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Hanoinews
Jun 17, 2018 / 10:49

Hanoi licenses US$17.5 billion projects, pledges more business-friendly policies

Minh Anh

The Hanoi government will grant investment licenses to projects worth more than US$17 billion on Sunday morning while vowing to issue more incentives to make it a business-friendly destination.

The Hanoi People’s Committee is expected to hand over investment certificates to 71 projects having a combined capital of VND397.33 trillion (US$17.5 billion) at an annual investment promotion event on June 17 morning.

PM Nguyen Xuan Phuc attends the conference.
 
Of the sum, as many as 11 foreign-invested projects worth VND130.06 trillion (US$5.4 billion) and 60 projects with a combined value of VND267.27 trillion by domestic investors will receive licenses at the event titled “Hanoi 2018 – investment cooperation and development”.

Those figures will enable Hanoi to emerge as the second-largest city in Vietnam in attracting foreign direct investment (FDI), said Mayor Nguyen Duc Chung.

The local government will give priority to and call fall investment in projects applying high-tech, new technologies, clean energy, waste treatment and those enhancing regional linkages, among others, Chung added.

At the event, Hanoi announced a portfolio comprised of 553 projects that it is calling for investment in. The projects embrace infrastructure, commerce, tourism, safe and hi-tech agriculture, and real estate fields.

In a bid to make Hanoi more attractive to do business, the mayor said the city has proposed offering free charge of fees related to business establishment procedures.

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