Oct 02, 2019 / 14:15

Hanoi continues to lead Vietnam in FDI attraction with US$6.15 billion in Jan-Sep

The Hanoitimes - The result indicated improvements of Hanoi`s business and investment environment, said Director of the municipal Planning and Investment Department Nguyen Manh Quyen.

Among 59 cities and provinces having received direct foreign investment (FDI) in the first nine months this year, Hanoi has attracted the largest portion of capital commitments with over US$6.23 billion, accounting for 23.5% of total nationwide, according to Nguyen Manh Quyen, director of the municipal Department of Planning and Investment. 
 
Nguyen Manh Quyen, director of municipal Department of Planning and Investment at the meeting.
Nguyen Manh Quyen, director of municipal Department of Planning and Investment at the meeting.
The result indicated improvements of Hanoi's business and investment environment, Quyen said at a meeting on October 1. 

Ho Chi Minh City came second with US$4.52 billion or 17.3% of the total investment, followed by Binh Duong with over US$2.52 billion, accounting for 9.6% of total investment.

As of present, Hanoi has accumulated a total of US$41.3 billion in registered FDI, of which the actual disbursed amount stood at US$24.9 billion, or 49.7% of the total. 

Hanoi has seen a total of nearly 20,562 enterprises set up in the first nine months of 2019 with registered capital of VND263.8 trillion (US$11.36 billion), up 9% in number and 28% in capital year-on-year. Meanwhile, the number of enterprises that completed bankruptcy procedures climbed 30% year-on-year to 1,500. Up to 6,458 enterprises suspended operations temporarily, a rise of 26% and 4,450 resumed operation.  

During the period, the city's state budget revenue reached VND171.7 trillion (US$7.4 billion), equivalent to 69.9% of the year's estimate and up 15% inter-annually. Of the total, revenue from crude oil reached VND2.6 trillion (US$111.98 million), up 16.8% year-on-year, and domestic revenue of VND169.1 trillion (US$7.28 billion), up 15%.  

Total retail sales of consumer goods and services grew by 10.3% in the January – September period to VND412 trillion (US$17.74 billion), including VND70.5 trillion (US$3.03 billion) from the state sector, up 5.3% year-on-year, private sector with VND319 trillion (US$13.47 billion), up 12.1%, and the foreign-invested sector with VND22.5 trillion (US$969.27 million), up 2.3%. 

In the first nine months of 2019, Hanoi’s gross regional domestic product (GRDP) expanded by an estimated 7.35%, higher than the 7.01% growth recorded in the same period last year,

The consumer price index (CPI) rose 0.12% month-on-month in September, 2.64% against last December and 2.31% year-on-year. Overall, Hanoi’s CPI in the first nine months increased by an average 3.74% against the same period last year. 

Hanoi targets GRDP growth rate of 7.5% in 2019 and 2020, leading to the average GRDP growth in the 2016 – 2020 period of 7.33% - 7.41% per year, which is in line with the city’s five-year development plan.