Hanoi economy shows rosy signs in first five months
Hanoi drew 1.6 billion USD in newly-registered and additional capital from foreign direct investment (FDI) projects in the first five months of this year.
Hanoi (VNA) – Hanoi drew 1.6 billion USD in newly-registered and addit𓂃ional capital from foreign direct investment (FDI) projects in the first five months of this year.
The figure represents a three-fold increase from the same period in 2015 and meets 78.9 percent of the target, according to Nhan Dan (People’s) newspaper.
From January to May, up to 9,367 businesses were established in Hanoi with combined capital of 74.6 trillion VND (3.36 billion USD), up 59 percent over the same period last year.
FDI worth nearly 10.16 billion USD flowed into Vietnam in the first five months of this year, an increase of 136.4 percent from the same period last year, according to the Ministry of Planning and Investment.
As of May 20, Vietnam had 907 new FDI projects with a total registered capital of 7.56 billion USD, a year-on-year rise of 155.9 percent while 425 adjusted-capital projects brought in 2.59 billion USD, up 93.3 percent from last year.
Some 5.8 billion USD was disbursed, rising 17.2 percent against a year ago.
A large amount of the investment was in the processing and manufacturing sector. The Republic of Korea remains the top investor among 45 countries and territories that invested in Vietnam in the period.-VNA
The Hanoi economy is picking up steam in almost areas with its gross domestic product for this year estimated at 8.8 percent, still within the target of 8.5-9 percent.
Hanoi economy is expected to grow at 7.8 percent during the first half of this year - the fastest pace in four years, reported the Ha Noi Moi (New Hanoi) daily newspaper.
The entire political system’s determination coupled with the people’s unity, consensus, material contributions, and brainpower have brought about significant socio-economic developments for Hanoi over
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative image (Source: VNA)
