RoK President Moon Jae-in (L) and Chairman of the Hanoi People’s Committee Nguyen Duc Chung (R) at the Vietnam-RoK Business Forum (Source: VNA)Hanoi (VNA) –Hanoi has defined resources from investors, especially those from the Republicof Korea (RoK), as one of important factors deciding the success of the capital’simplementation of development goals and orientations, said a senior local official.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung made the statementwhile addressing a Vietnam-RoK Business Forum in held in the city on theoccasion of the State visit of RoK President Moon Jae-in.
Currently, Hanoi is oneof the three most favourite investment destinations for foreign investors, henoted, adding that in 2016-2017 period, the city lured 6.5 billion USD inforeign direct investment, ranking second among localities nationwide in FDIattraction.
Meanwhile, Hanoi isamong cities with highest growth of 8 percent per year annually he said, highlightingthat the city is a safe investment destination with stable politicalenvironment.
With 8 million people,Hanoi is the second most crowded locality in the country, said Chung, highlightingthe city’s advantages such as young labourers, which account for 60 percent ofthe labour force, and the improved infrastructure system in industrial parks.
The capital city isalso popular to foreign tourists. From the city, visitors can easily reachother tourist destinations such as Ha Long Bay, Trang An heritage site and SaPa resort town.
In 2017, Hanoi welcomed23.8 million visitors, up 9 percent year on year, including 4.95 million foreigners,a rise of 23 percent.
Hanoi’s provincialcompetitiveness index has increased through years, ranking 13 out of 63localities nationwide in 2017.
Currently, it ishosting 1,500 RoK-invested projects worth 5.4 billion USD. In 2016 and 2017,the city lured 420 projects with total investment of 730 million USD.
Last year, Hanoi’sexports to the RoK reached 445 million USD, accounting for 3.8 percent of thecity’s total export value. Meanwhile, the city imported 3.3 billion USD worthof goods from the RoK, or 11 percent of its imports.
Nearly 600,000 RoKvisitors came to Vietnam, a surge of 59 percent over 2016.
A recent survey amongFDI firms in Hanoi showed that 43 percent of RoK enterprises wished to expandoperation.
Hong Sun from the RoKBusiness Association in Vietnam said that total number of RoK firms investingin Vietnam reached over 6,500 as of 2017, of which over 1,000 firms opened representativeoffices in Hanoi.
He held that in thecoming time, the figure will continue increasing.
Chairman Chung saidthat Hanoi hopes for more RoK-invested projects in areas of the RoK’s strengthsuch as electronics, information technology, green industry, power saving, satelliteurban area construction, and infrastructure for industrial parks and logisticscentres.
“Hanoi commits to continueimproving its investment and business environment, making it more open,transparent and effective,” he said, vowing to accompany with and create favourableconditions for investors in the city.
Chung expressed hisbelief in the further success of RoK firms in Hanoi thanks to efforts of thecity and the New Southern Policy of the RoK.-VNA
VNA
