Hanoi lures US$513 million in foreign investment in Q1

Hanoi attracted more than US$513 million in foreign investment in the first quarter of this year, according to the municipal Statistics Office.

During the reviewed period, the capital city lured 62 new projects with combined investment of US$24.9 million, while 28 operational projects  registered to increase their capital by US$122.8 million.

Foreign investors contributed capital and purchased shares worth US$365.4 million, the office said.

The number of newly-established enterprises in the capital city stood at 5,965 with accumulative registered capital amounting to VND63.5 trillion (US$2.78 billion), up 2% and 4%, respectively, as compared with the same period last year.

As many as 849 firms dissolved and 5,174 others suspended their operations, while nearly 3,940 resumed their operations in the quarter.

Hanoi earned almost US$3.6 billion from exports in the three months, representing a year-on-year rise of 6.1%, of which over US$1.93 billion came from the domestic sector, up 7.9%; and the remainder was from the FDI sector, up 4%.

The total retail sales of goods and services reached VND161.5 trillion, a rise of 9.1% from the corresponding time last year.

The capital city’s gross regional domestic product (GRDP) also grew by 5.83% year on year, much higher than the figures recorded in many other cities and provinces, the office said, noting that Hanoi’s industrial production also expanded by 5.3% year-on-year.

Between January and March, the city’s development investment was estimated at VND76 trillion, a year-on-year increase of 7.8%. Of the amount, State capital reached VND26 trillion, non-State capital, VND45 trillion and FDI, VND5 trillion.

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