Hanoi is becoming an increasingly attractive destination for foreign investors thanks to the city’s efforts to improve its investment environment, according to Director of the Vietnam Chamber for Industry and Commerce Vu Tien Loc.
The city has been valued for its efforts in administrative reform and modernisation, business support, and enhancing information transparency, Loc said at a working session with municipal leaders on ways to advance the local investment environment and competitiveness on March 5.
According to the municipal People’s Committee, the city’s provincial competitiveness index was raised 18 spaces to rank 33 rd out of 63 localities nationwide in 2013, while the administrative reform index rose by two to stand at 5 th place.
Hanoi also ranks second in the IT application index, reported the committee.
Nguyen Ngoc Tuan, Vice Chairman of the Committee, said in a bid to build a positive image and attract investors, the city will renovate its administrative system alongside drastic changes in taxes and customs, among other fields.
The city has been a pioneer in shortening the duration of business licence granting to three days from five days previously, he noted.
At the same time, Nguyen The Thao, Chairman of the municipal People’s Committee, said careful consideration is essential in choosing suitable investors, requiring transparency and comprehensive renovation from processing investment procedure to supporting investors.-VNA
