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Monday, May 16, 2022

Hanoi attracts US$575 million in foreign investment in Q1

By Van Ly

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HANOI – Hanoi City attracted some US$575 million in foreign investment between January and March, said Do Anh Tuan, director of the municipal Department of Planning and Investment.

Tuan told a press briefing on the city’s socioeconomic performance in the first quarter of the year on April 6 that of the amount, newly registered capital and that from operational projects amounted to US$209.3 million.

New investments through capital contributions to companies in the country and stake acquisitions reached US$365.4 million.

The city saw 6,250 new firms enter the market, with total pledged capital of VND95 trillion, while as many as 4,500 enterprises resumed their operations from January to March.

The city’s budget revenue in the first quarter amounted to over VND102.4 trillion, up 19.6% year-on-year, Tuan said, adding that its budget spending totaled some VND14.8 trillion, up 17.6% year-on-year.

Hanoi City’s gross regional domestic product (GRDP) increased 5.83% in the first quarter.

The city also targets its GRDP growth at 7%-7.5% in April and the second quarter of 2022 and expects to control inflation under 4%.

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