HCMC backs household business upgrades to firms

Monday, 10/04/2017

Authorities of HCMC will streamline procedures for household businesses to upgrade themselves to companies as part of a broader plan to have 500,000 enterprises registered citywide in 2020.

The city will cover all fees for enterprise registration and conditional business licenses, help household businesses with tax code registration procedures, provide advice on trademark registration, create favorable conditions for enterprises to borrow from banks at low interest rates and support their sales on the domestic market.

The city encourages household businesses with annual revenue of more than VND5 billion and more than 10 staff to be registered as enterprises. The effort began at three wholesale markets in the city from March.

Theo Saigon Times

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