Hanoi tops the country in attracting FDI in 2018

Hanoi has lured approximately US$6.5 billion in foreign direct investment since the beginning of this year, making it the country’s largest six-month FDI attractor for the first time.

The information was announced at the 16th meeting of Hanoi city Party Committee, which opened on November 28, to review the city’s socio-economic development in 2018 and the 2016-2018 period in general.

The meeting was chaired by Politburo member and Secretary of Hanoi city Party Committee, Hoang Trung Hai.

Another highlight in the city’s economic development in 2018 is the sharp increase of export turnover, with a 21.6% increase in export growth as compared to last year, much higher than the set target of 7.5% – 8%.

In the 2016-2018 period, the city’s export turnover recorded an average growth rate of 10.76%, higher than that of the five-year period from 2011 to 2015 (5.5%).

According to a report released by the municipal People’s Committee, Hanoi met and surpassed all 20 development goals set for 2018, with outstanding outcomes being seen in export turnover, malnutrition reduction, clean water provision in rural areas, and health insurance coverage, among others.

Notably, three out of the 20 goals for the 2016-2020 period have been realised ahead of schedule, including the number of communes recgonised as new rural areas, the number of public schools that meet national standards, and poverty reduction.

However, the city has faced obstacles in realizing two goals in urbanization and public transport.

Source: ven.vn