HCMC pledges to support enterprises

Shortening the time for investment registration, creating more support for small and medium enterprises, and developing local brands; these are some of the suggestions made by 150 enterprises in a meeting with Ho Chi Minh City’s authorities, where they discussed the implementation of resolution 35 on supporting businesses.

The city is aiming for an e-government system, so that 30% of local businesses can complete their administrative procedures online. Any enterprise starting business with 4.5 million USD can receive loans worth 85% of its investments. The city will also spend 45 million usd to support start-up companies. By 2020, Ho Chi Minh City aims to have 500 thousand enterprises in operation, accounting for 50% of all enterprises in Vietnam.