Investment
Hanoi economic growth in 2016 expected to reach 8.03%
Delivering his speech at the third session of the 15th Hanoi People’s Council from December 5-8, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan has unveiled that Hanoi’s economic growth in 2016 has hit its highest level in the past six years, reaching 8.03 percent.
During the four-day session, the council will discuss and approve 15 important resolutions related to socio-economics, defence and security, Hanoi’s State budget spending in 2017, key projects and middle term public investment next year.
Addressing the third session of the 15th Hanoi People’s Council opened on December 5, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said that despite failing to hit the yearly target of 8.5-9 percent, the city’s economic growth in 2016 has achieved its highest level in six years, reaching 8.03 percent.
The service sector rose by 8.1 percent while industry-construction and agriculture recorded an increases of 8.8 percent and 2.21 percent, respectively.
The deputy chairman noted that in the past year, an unprecedented number of new enterprises had been set up.
The city had new 22,922 new enterprises, an increase of 19% (with the registered capital of 203,765 billion VND, up 42%), he added.
According to the report presented at the session, Hanoi has finished or nearly finished key transport projects such as Ring Road No.2 running through Nhat Tan-Cau Giay, Ring Road No.1 through O Dong Mac-Nguyen Khoai, the Long Bien district centre project and accelerated railway projects.
Foreign-invested capital on projects reached 2.8billion USD, increasing 2.6 times compared to last year. Total social investment was estimated at 277.95 trillion VND (12.3 million USD), a rise of 10 percent in the previous year.
In the report of the city's socio-economic tasks in the past year, Deputy Chairman Toan said that the process had various weaknesses, including difficulties of business and production, leading to closure of firms.
Industry growth speed has been slowing down. Pressing issues include pollution at industrial parks and traditional craft villages, fires, explosions and traffic accidents.
During the session, a resolution on 2017 socio-economic development plan was approved. Accordingly, Gross Regional Domestic Product (GRDP) is hoped to reach 8.5 to 9 percent. GRDP per capita is targeted at 86 million VND to 88 million VND (3,820-3,900 USD).
Export-import turnover is aimed at 4 to 5 percent. Health insurance coverage is expected to reach 82.8 percent. The plan also expects all households in urban areas to have water for daily use.
To fulfill these targets, the meeting agreed on tasks, focused on improving the business and investment climate as well as provincial competitiveness index.
To deal with pollution, 117 industrial production located in 12 districts will be moved out of the inner city by 2020, Phan Hong Son, Director of the municipal Justice Department said.
Addressing the third session of the 15th Hanoi People’s Council opened on December 5, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said that despite failing to hit the yearly target of 8.5-9 percent, the city’s economic growth in 2016 has achieved its highest level in six years, reaching 8.03 percent.
Deputy Chairman of Hanoi People’s Committee Nguyen Doan Toan speaks at the session.
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The deputy chairman noted that in the past year, an unprecedented number of new enterprises had been set up.
The city had new 22,922 new enterprises, an increase of 19% (with the registered capital of 203,765 billion VND, up 42%), he added.
According to the report presented at the session, Hanoi has finished or nearly finished key transport projects such as Ring Road No.2 running through Nhat Tan-Cau Giay, Ring Road No.1 through O Dong Mac-Nguyen Khoai, the Long Bien district centre project and accelerated railway projects.
Foreign-invested capital on projects reached 2.8billion USD, increasing 2.6 times compared to last year. Total social investment was estimated at 277.95 trillion VND (12.3 million USD), a rise of 10 percent in the previous year.
In the report of the city's socio-economic tasks in the past year, Deputy Chairman Toan said that the process had various weaknesses, including difficulties of business and production, leading to closure of firms.
Industry growth speed has been slowing down. Pressing issues include pollution at industrial parks and traditional craft villages, fires, explosions and traffic accidents.
During the session, a resolution on 2017 socio-economic development plan was approved. Accordingly, Gross Regional Domestic Product (GRDP) is hoped to reach 8.5 to 9 percent. GRDP per capita is targeted at 86 million VND to 88 million VND (3,820-3,900 USD).
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To fulfill these targets, the meeting agreed on tasks, focused on improving the business and investment climate as well as provincial competitiveness index.
To deal with pollution, 117 industrial production located in 12 districts will be moved out of the inner city by 2020, Phan Hong Son, Director of the municipal Justice Department said.
