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Hanoi’s development investment increases by 8.5% year on year

The development investment in Hanoi in the first quarter of 2024 increased by 8.5% to 86.6 trillion VND (3.48 billion USD) compared to the same period last year, the municipal People’s Committee has announced.
Hanoi’s development investment increases by 8.5% year on year ảnh 1At the construction site of the flyover at Mai Dich - Ring Road No. 3 intersection. (Photo: VNA)

Hanoi (VNA) – The development investment in Hanoi inthe first quarter of 2024 increased by 8.5% to 86.6 trillion VND (3.48 billion USD) compared to the same period last year,the municipal People’s Committee has announced.

Of the total investment, 31.4 trillion VND was from the State, 48.7 trillion VND from the non-State sector and 6.5 trillion VND fromdirect foreign investment (FDI), which saw year-on-year increases of 10%, 8.2% and4.4%, respectively.

By investment categories, 60.6% of the city’s developmentinvestment in the first quarter of this year was channeled into basic construction. Funding for purchasing fixed assets for production; major repairsand asset upgrades; additional working capital and other investment capitalalso increased.

In March, Hanoi licenced 15 new FDI projects with total registeredcapital of 33.1 million USD. In addition, 14 operating projects were permitted to increase by 12.5 million USD in total. Nine foreign investors contributed capital andbought shares with combined investment of 1.8 million USD.

In the first quarter of 2024, the city attracted 946.8 millionUSD in FDI. Of that, 42 new projects were licenced with total capital of 902.6million USD; 31 projects increased their investment by 21.6 million USD;foreign investors contributed capital and purchased shares worth 22.6 millionUSD.

Besides activities toattract investors, Hanoi has paid much attention to speeding up infrastructuredevelopment projects, particularly transport ones such as Ring Road No. 4 runningthrough Hanoi, Hung Yen and Bac Ninh; Hoang Cau-Voi Phuc section of Ring RoadNo. 1; upgrading Ba La-Xuan Mai section of National Highway No. 6; and Tay ThangLong route from Vo Chi Cong street (Tay Ho district) to Son Tay township./.

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