Hanoi attracts $860 million in FDI in five months

The capital city of Hanoi attracted $860 million in foreign direct investment (FDI) in the first five months of 2018, said director of the municipal Department of Planning and Investment Nguyen Manh Quyen.

Of the amount, 529.2 million USD was registered to invest in 225 new projects, over $131 million was added to 48 existing projects and $199.52 million was invested in domestic companies’ stakes.

Quyen said the city has carried out 27 non-state capital projects with combined investment of VND27 trillion ($1.19 billion). In addition, 13 projects were permitted to increase investment capital by VND1.98 trillion ($87.2 million).

In the first five months of 2018, Hanoi approved another public-private partnership (PPP) project with investment of almost VND1.41 trillion ($62.1 million), bringing the total number of PPP projects to 12 with total investment of more than VND28.33 trillion ($1.24 billion).

During the reviewed period, 9,420 businesses were established in the city, with combined registered capital of VND97.5 trillion ($4.29 billion), down 1 per cent in the number but up 36 percent in the volume of investment. The figure raised the total number of enterprises in Hanoi to 241,000.

Last year, the capital city drew up to $3.4 billion in FDI.

Source: vir.com.vn