Hanoi leads FDI attraction in first nine months

Hanoi lured nearly US$6.27 billion in foreign direct investment (FDI) in the first nine months of 2018, up 5.4 times over the same period last year and exceeding the yearly target by 64 per cent.

Hanoi has led the nation in terms of FDI attraction this year. Of the total, $5.17 billion was poured into 417 new projects, while $661 million was added to 116 existing projects and about $431 million was contributed by 543 foreign investors to domestic firms.

At the same time, 70 non-budget invested projects were implemented with combined capital of VND163 trillion (US$7 billion), while 41 others received an additional VND86 trillion.

Feasibility reports from four public-private partnership projects were approved with total investment of VND14.42 trillion, while the city also issued investment licences to four new projects worth VND13.94 trillion.

According to director of the Department of Planning and Investment Nguyen Manh Quyen, Ha Noi’s gross regional domestic product (GRDP) per capita in the first nine months of 2018 recorded 7.17 per cent growth.

The city’s export turnover grew sharply to an estimated $10.51 billion from January to September, a year-on-year increase of 21.6 per cent.

The tourism industry also achieved impressive results with 19.7 million visitors, up 9.2 per cent year-on-year, including 4.3 million international visitors, up 20 per cent.

Agricultural production in the first nine months performed well. The price of agricultural products remained stable in the first half of the year and slightly increased in the third quarter, which facilitated production and business, Quyen added.

During the reviewed period, the capital created jobs for 151,000 workers, up 18.8 per cent over the same period last year.

However, the authorities also pointed out some shortcomings, such as traffic congestion and flooding. The progress of wastewater treatment plants in industrial clusters remained slow, and the rate of disbursement for development had failed to meet targets.

Source: vir.com.vn