Hanoi has helped local businesses access to new technologies and raise their competitiveness (Photo: VNA) Hanoi (VNA) – Hanoi has helpedlocal businesses access to new technologies and raise their competitiveness,said Tran Thi Phuong Lan, Deputy Director of the municipal Department ofIndustry and Trade.
The department has worked to introduce Hanoi’sgoods and handicrafts on its online portal, as well as connect local firms withVietnamese trade offices in foreign countries.
In recent years, the city has issued variousdecisions to encourage 20 local craft villages and 50 firms to build their ownbrands.
Local businesses are advised to raise theircompetitiveness and promote brand building, especially enhance industrialapplication in manufacturing process.
As many firms expressed their hope to receivesupport from local authorities to access capital with preferential interest,local authorities have cooperated with the State Bank of Vietnam to establishlinks between banking and businesses sectors, Lan added.
Credit institutions in Hanoi provided loans worth233.73 trillion VND (10.3 billion USD) to local businesses in 2016 and thefigure increased to more than 300 trillion VND (13.2 billion USD) this year.
To help local businesses get access to thefourth industrial revolution, Vice Chairman of the Hanoi People’s CommitteeNguyen Doan Toan affirmed that authorised authorities will continue helpingenterprise join trade promotion activities, promote their brands, accelerateadministrative reform and expand production.
However, businesses need to take the initiative in popularising theirproducts and applying scientific and technological advances in production, Toanadded.-VNA
