Chairman of Hanoi People’s Committee Nguyen Duc Chung has requested the city’s entire political system to apply the mindset of fight Covid-19 to economic development, ensuring all business activities to return to normal as soon as possible.

Chairman of Hanoi People's Committee Nguyen Duc Chung at the meeting.

Under the severe impacts of the Covid-19 pandemic, Hanoi’s major economic indicators recorded lower growth rates compared to the same period last year during the first four months of 2020, said Chung at a meeting on May 6.

As the pandemic may persist for a longer time, Chung said the fight could only end when the world has Covid-19 vaccines approved.

In case the global economy falls into a deep recession, Hanoi’s economy would no doubt be impacted, and the economic growth target which is set at 1.3 times higher than the national average would not be achievable, Chung said.

Chung requested the local authorities to stay alert for any potential outbreak of the pandemic, saying the good pandemic prevention could serve as a foundation for socio-economic development.

Among measures to boost economic recovery, Chung emphasized the necessity to cut regular spending by 15%, while continue pushing for speedier disbursement in public investment.

Meanwhile, the city would continue to organize goods supply – demand matching programs to drive up domestic consumption.

Chung also noted adminstrative reform should be a backbone during the process of socio-economic development, stressing all local agencies must focus on addressing issues related to administrative procedures for enterprises and citizens.

Time is gold, and a lost opportunity would result in high cost for businesses, Chung added.

Referring to a survey from the Vietnam Chamber of Commerce and Industry (VCCI) which revealed that foreign-invested enterprises must pay up to VND24 million (US$1,000) as an under-the-table fee to get a construction license, Chung requested the municipal Department of Construction to address this issue.

Hanoi would continue to push for measures to stabilize macro-economic conditions; restructure economic sectors; and encourage enterprises to apply IT, particularly in the agricultural sector, to improve labor productivity, Chung stated.