Nguyễn Thành Phong, chairman of the People’s Committee, at a meeting yesterday on how to improve the business climate in HCM City. Photo courtesy of the Investment and Trade Promotion Centre of HCM City

HCM CITY — HCM City is reviewing the legal status of 57 delayed projects, mostly in real estate, to speed up efforts to improve the business climate in the city.

Speaking at a meeting last week, Nguyễn Thành Phong, chairman of the city People’s Committee, said the city would address problems related to the legality of these projects and seek guidance from the central Government.

“The city will do whatever it takes to resolve any problems facing businesses in a timely manner, with the aim to build a friendly investment environment for investors."

Thirty-five of 92 delayed projects in the city have already been reviewed, and they have met most of the legal requirements. That leaves 57 projects for further review.

Lê Hoà Bình, vice chairman of the People’s Committee, said: “The city has developed a draft plan to implement a resolution on improving the business environment" and will also focus on realising the “twin goal” of containing the virus while recovering economic growth. 

After 32 working sessions over the past three years, the working group has reviewed 110 projects in the city many bottlenecks have been removed.

The working group led by Phong was established in 2017 to help investors navigate regulations and modify policies were needed as part of an effort to improve the investment climate.

The group deals with investment projects within the jurisdiction of the city, studies investment proposals, ensures that projects can begin, and comes up with solutions to problems.

2021 tasks 

The city has set a range of tasks this year to improve the business climate. 

It will further administrative reform and issue policies to select potential investors in accordance with the Law on Investment, and issue regulations on bidding procedures with priority given to large urban development projects using smart urban technology. 

It will publicise a land-use plan which will include a land-price framework close to the market price, and complete regulations on electronic transactions for land. The city will also continue its digital transformation plan and e-commerce expansion.

It also plans to speed up major projects such as waste treatment projects under the PPP (public-private-partnership) model, promote online bidding, and submit a public investment plan for the 2021 – 2025 period to the People’s Council for approval.

In addition, the city will shorten construction licensing time, and publicise its master urban plan and develop a master plan for the new Thủ Đức City.

In the 2020-2035 period, it will strive to improve human resources, especially in the fields of IT, mechanics – automation, artificial intelligence, corporate governance, finance – banking, healthcare, and tourism and urban management.

The city will also propose solutions to improve access to credit and support people and enterprises affected by the impact of the COVID-19 pandemic. — VNS