Hanoi economy shows rosy signs in first five months
Hanoi drew 1.6 billion USD in newly-registered and additional capital from foreign direct investment (FDI) projects in the first five months of this year.
Illustrative image (Source: VNA)The figure represents a three-fold increase from the same period in 2015 and meets 78.9 percent of the target, according to Nhan Dan (People’s) newspaper.
From January to May, up to 9,367 businesses were established in Hanoi with combined capital of 74.6 trillion VND (3.36 billion USD), up 59 percent over the same period last year.
FDI worth nearly 10.16 billion USD flowed into Vietnam in the first five months of this year, an increase of 136.4 percent from the same period last year, according to the Ministry of Planning and Investment.
As of May 20, Vietnam had 907 new FDI projects with a total registered capital of 7.56 billion USD, a year-on-year rise of 155.9 percent while 425 adjusted-capital projects brought in 2.59 billion USD, up 93.3 percent from last year.
Some 5.8 billion USD was disbursed, rising 17.2 percent against a year ago.
A large amount of the investment was in the processing and manufacturing sector. The Republic of Korea remains the top investor among 45 countries and territories that invested in Vietnam in the period.-VNA
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