Hanoi Attracts US$1.56 Billion in FDI in Five Months

9:58:26 AM | 2/6/2020

Hanoi attracted US$1.56 billion in FDI in the first five months of this year, it was reported at a video meeting of the municipal People’s Committee on May 29.

The city saw the establishment of 12,260 new firms in the period with total registered capital of VND181.4 trillion (US$7.78 billion), down 10 percent in number but up 9 percent in capital compared to the same period last year.

Meanwhile, 1,261 firms dissolved during the period, 7,075 others suspended operation and 3,669 resumed production and business.

Hanoi continues to perform fairly in enhancing local competitiveness and administrative reform. It came in at second place in the 2019 Public Administration Reform Index (PAR Index) for the third year in a row with 84.64 percent. The capital city gained 68.8 points in the 2019 Provincial Competitiveness Index, 3.4 points more than previous year, to rank the 9th for the second straight year.

Speaking at the meeting, Chairman of the committee Nguyen Duc Chung said local authorities have made concerted efforts to carry out the double task of epidemic prevention and economic development.

Hanoi has gone through 43 consecutive days without any new community infection of COVID-19, and all 118 COVID-19 patients in the city have recovered.

The city will continue to implement the directive of the municipal People’s Committee’s Chairman on preventing and fighting the pandemic along with the tasks and solutions set by the Government, the Prime Minister in the “new normal” situation.

Source: NDO/VNA