November 22, 2019 14:29

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Hanoi retains lead nationwide in FDI attraction

18:25 | 03/06/2019

As of present Hanoi has total of 4 850 ongoing foreign invested projects with accumulated capital of US 41 2 billion

hanoi retains lead nationwide in fdi attraction

Hanoi remains the top destination for foreign direct investment (FDI) in Vietnam in the first five months of 2019, with US$4.75 billion, equivalent to 28.64% of the total nationwide, according to the municipal Planning and Investment Department.

Ho Chi Minh City came second with US$2.78 billion or 16.6% of the total investment, followed by Binh Duong with over US$1.25 billion, accounting for 7.4% of total investment.

In the five-month period, Hanoi has approved 280 new projects with total commitments of US$162 million, while 75 existing projects have been injected an additional US$295.7 million.

During this period, 380 projects have had US$4.3 billion in capital contributed by foreign investors.

As of present, Hanoi has a total of 4,850 ongoing foreign-invested projects with accumulated capital of US$41.2 billion, of which, the disbursement rate accounts for 49.7% of the total or US$20.5 billion.

Manufacturing and processing continued to attract substantial attention with investment capital contributing to 37.2% of total FDI approvals.

Both real estate and trade-services were the second most heavily invested sectors, with 31.2% of total registered capital, followed by forestry – fishery - agriculture with 0.18%.

The data shows that Japan has been the top investor in Hanoi to date with US$10.24 billion, followed by Singapore with US$6.6 billion, while the third place belongs to South Korea with US$5.52 billion.

Hanoi has seen a total of nearly 10,648 enterprises registered for new establishment in the first five months of 2019, with registered capital of a combined VND100.87 trillion (US$4.33 billion).

This resulted in an increase of 10% in the number of enterprises and 1% rise in registered capital year-on-year.

The number of enterprises temporarily ceasing operation in the period was 4,137, up 25% year-on-year. Moreover, the number of enterprises which finished the procedures for bankruptcy in the first five months of this year was 834, an increase of 46% from the same period last year.

Hanoi continues to maintain the 100%-rate of online business registration without delay in administration procedures.

This is in line with the local authority’s efforts to support businesses’ operation in Hanoi, from business registration to project implementation, while ensuring a transparent and fair business environment with no discrimination in accessing land and financial resources.

In June, Hanoi is scheduled to hold its annual investment promotion conference and push for greater business and investment environments through addressing shortcomings in master planning, issuance of investment and business licenses.

Source: Hanoi Times