To do this, the municipal authorities have identified main tasks for the 2006-10 period. They include improving the production, business and investment environment, effectively mobilising and using resources for development, developing key competitive products and industries, expanding markets and boosting exports.

The city has co-ordinated with ministries to complete regulations related to trade and investment to comply with World Trade Organisation (WTO) requirements.

It focuses on simplifying administrative procedures in business and production, such as giving land use and house ownership certificates and investment licenses.

By 2007, all State administrative offices in Hanoi will apply the 9001:2000 quality management system to streamline work for local residents, organisations and enterprises.

In the next five years, the city will invest more in infrastructure development for a civilised and modern urban centre. It will build 20-30 trade centres, a trade and financial centre in the urban area west of West Lake, and a centre for trade, services and exhibitions in the northern part of the Red River Delta. The city will also build a 65-storey block of apartments for lease and 5,000 three-star standard hotel rooms.

The city will encourage and help foreign direct investment businesses while co-ordinating with the State Securities Commission to build the Hanoi Stock Exchange into an over-the-counter market and further develop the stock exchange.

The city has set a target of obtaining an annual growth rate of 11-12 percent in the next five years (2006-2010), in which industry and services sectors are expected to grow by 12.5 percent and 11.5 percent respectively, while average GDP per capita is estimated at US$2,500 by 2010. It aims to attract US$4-5 billion in foreign investment capital and increase its exports by 15-19 percent.

All enterprises will apply international-quality management systems. It will raise the number of enterprises with registered trademarks and reputation in domestic and regional markets to 300.

However, managers point out the city’s weaknesses, including poor business technology and management ability. Enterprises lack production and business strategies, as well as knowledge of international laws.

Vietnam is preparing to join the WTO. Some enterprises have recognised opportunities and are quickly preparing for integration, while some are still indifferent and rely too much on the State.