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Hanoi sees positive economic performances in July
Ngoc Thuy 15:42, 2018/07/31
In 2018, Hanoi aims to achieve a GRDP growth target of 7.3-7.8%.
In July, most of Hanoi's key economic indicators saw improvements, painting a positive economic picture of the capital.
 
Illustrative photo.
Illustrative photo.
Hanoi's industrial production index remained stable with a growth rate of 2.3% month-on-month and 8.3% year-on-year, said Nguyen Manh Quyen, director of the municipal Department of Planning and Investment, at a meeting on Tuesday morning. 

Industrial production value in July reached VND48.2 trillion (US$2.06 billion), up 3.6% month-on-month and 9.6% year-on-year, accumulating a total of VND318.3 trillion (US$13.6 billion), up 9% year-on-year. 

Exports in July climbed 2.3% month-on-month and 29.2% year-on-year to US$1.32 billion, reaching US$7.74 billion in seven months, up 17.3% year-on-year. 

Some of the export staples with high growth rate compared to the same period of last year included agricultural products with 108.6%, petroleum products with 94.9% and equipment with 14.6%. 

Meanwhile, imports in July totaled US$2.66 billion, up 2.1% month-on-month and 6.8% year-on-year, mainly due to high import demands of steel (up 21.3%), chemicals ( up 46.2%), plastics (up 25.5%), and petroleum products (up 29.5%). 

Overall, the city's import turnover in the January - July period reached US$17.73 billion, up 7.3% year-on-year. 

Total mobilized capital of credit institutions in Hanoi as of end-July grew 1.7% month-on-month and 8.2% compared to December 31, 2017 to reach VND2,854 trillion (US$122.24 billion), meeting capital demands for business and production, the department said. 

Volume of cargo transported in July was reported at 65 million tons, up 0.3% month-on-month and 9.3% year-on-year, while 49 million passengers were served, up 0.2% month-on-month and 11.1% year-on-year. 

In July, Hanoi welcomed 288,000 foreign visitors, up 9.2% month-on-month and up 1.1% year-on-year, while domestic travelers to Hanoi reached 997,000, up 0.6% month-on-month and 20.7% year-on-year. 

This resulted in revenue from tourism-related services of VND5.24 trillion (US$224.54 million) in July, up 1.1% month-on-month and 3.2% year-on-year, totaling VND37.7 trillion (US$1.61 billion) in the seven-month period, up 8.8% year-on-year. 

Overall, foreign visitors to Vietnam in the first seven months jumped to 2.44 million, up 20.5% year-on-year, while domestic travelers were 6.62 million, up 15.5% year-on-year. 

Notably, Hanoi's provincial competitiveness index (PCI) was ranked 13 out of 63 provinces and cities in 2017, up one rank compared to the previous year, while the public administration reform index (PAR) took the second place out of 63 provinces and cities, up one rank against 2016. 

In the first seven months, Hanoi had a total of 14,675 newly established enterprises with registered capital of VND16.1 trillion (US$689.3 million), up 42% year-on-year in terms of capital and down 1% in quantity. 

Hanoi also attracted US$80 million in foreign capital in July, of which 55 new projects have been approved with total investment capital of US$21.1 million,  while 15 existing projects have injected an additional US$9.8 million, and capital contribution in 29 enterprises worth US$49 million. 

In total, foreign capital inflows to the capital in the first seven months reached US$6 billion, 4.4-fold higher than that in the same period of last year. 

In 2018, Hanoi aims to achieve a GRDP growth target of 7.3-7.8%. Along with this target, Hanoi strives to grow its service sector by 6.9-7.5% and the industry and construction sector by 8.2%-8.7%. Additionally, export turnover growth is expected to reach 7.5-8%.
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