Business

HCM City has 26,000 new businesses in 2013

In 2013, Ho Chi Minh City, which is Vietnam’s economic and business hub, saw the establishment of 26,000 new businesses and at the same time the dissolution of the existing 19,000 businesses due to economic difficulties.
In 2013, Ho Chi Minh City, which is Vietnam’s economic and businesshub, saw the establishment of 26,000 new businesses and at the same timethe dissolve of the existing 19,000 businesses due to economicdifficulties.

The figures were unveiled by the HCM City BusinessAssociation, which also pointed to a hard year in 2014 for thosebusinesses which still use backward technologies and yet sharpen theircompetitiveness.

At the association’s recent meeting to reviewits performance in 2013, the municipal authorities informed that theattraction of foreign direct investment was fruitful, noting a surge inboth number and value of projects from Japan.

They also notedthat almost all State corporation and groups headquartered in the citygenerated profits and the city’s GDP grew 9.3 percent against 2012.

These good performances have created momentum for businesses to moveforward in 2014, the municipal authorities said, however, asking theseplayers to persist in restructuring their operations and work togetherwith their association to promptly address troubles that may arise.

From January 2014, the city will continue allowing businesses toregister their operation online along with further streamliningadministrative procedures to facilitate their smooth, efficientactivities.-VNA
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