FDI commitments in 2020 fell nearly 25% year-on-year to US$28.5 billion.

To ensure that the city stays on track to realize the public investment target for this year, the Hanoi’s Mayor requested local authorities to push for speedier construction progress and finalization of payment procedures for completed work items.

Considered as Hanoi’s top priority to ensure economic recovery in the post Covid-19 pandemic era, the city is aiming to disburse 100% of the target amount this year.

As of November 10, the disbursed amount of public funds in Hanoi stood at VND22.35 trillion (US$965.35 million), or 57.5% of the target set by the government.

Hanoi has set up six task force teams specialized in accelerating disbursement of public funds.

The result shows strong improvements in disbursing public funds in the first nine months this year.

Hanoi targets an economic growth rate of at least 5% in the fourth quarter to ensure the goal of having GRDP growth 1.3 times as high as the national average.

As the disbursed amount between January and August was equivalent to 50.7% of the target, the government is under pressure to spend the remaining 50% in the remaining four months.

At present, Hanoi gives utmost priority to containing the Covid-19 pandemic while continuing strong efforts in improving the business environment and addressing businesses’ concerns.