Hanoi maps out major tasks in Q4 to keep propelling growth

Hanoi will carry out a number of major tasks in the fourth quarter to further foster the city’s socio-economic growth, local authorities said on September 9.

A female worker performs her task at Rhythm Precision Vietnam Co. Ltd. in Hanoi's Noi Bai Industrial Park. Photo: Pham Hung

The city authorities will take drastic measures to speed up the disbursement of the budget for investment projects, complete the investment procedure for the construction of Ring Road 4, and address issues concerning ODA, FDI, and non-Government-funded projects.

The city will also kick start the construction of the two inland container depots (ICDs), and monitor the progress of the building of the parking area of the Aeon Mall Hoang Mai shopping mall project.

In addition, borrowers will keep enjoying a preferential level of bank interest rates, especially those under the Government’s supporting policy, and laborers will still receive some support to pay house rent.

The city will also fulfill new policies of the Government on tax deduction and exemption, and extend the deadlines for fees and taxes payment. Furthermore, the authorities will focus on strategic planning for the urban area of the city by 2050 and satellite cities and districts.

Hanoi will also fight to control inflation, assure the balance between market supply and demand, maintain the circulation of goods and commodities, stabilize selling prices, organize programs to stimulate consumption, and keep the consumer price index (CPI) below 4%.

The city will strengthen its links with other regions and provinces, and promote and advertise the quality of farm produce through One Commune – One Product (OCOP) events in the city and other provinces.

Additionally, investors will receive instructions and assistance to enhance the development of infrastructures, thus fostering the trading of goods and services.

Besides, the authorities will complete the drafting of the housing development plan for 2021-2030 with direction to 2040, and submit the plan to the city People’s Council for approval, while executing the regulation on the reconstruction of downgraded apartment buildings in the city.

Administrative agencies of the city will also work to remove obstacles in land lease, auction of land use rights, land valuation, and accomplishment of land-related obligations, as well as accelerate the development of waste and effluent treatment plants in Son Tay Town and Thanh Tri District.

Socio-economic growth expands

Truong Viet Dung, Chief of Office of the Hanoi People’s Council, said on September 9 that the total State budget revenue in Hanoi during the January-August period increased by 110.5% on-year to VND223 trillion (US$9.48 billion). The figure accounts for 71.6% of the full-year plan.

Export turnover in August was expected to gain 10% on-year to $1.42 billion and the eight-month number was forecast to rise nearly a third on-year to $11 billion, he said.

Hanoi also saw significant increases in economic and business activities in August, the official said.

The index of industrial production (IIP) in August edged up 0.9% on a monthly basis and rose 15.7% on-year. The number of domestic tourists in August increased by 45.6% to 148,000 persons and the eight-month figure jumped 83.6% to more than 950,000 persons.

The number of international visitors in August multiplied by 18.5 times from the same month of last year to 132,000 persons, while the figure in January-August nearly tripled to 477,000 persons after one year.

In August, the city granted new licenses for 24 FDI projects with a total registered capital of $10.75 million.

Also in August, Hanoi had more than 2,500 new enterprises, up 133% on-year, and their total registered capital was more than VND25.2 trillion, up 49% on-year.

Since the beginning of the year, the city had issued new licenses for more than 20,000 enterprises that had a total of VND226 trillion worth of capital. After eight months, Hanoi has a total of more than 342,000 active enterprises.

After eight months, Hanoi lured more than $992 million worth of FDI capital and issued new licenses for 226 projects with total registered capital of $141.3 million. In addition, foreign investors applied to increased capital by $374.6 million for 122 FDI projects and poured $476.2 million into existing ones.