23/04/2020 09:51 GMT+7 Email Print Like 0

Hanoi prepares scenarios to foster post-pandemic socioeconomic development

Hanoi authorities have prepared scenarios to promote socioeconomic development after the COVID-19 pandemic is brought under control.

The first scenario envisions an early containment of the pandemic, the city’s economy will regain its growth pace in Q2 and accelerate in the last two quarters, resulting in a growth rate of 7.5 percent for the entire year and fulfilling the set target.

In the second scenario, the pandemic is put under control in the third quarter, but economic growth continues to be affected, resulting in a growth rate of 6.42 percent for the year, not meeting the target for this year.

In the third scenario, the pandemic continues to the end of the year and the year’s growth is projected at only 5.34 percent (the forecast growth rate for the country is 5 percent).

Director of the city’s Department of Planning and Investment Nguyen Manh Quyen said policies to support enterprises, especially those that are newly-established, and promote production and business activities in the city are being widely implemented, contributing to fostering socioeconomic development and containing the outbreak of the virus.

Solutions primarily focus on maintaining and restoring production in industries of potential, including the production of items serving COVID-19 prevention and control efforts such as medical equipment, face masks, cleaning chemicals and disinfectants, ventilators, testing kits, and pharmaceuticals.

At the same time, the city has given due regard to boosting agricultural production, information and communications, e-commerce, e-payments, and online education.

Apart from measures to remove obstacles facing local enterprises and ensure social security, the capital has also accelerated administrative reform through promoting the application of IT and expanding online public services.

City authorities have also directed commercial banks to support enterprises through providing loans, rescheduling debt repayments, and cutting interest rates. 

Credit institutions in the city have launched preferential credit programmes and applied flexible interest rate policies to make it easier for businesses to access capital for production and business amid the pandemic.

Hanoi has also approved an industrial cluster development plan to 2020 and vision to 2030, which aims to develop 159 industrial clusters on a total area of 3,204 ha.

Preferential mechanisms and policies have also been applied to help enterprises invest in research and technological innovation.

In particular, the capital has introduced a scheme to support startups to 2020 and another to support innovation and startups in the 2019-2025 period./.