Report from the Bureau of Statistics showed that the investment environment in Hanoi has made remarkable improvement, Provincial Competitiveness Index (PCI) has increased. According to the investment area, in the first 5 months of 2016, Hanoi has attracted direct foreign investment (FDI) with 139 new projects and 41 projects, bringing the total number of newly-registered capital and additional USD 1.96 billion, accounting for 19.3% of total investment capital. Real estate market continues to remain stable trend, the volume of transactions with high growth rates over the same period in 2015. Capital implementation of budget management by local authorities increased by 37.9% in 5 months year year-on-year; many projects are deployed in the province to ensure progress. Total circulation of goods, transport has increased.
Producing electronic board at Meiko Company (Japan), Thach That Industrial Park
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In the five-month period, furniture manufacturing recorded the highest growth of 139.6 percent. It was followed by the production of clothes and food processing with respective increases of 35.5 percent and 22.8 percent.
The surging index was also contributed by a significant growth in the manufacturing of transport means (21.2 percent), metal (18.6 percent) and medicine (17.2 percent). Based on the satisfactory IPI released recently, the municipal People’s Committee has forecast that the city’s industrial production is likely to reach stable growth in the near future.
The city has devised strategies with the aim of promoting growth in many sectors. It has also simplified administrative procedures, and developed preferential policies to attract more investment, with the hope to make the city’s potential market attractive to large investors. An investment promotion conference is scheduled to be held early next month, towards calling for more investment in the city.
A number of industrial sectors with high proportions reaping remarkable growth during January-July included engine vehicle manufacturing (40.9 percent), furniture (30.3 percent), pharmaceuticals and medicine (25.7 percent), wooden and rattan processing (19.3 percent), garments (17.8 percent), wood and paper (17.1 percent), mineral and non-metallic production (11.2 percent) and chemicals (9 percent).
Meanwhile, key industrial products with strong surges during the last eight months were spare parts for engine vehicles (32.9 percent), stone for building (31 percent), refrigerators (22.3 percent) and commercial electricity (9 percent). The figures show a gradual recovery of production sectors after a long stagnation caused by economic downturns. The situation is expected to be maintained during the remaining months of this year.
In June, Hanoi will host the conference "Hanoi 2016 - Investment and development cooperation". This is a conference with the largest scale so far of the city, in order to implement Resolution No. 19/2016 / NQ-CP of the Government on the tasks and key measures to improve the business environment, enhancing national competitiveness in 2 years (2016-2017), driven by 2020.
Hanoi's plans and actions showed determination in improving the investment environment, to match with potential, status and expectations of the Capital's people and the country.
