Business

Hanoi economic growth hits a six-year peak

Despite failing to hit the yearly target of 8.5-9 percent, Hanoi’s economic growth in 2016 has hit its highest level in six years, reaching 8.03 percent, a municipal official said on December 5.
Hanoi economic growth hits a six-year peak ảnh 1Bulb manufacturing line of Rang Dong Thermos and Light Bulb Joint Stock Company (Photo: VNA)

Hanoi (VNA) - Despite failing to hit the yearly target of 8.5-9 percent, Hanoi’seconomic growth in 2016 has hit its highest level in six years, reaching 8.03 percent,Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said onDecember 5.

Theservice sector grew by 8.1 percent while industry-construction and agriculturewitnessed increases of 8.8 percent and 2.21 percent, respectively.

Thestatistics were presented at the third session of the 15th Hanoi People’sCouncil from December 5-8.

Accordingto Toan, over the past year, an unprecedented number of new enterprises hadbeen established.

Foreign-investedcapital on projects reached 2.8billion USD, increasing 2.6 times compared tolast year. Total social investment was estimated at 277.95 trillion VND (12.3 millionUSD), a rise of 10 percent over the previous year.

Thecity has finished or nearly finished key transport projects such as Ring RoadNo.2 running through Nhat Tan-Cau Giay, Ring Road No.1 through O Dong Mac-NguyenKhoai, the Long Bien district centre project and accelerated railway projects.

Inthe report reviewing socio-economic tasks in 2016, Deputy Chairman Toan saidthat the process had various weaknesses, including difficulties of business andproduction, leading to closure of firms.

Industrygrowth speed has been slowing down. Pressing issues include pollution atindustrial parks and traditional craft villages, fires, explosions and trafficaccidents.

Thesession approved a resolution on 2017 socio-economic development plan. GrossRegional Domestic Product (GRDP) is hoped to reach 8.5 to 9 percent. GRDP percapita is targeted at 86 million VND to 88 million VND (3,820-3,900 USD).Export-import turnover is aimed at 4 to 5 percent.

Healthinsurance coverage is hoped to reach 82.8 percent.

Theplan also expects all households in urban areas to have water for daily use.

Tofulfill these targets, the meeting agreed on tasks, including improving thebusiness and investment climate as well as provincial competitiveness index.

Totackle pollution, by 2020, 117 industrial production bases in 12 districts willbe moved out of the inner city, Phan Hong Son, Director of the municipal JusticeDepartment said.

Politburomember Hoang Trung Hai, Secretary of the municipal Party Committee, said that“The year of administrative discipline” has been selected as the main topic ofthe city’s work next year. It aims to beef up administrative order andstrengthen the role of public servants in office, residency and public areasand spread the spirit to citizens to tighten social discipline.

During the four-day gathering, the council willdiscuss and approve 15 important resolutions related to socio-economics,defence and security, the city’s State budget spending in 2017, key projectsand middle term public investment next year.-VNA
VNA
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