Hanoi attracted over 2.6 billion USD in foreign direct investment (FDI) in the first ten months of this year, which made it the third largest destination of FDI in the country during the period, Deputy Director of the city’s Department of Planning and Investment Nguyen Ngoc Tu said on November 14.
Workers produce sausage at the factory of the Thailand-invested CP Vietnam Livestock JSC in Hanoi. (Photo: VNA)
Hanoi (VNA) – Hanoi attractedover 2.6 billion USD in foreign direct investment (FDI) in the first ten monthsof this year, which made it the third largest destination of FDI in the countryduring the period, Deputy Director of the city’s Department of Planning andInvestment Nguyen Ngoc Tu said on November 14.
At a meeting of the municipal administration to review thecity’s FDI attraction in the past months, Tu also said the city expects to attractabout 484.8 million USD in the two remaining months of this year.
The city will strive to get about 3.15 billionUSD in FDI next year and about 2.7 billion USD in 2025.
Tu said that as the country is entering a period of deeper economic integration, Hanoi considers the business community ingeneral and FDI businesses in particular a key driver of the city’s economicgrowth and integration.
Speaking at the meeting, Vice Chairman of themunicipal People’s Committee Nguyen Manh Quyen requested departments, branchesand local authorities to intensify administrative procedure reforms, promptly solve obstacles and boost investment promotionactivities.
He also asked managers of industrial parks inthe city to improve their infrastructure.
🅰 Investment promotion activities must be carriedout economically, practically and effectively. Relevant departments andagencies should provide sufficient information and timely support toinvestors, he said./.
While some southern localities have fulfilled their targets for FDI attraction, the clock is ticking for many others to complete their goals since there are only 1.5 months left to the end of 2023.
The southern province of Ba Ria-Vung Tau has attracted 20 foreign-invested projects worth 751 million USD since the beginning of this year, five projects higher and a 2.78-fold increase in capital compared to the same period last year.
In the first 10 months of this year, Vietnam’s average consumer price index (CPI) increased 3.2 percent, foreign direct investment rose 14.7 percent, a trade surplus of 24.61 billion USD was recorded, and international visitors increased 4.2-fold compared to the same period of 2022.
Total newly-registered investment capital, additional capital, contributed capital for share purchases, and contributed capital from foreign investors totalled 25.762 billion USD in the first 10 months of 2023, an increase of 14.7% over the same period of 2022 and the highest increase since the beginning of this year.
The northern port city of Hai Phong remained the biggest magnet for foreign direct investment (FDI) inflows in the first 10 months of this year, attracting nearly 3.1 billion USD, up 68% year on year, or equivalent to over 153% of the yearly target, said Chief of the Office of the municipal People’s Committee Nguyen Ngoc Tu.
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Workers produce sausage at the factory of the Thailand-invested CP Vietnam Livestock JSC in Hanoi. (Photo: VNA) 
