Econ
Hanoi's economy records a remarkable recovery
Hanoi’s economic structure saw positive changes with the proportion of service and industry-construction sectors increased, while that of agriculture sector declined.
The city’s economy has recorded stable development and remarkable results since Vietnam joined the World Trade Organisation (WTO) in 2007.
The city’s average gross regional domestic product (GRDP) growth reached 9.85% during 2007-2014.
According to the General Statistics Office, the industrial production index (IPI) in Hanoi in the first eight months of this year grew by 7.4% against the same period last year.
In August alone, Hanoi’s IPI increased by 1.3% against July and 7.1% yearly.
The largest year-on-year increase was recorded in the electrical production and distribution sector with 9%, followed by the processing & manufacturing and water supply & waste water collection and treatment sectors with respective rises of 7.6% and 1.6%.
The key industrial products with strong surges from January-August were spare parts for engine vehicles (32.9%), stone for building (31%), refrigerators (22.3%) and commercial electricity (9%).
The figures showed 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 2015.
Hanoi is one of the three leading localities nationwide in foreign direct investment (FDI) attraction, accounting for 17.3% in the number of projects and 9.32 percent in the amount of registered FDI in the country, according to the Ministry of Planning and Investment.
At present, more than 2,000 local enterprises are engaging in import-export activities in over 200 countries and territories.
The municipal authorities have paid special attention to assisting businesses in accessing capital sources, while promoting administrative reform, especially in tax procedure, in order to facilitate enterprises’ production and business activities.
According to statistics from the municipal People’s Committee, by the end of 2014 , Hanoi attracted 3,169 FDI projects with total investment of 26.3 billion USD.
As of June 20 this year, the city was chosen as the destination of 3,206 foreign-invested projects with a combined investment capital of more than 24 billion USD.
The city’s average gross regional domestic product (GRDP) growth reached 9.85% during 2007-2014.
According to the General Statistics Office, the industrial production index (IPI) in Hanoi in the first eight months of this year grew by 7.4% against the same period last year.
In August alone, Hanoi’s IPI increased by 1.3% against July and 7.1% yearly.
The largest year-on-year increase was recorded in the electrical production and distribution sector with 9%, followed by the processing & manufacturing and water supply & waste water collection and treatment sectors with respective rises of 7.6% and 1.6%.
The key industrial products with strong surges from January-August were spare parts for engine vehicles (32.9%), stone for building (31%), refrigerators (22.3%) and commercial electricity (9%).
The figures showed a gradual recovery of production sectors after a long stagnation caused by economic downturns.
Photo for illustration
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Hanoi is one of the three leading localities nationwide in foreign direct investment (FDI) attraction, accounting for 17.3% in the number of projects and 9.32 percent in the amount of registered FDI in the country, according to the Ministry of Planning and Investment.
At present, more than 2,000 local enterprises are engaging in import-export activities in over 200 countries and territories.
The municipal authorities have paid special attention to assisting businesses in accessing capital sources, while promoting administrative reform, especially in tax procedure, in order to facilitate enterprises’ production and business activities.
According to statistics from the municipal People’s Committee, by the end of 2014 , Hanoi attracted 3,169 FDI projects with total investment of 26.3 billion USD.
As of June 20 this year, the city was chosen as the destination of 3,206 foreign-invested projects with a combined investment capital of more than 24 billion USD.
