Hanoi authorities express support for FIEs

A conference on resolving the difficulties facing foreign-invested enterprises (FIEs) in Hanoi during Covid-19 was held on October 19 and attended by city authorities and business leaders.

Authorities affirmed that the city will support FIEs during this turbulent time in order to boost future development.

In the first nine months of 2021, Hanoi received $1.28 billion in newly-registered capital from foreign investors, despite the effects of Covid-19. “This is solid proof that Hanoi’s investment environment is safe, attractive, and stable for foreign businesses and investors,” said Mr. Dinh Tien Dung, Secretary of the Hanoi Party Committee.

City leaders spoke of the severe impact of Covid-19 on Hanoi’s socio-economic status, with business and production activities being stopped and supply chains disrupted. Trade in goods and services and travel by experts, foreign investors, and international organizations also faced difficulties.

Speaking at the conference, Mr. Nguyen Hai Minh, Vice President of EuroCham, touched on the reopening of flights to and from Hanoi and the reopening of schools. He suggested that businesses be more active in pandemic prevention, and that the city pay more attention to tax regulations and refunds, land planning, and human resources.

Mr. Chu Ngoc Anh, Chairman of the Hanoi People’s Committee, said the city has reviewed nearly 250 recommendations from FIEs. Authorities are committed to removing difficulties and supporting businesses to accelerate breakthroughs in the future.

The city encourages businesses to continue to report on difficulties and obstacles and suggest plans to overcome the difficulties, thus gradually regaining production momentum and growth.