Capital city prioritises hi-tech, clean-energy projects

Hanoi will give priority to attracting projects with high technologies, clean energy and high-quality services, Mr. Nguyễn Doãn Toản, deputy chairman of the municipal People’s Committee, said on Thursday.

At a meeting with British Business Group Vietnam, Mr. Toản said the capital city was calling for investment from the United Kingdom in banking and finance, insurance, education and training, tourism, trade, and information technology.

Participants at the conference discussed potential and investment policies of Hanoi as well as cooperation opportunities with British businesses.

According to Steph Lysaght, deputy head of Mission at the British Embassy in Hanoi, the city’s competitiveness had improved significantly during the past 20 years, which would help attract more British firms in trade and business cooperation.

He said to attract more foreign investment, the capital city should continue to speed up the simplification of customs and tax procedures and improve transparency.

According to Mr. Toản, British investors have registered to pour capital worth a total of US$416.7 million into 66 projects in Hanoi, ranking 13 among countries with investments in the capital city.

The British investments are mainly in education and training, science and technology, and the manufacturing industry.

Hanoi’s exports to the United Kingdom reached $524 million in 2016, or 4.9 per cent of the capital city’s total export revenue. The city imports from the United Kingdom touched $142 million, or 0.6 per cent of its import value

Hanoi was the third-largest destination for foreign investment among 63 cities and provinces in Vietnam with $26.6 billion registered capital invested in more than 4,160 projects.

Source: Vietnam News

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