Prime Minister Nguyen Xuan Phuc chaired a one-day regular Cabinet meeting for July on August 3, which focused on seeking measures to fulfil socio-economic goals amidst COVID-19 pandemic.
The property market have experienced instable developments due to impacts of the COVID-19 pandemic, while halted projects and overlapping regulations have also hindered the expansion of supply sources.
More measures and policies should be introduced to support enterprises, especially small and medium-sized enterprises (SMEs), in the context of a growing number of businesses temporarily ceasing operations due to the COVID-19 pandemic, economists have said.
Ho Chi Minh City has applied measures to encourage business households to turn themselves into companies, but the results have not met expectations, according to the municipal government.
Vietnam recorded a continuous increase in the number of newly established enterprises in the first 11 months, demonstrating the efficiency of improving the business investment environment.
Prime Minister Nguyen Xuan Phuc told a regular cabinet meeting in Hanoi on November 5 that positive results of the economy in October and the past 10 months create an important foundation for new production capacity and sustainable growth.
The non-State sector is playing a greater role in the economy with its proportion in the society’s total investment rising fastest among all economic sectors’.
With a GDP expansion of 7.31 percent in the third quarter, the growth target of 6.6 – 6.8 percent for 2019 set by the National Assembly is achievable and likely to reach 7.05 percent.
As many as 90,500 new businesses were established in the first eight months of the year, with a combined registered capital of 1.1 quadrillion VND (47.3 billion USD), a year-on-year increase of 3.5 percent in the number of enterprises and 31 percent in capital, according to the General Statistics Office (GSO).
The country had 79,300 newly-established businesses with a combined registered capital of 999.4 trillion VND (42.97 billion USD) in January – July, representing year-on-year increases of 4.6 percent and 29.6 percent, respectively.
Enterprise development and the digital economy need to be prioritised in policies, said Deputy Chairman of the Committee for Management of State Capital at Enterprises (CMSC) Ho Sy Hung.
The central province of Thua Thien-Hue will work with local enterprises to remove all business bottlenecks, said Chairman of the provincial People’s Committee Phan Ngoc Tho on August 13.
A total of 80,500 workers were registered at newly-established businesses in May, down 24.5 percent year-on-year, according to the General Statistics Office (GSO).
The People’s Committee of Ninh Thuan province has granted investment licences to nine solar power projects worth over 12 trillion VND (527.4 million USD).
The Mekong Delta province of Tra Vinh will promote food processing and supporting industry development this year, said Vice Chairman of the provincial People’s Committee Nguyen Trung Hoang.
Up to 48.2 percent of the processing and manufacturing enterprises joining in a survey of the General Statistics Office (GSO) said business activities in the first quarter of 2018 will be better.
The number of newly-established firms and firms resuming operations set a record in 2017 with more than 153,000 companies with total registered capital of 3.16 quadrillion VND (139 billion USD).
The Ho Chi Minh City People’s Council (ninth tenure) set a gross regional domestic product (GRDP) growth rate of 8.3-8.5 percent for 2018 during its sixth session that took place from December 4-7.
The increasing number of newly-established firms in the southern region in recent years has demonstrated their stronger confidence in Party and State policies designed to support the development of the private economy.
Politics
