Hanoi's economy records a remarkable recovery
Hanoi’s economic structure saw positive changes with the proportion of service and industry-construction sectors increased, while that of agriculture sector declined.
The city’s economy has recorded stable development and remarkable results since Vietnam joined the World Trade Organisation (WTO) in 2007.
The city’s average gross regional domestic product (GRDP) growth reached 9.85% during 2007-2014.
According to the General Statistics Office, the industrial production index (IPI) in Hanoi in the first eight months of this year grew by 7.4% against the same period last year.
In August alone, Hanoi’s IPI increased by 1.3% against July and 7.1% yearly.
The largest year-on-year increase was recorded in the electrical production and distribution sector with 9%, followed by the processing & manufacturing and water supply & waste water collection and treatment sectors with respective rises of 7.6% and 1.6%.
The key industrial products with strong surges from January-August were spare parts for engine vehicles (32.9%), stone for building (31%), refrigerators (22.3%) and commercial electricity (9%).
The figures showed a gradual recovery of production sectors after a long stagnation caused by economic downturns.
The situation is expected to be maintained during the remaining months of 2015.
Hanoi is one of the three leading localities nationwide in foreign direct investment (FDI) attraction, accounting for 17.3% in the number of projects and 9.32 percent in the amount of registered FDI in the country, according to the Ministry of Planning and Investment.
At present, more than 2,000 local enterprises are engaging in import-export activities in over 200 countries and territories.
The municipal authorities have paid special attention to assisting businesses in accessing capital sources, while promoting administrative reform, especially in tax procedure, in order to facilitate enterprises’ production and business activities.
According to statistics from the municipal People’s Committee, by the end of 2014 , Hanoi attracted 3,169 FDI projects with total investment of 26.3 billion USD.
As of June 20 this year, the city was chosen as the destination of 3,206 foreign-invested projects with a combined investment capital of more than 24 billion USD.
The city’s average gross regional domestic product (GRDP) growth reached 9.85% during 2007-2014.
According to the General Statistics Office, the industrial production index (IPI) in Hanoi in the first eight months of this year grew by 7.4% against the same period last year.
In August alone, Hanoi’s IPI increased by 1.3% against July and 7.1% yearly.
The largest year-on-year increase was recorded in the electrical production and distribution sector with 9%, followed by the processing & manufacturing and water supply & waste water collection and treatment sectors with respective rises of 7.6% and 1.6%.
The key industrial products with strong surges from January-August were spare parts for engine vehicles (32.9%), stone for building (31%), refrigerators (22.3%) and commercial electricity (9%).
The figures showed a gradual recovery of production sectors after a long stagnation caused by economic downturns.
Photo for illustration
|
Hanoi is one of the three leading localities nationwide in foreign direct investment (FDI) attraction, accounting for 17.3% in the number of projects and 9.32 percent in the amount of registered FDI in the country, according to the Ministry of Planning and Investment.
At present, more than 2,000 local enterprises are engaging in import-export activities in over 200 countries and territories.
The municipal authorities have paid special attention to assisting businesses in accessing capital sources, while promoting administrative reform, especially in tax procedure, in order to facilitate enterprises’ production and business activities.
According to statistics from the municipal People’s Committee, by the end of 2014 , Hanoi attracted 3,169 FDI projects with total investment of 26.3 billion USD.
As of June 20 this year, the city was chosen as the destination of 3,206 foreign-invested projects with a combined investment capital of more than 24 billion USD.
15:17, 2024/11/04
Hiring multitaskers: Priority for Hanoi companies
Several sectors experience increased hiring demand in the remaining months of 2024
18:17, 2024/11/03
Hanoi seeks partnerships to build skilled workforce for digital transformation
Vocational training institutions play important roles in developing a quality workforce prepared for large companies.
18:35, 2024/10/30
Hanoi to host Vietnam-Asia Smart City Summit 2024
The summit aims to share best practices and promote cooperation among Vietnam's provinces and cities in building and developing smart cities.
15:53, 2024/10/29
Vietnamese spend $8.9 billion on ecommerce
The total transaction volume in the Jan-Sep period increased by 37.7% compared to the same period last year.
14:48, 2024/10/29
Hanoi steps up inspections to crack down on unsafe food
The purpose of the survey is to gain a thorough understanding of the local food safety situation and to identify non-compliance promptly, allowing for corrective actions to be taken to mitigate health risks.
22:24, 2024/10/23
SEMIEXPO Vietnam 2024 to foster growth of semiconductor industry
The exhibition aims to develop the ancillary industry ecosystem and attract investment from the world's leading semiconductor companies.
- Hanoi targets double-digit growth over next decade
- Hanoi's industrial production shows positive growth
- Hanoi launches Vietnamese Fashion Product Brand Festival 2024
- Exhibition promotes Hanoi's key industrial products
- New partnerships forged at Hanoi Industrial Development Conference
- Hanoi addresses administrative challenges through dialogues