Hanoi (VNA) 🥂– The Hanoi People’s Council has approved in principle investment policies and adjustments to investment policies for 26 projects using public investment capital.

A resolution on the approval was adopted at the recent 17th session of the 16th-tenure council. Under the resolution, 22 projects have their investment policy approved, three have their investment policies adjusted and one is stopped. During the session, the council considered and passed 17 reports and 22 resolutions, which dealt with many important issues including orientations, mechanisms and measures to speed up socio-economic development and ensure social security. A project to improve capacity and safety in fire prevention, fighting and rescue as well as activities to mark the 70th anniversary of the capital’s Liberation Day were also among them. The council also endorsed a resolution on handling voters' petitions from the beginning of the 2021-2026 tenure. It requested the municipal People's Committee to strengthen leadership to seriously and fully implement the conclusions and recommendations stated in the supervision report of the council’s Standing Committee. The committee was asked to review voters’ petitions that have not yet resolved and assign relevant agencies to have specific roadmap to deal with the issues. It was reported at the session that Hanoi recorded encouraging results in investment attraction and disbursement during the first half of 2024, and is poised to push ahead with this work in the coming time. Development investment in the capital city reached 208.8 trillion VND (8.2 billion USD) during the January - June period, representing a year-on-year rise of 9.5%, according to the municipal People’s Committee. Added with 43.8 million USD registered in June, Hanoi recorded 1.165 billion USD in foreign direct investment (FDI) during the first half of 2024, comprising 1.036 billion USD for 120 new projects, 55 million USD for 78 existing projects, and 74 million USD spent on contributing capital to or purchasing shares of local companies. Thanks to the effective use of public investment capital, construction activities continued to be sped up in the first six months, the administration said, noting that together with investment attraction, it has also asked contractors and construction units to harness resources to accelerate key projects and infrastructure development, helping boost public investment disbursement. In 2024, the city has 226 public investment projects on basic construction, consisting of 155 projects launched in previous years and invested with 205.5 trillion VND in total (including 24.4 trillion VND planned to be disbursed this year), and 71 new projects worth 7.2 trillion VND (including 1.1 trillion VND to be disbursed this year). Among them, there are 58 transport projects, accounting for 19.5% of the capital plan. Key projects in the city are being accelerated so as to be completed on schedule, the People’s Committee went on. It elaborated that the Belt Road No. 4 project in the Capital Region, invested with about 12.6 trillion VND so far, has had 9.6% of its workload done. Invested with over 7.2 trillion VND from the city’s budget, the Hoang Cau - Voi Phuc section of the Belt Road No. 1 project (Phase 1) has had 32.4% of its investment capital disbursed. The project on upgrading the Ba La - Xuan Mai section of National Highway 6, with investment totalling 8.1 trillion VND funded by the city’s budget, has seen 7.5% of its capital plan allocated. The city has also disbursed about 7.3% of the 5.2 trillion VND in total investment for a project that builds a road connecting Thang Long Avenue with Hanoi - Hoa Binh Expressway./.