Hanoi
Hanoi aims for sustainable growth
In first 7 months of 2016, Hanoi remains sustainable economic growth. At the meantime, inflation has been under control, social security has been guaranteed, attracting capital and foreign investment have yielded positive results.
Electronics production at Canon Vietnam Co., Ltd., Dong Anh District, Hanoi
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The consumer price index (CPI) in Hanoi continued to go up in July, the seventh consecutive month of growth, the municipal Statistics Office (GSO) reported. The biggest rise was seen in transportation services, mainly due to the price hike in petrol and oil. It was followed by housing, electricity, water, fuel and building materials due to higher demand in summer.
Meanwhile, the group of restaurants and catering services showed a slight decrease compared to the previous month thanks to falling prices of food and food stuff. Total goods sales and services in July was estimated at nearly 178 trillion VND (8 billion USD), up 0.7 percent from the previous month and 11.3 percent from the same period last year.
Of which, retail sales recorded 41.8 trillion VND (1.88 billion USD), up 0.6 percent from the previous month and 8.1 percent from the same period last year. Total goods sales and services of the first seven months exceeded 1,200 trillion VND (54 billion USD), up 10.1 percent from the same period last year. Of which, retail sales account for 283.54 trillion VND (12.76 million USD), up 8.7 percent.
In July, the gold price recovered, rising 0.69 percent and the VND/USD exchange rate was up 0.78 percent against last month. The number of international tourists to the city reached 192,000, up 12.4 percent against the previous month and 8.8 percent from the same period last year. Meanwhile, the city saw a slight year-on-year increase of 5.4 percent in the number of domestic visitors, at 770,000 arrivals.
Hanoi’s index of industrial production (IIP) in the first seven months of this year grew robustly, surging by 7 percent year-on-year. From January to July, the processing and manufacturing industry posted a yearly rise of 7.3 percent while electricity production and distribution grew 7.8 percent. Water supply and waste and sewage management and treatment increase by only 0.6 percent.
Industrial products that posted high growth included food (21 percent), clothing (31.9 percent), medicine (25.4 percent), steel and iron (20.7 percent) and furniture (107.2 percent). The IIP, however, declined for several products such as mining (36 percent), wood and wood-based products (35 percent), beverage (9.3 percent), textiles (4.4 percent) and chemicals (6.5 percent). The outlook for the City’s industrial production in the second half of the year is bright thanks to the expansion of processing and manufacturing and the development of support industries.
Identifying construction planning associated with planning socio-economic development in the future, Hanoi Capital has continued international cooperation to strengthen and coordinate with ministries, branches and localities in reorganizing the green campus of tree in urban areas; public transportation; integrated electronic bus tickets; information technology applications in the data management system of government, to improve the health infrastructure, attracting investment in real estate and technology transfer and so on. Unifying the direction and actions of City's leaders is required throughout the construction and development process of Hanoi.
