Hanoi will take specific actions to become an ideal destination for both local and foreign investors, Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen told Hanoitimes on the sidelines of the national conference between the government and provinces/cities on December 28.

Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen.

Mr. Quyen said Hanoi has been in the top ten of the Provincial Competitiveness Index (PCI) for three consecutive years, which shows the strong efforts of the local government.

“To further improve the business/investment environment, Hanoi will continue to push for administrative reform, draft new incentive policies and provide comprehensive support for investors,” Mr. Quyen stated, adding the local government would accompany investors from early phase such as market entry, business registration to being awarded public investment  projects in Hanoi.

In the coming time, Hanoi give priority to attracting high quality foreign direct investment (FDI) projects, focusing on those with modern technologies, environmentally-friendly and technology transfer.

“Hanoi is setting up a list of projects with investment in priority fields, especially hi-tech projects,” he continued.

In 2020, Hanoi has successfully hosted the “Hanoi 2020- Investment and Development Cooperation”, which was demonstrated by the participation of nearly 2,000 delegates and over US$17.6 billion in investment capital committed by both foreign and domestic investors.

“This has been one of the key contributors to aid Hanoi’s economic recovery process, which eventually leads to an economic growth of 3.98% for this year,” Mr. Quyen asserted.