Tuesday, 21 Aug 2018
HANOINEWS

Party chief asks Hanoi to boost investment

Updated at Friday, 03 Aug 2018, 07:20
The Hanoitimes - Secretary of the Hanoi Party Committee Hoang Trung Hai urged local authorities to facilitate the implementation progress of FDI and public-private partnership (PPP) projects, which are important resources for development.
Hanoi holds huge potential for development, for which Secretary of the Hanoi Party Committee Hoang Trung Hai requested that the city's Department of Planning and Investment seek ways to boost investment and attract more resources. 
 
Illustrative photo.
Illustrative photo.
This would in turn transform Hanoi's economic structure and create more jobs, Hai said at a meeting with Hanoi's Department of Planning and Investment on August 2. 

Concurrently, Hai urged local authorities to facilitate the implementation progress of FDI and PPP projects, which are important resources for development. 

In the time to come, the department should focus on administrative reform, with the aim of reducing processing time for administrative procedures, Hai added. 

According to Nguyen Manh Quyen, director of Hanoi's Department of Planning and Investment, in the first six months of 2018, the city approved 59 projects with investment capital of VND158.6 trillion (US$6.8 billion), while 12 PPP projects worth VND28.4 trillion (US$1.21 billion) are being implemented. 

Among 59 cities and provinces that received foreign investment, Hanoi has attracted the largest amount of US$5.91 billion in foreign capital during the January - June period, 5.4 times higher than the same period of last year and equivalent to 164% of the year's target. 

Moreover, over 12,400 new enterprises were set up with registered capital of VND142.25 trillion (US$6.1 billion) in the first half of this year, up 50% year-on-year, taking the total number of enterprises in Hanoi to 242,932. 

With regard to administrative procedures, year to June 30, the department had received 87,707 documents, 97.58% of which were solved. 

Notably, 100% of procedures of business registration are processed online. As of August 1, the department will charge no fee for enterprises during its establishment process. 
Ngoc Thuy
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