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Feb 03, 2023 / 13:18

Hanoi committed to supporting FDI in expanding operation

Hanoi would continue to facilitate companies and treat all equally regardless of their status as local or foreign-invested.

Hanoi’s authorities are committed to supporting businesses expanding operations in the capital, including foreign direct investment (FDI) enterprises, said Deputy Secretary of the Hanoi Party Committee Nguyen Van Phong during his visit to the foreign-invested enterprises in Me Linh and Dong Anh districts on February 2.

 Vice Secretary of the Hanoi Party Committee Nguyen Van Phong visits CMS Vina. Photos: The Hanoi Times

The delegation visited CMS Vina (South Korea) in Quang Minh Industrial Park, Me Linh District, specializing in manufacturing phone parts.

The company with total investment capital of $10.3 million started operations in the country in 2011. To date, CMS Vina employs over 500 workers, paying an average monthly salary of VND11.17 million ($476.28).

The company posted a revenue of $38 million in 2022. 

During the visit, Phong congratulated CMS Vina on its strong business performance after suffering the severe consequences of the Covid-19 pandemic.

 The Vice Party Chief presents gifts to representatives of CMS Vina. 

According to Phong, Hanoi has achieved positive socio-economic results last year, including a GRDP growth of 8.89% year on year, which was partly thanks to the contribution of FDI companies in the city.

Phong said 2023 to remain a challenging year for the business community amid the volatile global situation and the pandemic impacts, calling for the company to pay greater attention to the well-being of employees.

“The company’s effective operations would help contribute to the Vietnam-South Korea relations,” he added.

Visiting SD Vietnam (Japan), which produces wire harnesses for electrical devices, Phong sent his new year greetings to the company and expressed his delight at its speedy recovery following the Covid-19 pandemic.

 The Hanoi delegation at the SD Vietnam. 

With a registered capital of $7 million and starting a business in 2001, the company employs nearly 1,700 workers, paying an average monthly wage of VND11.32 million ($482). SD Vietnam generated revenue of $49.5 million in 2022.

"This not only shows the company's rising status in Vietnam's market and proves the city's favorable environment for FDI companies," Phong added.

 Phong presents gifts to representatives of SD Vietnam. 

Given the fierce competition to secure a high-quality workforce in the city, Phong called for SD Vietnam to focus on training the employees to support the company’s expanded operation in the coming time.

He said an improved working environment and good beneficiaries are key factors to strengthen the bond between employers and workers.

“Hanoi would continue to create favorable conditions for the company to grow, and treat all equally regardless of their status as local or foreign-invested,” Phong stated.