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Hanoi plans to start construction of 20 industrial clusters in 2023
Ngoc Mai 22:10, 2023/09/01
The city remains committed to enhancing the investment climate to attract high-tech and supporting industry investments.

Hanoi expects to start constructing 20 industrial clusters this year while promoting infrastructure investment within the city’s network of industrial parks and clusters.

 Phu Nghia Industrial Park in Hanoi. Photo: Nguyen Duong/The Hanoi Times

The move is part of the city’s plan to boost industrial production during 2023.

Intending to achieve a 75% increase in industry value-added and successfully meet the city’s 2023 GRDP growth target, the Hanoi People's Committee has tasked the Department of Industry and Trade with effectively managing market information.

This includes providing guidance and assistance for enterprises to tap into traditional markets and explore new and promising markets such as Northern Europe, Eastern Europe, Western Asia, South Asia, Africa, and Latin America. Furthermore, public awareness campaigns emphasize raising awareness about free trade agreements (such as EVFTA, CPTPP, and RCEP).

Efforts will be made to innovate and enhance the efficiency of trade promotion activities. This involves connecting domestic producers and businesses to stimulate domestic market consumption, thereby reducing inventory.

The strategy also involves linking domestic enterprises with foreign counterparts to identify partners, secure orders, and access markets through trade conferences, fairs, and exhibitions.

The campaign "Vietnamese people give priority to using Vietnamese goods" will be actively supported alongside the promotion of product presence on e-commerce platforms, particularly those with a cross-border scope.

Additionally, the adoption of digital transformation, technology applications, and knowledge transfer, as well as the establishment of smart factory models and sustainable production practices, will be a focal point.

The municipal administration is also urging various departments and sectors to concentrate on eliminating obstacles and implementing policies that facilitate favorable credit access for businesses, encompassing reasonable terms, loan rates, and interest rates.

They will conduct reviews to address issues linked to value-added tax refunds, as well as consider extensions and reductions in certain taxes, fees, and land rents, as authorized by competent bodies.

These measures are intended to create a conducive environment for enterprises to advance their production and business endeavors, noted the plan.

Simultaneously, there is a steadfast commitment to continually enhancing the investment climate for attracting high-tech industry and supporting industry investments. A primary objective is to kick-start the construction of 20 industrial clusters within the year 2023. Likewise, efforts are directed at enticing investments into the infrastructural development of industrial zones and clusters in the city.

At present, Hanoi boasts 10 fully operational industrial parks spanning a combined area of 1,347.42 hectares. Among these, nine industrial parks encompassing 1,270 hectares are nearly at full occupancy, with usage rates approaching 100%. Additionally, the city has established 70 operational industrial clusters, encompassing a planned area of 1,686 hectares. 

These industrial parks and clusters have drawn in a total of 706 operational projects. Among these, there are 302 foreign direct investment (FDI) projects with a registered capital surpassing US$6.4 billion, as well as 404 domestic direct investment projects with a registered capital exceeding VND18.6 trillion ($770 million).

TAG: Hanoi news Hanoi industrial parks Vietnam news hanoi infrastructure development hanoi investment news
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