Hanoi is determined to improve its performance in 2013 following its sharp fall in the provincial competitiveness index (PCI) last year.

The capital city dropped 15 places to the 51 st position in the CPI ranking in 2012, due to complaints about its cumbersome administrative procedures, poor management of the real estate market, lack of adequate supports for the business community and labourers and weak FDI attraction.

Nguyen The Thao, Chairman of the municipal People’s Committee, has requested relevant agencies to clarify the causes behind those problems and work out measures to address them this year.

He said the city will take drastic and strict measures to restore its economic growth, tackle difficulties for businesses and boost production and trade.

There are seven measure groups in focus, namely supporting the market, dealing with goods in inventory; facilitating access to capital to boost production and trade; effectively implementing fiscal policies; solving difficulties in the real estate market; improving investment, production and trade environment; enhancing information campaigns through the mass media and establishing a steering committee for the measures.

In particular, Hanoi will spare no efforts to improve the quality of public services and speed up the reform of procedures in investment, land, credits, taxation, customs and business registration.

The city has organised two dialogues between the authorities, banks and businesses in the locality to listen to investors’ needs and demands.

Since the beginning of the year, the capital has witnessed positive economic signs. In Q1, the gross regional domestic product (GRDP) expanded 7.5 percent from the same period last year, with service and agricultural sectors reporting improvements.

However, industry and construction plunged and the real estate market showed no signs of recovery. A number of construction projects have been delayed or rescheduled.-VNA