Monday,  Oct 26, 2020,06:03 (GMT+7) 0 0
Hanoi attracts US$17.6 billion for 229 projects
The Saigon Times
Saturday,  Jun 27, 2020,16:28 (GMT+7)

Hanoi attracts US$17.6 billion for 229 projects

The Saigon Times

Prime Minister Nguyen Xuan Phuc (4th, R) points to a model on display at the "Hanoi 2020-Investment and Development Cooperation" conference on June 27 - PHOTO: VNA & VGP

HCMC – Hanoi City is going to present investment certificates for 229 projects with a total value of US$17.6 billion and sign 38 memoranda of understanding worth a combined US$28.6 billion, according to the Tuoi Tre Online website.

Speaking at the “Hanoi 2020-Investment and Development Cooperation” conference held on June 27, Secretary of Hanoi Party Committee Vuong Dinh Hue said that the capital city contributes 16.7% of the country’s gross domestic product and some 19% of the State budget.

The conference is an opportunity to bolster the relationship between local authorities, investors and businesses as well as units bringing foreign investors to the city and to Vietnam. It is being held after the Covid-19 pandemic has effectively been controlled to reiterate that Hanoi is a safe and attractive destination for investors, Hue stated.

Through the event, Hanoi is expressing its determination to take the lead in the post-Covid-19 economic recovery and development. It welcomed 1,850 delegates and leaders from 25 centrally-run cities and provinces, key economic zones in the north, ambassadors and representatives of diplomatic corps and others.

According to Hanoi City’s Chairman Nguyen Duc Chung, the city has gone 72 days without new Covid-19 infection cases in the community. All social activities are also returning to the new normal.

Despite the adverse impacts of the pandemic, Hanoi reported a gross regional domestic product growth rate of 3.39% in the first six months of 2020. There were 12,650 new enterprises established, with total capital of VND175 trillion, up 9% over the same period last year.

During the January-June period, the city attracted US$4 billion in foreign direct investment capital. Besides, its tax collection met some 50% of this year’s estimate.

Chung also announced a portfolio of 282 projects that the city is seeking investors for with a  total value of VND483 trillion.

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