Hanoi Attracting Investments

2:41:41 PM | 16/6/2016

Over 500 representatives from the Government, related ministries and agencies, localities, Vietnamese and foreign business communities have participated the Conference “Hanoi 2016 – Investment and Development” sponsored recently by Hanoi People’s Committee.
It is the biggest ever organised in Hanoi to implement Resolution 19/2016/NQ-CP of April 28, 2016 of the Government on main tasks and solutions to improve business environment, national competitiveness in 2016-2017 and vision of 2020. The conference manifested the determination for renovation in line with the guidance of the Prime Minister and commitment of Hanoi at the Conference “Businesses – Driving force of national economic development”.
Speaking at the Conference, Prime Minister Nguyen Xuan Phuc said that Hanoi was the first to organise such a big business meeting with the full participation of the city leaders, ministries, associations, businesses and investors, local and foreign, after the Conference “Vietnamese businesses – Driving force of national economic development” organised on April 29, 2016 in Ho Chi Minh City with 5 important substances: Meeting businesses – Solving recommendations – Calling for investments – Signing cooperation documents – Honouring businesses.
“We have witnessed the high determination of Hanoi authorities, regarding business development as the first priority in leading, guidance and operation,” the Prime Minister commented, and also asked Hanoi to take the lead and become business start-up centre and innovation centre of Vietnam.
Hanoi Party Secretary Hoang Trung Hai said that over 30 years of renovation, Hanoi has made important achievements in socio-economic development. In 2015, GDP per capita was US$3,360, 6.36 times that of 1990, with many breakthroughs in business activities and foreign investments. Hanoi has mobilized and promoted all social resources contributing an important part to national development. “Hanoi has become an attractive destination for local and foreign investors,” Mr Hai said. 
For his part, Hanoi People’s Committee Chairman Nguyen Duc Chung highlighted main objectives of the city: GDP growth of 8.5-9 per cent in 2016-2020, GDP capita of US$6,700-6,800; social investment in 2016-2020 of VND2.5-26,000 trillion (annual growth of 13-14 per cent), including 80 per cent non-budget capital, average social productivity of 6.5/year, trained workforce of 70-75 per cent, urban unemployment rate below 4 per cent.
To attain those objectives, Hanoi decides to focus on developing technical infrastructure to meet the demand of modern city, investing in industry, agriculture, trade and service. In particular, the city will invest in high quality service in an attempt to reach ASEAN regional and world standards at the same time ensuring social welfare and century-old culture.
The city will combine budgets of central government to develop frame infrastructure, overriding socio-economic projects as well as those relating to national security and defence, and special technology such as power grid, communication network, while private businesses will invest in retail sales network. The city calls on social investments under various forms.
At the conference, Hanoi has granted 23 investment permits to 16 foreign investors and 7 local investors in such areas as telecommunications, water supply, parks, recreation centres, housing, health service and trade.
The Prime Minister awarded 10 enterprises with Certificates of Merit and Hanoi Chairman granted 20 enterprises the same honour.
Quynh Chi