HCM City aims to become leading investment destination in region

A corner of Ho Chi Minh City (Photo: VNA)

Ho Chi Minh City is applying measures to become a leading destination in the region in investment, renovation, and science-technology in 2025, creating a fair and safe business environment for businesses and investors.

Under a new plan issued recently by the municipal People’s Committee for the 2021-2025 period, HCM City will continue to improve the Provincial Competitiveness Index (PCI) while seeking measures to improve the investment and business environment towards easier, more transparent and fair orientations.

The city expects to become one of the five leading localities in PCI by 2025.

Meanwhile, HCM City aims to enter the list of top localities nationwide in socio-economic management quality, with rapid digital transformation.

To this end, the municipal People’s Committee has introduced a number of measures, including strengthening the leadership and direction of improvements to the city’s competitiveness as well as the local business and investment environment, and building plans to speed up administrative reform.

To increase the PCI component indexes, the city targets that at least 93 percent of business registration requests and 40 percent of investment licence issuance will be processed online.

It will also enhance the operational efficiency of the centre for land reserve development to prepare land for investors.

Along with making public all processes regarding administrative procedures to make it easier for people and businesses to follow, the city will also work to reduce the time needed for processing and improve public service quality.

The municipal People’s Committee has assigned the Department of Planning and Investment to cooperate with the Vietnam Chamber of Commerce and Industry (VCCI) to design and implement a set of criteria to assess the capacity of departments, sectors, and localities around the city in applying measures to improve the business and investment environment and the PCI in the 2021-2025 period./.