Hanoi lures nearly $1.7 billion in foreign investment in 2022
The capital city ranks among the top localities in foreign direct investment attraction.
Hanoi lured nearly US$1.7 billion in foreign direct investment in 2022, up 10.3% year-on-year.
|Hanoi's Thang Long Industrial Park is home to many foreign investors. Photo: Thang Long Industrial Park Co.|
Last year, the Hanoi Department of Planning and Investment granted investment licenses for 365 new projects, with a total registered capital of $233 million.
In addition, more than 200 projects were applied to raise their investment capital, with a total additional capital of US$834 million. Foreign investment through capital contributions and share purchases reached US$625 million in 2022.
In the same period, new businesses in Hanoi reached 29,600, an increase of 23% against 2021, with a total registered capital of VND328.4 trillion ($13.9 billion), down 5%.
As many as 3,600 enterprises announced their dissolution, and 16,400 firms registered to suspend operation, up 16% and 38%, respectively. In addition, 9,800 businesses restored their operation, up 1.5%.
During the 2021-2025 period, Hanoi sets the target of drawing $30-40 billion of FDI and disbursing $20-30 billion.
At a relevant meeting last year, Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen said: “The city prioritizes FDI projects focusing on sustainable development, creating high-added value and competitive edge, especially in fields of urban development, supporting industries, tourism, finance-banking, human resource development or hi-tech farming.”
Hanoi is accelerating the construction of new industrial parks and clusters, referring to the program of setting up two to five industrial parks in the city during the 2021-2025 period.
The city is also focusing on simplifying administrative procedures and creating new incentive policies in terms of taxes and land to attract FDI, Quyen said.
- FDI to Vietnam’s real estate rises by over 70% in 2022
- Laos vows to facilitate Vietnam's investors
- Hanoi lures nearly $1.7 billion in foreign investment in 2022
- European Investment Bank will provide Vietnam climate finance
- Vietnam stands as credible partner for foreign investors
- Vietnamese Gov’t to divest state capital at 141 businesses until 2025
- IFC assists Vietnam to boost green finance for a low-carbon economy
- Vietnam's FDI outlays in 10 months jump 15% to exceed $17 billion
- Actual FDI to Vietnam rises over 16% to US$15.4 billion in 9-month
- Construction of road connecting Northwest region kicked off
Vietnam State Treasury to raise US$17 billion through Gov’t bonds in 2023
Ly Quoc Su Food Street: not only famous for pho
Hanoians decorate stunning wild pear flowers after Tet
Hanoi takes drastic action to handle solid waste
Biggest northern Vietnam festival attracts tens of thousands visitors
Hanoians show passion for flowers
Vietnam’s tourism forecast to strongly rebound in five years
Admiring 2,023 feline statuettes made by Hanoi artist
Overseas Vietnamese eagerly await Tet and spring