The capital city of Hanoi grants investment licences to 68 new foreign direct investment (FDI) projects worth 30.2 million USD in January. (Photo: thuongtruong.com.vn)Hanoi (VNA) – The capital city of Hanoi granted investment licencesto 68 new foreign direct investment (FDI) projects worth 30.2 million USD inJanuary, according to the municipal Department of Planning and Investment.
Seven existing projects were allowed to adjust their investment capital with atotal additional sum of 71.4 million USD. In the month, foreign investors werepermitted to pour nearly 40 million USD to acquire shares in Vietnamese firmsin the month.
Last year, Hanoi led the nation in terms of FDI attraction, luring 8.45 billionUSD, the highest amount in the past decade. The FDI inflow to the cityaccounted for 22.2 percent of the nation’s total FDI in 2019.
The processing and manufacturing sector remained the most alluring to foreigninvestors, followed by real estate and science and technology.
Noteworthy projects in the year included Hong Kong-based Beerco Limited’s investmentof 3.85 billion USD in Vietnam Beverage Co.,Ltd, and a 420-million USDhorse-racing complex by Charmvit Group of the Republic of Korea.
Director of the Department of Planning and Investment Nguyen Manh Quyen saidthat the city targets to attract 35-45 billion USD in FDI, equivalent to 23percent of the country’s total FDI inflows during 2020-2025.
Besides, the city needs some 3 quadrillion VND (128.78 billion USD) indevelopment investment. Therefore, it is necessary for Hanoi to acceleratereform of administrative procedures, improve its business climate, removebottlenecks for local firms as well as promote startup and innovation, Quyensaid./.
VNA
