Comprehensive measures employed by Hanoi authorities in the first quarter of 2015 have helped the capital city reach an economic growth rate of 7.6 percent, an increase from the 6.6 percent expansion during the same period last year.

To remove production and business bottlenecks, Hanoi has focused on improving its business climate, overhauling administrative procedures, enhancing the application of information technology at State agencies and ensuring a stable electricity supply for business operations.

The municipal People’s Committee and departments along with district bodies have held a number of meetings with companies to learn about and address obstacles facing firms.

Meanwhile, surveys have been conducted at major businesses and property projects to target effective assistance to improve their performance. Companies, especially those operating in prioritised areas, also received soft loans.

Director of the municipal Department of Planning and Investment Ngo Van Quy said Hanoi has harnessed resources to attract investment from countries with good financial strength and advanced technology like Japan, the Republic of Korea, the US, and the EU members.

Major projects that have benefited from streamlined investment procedures include Gamuda, SAS Hotel, Nobble and Hanoi Westgate, he added.

From January through March, Hanoi’s industrial sector grew by 7.5-8 percent, inflation was controlled, and social welfares were ensured. The city’s State budget revenue was estimated at 46.3 billion VND (2.17 billion USD), representing a 10.6 percent annual increase.-VNA