Hanoi works to fulfill socio-economic targets of 2020

Friday, 2020-09-11 17:29:48
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Secretary of the Hanoi Party Committee Vuong Dinh Hue speaks at the meeting.
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NDO/VNA – Politburo member and Secretary of the Hanoi Party Committee Vuong Dinh Hue ordered departments, sectors and localities to remove bottlenecks for local businesses with a view to realising the 4.5-5 percent GDP growth target this year.

He made the request while chairing a working session on September 10 with competent agencies to discuss socio-economic development solutions in the city in 2020.

In response to the appeal of the Party General Secretary and President, Directives of the Politburo, the Party Central Committee’ Secretariat, the Prime Minister, and decrees of the Government on carrying out the dual tasks of fighting COVID-19 pandemic and boosting socio-economic development, Hanoi has put the outbreak under control, supported business and investment activities, and ensured social welfare for the public, Hue said.

The top priority for capital city now is still disease prevention, while making good preparations for activities to mark the 1,010th anniversary of Thang Long-Hanoi and the city’s 17th Party congress, he said, adding that at the same time, drastic measures must be taken to recover the economy.

According to Director of Hanoi Tax Department Mai Son, budget collection in the first eight months of the year, excluding the rescheduled taxes and land use fees, amounted to more than VND147 trillion (US$6.34 billion), accounting for 56.5% of the estimate and 89.4% of the same time last year. However, disbursement of public investment capital lagged behind progress as it only made up of 45.41% of the yearly plan.

At the event, participants expressed their determination to reform administrative procedures as well as continue with support for investors and local firms amid the complicated development of the COVID-19 outbreak.

To date, the city has approved 122 out of 124 projects funded by public capital planned for 2020, and construction has begun for 76 projects.

Among 30 districts and towns, 25 have committed to disbursing public investment capital in line with schedule.

Hue lauded efforts made by all sectors in the past time, saying they contributed to the city’s gross regional domestic product (GRDP) of 3.49% for the January-August period, which is 1.92 times higher than the nation’s average.

He urged relevant authorities to complete budget collection which was earlier set at VND260.4 trillion, helping ensure sufficient resources for social welfare and investment.

Besides, all districts must drastically carry out the city’s Decree No.22/NQ-HDND to promote disbursement of all planned public investment, he added.

The municipal People’s Committee should set up five groups to help districts and towns handle challenges while implementing socio-economic missions until the end of 2020, Secretary Hue said.

The COVID-19 pandemic has caused difficulties for production and business activities in Hanoi.

More than 1,200 enterprises implemented dissolution procedures from the beginning of the year in Hanoi alone, a year-on-year increase of 25%, and 7,075 enterprises registered to suspend operations, up 49%.

Earlier, the city held the Hanoi 2020-Investment and Development Cooperation conference to attract domestic and foreign investment, especially the foreign direct investment (FDI), which showed the capital city’s determination to be a pioneer in economic recovery and development post-COVID-19.

The organisation of the conference was a strong message to affirm that Hanoi is a safe and stable destination for investors.

The city has focused on boosting administrative reform, improving the investment and business environment to call for investment and promote growth.

The municipal People's Committee reported that foreign investment attraction of the city reached US$2.86 billion in the first eight months of the year, ranking second in the country.

Domestic investment attraction reached VND9.16 trillion (US$393.1 million) with four new projects and 26 projects increasing capital.