Target of having more than 1 million private enterprises by 2045
Mr. Nguyen Thanh Toan - Deputy Director of the Department of Finance - said that Ho Chi Minh City's private economic development plan closely follows the view of considering the private sector as an important driving force of the national economy. The city aims to eliminate prejudices and ideological barriers for the private sector; ensure equal competition in mobilizing, allocating and using resources. "The difficulties of businesses are also the common difficulties of the city" - Mr. Toan emphasized.
Accordingly, Ho Chi Minh City sets a target of 750,000 private enterprises operating by 2030, the private sector contributing 55-58% of GRDP and 50-55% of total city budget revenue, with an average growth rate of 10-12%/year. By 2045, strive to reach 1,050,000-1,250,000 private enterprises.
The plan includes 8 key groups of tasks and strategic solutions, emphasizing innovation in thinking, unifying social awareness of the role of the private economy through propaganda and mobilization; strictly handling and publicizing acts of harassment, negativity or misinformation affecting businesses.
The city requires State agencies to change their thinking from "control" to "accompanying", considering businesses as "service" subjects instead of "management". The goal is to reduce at least 30% of administrative procedure processing time, 30% of compliance with legal costs and 30% of business conditions by 2025.
The Ho Chi Minh City Business Association (HUBA) said that Resolution 68 is an important driving force to promote the private economic sector. The city is concretizing the spirit of this resolution through improving the business environment, supporting businesses to access capital, and encouraging innovation.
According to Mr. Nguyen Phuoc Hung - Vice Chairman of HUBA, business confidence is still high, reflecting the spillover effect of the State's public investment policies and support for the private economic sector.
In terms of the economic sector, the construction and real estate sectors are assessed to have many prospects for recovery thanks to the positive impact of the "four pillars of the resolution": Developing the private economy, science - technology, reforming administrative procedures and integrating internationally, along with policies to promote public investment.
Comprehensive support, promoting sustainable development of the private sector
According to the Ho Chi Minh City People's Committee, the private economic development plan implemented under Decision No. 2205 is a step to concretize the action program of the City Party Committee and Resolution 68 of the Politburo.
The goal of the plan is to create a favorable and equal investment and business environment, mobilizing maximum resources from businesses to develop the city. Departments, branches and localities are required to consider the difficulties of enterprises as common difficulties; the success of enterprises is the success of the government.
The Ho Chi Minh City government affirms that it will accompany, serve, and support the private sector to develop quickly and sustainably...
Departments, branches, People's Committees of wards and communes are required to innovate their thinking, shift from management to service, take people and businesses as the center, and modernize data-based governance. Along with that, administrative procedures will be reviewed, cutting at least 30% of processing time and compliance costs; applying digital technology, artificial intelligence, big data to make processes transparent, especially in the fields of land, investment, tax, customs, insurance, intellectual property, standards and regulations.
Ho Chi Minh City also focuses on removing difficulties in land, capital, and high-quality human resources for the private sector.
The authorities will review and pay outstanding debts, avoid capital appropriation and loss of social resources. The Department of Finance is assigned to coordinate with units to implement policies to support small and medium-sized enterprises, exempt corporate income tax for the first 3 years, abolish unnecessary business expenses and conditions, and switch to the announcement and post-inspection mechanism, to reduce costs and create maximum convenience for businesses.
