Ha Noi improves competitiveness to attract investment

29/10/2020

VGP – Ha Noi has been working to improve the quality of its investment and business environment, while accompanying businesses, aimed at enhancing competitiveness to further attract investment.

Illustration photo

Outstanding results

According to Director of the Ha Noi Statistical Office Dau Ngoc Hung, in the first nine months of 2020, the city licensed 19,700 new businesses with a total registered capital of VND260.8 trillion, and drew nearly US$3.3 billion of foreign direct investment (FDI), continuing to be among the leading localities in terms of FDI attraction. 

Between 2016 and 2020, FDI inflow in Ha Noi reached US$25 billion, a 3.9-fold increase compared to that of the 2011-2015 period. 

So far, Ha Noi has still been building on the achieved results in administrative procedure reforms, ensuring the entire process of business registration and customs declaration is performed online and other administrative procedures are handled on time. 

In particular, the city has held regular dialogues with enterprises to remove difficulties and boost business and production. Thanks to those efforts, its gross regional domestic product (GRDP) from January to September increased by 3.27% over the same period last year. 

This is a poor result in the past few years, which, however, is acceptable in the context of the COVID-19 pandemic affecting all aspects of the socio-economic life.

Accompanying businesses

According to the Ha Noi Department of Planning and Investment, the city will continue to persevere in the goal of improving the quality of the local investment and business climate and standing side by side with enterprises in the time ahead. 

Specifically, Ha Noi will strengthen on-site investment promotion, support investors and businesses from business registration to project implementation, and carry on with the building of e-government towards the digital government, aimed at reducing time and costs for enterprises and enhancing the quality of public administrative services. 

Ha Noi is determined to remain among the top 10 localities with the highest Provincial Competitiveness Index (PCI). 

The city will also focus on speeding up the construction progress of industrial parks and clusters to meet businesses’ needs for production ground. 

As shown in reality, improving the quality of the investment and business climate is always a cross-cutting goal that all levels and branches of Ha Noi aim towards in order to enhance the city’s competitiveness and attract more investors.

By Vien Nhu