Mr. Nguyen Van Duoc - Chairman of Ho Chi Minh City People's Committee (front row, second from left) - shared and encouraged businesses to accompany the city with the goal of double-digit growth - Photo: NH
The Business Coffee program with the theme "Enterprises with double-digit growth goals" organized by the Ho Chi Minh City Business Association on March 8 took place in a bustling atmosphere.
A day earlier, General Secretary To Lam emphasized that the private economy is the most important driving force for economic growth.
The wish of businesses and experts is to start by immediately removing bottlenecks in administrative procedures, removing obstacles for projects, providing capital, and creating mechanisms for businesses to grow.
In particular, it is necessary to proactively nurture the business ecosystem to form domestic "eagles" that play a leading role.
Other localities, especially Hanoi, have seen the emergence of "leading cranes", so Ho Chi Minh City must effectively utilize Resolution 98, reshaping itself not only as a place for innovation and startups but also forming strong "leading cranes" to lead and spread development in the business community.
Individual households are still hesitant to become companies
Ms. Ly Kim Chi - President of the Ho Chi Minh City Food and Foodstuff Association - said that the actual number of enterprises operating, having production, revenue and reporting periodically in the city is about 230,000 enterprises.
The city also has about 400,000 individual business households operating very effectively and sustainably, even with high revenue and profit, and very few of them are dissolved.
"State policies need to encourage these households to switch to a corporate model on the condition that they provide maximum support for tax procedures, optimize procedures, and not let businesses encounter difficulties. In the digital economy era, administrative procedures must be digitized, and reports must be made in the easiest and most convenient way.
If this can be done, business households will turn into enterprises, giving them the opportunity to increase capital, expand their scale and operate more effectively, while contributing to the city's goal of 500,000 enterprises," Ms. Chi proposed.
In fact, according to businesses, although the Government has called for a 30% reduction in procedures, there are still problems and bottlenecks, so businesses need management agencies to be more decisive in this reform issue.
In addition, Ms. Chi also said that it is necessary to free up land resources, allocate land funds for priority areas, and publicly auction surplus land to create a transparent and effective source of revenue.
Businesses can borrow up to 1,000 billion VND, preferential interest rates
Mr. Nguyen Quang Thanh - Deputy General Director of Ho Chi Minh City State Financial Investment Company (HFIC) - said that in addition to capital from commercial banks, enterprises can access capital from the city's investment stimulus program, with interest rates reduced to 0%, loans up to 200 billion VND.
Enterprises can even access loans of up to 500 - 1,000 billion VND, with a loan term of up to seven years, with the aim of helping enterprises develop strongly and contribute to the growth of the city.
Businesses still fight with the jungle of procedures
Mr. Tran Quoc Bao - Chairman of the Ho Chi Minh City Real Estate Club - said that what businesses need most now is to shorten the licensing process so that projects can develop quickly and businesses can reduce barriers in terms of time and procedures.
Mr. Bao cited an example of a project, the enterprise must submit it to 6-8 departments, each department usually takes three months, resulting in a very long development time. Therefore, if there is a shortened process, only three months to complete the process, approval or not must be clearly answered to the enterprise, the project will develop quickly, not lingering for months and years.
Sharing the same view, Ms. Duong Thanh Thuy - Vice President of Thanh Thuy Group - said that cumbersome and lengthy procedures will increase costs for businesses, making it difficult for them to develop and grow, and even discourage entrepreneurs.
Besides, Vietnamese enterprises are often inspected and examined, causing enterprises to spend time explaining documents, making them tired and unable to devote their efforts and resources to focus on developing the company.
Dr. Tran Dinh Thien - former director of the Vietnam Economic Institute - said that the city's goal of high double-digit growth is positive, but to reach the goal, the city needs to have "unusual" measures, otherwise it will be difficult to achieve the ambition. In particular, private enterprises are one of the key factors.
Mr. Thien believes that this is the time when strong messages must be accompanied by real transformation, as happened in 1986 when the reform started, the private sector was allowed to do business, helping the Vietnamese economy revive after six months despite 700% inflation before.
Therefore, in terms of policy, we must change our approach to economic development, not just improve but have unusual approaches instead of "expanding" policies.
Workers operate chip production at Dien Quang High-Tech One Member Co., Ltd. in Ho Chi Minh City High-Tech Park - Photo: QUANG DINH
"Eagle" nursery
What is that new approach? Mr. Thien believes that Ho Chi Minh City needs to move to a new industrial development ecosystem, with the participation of high-tech corporations and global supply chains.
"We cannot rely on 'bringing eagles to nest', Ho Chi Minh City needs to proactively nurture the business ecosystem to form domestic 'eagles'. This requires close cooperation between large and medium enterprises, creating a strong ecosystem, attracting investment and talent," said Mr. Thien.
Dr. Vo Tri Thanh - Director of the Institute for Brand Strategy and Competition Research - noted: "The Central Government has great policies and expectations for private enterprises, so it is necessary to take advantage of turning households into developed enterprises and especially make breakthroughs for leading enterprises, large enterprises and leading enterprises in the private sector".
Regarding Ho Chi Minh City's economic growth, this expert also believes that in order to develop rapidly, the city must return to its role as a place with breakthroughs, innovations in policies and reforms, spreading throughout the country like in the 1980s and 1990s.
"HCMC is not only a place waiting for the central government to make decisions and be creative, but HCMC must be an incubator, a place with creative breakthroughs in policies, not only with Resolution 98 but also with creativity, the city's leadership and spread must be at the highest level," Mr. Thanh expected.
Data: NHU BINH - Graphics: T.DAT
Ho Chi Minh City "bets" on infrastructure, technology and finance to break through
Mr. Nguyen Van Duoc - Chairman of the Ho Chi Minh City People's Committee - pledged that the city will quickly overcome existing problems, remove "blood clots" with pending projects, release existing resources and deploy new resources.
"The city will form a multi-purpose high-tech center, a center for AI (artificial intelligence), innovation, and a center for big data, expected to be located in Thu Duc City on the basis of expanding the Ho Chi Minh City High-Tech Park," said Mr. Duoc.
In addition, the Chairman of the City People's Committee also said that the City government is determined to change its mindset from public administration to service, considering people and businesses as the center, and the business community as the resource for development.
Source: https://tuoitre.vn/can-cham-chut-cho-seu-dau-dan-viet-thanh-dai-bang-noi-2025030822420557.htm
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