The Hanoitimes - Hanoi retained the lead with highest portion of FDI attraction nationwide during the period, posting US$5.3 billion.
In the first six months of 2019, Hanoi’s gross regional domestic product (GRDP) is expected to expand 7.21%, higher than the 7.07% growth recorded in the same period last year, according to the municipal People’s Committee.
Notably, Hanoi retained the lead in FDI attraction nationwide during the period, posting US$5.3 billion, stated the committee’s semi-annual socio-economic plan presented at the meeting on June 11.
As of present, Hanoi has a total of accumulated FDI investment capital of US$41.2 billion, of which US$20.5 billion has been disbursed.
Tourism continued its upward trend with the city welcoming 14.4 million tourists in the six-month period, up 9.5% year-on-year, including 3.3 million foreign tourists, up 10.6%. This resulted in VND50.3 trillion (US$2.16 billion) in revenue from the tourism sector, up 29.8% year-on-year.
Additionally, Hanoi has seen a total of nearly 13,690 enterprises registered for new establishment in the first six months of 2019 with registered capital of VND143.7 trillion (US$6.16 billion), up 10% in the number and 1% in the capital year-on-year.
For the first time since the launch of the provincial competitiveness (PCI) index report in 2005, Hanoi has been named among the top 10 ranking nationwide, claiming the 9th rank out of 63 provinces and cities with a score of 65.40.
For such performance, Hanoi has already met the original target of being included in top 10 PCI index ranking by 2020 set by the municipal People's Council.
“The result showed strong efforts from Hanoi to realize its potential as one of Vietnam’s economic hubs and also in ASEAN in the future,” said Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI) at the launching of the 2018 PCI report on March 28.
For the second quarter, Hanoi continues to simplify administrative procedures in a bid to improve the business environment and enhance the city’s competitiveness.
In the time ahead, Hanoi is expected to hold a conference on improving business environment and its provincial competitiveness index (PCI) in 2019 and subsequent years.
Additionally, the city gives priority to startups and supporting the development of the private sector.
Hanoi targets GRDP growth rate of 7.5% in 2019 and 2020, leading to the GRDP growth in the 2016 – 2020 period of 7.33% - 7.41%, which is in line with the city’s five-year development plan.