Hanoi prioritizes the removal of difficulties for enterprises, increasing budget revenue

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State budget revenue in the first 6 months was estimated at VND 120 trillion, gaining 50.4% of the estimate, up 19% over the same period last year. Photo: Thu Mai

According to Hung, Hanoi has taken many measures to attract investment, remove difficulties for enterprises and improve the investment environment.

Hanoi city has promoted calling for investment in new projects and actively urged competent agencies to assist investors to overcome difficulties during the implementation of projects.

General Indexes on competitiveness and Public Administration Reform in 2017 continue to rise and rank higher than those of other provinces and cities: the Provincial Competitiveness Index (PCI) is ranked 13th of 63 (increased one place); PAR Index is ranked 2nd of 63 (up one level). Hanoi organized “Hanoi 2018 - Investment and Development Cooperation” Conference on 17th June 2018.

In addition, Hanoi City also has developed many policies to encourage the establishment of enterprises, private economic development; submitted to the City People's Council for consideration and approval of enterprise development plan and encouragement of the conversion of business households into companies; maintained 100% of online business registration applications and at the same time ensuring the handling of relevant administrative procedures within 3 days (except for dissolution of enterprises).

In the first six months of 2018, there were 12,100 newly established enterprises with a total registered capital of VND 124 trillion, down 3% in quantity but up 31 % in capital against the same period last year, and 1,940 re-operating enterprises, down 1.5% over the same period last year.

Regarding the target of administrative reform, according to Hung, the target has been further promoted. The city has adopted simplified procedures for 61 administrative procedures in seven areas of state management. Hanoi is the first province / city to promulgate regulations on the implementation of the single window mechanism connecting with public non-business units, enterprises and cooperatives providing public services.

Regarding the state budget revenues, from the beginning of the year, the city has focused on directing the synchronous implementation of solutions to increase budget revenues, especially tax debts and debts from land use levies.

Accordingly, state budget revenue in the first 6 months was estimated at VND 120 trillion, achieving 50.4% of the estimate, up 19% over the same period last year; Of which, revenue from crude oil was VND 1.5 trillion, accounting for 80.2% of the estimate, up by 23.7%; domestic revenue was VND 111.2 trillion, accounting for 51.4% of the estimate, up by 21.9%; revenue from import-export activities was VND 7.3 trillion, accounting for 36.6% of the estimate, equal to 87.1% of the same period last year. The decline in import and export revenue is due to the impact of some major policies which took effect from 2018.

In the last 6 months of 2018, in order to fulfil the tasks of state budget revenue and expenditure in 2018 at the highest level, the city will focus on accelerating the task of state budget collection in the city, paying special attention to the recovery of tax arrears and, striving to complete the assigned budget revenue.

Implementing the state budget expenditure management in a strict, thrifty and efficient manner and in accordance with regimes and policies prescribed; managing the state budget in active and effective manner, ensuring the social security and budget balance at all levels; speeding up the disbursement of investment capital for capital construction, raising the efficiency of the use of investment capital; reviewing and arranging tasks which are not really urgent; and minimizing the organization of conferences, festivals, seminars and foreign missions.

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Regarding PPP projects, the City has approved the feasibility study report for 1 project, granted the investment license to two projects, bringing the total PPP projects to 12 with a total investment of VND 28.4 trillion.