Chairman of the Hanoi municipal People’s Committee Nguyen The Thao made the commitment at a meeting with the European business community in Vietnam on February 20.
He said Hanoi has organised various meetings with relevant agencies and localities to accelerate administration reform and create the optimum conditions for foreign investment attraction.
He assured his guests Hanoi will apply the “one-stop shop” mechanism and municipal leaders will address any investor concern as soon as they receive it.
When investing in Hanoi, the city will be honest with investors about weaknesses and challenges, leaving the investor to decide, he said.
Hanoi is well on its way to strong development and has already attracted a large number of key projects. It has paid due attention to international economic integration and implemented an open-door policy.
It has established relations with more than 100 cities around the world and has conducted many cooperative projects with the European Union.
Approximately 2,727 FDI projects are currently operating in the city with combined investment capital of US$21.9 billion, predominantly in real estate, information and communications technology, processing industry, manufacturing, and entertainment services.
Nineteen EU member states have invested in 290 projects worth US$2.61 billion. Top of the list is France with 68 projects, followed by Germany (44) and Denmark (42)
EU businesses’ turnover in 2012-2013 reached a phenomenal VND25.7 trillion and contributed nearly VND1.78 trillion to the State budget.
Thao revealed Hanoi encourages foreign investment in high-tech, healthcare and education projects. He suggested priority areas for EU businesses, including high quality services, financial centre, banking, trade, electronics, information technology, high-tech park construction, support industry, resort development, education and training, professional health care, hospital and environment pollution treatment.
