Ha Noi ranks third in FDI attraction

November 23, 2023 9:45 AM GMT+7

VGP - Ha Noi ranks third in the country as the most attractive destination for foreign investors and plans to draw roughly US$485 million in foreign direct investment by the end of the year.

Ha Noi ranks third in FDI attraction  - Ảnh 1.

Illustration photo

In 2024, the capital aims to welcome about US$3.15 billion worth of FDI capital. Of this, about US$2.15 billion is expected to pour into land use projects and about $1 billion into commercial and service projects.

For 2025, Ha Noi also targets $2.7 billion of FDI capital, including US$1.2 billion for commercial and service projects and US$1.5 billion for land-use projects.

Deputy Chairman of the Ha Noi People's Committee Nguyen Manh Quyen asked local authorities to continue administrative reform work and provide regular updates on the areas and infrastructure designated for future projects.

Vice Chairman Quyen also ordered subordinate agencies to remove bottlenecks and be active in promoting foreign investment.

He tasked the local authorities to report problems beyond their jurisdiction to the municipal government as soon as possible for solutions.

"Industrial parks must review and improve their facilities and organize events to attract foreign businesses," he said.

He also asked the Hanoi Promotion Agency (HPA) to conduct activities to introduce Hanoi's business environment to foreign investors.

"Foreign investors must be given sufficient information on local business and investment conditions," he said.

Foreign investment promotion conferences should be held both in Ha Noi and in overseas cities, he said.

According to Nguyen Ngoc Tu, Deputy Director of the city's Department of Planning and Investment, Ha Noi drew more than US$2.6 billion worth of FDI capital in the first 10 months, ranking third in the country.

In the first ten months, about 340 new projects were registered in Ha Noi with a total registered capital of US$321 million. Foreign investors also increased their capital by US$242 million during the period.

Foreign investors bought US$544.3 million worth of equity in FDI projects and US$1.5 billion worth of shares on the stock market./.

Kim Anh