Jun 17, 2018 / 10:34

Hanoi doubles efforts to lure investment

The Hanoi People’s Committee is holding the conference “Hanoi 2018 - Investment and Development Cooperation” on June 17 at the National Convention Center in a move to project a business-friendly image and attract more investment.

The event drew the participation of more than 1,500 delegates, including leaders of the government, ministries, and neighboring provinces, and representatives of foreign diplomatic missions, international organizations, associations, enterprises, investors; local and international news agencies.
Prime Minister Nguyen Xuan Phuc and Hanoi People's Committee Chairman Nguyen Duc Chung attends the conference
Prime Minister Nguyen Xuan Phuc (middle) and Hanoi People's Committee Chairman Nguyen Duc Chung head to the conference hall
Notably, hundreds of domestic and foreign investors and enterprises were present at the event, expressing their desire to invest in the city.
The conference aims to improve both domestic and foreign investment attraction by promoting the investment potential and opportunities of Hanoi and other provinces, cities within the Northern key economy region, Red River Delta on the principle of harmonizing the interest, responsibility and equality.
The Conference “Hanoi 2018 - Investment and Development Cooperation” is also an opportunity to present the cohesion of Hanoi City government, the leaders of other provinces and cities attending this conference with the investors, enterprises as well as connection agents who bring the investors, enterprises to the city.
“Hanoi 2018 – Investment and Development Cooperation” affirms the city's commitments to relentless efforts to create an investment environment that is convenient, transparent and complies with the international integration process; facilitate the best conditions for investors to do long-term business, as well as propose ways to enhance linkage with surrounding economic regions and the Red River Delta region.

Consistent with the goals to improve Hanoi’s investment climate

Hanoi Party Secretary Hoang Trung Hai speaks at the event.
Hanoi Party Secretary Hoang Trung Hai speaks at the event.
Addressing the conference, Politburo member  and Secretary of the Hanoi Party Committee Hoang Trung Hai affirmed that Hanoi held the annual event to improve the investment environment, "go with the business" and "encourage the private sector to become an important engine for the city’s economic restructuring."

Hai also said Hanoi is facing huge challenges such as pressure from population growth and productivity, overload of essential infrastructure and services, environmental pollution, skilled human resources.

The city has been implementing many measures. It invests in building and perfecting the system of technical and socio-economic infrastructure, promotes interregional investment projects, plans the development of satellite towns, implements investment projects on environmental pollution treatment, builds development platform for a smart city.

Hanoi sticks to its steadfast viewpoint: the key to success is the business community and entrepreneurs, the secretary stressed.

Hanoi will cover the whole cost of establishing a business

Chairman of Hanoi People's Committee Nguyen Duc Chung

Reporting on the results of Hanoi’s investment attraction and socio-economic development from 2016 to June 2018, results of cooperation between Hanoi and other provinces and cities in the 2016-2017 period, Chairman of the Hanoi People's Committee Nguyen Duc Chung said that Hanoi’s socio-economic results in recent years and in the half of 2018 will continue to develop comprehensively and achieve outstanding results.

He said that the city will focus on attracting investment in the coming years, as follows:

Firstly, Hanoi will promote development of the knowledge economy, apply information technology, actively participate and capture the opportunities of the fourth industrial revolution to improve labor productivity, develop new industries. Hanoi aims to become a center for startups, and smart city.

Secondly, Hanoi will continue to improve the investment climate, accelerate administrative reforms and issue policies to support enterprises.

Thirdly, the city will mobilize the maximum resources, create a breakthrough in synchronous development of infrastructure, especially transport infrastructure and framework technical infrastructure.

Fourthly, Hanoi aims to become a high-quality services center of the country and the region. Moreover, it aims to improve living standards, towards meeting the standards in the region and in the world in the aspects of water supply, green energy, waste treatment, environmental pollution treatment (water, air), ensuring green and sustainable development.

Fifthly, Hanoi and other provinces and cities in the region will work out a plan to maximize the potentials and advantages of each locality to solve common problems such as environmental treatment, green energy development, startup, transport infrastructure connection, consumption, processing, agriculture, forestry, seafood, services, tourism.

Sixthly, Hanoi will actively take measures for international integration; strengthen external activities, investment promotion, trade and tourism promotion activities, especially with capital cities in the world, big corporations, transnational corporations; promote cooperation in research, application and transfer of new scientific and technological achievements in all fields.

Hanoi promotes cooperation with other provinces and cities

Speaking at the conference, Dinh Chung Phung, Standing Vice Chairman of Ninh Binh province, said that this is an opportunity for Ninh Binh and other provinces to exchange cooperation. Ninh Binh’s tourism has experienced strong development with two national tourist sites and seven provincial tourist sites with improved facilities, diversified tourist products to attract tourists.

Mr. Nguyen Van Thanh, Vice Chairman of Hai Phong People's Committee said that in recent years, Hai Phong city actively has carried out the assigned tasks to develop plans for cooperation activities with provinces in the region in the period of 2017 – 2018.

Addressing the meeting, Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said that the number of investment projects and new businesses in Hanoi has increased rapidly. However, Hanoi must deal with many problems to develop the investment climate.

Mr. Hoang Cong Thuy - Vice Chairman of Phu Tho People's Committee said that regional economic development is always a matter of concern for the Party and State, in the context of of regional integration, especially for the provinces in the region with more difficult conditions. For the provinces bordering with Hanoi, the consumption of goods, especially agricultural products, must be closely linked with Hanoi. Besides, other products and services in the provinces also focus on trading with Hanoi.

Hanoi has been constantly implementing administrative reforms

Speaking at the conference, Minister of Planning and Investment Nguyen Chi Dung said that in recent years, Hanoi has been continuously carying out administrative reforms, improving the business environment and achieved many important results.

Today's conference is a chance to look back one year of efforts made by Hanoi as well as to share the vision and cooperation direction in the coming time towards rapid and sustainable development, in order to become a model of smart city in the region and in the world.

Hanoi, the nucleus of the Red River delta region, acts as a trade gateway to and from the world. However, the activities associated with localities are not really effective, still divided by administrative boundaries. For sustainable development, Hanoi should be placed in the overall development of the region, the minister noted.

Addressing the conference, Denis Brunetti, Co-Chairman of the European Business Association (EuroCham) in Vietnam, President of Ericsson Vietnam, Myanmar, Cambodia, Laos recognized the strong growth that has helped Vietnam become a middle-income country, with impressive development in the service sector and tourism.

Denis Brunetti, Co-Chairman of Vietnam
He also emphasized the importance of e-commerce as well as the explosion of the Internet, which has made remarkable achievements, contributing positively to Vietnam’s comprehensive economic development.

"One of Hanoi’s development plans is to focus on smart city, with technological background and good electronic connections. We pay special attention to Hanoi and ready to accompany with the city in this field,” pledged Denis Brunetti.

Leaders of Sumitomo Corporation - Smart City Development said that Sumitomo Corporation and BRG Group signed a memorandum of cooperation to build a smart city project in Hanoi. In the past, the two groups received a lot of support from the Government, ministries and branches from the central to Hanoi in the development of the project.

Sumitomo Corporation has determined that social infrastructure development is one of the key aspects of the group's investment in Hanoi. The smart city project is in line with the group's investment plan. Sumitomo Corporation wishes to build and develop a smart city project, a model of cooperation in the future, to live comfortably and conveniently, contributing to Hanoi’s development.

Hanoi hands over investment certificates to 71 projects

At the conference, memoranda of understanding on cooperation between Hanoi and provinces, cities such as Ha Nam, Ninh Binh, Hoa Binh, Nam Dinh, Bac Ninh, Hung Yen, Vinh Phuc, Hai Duong, Son La, Bac Giang and other agencies, organizations and investors have been signed.

The Hanoi People’s Committee has handed over investment certificates to 71 projects with a combined capital of VND397.335 trillion (US$17.5 billion), of which there are 11 FDI projects with a total investment of VND130,061 trillion (US$5.7 billion)