This was said by the Chairman of the Hanoi Municipal People’s Committee, Nguyen The Thao, at a meeting on November 25 with businesses operating in the city.

Businesses agreed that the city leaders are always ready to help them tackle difficulties, however, they still face an uphill battle due to tighter control on credit and high interest rates that hinder their access to loans.

In addition, Vietnamese producers need policies to support them in producing high quality goods to attract domestic consumers. They need financial aid to move their facilities to the outskirts of the city, pay costly mortgage taxes, conduct research to develop new products and purchase land to build commercial centres.

There is also a shortage of living places for workers at some industrial zones in the city.

Chairman of the Thien Phu Group Board of Directors, Nguyen Son Hai, proposed that the city help businesses obtain bank loans more easily and reform administrative procedures to save time and money.

Tran Van Quang, Director General of the Dong Anh Electrical Equipment Manufacturing Joint Stock Company (EEMC), said the Government should establish concrete policies to encourage Vietnamese people to buy and use Vietnamese goods.

He suggested the Ministry of Planning and Investment change its regulations on bidding so domestic contractors can compete for the large tenders that now force investors to buy products from foreign suppliers.

The Hanoi Mayor said the city’s rapid 10.13 percent growth over 2010 was largely attributed to the contributions by businesses.

The city pledged to review and amend regulations to create more favourable conditions for its citizens and businesses, said Mr Thao.

He urged the State Bank of Vietnam to adjust interest rates making it easier for businesses access credits with priority given to agriculture, rural areas, support industries and export products.

Mr Thao also asked businesses to continue apply modern technologies to improve their capacity, and join hands with the city to surmount their difficulties and maintain production.

Businesses should also cooperate closely with each other for mutual benefit and development, he added.