Hanoi looks to recover economy as pandemic continues

 

Hanoi (VNA) - Hanoi authorities have been identifying and introducing solutions to address pressing difficulties facing production and business and ensure social security amid the COVID-19 pandemic, the 23rd meeting of the 16th Hanoi Party Committee heard on April 22.

Participants discussed key issues relating to the city’s socioeconomic development plan in the remaining months of 2020, COVID-19 prevention efforts, preparations for the 17th Congress of the Hanoi Party organisation, personnel activities, and planning for smart city and metro projects.

According to Vice Chairman of the Hanoi People’s Committee Nguyen Van Suu, the pandemic has had a severe impact on all aspects of society and the city’s major socioeconomic goals in particular.

Economic growth in the first quarter was much lower year-on-year, presenting problems in yearly socioeconomic development objectives being reached.

The capital recorded a rise of 36 percent in the number of businesses ceasing operations in the first quarter and the number of people applying for unemployment insurance benefit rose 22.2 percent. The CPI was higher than in the same period of 2019, especially for food.

Construction continued to slow, affecting the disbursement and efficiency of investment capital.

Secretary of the Hanoi Party Committee Vuong Dinh Hue urged city authorities to do better in the fight against COVID-19, while emphasising the importance of adopting appropriate measures in the future to recover and promote economic development.

Director of the Hanoi Department of Planning and Investment Nguyen Manh Quyen touched on obstacles relating to site clearance and capital disbursement in public investment projects.

Director of the Hanoi Department of Industry and Trade Le Hong Thang, meanwhile, flagged difficulties in promoting exports in the second quarter as major trading partners like Europe, the US, and Japan are also facing difficulties from the epidemic.

He underlined the need to focus on developing the domestic market and creating the most favourable conditions possible for local enterprises to recover production and business.

Director of the Hanoi Department of Taxation Mai Son said that along with deploying the Government’s support packages it has accelerated administrative reform efforts and provided support to enterprises to help them tackle any and all difficulties.

It has also set out a specific scenario to offset revenue losses and complete its budget collection tasks in 2020, he said.

City authorities have also paid due regard to speeding up key projects and removing difficulties facing official development assistance (ODA) projects and foreign and non-budget investment projects to boost investment stimulus.

A project on the development of urban government is now being piloted in the capital./.