Saturday, December 4 2021


Hà Nội to set aside more than $41 million to support SMEs

Update: January, 12/2021 - 09:02


Workers at a garment factory in Hà Nội. — Photo

HÀ NỘI — Hà Nội will allocate VNĐ957 billion (more than US$41 million) to assist small and medium-sized enterprises (SMEs) in 2021-25 as part of a supporting programme for SMEs approved by the municipal People’s Committee late last year.

Under the programme, Hà Nội targets to have 150,000 newly-established enterprises in the next four years or an average growth of business creation at 10 per cent annually, equivalent to 30,000 newly-established firms.

In 2021-25, SMEs in Hà Nội are expected to add 1.5 million jobs while making up more than 40 per cent of the city’s gross regional domestic product and 25 per cent of its total export turnover.

Per the programme, Hà Nội also aims to provide support to at least 500 SMEs in the manufacturing and processing sector, especially in IT, industrial electronics, high-tech farming, and agricultural production, among others.

The programme also outlines three main tasks for local authorities, including providing overall assistance to SMEs, supporting business households to formalise into enterprises and helping SMEs integrate into value chains while drafting preferential treatment for enterprises.

Meanwhile, the city will speed up administrative reform and facilitate the application of online public services while creating favourable conditions for local SMEs to enhance their presence in the domestic market.

Last year, Hà Nội saw the establishment of 26,441 new enterprises with a combined registered capital of more than VNĐ337 trillion. The latest addition had brought the number of operating companies in the city up to 303,646.

Nearly 6,300 enterprises resumed operation during the year, up 21 per cent year-on-year.

The city’s local departments and units have so far trimmed 91 administrative procedures in the fields of natural resources and environment.

In another move, the SME Support Centre under Hà Nội's Department of Planning and Investment has put into operation a portal to support businesses at

The portal will introduce the Government as well as the capital city's policies and programmes to support SMEs.

The portal is an address for individuals, organisations and businesses to find useful information for business activities; seek opportunities to co-operate with partners and promote products to customers; as well as seek technical and capital support from experts and investors.

This will also be the place to receive opinions from enterprises in Hà Nội on issues that need to be solved.

At the same time, it is an online address for sharing knowledge, materials, experiences, corporate governance models as references for small and medium-sized businesses to spread among the business community in the capital city.

In the future, the city vows to continue improving its business environment, sharpening its competitiveness while ensuring a fair and transparent environment for all enterprises. — VNS

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