HCM City strives to become top regional investment destination
Ho Chi Minh City has taken bold steps as part of efforts to establish itself as a leading destination in the region for investment, renovation, and science-technology by 2025, thereby creating a fair and safe business environment for both local businesses and investors.
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Ho Chi Minh City has taken bold steps as part of efforts to establish itself as a leading destination in the region
In line with a new plan recently issued by the municipal People’s Committee for the 2021 to 2025 period, the southern metropolis is set to continue improving the Provincial Competitiveness Index (PCI). This will be done while seeking measures aimed at improving the investment and business environment towards enjoying easier, more transparent, and fairer orientations.
Furthermore, the southern city is poised to become one of the five leading localities in PCI by 2025.
It also has ambitions of entering the list of top localities nationwide in terms of socio-economic management quality through initiating rapid digital transformation.
Moreover, the municipal People’s Committee has adopted a range of measures, including enhancing the leadership and direction of improvements to the city’s competitiveness, in addition to the local business and investment environment. Other efforts include developing plans to speed up administrative reform.
As a means of increasing the PCI component indexes, the Ho Chi Minh City is aiming to have at least 93% of business registration requests and 40% of investment licenses processed online.
This is part of plans to improve the operational efficiency of the centre for the purpose of land reserve development in order to prepare land for potential investors.
Along with making public all processes in relation to administrative procedures that will ultimately make it easier for people and businesses to follow, the southern city will also work to reduce the time needed for processing and improve the quality of public services.
The municipal People’s Committee has therefore assigned the Department of Planning and Investment to co-operate alongside the Vietnam Chamber of Commerce and Industry (VCCI) as they strive to build a set of criteria to assess the capacity of departments, sectors, and localities around the city.
This will be done by applying measures to improve the business and investment environment and the PCI for the 2021 to 2025 period.
