Hanoi attracts investment for environment and consumption of agricultural products

17:03 | 30/06/2018 Economy

Only a few days ago, Hanoi granted investment decisions to 71 projects valued at more than VND400 trillion, which were awarded investment under the framework of the conference “Hanoi 2018 - Investment and Development Cooperation” in Hanoi, showing the determination of the city in attracting investors and solving problems and difficulties for domestic and foreign investors.

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Attracting as much investment during two and a half year as the previous 29 years

According to the Hanoi municipal People's Committee, as of June 15, 2018, there were more than 4,300 foreign direct investment (FDI) projects in Hanoi, with the registered capital reaching US$33.38 billion, of which, during two years - 2016 and 2017 - and the first six months of 2018, Hanoi attracted US$12.46 billion, equal to 59% of the total investment capital attracted during the 29 years from 1986 to 2015.

At the conference “Hanoi 2018 - Investment and Development Cooperation” held last week, Hanoi handed over investment decisions and investment certificates for 71 projects with total investment capital of VND 397,335 billion (equivalent to over US$ 17 billion), including 11 FDI projects with a total investment capital of VND 130,061 billion (equivalent to US$ 5.428 billion), and 60 domestic investment projects, with total investment capital of VND 267,274 billion.

These investment projects are allocated across many fields, including agriculture (two projects, with a total investment capital of VND 275 billion); social infrastructure (10 projects, VND 5,824 billion); trade, services (18 projects, VND 41,671 billion); Urban technical infrastructure (12 projects, VND23,229 billion) and most of housing and urban areas (29 projects, VND327,532 billion).

Furthermore, in Hanoi, the provinces and cities in the region, the Hoa Lac Hi-Tech Park Management Board, along with domestic and foreign investors, have also granted 24 Memorandums of Understanding (MoU) on investment in various fields, with total investment capital of VND70,000 billion, in the near future.

With this result, Hanoi has become the second largest country in terms of attracting FDI and for the first time over the past 30 years, in the first six months of 2018 when the total FDI amounted to US$ 5,915 million, Hanoi temporarily ranked first place in the country in 2018.

Many memorandums on the environment and consumption of agricultural products signed

Twenty-four MoUs on cooperation in many fields have been signed between Hanoi and other provinces, cities in the region, and domestic and foreign investors. Especially, there are MoUs related to waste treatment, environmental pollution, processing and the marketing of agricultural products.

The Hanoi municipal People's Committee and the People's Committees of Ha Nam, Ninh Binh, Hoa Binh and Nam Dinh provinces have signed MoUs on cooperating and focusing on the treatment of environmental pollution in the Nhue-Day river basin. With the MoU, the provinces and cities will jointly carry out the programmes and overall plan for environmental protection in the Nhue-Day river basin; as well as the overall plan on strengthening, communicating and raising public awareness on inter-regional environment. Meanwhile, the provinces and cities will also strengthen the inspection, examination and coordination to settle environmental complaints and denunciations in adjacent areas. They will also implement river rehabilitation and restoration, including: the restoration, conservation of ecosystems, improvement of water quality, and the development of wetlands and the riverside ecological belt.

Hanoi and Toyo group of Japan also signed a MoU on studying and investing in the project of a waste treatment plant in Hanoi. In addition, Hanoi and Aquaone Water JSC and Aone Deutschland AG signed a MoU on building a new sewage treatment plant in the city.

In terms of environmental protection, the Hanoi municipal People's Committee, Thai Binh People's Committee, Ha Nam People's Committee, and Phu Tho People's Committee signed MoUs on technical cooperation and exchange experience in planting and maintaining the system of urban greenery / flowers in the province or city.

On agricultural products consumption, Hanoi signed a MoU with Lotte Group, Korea, on organising the Vietnam-Hanoi Agricultural Products Week at the supermarket chain Lotte, Korea.

Investment attraction plays an important role in the economic development of the capital. The development of enterprises has contributed significantly to the capital's continuous economic growth in 2016 (up 7.15 pct), in 2017 (up 7.31 pct), and the first six months of 2018 is estimated to increase (up 7.07 pct). Although many issues have been changed and overcome, as well as facing many challenges, Hanoi is also trying to follow the path of green and sustainable development.

Theo NDO