Hanoi attracts nearly 1.7 billion USD in FDI in 2022

Hanoi (VNA) – Hanoi attracted 1.69 billion USD in foreign direct investment (FDI) last year, still among the localities leading the nation in this field.

The figure represents a year-on-year rise of 10.3%, according to the city’s Statistics Office.

In the year, there were 365 newly-registered projects totaling 233 million USD, and 202 projects that had their capital adjusted with a combined investment of 834 million USD. Foreign investors also spent 625 million USD on contributing capital to and purchasing shares of existing ones.

Foreign capital was mainly poured into import-export activities, goods distribution, construction, information technology, telecommunications, processing, and manufacturing.

According to the Hanoi Promotion Agency (HPA), after more than two years of disruptions caused by the COVID-19 pandemic, in 2022, the city implemented a lot of trade promotion activities both inside and outside the country, with priority given to such key markets as Japan, the Republic of Korea, Singapore, Taiwan (China), China, the US and the European Union.

Most recently, a working delegation led by Vice Chairman of the municipal People’s Committee Nguyen Manh Quyen paid visits to the US and Belgium to step up trade promotion with traditional partners and seek new ones.

For the 2021-2025 period, Hanoi has set a target of attracting 30-40 billion USD in foreign investment, and disbursing from 20 to 30 billion USD.

The city is giving priority to projects in urban infrastructure, smart city building, supporting industry, information technology, tourism, finance-banking, human resources training, and hi-tech agriculture./.