The figures were released at the 7^th conference of the Hanoi Municipal Party Committee which opened in the capital on April 4.

Accordingly, progress was made in administrative reform and domestic and foreign investment attraction. The city licensed 52 foreign direct investment projects and approved operational projects aiming to increase additional capital by a total of US$270 million.

In his address, Hanoi’s Party Secretary Pham Quang Nghi asked delegates to focus on major policies to make the best of opportunities and overcome challenges facing the city after Vietnam’s entry to the World Trade Organisation (WTO).

According to Mr Nghi, in the post-WTO period, Hanoi lacks experience in operating the market economy; several kinds of markets are in their infancy; and the development quality and competitive edge of the economy are still low, while the socio-economic and environmental infrastructure and quality of human resources fail to meet its expectations. In addition, the business competitive capacity is limited and the city also lacks key competitive commodities and services.

Delegates discussed major measures to fulfill tasks set for 2007, including accelerating administrative reform, socialising investment activities and speeding up the planning and construction of key projects in the lead up to the 1,000^th anniversary of Hanoi. They also underscored the need to enhance information dissemination and make thorough preparations for the upcoming election of deputies to the 12^th National Assembly.