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NEWS UPDATES Asean Affairs        14 January 2011

HCM City promises to help businesses

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Businesses can look forward to more support from HCM City (Saigon) authorities in 2011, a top city official has said.

The city would continue the stimulus programme to support companies and add more value to products, Nguyen Thi Hong, vice chairwoman of the municipal People's Committee, told the Sai Gon Giai Phong (Liberated Sai Gon) newspaper.

Support will include a credit guarantee fund for small- and medium-sized enterprises, business consulting and a system for businesses to send their complaints to the government," Hong said. She said the city would continue to promote investment in infrastructure, training for high-quality human resources, strengthen trade promotion and tap potential export markets. In 2010, HCM City had a GDP growth of 11 percent and consumer price index (CPI) was kept at 9.58 percent, more than 2 percentage points less than the national figure.

"We have implemented the price stabilising programme since the beginning of the year with crucial commodities, including rice, sugar, meat, egg, seafood and fruit to keep the city's CPI at the lowest level," Hong added.

In preparation for 2011, the city started asking industries and sectors in September to set up plans to control the consumer price, she said.

The city would also encourage local product consumption and create a better business environment by strengthening market watch mechanism.

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