Hanoi ranks third in FDI attraction

Hanoi is one of the three leading localities nationwide in foreign direct investment (FDI) attraction, accounting for 17.3 percent in the number of projects and 9.32 percent in the amount of registered FDI in the country, said the Ministry of Planning and Investment.

The city’s economy has recorded stable development and remarkable results since Vietnam joined the World Trade Organisation (WTO) in 2007.

At present, more than 2,000 local enterprises are engaging in import-export activities in over 200 countries and territories. The city’s average gross regional domestic product (GRDP) growth reached 9.85 percent during 2007-2014.

Hanoi’s economic structure saw positive changes with the proportion of service and industry-construction sectors increased, while that of agriculture sector declined.

The municipal authorities have paid special attention to assisting businesses in accessing capital sources, while promoting administrative reform, especially in tax procedure, in order to facilitate enterprises’ production and business activities.

While working with municipal leaders on September 3, Deputy Head of the National Assembly's Economic Committee Nguyen Van Phuc spoke highly of recent achievements made by the city.

He asked the local authorities to focus on building more trade names while fully tapping existing ones, and upgrading infrastructure facilities, thus effectively serving the city’s integration.

According to statistics from the municipal People’s Committee, by the end of 2014 , Hanoi attracted 3,169 FDI projects with total investment of 26.3 billion USD.

As of June 20 this year, the city was home to 3,206 foreign-invested projects with a combined investment capital of more than 24 billion USD.-VNA