PM asserted that the Government is focusing on institutional development and minimizing administrative order interventions while speeding up e-Government.

Secretary of the Hanoi Party Committee Hoang Trung Hai reaffirmed the city’s commitment to an open and transparent business. He said the city needs VND2.5-2.6 quadrillion for the social investment between 2016-2020, 80% of which from the private sector and foreign-invested sector.

Chairman of the Municipal People’s Committee Nguyen Duc Chung introduced a list of projects which are being called for investment, including 52 public-private partnership projects and 43 ones in social form, worth US$16 billion and US$17.5 billion, respectively.

Chung pledged that since June 2016, business registration will be conducted online within just two working days instead of the current three working days and the city will cut time for processing administrative procedures related to investment by 40%.

Also at the event, the city granted decisions on investment approval and investment registration certificates to 23 domestic and foreign investors in the fields of telecommunication, urban water supply, entertainment, housing, health and commercial services.

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