Hanoi secures US$6.5 billion in FDI projects
The capital city of Hanoi has become the most attractive locality for foreign direct investment (FDI) in Vietnam for the first time, with total registered capital estimated at US$6.5 billion.
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| A smart urban area to be developed near Nhat Tan bridge (Photo: baodautu.vn) |
The information was announced at the 16th conference of the municipal Party Committee, which was held on November 28 to evaluate socio-economic development in 2016-2018.
In the three-year period, the city lured nearly US$13.25 billion in FDI projects, 2.12 times more than 2011-2015 and 48.6% of the amount recorded during 1986-2015.
This year, investments have focused on information and technology, manufacturing, processing, real estate and whole and retail sales, among others. Notable projects include smart city construction in Dong Anh district by Japanese Sumitomo Corporation and BRG Group, OPC drum production project of Japan’s Mitsubishi Chemical at Hoa Lac High-tech Park and Heineken Hanoi Brewery in Thuong Tin district.
Standing Vice Chairman of the municipal People’s Committee Nguyen Van Suu attributed the results to the city’s efforts to improve the business climate, remove bottlenecks for local firms and improve State management in land planning, urban order and environmental protection.
