Hanoi has over 14,000 new businesses in seven months
As many as 14,657 businesses were established in the capital city of Hanoi in the first seven months of 2018 with a total registered capital of over 16 trillion VND (687 million USD), down 1 percent in number but up 42 percent in capital year-on-year.
Illustrative image (Source: VNA) Hanoi (VNA) – As many as 14,657
businesses were established in the capital city of Hanoi in the first seven
months of 2018 with a total registered capital of over 16 trillion VND (687
million USD), down 1 percent in number but up 42 percent in capital year-on-year.
Director of the municipal Department of Planning and Investment Nguyen Manh Quyen revealed the information at a recent meeting of the Hanoi People’s Committee.
The city attracted nearly 6 billion USD in foreign direct investment (FDI) in January-July, 4.38 times higher than the same period last year.
In July alone, Hanoi drew 80 million USD in FDI. The capital granted new investment licences to 55 FDI projects worth 21.1 million USD and allowed 15 existing ones to increase capital of 9.8 million USD.
Among the newly licensed are the 4.1 billion USD smart urban area project, two projects of Japanese Nidec Corporation at Hoa Lac hi-tech park with combined investment of 400 million USD, the 92 million USD OPC drum production project of Japan’s Mitsubishi Chemical also at the park, the SYM Catavil Complex project worth 105 million USD, and the 90 million USD Xuan Son waste treatment plant.
The Hanoi Lotte Mall project was allowed to add 300 million USD to its capital, and the beer production plant of Heineken Hanoi Brewery, 43 million USD.
Quyen reported that Hanoi continued maintaining growth in the seven-month period.
Specifically, the city moved up one place to 13th among the 63 cities and provinces in Provincial Competitiveness Index (PCI) and second in Public Administration Reform (PAR) index, he said.
The outcomes were attributed to the city’s efforts to lure investment, remove difficulties for businesses and improve business environment.
Additionally, the city focused on calling for investment in new projects and asking specialised agencies to support investors in removing bottlenecks during the implementation of projects, he added.
Local authorities paid due attention to encouraging the establishment of new businesses and development of the private economic sector.
The city also conducted online business registration and ensured the settlement of administrative procedures for businesses, excluding dissolved ones, within three days.-VNA
Director of the municipal Department of Planning and Investment Nguyen Manh Quyen revealed the information at a recent meeting of the Hanoi People’s Committee.
The city attracted nearly 6 billion USD in foreign direct investment (FDI) in January-July, 4.38 times higher than the same period last year.
In July alone, Hanoi drew 80 million USD in FDI. The capital granted new investment licences to 55 FDI projects worth 21.1 million USD and allowed 15 existing ones to increase capital of 9.8 million USD.
Among the newly licensed are the 4.1 billion USD smart urban area project, two projects of Japanese Nidec Corporation at Hoa Lac hi-tech park with combined investment of 400 million USD, the 92 million USD OPC drum production project of Japan’s Mitsubishi Chemical also at the park, the SYM Catavil Complex project worth 105 million USD, and the 90 million USD Xuan Son waste treatment plant.
The Hanoi Lotte Mall project was allowed to add 300 million USD to its capital, and the beer production plant of Heineken Hanoi Brewery, 43 million USD.
Quyen reported that Hanoi continued maintaining growth in the seven-month period.
Specifically, the city moved up one place to 13th among the 63 cities and provinces in Provincial Competitiveness Index (PCI) and second in Public Administration Reform (PAR) index, he said.
The outcomes were attributed to the city’s efforts to lure investment, remove difficulties for businesses and improve business environment.
Additionally, the city focused on calling for investment in new projects and asking specialised agencies to support investors in removing bottlenecks during the implementation of projects, he added.
Local authorities paid due attention to encouraging the establishment of new businesses and development of the private economic sector.
The city also conducted online business registration and ensured the settlement of administrative procedures for businesses, excluding dissolved ones, within three days.-VNA
You should also see
Vietnam an attractive destination for electronics, semiconductor investors: Official
Vietnam has strong infrastructure and research and development incentives as well as a skilled workforce, making it an attractive for “eagles” worldwide in the electronics and semiconductor industry, according to Deputy Minister of Planning and Investment Tran Duy Dong.
See more
Business
Vietnam becomes biggest rice supplier for Singapore
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
Business
Cooling equipment market heats up
Many electronics supermarkets in Hanoi have launched summer promotion programmes, reducing prices for cooling equipment such as air conditioners and fans, as the weather in the north of Vietnam has just begun to be hot and sunny.
Business
Lam Dong strives to develop tea industry towards sustainable development
The Central Highlands province of Lam Dong aims to develop its tea industry to 2030 towards sustainable development by improving efficiency and fostering links between tea production, processing, and consumption. The province is also striving to replace aging tea plantations with high-quality tea varieties to enhance productivity.
Business
Vietnam treasures multifaceted cooperation with Côte d'Ivoire: Deputy FM
Vietnam always attaches importance to and wishes to bolster multifaceted cooperation with Côte d'Ivoire – its traditional friendship partner in Africa, Deputy Minister of Foreign Affairs Nguyen Minh Hang has said.
Videos
Foreign investment driven towards new breakthrough phase
Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.
