Hanoi licensed numerous projects amounting to over $17 billion

By Quynh Chi - Jun 18, 2018 | 10:33 PM GMT+7

TheLEADERHanoi became a hotspot in drawing huge flow of investment when its local authority yesterday granted certificates and approval to 71 projects totaling over $17 billion of registered capital.

Hanoi licensed numerous projects amounting to over $17 billion
Hanoi city is temporarily leading the country in attracting FDI in 2018

Out of these projects, there are 11 foreign direct investment (FDI) projects with a total investment capital of $5.7 billion and 60 domestic projects with a total investment capital of $11.7 billion.

The investment certificates were delivered at the Hanoi 2018—Investment and Development Cooperation conference which is the third consecutive annual edition, showing Hanoi’s strong commitment to improve the business climate.

In the first six months of 2018, Hanoi city has attracted over $5.92 billion of FDI, making it the top city in terms of FDI attraction in the whole country in 2018.

Nguyen Duc Chung, Chairman of Hanoi People's Committee said that in the future, Hanoi city and other provinces in the key economic region in the North will continue to prioritize and call for investment for high tech projects, new technologies, clean energy, regional development projects and housing projects for workers.

Nguyen Duc Chung, Chairman of People's Committee of Hanoi city

Moreover, the leadership of Hanoi also proposed several changes to attract more investment into the capital city in the future.

Specifically, based on Chung’s statement, newly established enterprises will only need to register their records online. The entire procedure of corporate establishment will then be resolved and the results will be delivered to them.

Especially, the cost of establishing business will be supported by Hanoi city.

In order to raise the level of cooperation in the development of Hanoi and nearby regions,  several crucial things are required to peform such as promoting the 4.0 industrial revolution, improving the investment and business environment, maximizing the resources utilization, exploiting the potential and advantages of each locality to solve common issues and proactively integrating to the international.