The event is seen as confirmation that Hanoi has strived to become a leader in following the government’s directions on establishing an open and transparent investment environment, which is commensurate with the process of globalization and the real conditions in the capital. Realizing commitments
At the 2016 conference, investors pledged to cooperate with the city with regard to 26 contents of 10 programs in the areas of communication, water infrastructure, amusement parks, housing, health services, commercial services, etc. Up until now, the committed contents have been initiated. Many programs were completed as parts of the plan or have been operated successfully such as planting 10,000 trees along Thang Long Highway, establishing an Advanced Technology Center of the Saint Paul Hospital, cleaning up the environment, reordering the city, etc.
Chairman of the Hanoi People's Committee Nguyen Duc Chung and other leaders of Hanoi at the ceremony receiving 12 street cleaning vehicles from the Tan Hoang Minh Group.
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The economy of Hanoi continued to develop quickly in the first six months in 2017 . The registered fund, apart from the national budget, was approximately over 190 trillion VND, a 75,6% increase compared to the same period in 2016. At the same time, the number of newly established enterprises in Hanoi is over 13,000 (an increase of 16%) with a total registered fund of over 101 trillion VND.
The support has not only brought realistic results but has also encouraged other companies to provide assistance. For instance, the Green Tree program. Besides the support, which was inked at the conference on June 4, 2017, the city received more than 400 mango trees from Vingroup, 2,578 camphor trees and 1,181 date palm trees from VP Pank. The Advanced Technique Center of the Saint Paul Hospital received 145 billion VND from LienVietPost Bank, 130 billion VND from Vingroup, 20 billion VND from Eurowindow, and 10 billion VND from the Thanh An Hanoi Limited Liability Company. The center has been operated since January 2017, allowing citizens to accesshigh tech health services.
Many enterprises such as VietinBank andHim Lam Joint Stock Company have actively promoted social programs and assisted construction and alteration fees for non-profit programs. Previously, many big and modern park projects have been initiated such as parks and detention basins in Cau Giay District’s Yen Hoa Ward and Kim Quy Park in Dong Anh District.
Attracting investments through policies
A high number of investment projects in Hanoi is the result of the city’s efforts and achievements in improving infrastructure and making the investment environment more transparent and efficient. Chairman of the Hanoi People’s Committee Nguyen Duc Chung emphasizes that the city considers reforms and investment environment improvement are top priorities in the 2016-2020 period. The most important task is to become a government that serves its citizens. Hanoi is committed to becoming the leader in building an e-government, and being listed among the top 10 provinces and cities in terms of the Provincial Competitiveness Index (PCI) by 2020. Especially, to attract foreign investment, Hanoi will reform the investment environment, enhance competitiveness, focus on planning, investment, land, building, and investment/business certificate, improve trade promotion, save time for citizens and businesses in legal processing.
On May 17, on the National Business Conference 2017 chaired by the Prime Minister, leaders of the Hanoi People’s Committee affirmed the city will continue finalizing specific policies and regulations to create a more efficient and transparent investment environment for investors to implement projects in Hanoi. The city will play its role in creating conditions for businesses in start-up, innovation, and creativity, and also acknowledge foreign and domestic investments as the driving force of the capital’s economic development.
Numerous projects needing capital
Hanoi has set objectives for the 2016-2021 period. These include the average GRDP growth rate to reach 8.5% to 9%; the average GRDP per capita from US$ 6,700-6,800; total investment capital to be. VND 2.5-2.6 quadrillion (an increase of 13-14%/year and about 80% are foreign investment); the average productivity growth of 6.5%/year; the rate of qualified employees to reach 70-75%; and the unemployment rate at less than 4%. Hanoi is determined to provide clean water for 100% of its citizens by 2020.“According to the masterplan, Hanoi will use water from Red, Da and Duong rivers and gradually stop the use of underground water. By 2020, the city will have 1.7 million m3 water/per day and night”. In particular, it is more and more important to preserve the landscape and environment, as well as maintain positive impacts on Hanoi. “This is a crucial task for Hanoi in the coming time, not to mention requirements for the landscape, environment and infrastructure, etc. if we want to continue to be ranked second among special cities,” said the leader of the city.
In implementing the investment policy, Hanoi has gradually made public projects which need capital. At the Hanoi 2016 – Investment and Development Conference, a 95 projects with total investment of VND 710 trillion attracted attention from both foreign and domestic investors who were looking for doing business in Hanoi.
At the Hanoi 2017 – Cooperation for Investment and Development conference , the city will continue to introduce its priorities and portfolio for the 2017-2020 period, provide experiences, technologies and solutions for the development of Hanoi in direction of civilization, integration and sustainability, sign cooperative agreements with organizations, associations and investors on trade promotion, tourism and social security, thus opening up good opportunities for domestic and foreign investors.
