Highlights in foreign investment attraction of Ha Noi

HNP - The Government's team led by Politburo member, Deputy Prime Minister Vuong Dinh Hue had a working session with Ha Noi on foreign investment attraction and use on January 29th.

Member of the Party Central Committee, Deputy Secretary of the Municipal Party Committee and Chairman of the Municipal People's Committee Nguyen Duc Chung; Vice Chairwoman of the Municipal People's Council Phung Thi Hong Ha; and Vice Chairman of the Municipal People's Committee Nguyen Doan Toan were in attendance.

Giving a report at the session, Vice Chairman of the Municipal People's Committee Nguyen Doan Toan said that, by December 31st, 2018, Ha Noi recorded nearly 4,500 projects with the total registered capital of US$ 36.6 billion. In 2018, Ha Noi attracted over US$ 7.5 billion worth of foreign direct investment (FDI), becoming the leading city in FDI attraction.

According to the Vice Chairman, foreign investment sector has contributed to maintaining the high GRDP growth; increasing resources for state budget; strengthening technological transfer in number of fields of telecommunications, electronics, manufacturing industry of spare parts and assembly of automobiles, chemicals, construction and management of international standard hotels, health and high quality education, etc.

Besides, foreign investment capital has also had more contributions to economic restructuring, improving the competitiveness of the city's economy; creating jobs and training employees; enhancing administrative reform; and creating favorable business environment, etc.

In terms of state management of foreign investment in the area, Ha Noi always takes the lead in FDI attraction and disbursement. Particularly, the city has made a list of foreign investment projects in the city at annual conference Ha Noi Cooperation, Investment and Development; adjusted and withdrawn investment registration certificates and decisions as regulated by Law on Investment 2014; conducted inspection of between 40-50 projects to timely remove difficulties and problems; consolidated the apparatus to strengthen investment promotion, etc.

In the 2019-2020 period, Ha Noi clarifies some sectors, fields to attract foreign investment so as to take advantages of the city as well as provinces and cities in the region, including: synchronous and modern infrastructure development, agro-forestry-fishery production, advanced automation technology, information technology, biotechnology, tourism, trade, education and training, health care, logistics.

Accordingly, the city will make more effort build the administration accompanying with enterprises; improve investment environment, administrative reform; focus on removing difficulties for foreign investment businesses; renew investment promotion associated with trade and tourism promotion, external and cultural activities; clarify key markets and countries in three large areas, America, Europe, Japan - Korea); enhance IT application in dealing with administrative procedures of business and investment registration, taxation, insurance and land; publicize land planning; tighten discipline, administrative discipline to raise leaders' awareness and responsibility in supporting investors and enterprises.

Source: Ha Noi Portal