The Hanoi People’s Committee has requested the elimination of at least 30% of unnecessary business conditions and the reduction of administrative processing time by the same margin in a move to boost economic growth, according to a report from the Vietnam News Agency.

In a document issued on March 11, the committee stressed the need to mobilize all economic sectors, businesses and citizens to engage in socio-economic development, contributing to national growth. All institutional frameworks, mechanisms, and policies must be aligned with the objective.

The city will focus on reforms that stimulate both supply and demand in accordance with the country’s economic conditions, making contributions to positioning Vietnam among the top three ASEAN countries regarding investment environment within the next two-three years.

In the meantime, the city will pen realty policies to attract investment while transforming urban areas into growth engines through high-quality and harmonious infrastructure development. Local authorities are considering the establishment of a housing fund to build affordable houses in major urban areas.