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FDI commitments to Hanoi hit US$5.1 billion YTD
Ngoc Thuy 15:50, 2019/07/29
The figure has exceeded Hanoi’s target of foreign direct investment (FDI) attraction of over US$5 billion for 2019.
FDI commitments to Hanoi as of July 23 reached US$5.11 billion, including 68 fresh projects with registered capital of US$16 million in July, according to the municipal Planning and Investment Department. 
 
Illustrative photo.
The figure has exceeded Hanoi’s target of FDI attraction of over US$5 billion for 2019. 

Upon breaking down, 475 new projects have been approved with total commitments of US$270 million in the seven-month period, while 111 existing projects have been injected an additional US$359 million. 

During this period, nearly US$4.48 billion in capital has been contributed by foreign investors via share purchases. 

Hanoi continues to remain an attractive destination for foreign investors nationwide, totaling US$14.05 billion in the 2016 – 2018 period, a 2.25-fold increase compared to the 2011 – 2015 period. 

In 2018, Hanoi attracted an all-time high of US$7.5 billion in FDI commitments, up 2.18-fold against the previous year. This has been the largest amount of FDI recorded in Hanoi after 30 years of reform and global integration, cementing the capital city as an ideal investment destination in Vietnam, said Tran Ngoc Nam, deputy director of the municipal Department of Planning and Investment, in a meeting last December. 

Hanoi continued to attract the largest portion of FDI nationwide during the six-month period of 2019, posting US$5.3 billion, accumulating a total of US$41.2 billion in registered capital so far, of which US$20.5 billion has been disbursed or 49.7% of the total.

In addition to real estate, manufacturing and processing, Hanoi has attracted large portion of FDI into high technologies, water supply, waste treatment and education, among others. 

In the remaining months of 2019, the capital sets the target of attracting high quality FDI projects in infrastructure development, smart city, logistics, trade, tourism and biotechnology. 
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