Southern city plans to improve business climate by 8-18 grades

Specifically, the city will focus on bettering business climate indicators to gain 8 to 18 grades, jumping on the World Bank’s rankings in 2018, including strong improvement of low-ranking indexes such as business start-up by at least 40 grades, settlement of contract disputes by 10 grades, and settlement of business bankruptcy by 10 grades.

It will also complete the abolition and simplify 50% of investment and business conditions, and propose the abolishment of some conditional businesses according to the Investment Law.

The southern hub plans to reduce by at least 50% the list of goods and products which must be inspected. For management, it will decrease the proportion of batches of imported goods in the customs clearance period from 25-27% to less than 10%.

Ho Chi Minh city will hasten the application of information technology in administrative procedures and implementation of online public service; striving to have 30-40% of administrative procedures involving people.  

The competitive capacity of the tourism industry will be improved by 10 grades to become a spearhead economic sector, while the city will gradually reduce logistics costs to about 18% of GDP and improve logistics efficiency index by 10 grades./.