Hanoi takes effort to achieve set economic targets

Monday, 2018-04-16 17:51:07
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At a textile factory run by Tan Thanh Textile Production Co., Ltd in My Duc district, Hanoi.
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NDO – Despite strong economic growth in the first quarter of 2018, Hanoi's economic performance was lower than the national average, urging the local authorities to implement a number of measures to stimulate the economy, including promoting administrative reforms, investment, and business activities.

Positive signals

According to Vice Chairman of Hanoi People's Committee Nguyen Doan Toan, the gross regional domestic product (GRDP) of Hanoi reached VND164.8 trillion (US$7.25 billion) in the first quarter of 2018, an increase of 6.98%, higher than the rate of 6.48% in the same period of 2017.

The city's investment climate continued to improve with the provincial competitiveness index (PCI) for 2017 climbing from 14th to 13th among 63 provinces and cities across the country, Hanoi’s highest ever position on the index.

In the three-month period, the city welcomed more than 6.7 million visitors, an increase of 9% over the same period last year. The first quarter's budget revenue was estimated to reach beyond VND58 trillion (US$2.55 billion), a year-on-year increase of 12.3%, equivalent to 24.4% of the year's plan.

In addition, Hanoi administration has taken comprehensive measures to carry out the tasks of planning and urban development and management while showing resolve in handling violations of urban order, pavement use, and traffic safety which has brought about positive results.

However, there remain inadequacies which are obstacles to socio-economic development, including slow progress of land clearance for a number of projects, lack of responsibilities on the part of civil servants, and slow disbursement of public investment, among others.

More specific support measures needed

Director of the city's Department of Industry and Trade (DIT) Le Hong Thang suggested that the city continue to boost administrative reforms and remove difficulties for enterprises to fuel production and business activities in order to achieve the aims set for 2018, especially the targeted economic growth rate of 7.3% to 7.8%, the average level of the national economy.

The DIT has submitted a plan to begin the construction of 14 industrial complexes this year but it will require close coordination between agencies in administrative reform to reduce the preparations for these projects from 355 days to 150 days.

Meanwhile, Director of Hanoi Taxation Department, Nguyen The Manh, said that the taxation sector aimed to accomplish more than 50% of the annual tax collection target in the second quarter of this year. Thus, the sector will focus on easing difficulties for businesses while accelerating the collection of taxes and debt recovery to complete the target of collecting more than VND4 trillion (US$176 million). The tax department will also intensify inspection and reviews of tax declarations to prevent price transfer, especially in the foreign direct investment (FDI) and private sectors.

Vice Chairman Nguyen Doan Toan said that the city People's Committee will encourage a rejuvenation of working methods to improve the efficiency of authorities at all levels in line with stepping up comprehensive administrative reforms and strengthening administrative discipline.

The city will also require all relevant sectors to continue to improve the business and investment environment, promote start-ups, attract investment, and improve competitiveness. At the same time, the production capacity of each sector will be reviewed with a focus on sectors posting low growth rates to put forth appropriate adjustments.

The city leader noted that Hanoi will work to accelerate progress and capital disbursement for 55 key projects in the 2015-2020 period while fostering online public services to facilitate the people and enterprises.

In addition, Hanoi will improve the efficiency of state management in urban planning, land use, construction, urban order, and environmental protection and speeding up the granting of land use certificates to organisations and clean water supply projects.

At the same time, the authorities will work to popularise the regulations of the city’s Code of cultural conduct in parallel with improving the cultural and spiritual life of the local people.

With a strong determination in combination with comprehensive solutions, Hanoi hopes to complete all of the targets set out in 2018.