Hanoi reports 3.27-percent GRDP growth in Q1

Hanoi (VNA) – Hanoi posted an increase of 3.27 percent in Gross Regional Domestic Product (GRDP) in the first quarter of 2020 – the lowest in recent years, according to the municipal Statistics Office.

This was attributed to impact of the ravaging COVID-19 pandemic.

The agro-forestry-aquaculture sector saw a decrease of 1.17 percent, while the industry-construction and service fields respectively rose by 5.46 percent and 3.2 percent, the office said.

In the reviewed period, retail and service revenue in the capital city totaled 135.7 trillion VND (over 5.7 billion USD), up 2.3 percent year-on-year. Meanwhile, its export turnover reached 2.74 trillion USD, 18.1 percent lower than the figure posted in the same period last year.

Tourism, transportation, accommodation and catering services; processing and manufacturing industries; import and exports and a number of other service sectors recorded sharp declines.

As much as 63 trillion VND of development investment was disbursed in the period, representing a yearly increase of 5.2 percent.

The capital city attracted 646.4 million USD in foreign direct investment (FDI), including 389 million USD from 170 new projects and 36 with added capital, and 257.4 million USD in capital contribution to buy shares.

Hanoi is now home to 6,102 FDI projects with a total registered capital of 42.75 billion USD, of which 26.5 billion USD has been disbursed./.