Monday, 23 Oct 2017

Investment disbursement expected to boost up Hanoi economic development

Updated at Monday, 07 Aug 2017, 17:21
The Hanoitimes - In July, Hanoi organized an investment conference, which has received positive response from investors. Many new projects have been proposed, contributing to the achievement of socio-economic goals of Hanoi.
According to report on the socio-economic situation of Hanoi in July, the execution of state investment fund is approximately 3,258 billion VND, an increase of 7.4% in comparison to the same period of last year. In average, during the first seven months of the year, the total investment fund was approximately 17,300 billion VND, increasing by 2.8% compared to the same period of last year, reaching 53.4% of the yearly goal.
Production at SYNOFEX Vietnam
Production at SYNOFEX Vietnam.
Currently, urban transport projects are conducted timely. Some projects  including the construction of CP1 (viaduct), CP2 (sky train), and CP5 (depot infrastructure) under the Urban Railway Project (Nhon – Hanoi Railway Station) have basically met the schedules . The overpass  from Nhon to S8 Station (Transport University) will be put into operation by the contractors first.
As for the Ring Road 3 Project, the Mai Dich to Thang Long section in particular, the site clearance through Mai Dich ward has been completed. District authorities are asking people to voluntarily resettle  to different locations to clear  400m2 land in the area. Besides, the city restructured public investment in the direction of focused fund allocation to improve the efficiency of capital use and to ensure the technical requirements, quality and schedule.
Hanoi has conducted proactively consistent measures to attract investment from both local and abroad to achieve positive results.
In the first 7 months, Hanoi has attracted 98 projects with total registered capital of 69 trillion VND, adjusting capital for 52 projects with the increased capital of 11,5 trillion VND. Currently, there are 128 ongoing projects under the form of PPP (Public – Private Partnership) with total investment of 307 trillion VND. In total for the 7 months of 2017, Hanoi has attracted 301 Foreign Direct Investment (FDI) projects with registered capital of 1,3 billion USD. The city has  approved 98 projects funded locally with capital of 68.97 trillion VND. As such, 61 projects in field of urban infrastructure development  with total investment of 65.6 trillion VND. Other 75 projects under PPP form have been registered  with estimated capital of 123.6 trillion VND, in which 71 project in field of urban infrastructure development with capital of 120.9 trillion VND.
Hanoi is one of the top 5 cities/provinces attracting the most FDI in Vietnam, in terms of both project quantity and quality. Specifically, among large scale FDI projects registered in Vietnam for the first 7 months, Hanoi has contributed 3 projects, such as Aeon Mall Ha Dong with registered capital of 192.51 million USD; Coca-Cola Vietnam with increased investment of 319.8 million USD and Park City of 72 million USD.
As of now, Hanoi has approved for the establishment of nearly 15,000 enterprises with total registered capital of 109 trillion VND (an increase of 10% in term of quantity).
For the  remaining months in 2017, the number of newly established enterprises is expected to increase when districts and wards proactively conduct measures to support enterprise development. In order to achieve objectives of 2017, Hanoi People’s Committee has requested all related agencies, districts and wards to continue support enterprises, creating favorable conditions for enterprises to focus on doing business and production. The priority among these measures would be administrative reform in tax procedures and custom, as well as to finalize the start-up ecosystem and promote creative start-up. On the other hand, Hanoi is pushing forward with programs of connecting demand and supply, enterprises and banks and stimulate demand  through investment, and price stabilization. All of these efforts are aimed at  supporting enterprises in expanding production, modernizing technology and investment to increase their competitiveness.
Nguyen Tung - Tram Anh
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