Hanoi received billions of USD in investment
According to statistics from the Hanoi Department of Planning & Investment, in the first 10 months of 2017, Hanoi has attracted FDI of 2.3 billion USD, up 3.7% compared to the same period of 2016, in which industrial processing and manufacturing contributed 40% of total investment.
As of October 30, total Foreign Direct Investment (FDI) to Hanoi reached 2.3 billion USD. In which, newly approved projects have investment of 1.05 billion USD for 454 projects. 150 projects have been adjusted in investment fund, for which an additional fund of 651 million USD was registered. Hanoi also approved funds for share acquisition of 517 foreign investors for Vietnamese enterprises, with total registered capital of 579.44 million USD.
The Nhat Tan bridge project was financed from ODA fund.
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Comparing to previous years, FDI to Hanoi in 2017 has been different and concentrated on sustainable development. Specifically, investment fund in the industrial processing and manufacturing is in the first place with 40%, real estate in the second place with 23.5%, goods production at 13%. In which, funds from Singapore are 40%, Japan in second place with 31% and Korea with 10.6%.
In order to access FDI, in 2017, Hanoi has held many conference to facilitate investment, committing favorable conditions for foreign enterprises to develop sustainably in Vietnam, such as the conference “Meeting Canada”; “Meeting the US”; taking part in “Vietnam Business Summit 2017” in the APEC Economic Leaders’ Week 2017; conference “Cooperating to facilitate investment and tourism between Hanoi and Japan”; Along with these efforts, Hanoi has successfully organized the conference Hanoi Investment Facilitation 2017. A delegation from Hanoi has been sent to Japan and signed a Memorandum of Understandings with Japanese investors for the amount up to 5.2 billion USD. In which, the BRG Corporation has signed contract of 4.138 billion USD with Sumitomo to build smart city along the route Nhat Tan – Noi Bai, which is expected to be commenced on the first Quarter of 2018.
To realize criteria to attract FDI to Vietnam, since the beginning of 2017, Hanoi People’s Committee has implemented numerous solutions for administrative reform, creating transparent legal framework for enterprises investing in Hanoi. Besides, in 2017, administrative reform in Hanoi has been a priority with significant improvements. As of present, the rate of online business registration is nearly 100%. Foreign investors now can apply for investment certification online through public online services stage 3 and 4. The land law is now reviewed and adjusted toward administrative reform, reducing the processing time in land acquisition, handing over and renting, changing the use of land to 12 days, issuing the land ownership certificate from 30 days to 14 days.
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