Hanoi: 10-month foreign investment jumps 2.6 times year on year

10:33 | 22/11/2016 Investment

Hanoi attracted 445 foreign invested projects with total registered capital of 2.8 billion USD between January and October, rising by 2.6 times from the same period of 2015.

Hanoi: 10-month foreign investment jumps 2.6 times year on year

Deputy Director of the municipal Department of Planning and Investment Tran Ngoc Nam speaks at a meeting with the press on November 15 (Photo: baodautu)

About 1.2 billion USD of the registered capital was implemented during the period, the Government portal (chinhphu.vn) quoted Deputy Director of the municipal Department of Planning and Investment Tran Ngoc Nam as saying at a meeting on November 15.

Big foreign investments were poured into some industries that the capital city is strong at, he said, noting that in the hi-tech sector, 300 million USD was committed for the building of a Samsung research and development centre.

FDI companies have posted growth in the disbursed capital and performance, which in turn would promote their confidence in the market and the local investment climate, Nam said.

One-fifth of the enterprises nationwide are based in Hanoi, making the capital city one of the leaders in business number, he said, adding that the continually improved business environment has facilitated the establishment of new firms.

From 2011 to 2015, 80,209 companies were set up in Hanoi, accounting for 43 percent of the total number of firms founded here between 1992 and 2015.

More than 22,000 new businesses with registered capital of over 203 trillion VND (about 9.1 billion USD) have been born in the city since the beginning of 2016, respectively rising by 19 percent and 42 percent from a year earlier.

Nam attributed those outcomes to drastic moves to tackle business difficulties, promote investment, and hold dialogues with enterprises.

The gross domestic product of Hanoi this year is estimated at 8.03 percent – a six-year high, he added./.

 

Source: VNA

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