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VietNamNews

Capital helps companies cut through the red tape

Update: June, 10/2013 - 11:50

HA NOI (VNS)— The municipal People's Committee has established a steering board to help enterprises deal with administrative procedures in the latest move to help struggling firms recover.

The board has six working groups formed from relevant agencies and sectors. The director of the planning and investment department will lead a group promoting investments, speeding up construction projects and completing policies to enhance investment efficiency.

The finance department director is responsible for financial support and land rent reduction, while the director of the State Bank's local branch is in charge of boosting lending and solving bad debts.

The taxation department head will address tax procedures, the deputy director of the construction department will focus on property market problems and the industry and trade department director will deal with reducing inventory and cutting production costs.

The People's Committee assigned the planning and investment department to create a hotline to answer businesses' queries, to which the steering board would have to respond within five to seven working days.

The committee asked the board to hold monthly meetings with enterprises and submit regular reports about their situation. — VNS


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