HCM City set on goal of 500,000 businesses by 2020

At a recent conference on implementing the business development plan, Le Thanh Liem, Vice Chairman of the municipal People’s Committee also stressed the quality of businesses while working towards the goal.

He told the conference that the municipal People’s Committee has put forward strategic measures, with the focus on reforming administrative procedures, creating a favourable environment for startup and innovation businesses, and ensuring equality among businesses in accessing loans and business opportunities.

Meanwhile, Tran Thi Binh Minh, deputy director of the municipal Department of Planning and Investment, stressed the need for synchronous measure to support both the operation of existing firms and the transformation of household businesses.

She suggested that it is necessary to popularise the benefits of the transformation and provide assistance to household businesses in the form of consultation on business establishment and tax declaration procedures as well as help in product marketing.

Sharing the same viewpoint, deputy director of the municipal Tax Department Le Duy Minh stated that his department has introduced a support programme designed specifically for start-ups, including both newly-established and transformed firms.

Regarding the goal of 60,000 businesses in 2017, Liem said that it is feasible as the number of new enterprises is estimated at 43,000, while the municipal People’s Committee assigned the target of transforming 20,000 household businesses for districts.