Deputy Director of the HCMC Department of Science and Technology Nguyen Ky Phung affirmed that for many years, the supporting programs run by the municipal authorities have achieved impressive results in establishing cooperation among partners.
He reported that more than 90 percent of scientific – technological missions were to answer businesses’ demands on upgrading equipment and manufacturing lines, especially in the industries of mechanics – automation, electronics and information technology, food processing, chemical processing, and rubber processing. There have been 116 projects carried out since 2016, attracting an investment capital of VND204.77 billion (approx. $8.8 million), 79 percent of which is from the state budget. 95 new products and devices were created from these missions to transfer to businesses in need.
Mr. Phung added since October 30, 2015 when the investment stimulus program was launched as a result of Decision No.50/2015/QD-UBND, the HCMC People’s Committee has approved 281 projects, including 17 in the hi-tech field.
In the above 4-part connection, the State Bank of Vietnam – the HCMC Branch affirmed that in the past 5 years, it has offered various kinds of support such as running the programs ‘Connection between Banks and Businesses’, ‘Loans to Stabilize the Market’, ‘Loans for Businesses in Export Processing and Industrial Zones’, Loans to Stimulus Investment’, ‘Loans to Develop Rural Areas’ to financially ease businesses’ difficulties. These loans are effective aiding methods as they have low loaning rates, longer debt paying periods, and strong links with other supporting policies of the government.
Standing Vice Chairman of the HCMC People’s Committee Le Thanh Liem concluded that a close connection among the four partners is extremely necessary to identify the city’s potentials as well as limits in order to introduce more effective policies in the future. He also suggested that the four partners should carefully monitor the market and new policies to better contribute to the socio-economic development of the city.