HCM City Allocates VND3 Trillion for Supporting Enterprises
The Ho Chi Minh City People’s Committee plans to allocate VND 3 trillion (US$135 million) to support local enterprises as part of measures to implement a government resolution on supporting and developing enterprises.
VND 1 trillion (US $45 million) will be used to fund start-up companies while the remaining VND 2 trillion (US $90 million) will be used to help enterprises update their technologies and equipment.
Over the next four years, Ho Chi Minh City plans to have at least half a million enterprises, nearly double the current number of 281,000.
The city expects the private sector to contribute about 65 per cent of its total economic output and 64 per cent of total social investment by 2020.
In addition to financial support, HCMC will implement a range of measures including publicising procedures and projects, and supporting household businesses to transform into enterprises.
HCMC Director of Planning and Investment Su Ngoc Anh said the department will work with districts to develop specific plans to help enterprises participate in value chains both in and outside of the city.
NDO
Vietnamese
