The 42-billion-USD smart city project is being developed along both sides of the Nhat Tan - Noi Bai Road. (Photo: thanglong.chinhphu.vn)Hanoi (VNA) – Hanoi continued to top the list of foreign directinvestment destinations in Vietnam in the first 10months of this year, raking in about 6.85 billion USD, most of which came inform of capital contributions and share purchase.
The figureleft Ho Chi Minh City, who ranked second with 4.96 billion USD, far behind.
Of the FDIflow into Hanoi, 945 million USD waspoured into new projects, while 578 million USD was added to existing ones andabout 5.33 billion USD was injected by foreign investors via capital contributionsand share purchase.
Noteworthyprojects in the period included the smart city project in Dong Anh district which costs more than 4.2 billionUSD, invested by a joint venture between BRG Group and Sumitomo Corporation ofJapan. HongKong’s BeerCo Limited spent 3.85 billion USD on acquiring a stake in Vietnam Beverage Co., Ltd, alocal unit of Thai Beverage Public Co., Ltd. Meanwhile, Japan’s Meiko Electronics added 200million USD to its facility.
According tothe municipal Department of Investment and Planning, the FDI capital flowed themost into property development, processing and manufacturing industry, tradeand services, and telecommunications and information.
In October,the capital city licenced 91 new FDI projects, worth 468 million USD, including72 wholly foreign invested and 19 associate and joint venture ones.
The month also saw ground broken at the smart city project in Dong Anh district,the biggest FDI project in Vietnam so far.
The272-hectare project stretches across over 11km along both sides of the Nhat Tan– Noi Bai Road.
It will be built in fivephases, which are all scheduled to be operational by 2028, and will applydigital technologies including smart energy management, transportation systems,security management, classroom systems, economics and smart life.
The highlight will be the108-storey financial tower, with the investors saying it will become a financialhub for not only Vietnam, but also Southeast Asia.
The Departmentof Investment and Planning said the FDI injection has been on a rise in Hanoiand was forecast to exceed 8 billion USD this year.
Thedepartment’s director Nguyen Manh Quyen noted Hanoi prioritised high-qualityprojects that produce value-added products and are competitive in pursuit ofsustainable development. Prioritised sectors include IT services,biotechnology, education, tourism, healthcare and logistics, he said.
Last year,Hanoi attracted 7.5 billion USD worth of FDI, the highest among the country’s63 provinces and cities, and more than twice as much as the 2017 figure.
Eighty percentof the city’s projects were wholly owned by foreign investors. The remainingwere associate and joint venture businesses.
Japan wasHanoi’s largest investor with total capital of 10.2 billion USD. The followersincluded Singapore (6 billion USD) and the Republic of Korea (5.5 billionUSD)./.
VNA
