Hanoi continues to lead the country in drawing foreign direct investment (FDI) with more than 7.5 billion USD poured into the capital since the beginning of 2018, a 2.18-fold increase against the previous year.
A Japanese-invested production line of electronic products in Hanoi's Quang Minh Industrial Park (Illustrative image. Source: VNA).
Deputy director
of the municipal Department of Planning and Investment Tran Ngoc Nam revealed
the information at a regular press meeting of the Hanoi Party Committee on
December 25.
In 2018, the city has granted licences to 616 new FDI projects with total
registered capital of 5.03 billion USD, he said.
According to Nam, the capital has deployed a number of measures to improve
the investment environment and increase support for investors and businesses
from business registration to implementation of projects.
Particularly, the city has approved the simplification of 61
administrative procedures and pressed ahead with online business registration,
ensuring that relevant administrative procedures are completed within three
days.
Japan is the leading foreign investor in Hanoi with about 10.6 billion
USD, followed by Singapore, 6.9 billion USD, and the Republic of Korea, 5.5
billion USD, Nam said.
The field most attractive to foreign investors are real estate, which
absorbed 34.8 percent of total FDI, followed by processing and manufacturing
24.4 percent, information and communications 8.72 percent, and construction
6.29 percent, he added.
Source: VNA
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Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
