Hanoi
Hanoi maintains positive economic picture in 8 months
With FDI reaching US$6.26 billion, a 3.6-fold increase over the same period of 2017, from the start of this year, the Hanoi government commits to continuously improve the investment climate.
Hanoi's main economic indicators in August continued to see positive performance and improved in the first eight months this year compared to a year earlier, according to statistics announced at a monthly meeting of the Hanoi People's Committee on August 27.
The meeting was was chaired by the committee's Chairman Nguyen Duc Chung and attended by his five deputies namely Nguyen Van Suu, Nguyen Quoc Hung, Nguyen The Hung, Ngo Van Quy, Nguyen Doan Toan, and Le Hong Son.
At the meeting, Director of the Hanoi Department of Planning and Investment Nguyen Manh Quyen said industrial production in the city increased by 7.2% year-on-year in August. Total retail sales and service revenue in August increased 5.5% while the consumer price index (CPI) in the eight-month period increased by 3.76%, higher than 3.53% in same period last year.
Export turnover between January and Auguet was up 19.0% to reach US$9.16 billion while imports totaled US$20.03 billion, up 6.2%. This results in a trade deficit of US$10.87 billion in the eight-month period.
The tourism industry continued to growth, with tourist arrivals to Hanoi in August estimated at 2.27 million an increase of 8.22%, of which international visitors were 458,300, up 13% year-on-year. In the first eight months, visitors to Hanoi totaled 17.63 million, up 9.08%, bringing revenue of some VND51.28 trillion (US$2.2 billion), up 7.12%.
In terms of agricultural production, as of August 15, 106.75 thousand hectares of rice and seasonal crops were cultivated, down 6.5% from the same period last year.
The department informed that 16,467 companies were established in the eight months through August with combined registered capital of VND180 trillion (US$7.74 billion), increasing by 0.2% in number and 41% in capital.
In August, Hanoi attracted US$95 million of foreign direct investment, bringing the eight-month tally to US$6.26 billion, a 3.6-fold increase over the same period of 2017.
As of August 20, 2018, the Hanoi Department of Planning and Investment had given in-principle approval to 64 projects with capital of VND159.78 trillion (US$6.87 billion), and permitter investors of 58 projects to add VND86.33 trillion (US$3.71 billion).
State budget revenue in the city in the first eight months was estimated at VND151.6 trillion (US$6.5 billion), meeting 63.6% of the year's plan, up 16.1% over the same period of 2017. Total local budget expenditure is estimated at VND42.6 trillion (US$1.83 billion), or 44.7% of the estimate.
In terms of urban management and development, Hanoi is preparing for the building of the urban administration model. In addition, the city continues to renovate urban areas, emhance environmental protection and carry out the 1-million tree planting program. The city continues to inspect, maintain, manage and operate effectively the system of irrigation works, to closely monitor the weather, take initiative in irrigation, drainage, flood and storm prevention.
Hanoi accelerates administrative reform, improves investment environment
In the last months of 2018, Hanoi will continue to direct and urge departments, branches, the People's Committee of districts, towns to implement drastically and effectively 188 development tasks, socio-economic solutions and state budget estimates in 2018.
The city steps up collection solutions of sustainable budgets, focusing on reviewing all targets and plans to speed up the budget collection, especially the revenues from land-use auction and tax collection from non-state projects, taxation from catering services, purchase of land and houses, transferring registration for vehicles and so on.
Moreover, Hanoi implements the "Year of enhancing the effectiveness of political system 2018", continues to speed up simplification of administrative procedures, reduce conditions and time, save costs of settling administrative procedures, create maximum favorable conditions for people, enterprises and organizations.
Furthermore, the city continues to accelerate administrative reform, improve the investment environment, implement the law on supporting small and medium enterprises, promote start-ups and creative innovation, deploy the comprehensive support policy on registration of new enterprises from August 1, 2018.
The meeting was was chaired by the committee's Chairman Nguyen Duc Chung and attended by his five deputies namely Nguyen Van Suu, Nguyen Quoc Hung, Nguyen The Hung, Ngo Van Quy, Nguyen Doan Toan, and Le Hong Son.
Chairman of the Hanoi People's Committee Nguyen Duc Chung addressed the meeting
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Export turnover between January and Auguet was up 19.0% to reach US$9.16 billion while imports totaled US$20.03 billion, up 6.2%. This results in a trade deficit of US$10.87 billion in the eight-month period.
The tourism industry continued to growth, with tourist arrivals to Hanoi in August estimated at 2.27 million an increase of 8.22%, of which international visitors were 458,300, up 13% year-on-year. In the first eight months, visitors to Hanoi totaled 17.63 million, up 9.08%, bringing revenue of some VND51.28 trillion (US$2.2 billion), up 7.12%.
In terms of agricultural production, as of August 15, 106.75 thousand hectares of rice and seasonal crops were cultivated, down 6.5% from the same period last year.
The department informed that 16,467 companies were established in the eight months through August with combined registered capital of VND180 trillion (US$7.74 billion), increasing by 0.2% in number and 41% in capital.
In August, Hanoi attracted US$95 million of foreign direct investment, bringing the eight-month tally to US$6.26 billion, a 3.6-fold increase over the same period of 2017.
As of August 20, 2018, the Hanoi Department of Planning and Investment had given in-principle approval to 64 projects with capital of VND159.78 trillion (US$6.87 billion), and permitter investors of 58 projects to add VND86.33 trillion (US$3.71 billion).
State budget revenue in the city in the first eight months was estimated at VND151.6 trillion (US$6.5 billion), meeting 63.6% of the year's plan, up 16.1% over the same period of 2017. Total local budget expenditure is estimated at VND42.6 trillion (US$1.83 billion), or 44.7% of the estimate.
In terms of urban management and development, Hanoi is preparing for the building of the urban administration model. In addition, the city continues to renovate urban areas, emhance environmental protection and carry out the 1-million tree planting program. The city continues to inspect, maintain, manage and operate effectively the system of irrigation works, to closely monitor the weather, take initiative in irrigation, drainage, flood and storm prevention.
Hanoi accelerates administrative reform, improves investment environment
In the last months of 2018, Hanoi will continue to direct and urge departments, branches, the People's Committee of districts, towns to implement drastically and effectively 188 development tasks, socio-economic solutions and state budget estimates in 2018.
The city steps up collection solutions of sustainable budgets, focusing on reviewing all targets and plans to speed up the budget collection, especially the revenues from land-use auction and tax collection from non-state projects, taxation from catering services, purchase of land and houses, transferring registration for vehicles and so on.
Moreover, Hanoi implements the "Year of enhancing the effectiveness of political system 2018", continues to speed up simplification of administrative procedures, reduce conditions and time, save costs of settling administrative procedures, create maximum favorable conditions for people, enterprises and organizations.
Furthermore, the city continues to accelerate administrative reform, improve the investment environment, implement the law on supporting small and medium enterprises, promote start-ups and creative innovation, deploy the comprehensive support policy on registration of new enterprises from August 1, 2018.
