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Hanoi got $41.4B in investments in Jan-June
Publication Date : 10-07-2014
The Vietnam's capital attracted US$560 million of foreign direct investment (FDI) in the first half of the year, representing a 14-per cent year-on-year increase.
The Vice Chairman of the municipal People's Committee, Vu Hong Khanh, told a conference in Hanoi yesterday that FDI disbursement in the period rose by 6.5 per cent to $405 million over the same period last year.
"Production and businesses of FDI enterprises in Hanoin have not been substantially affected by the escalating tension in the East Sea," Khanh said.
He said total investments in the city between January and June was estimated at 871.1 trillion dong ($41.4 billion), increasing 10.2 per cent from year-ago level.
Out of the city's budget, 7.7 trillion dong ($366.7 million) was spent for development, accounting for 44 per cent of the whole year's target.
He added that Hanoi had been focusing on implementing ODA ( official development assistance) projects with disbursement of 1.43 trillion dong ($68.1 million).
The city has been rushed to complete 22 key projects by 2015.
It has done its planning on improving the business environment as well as increasing its provincial competitiveness index (PCI). It carried out meetings with around 70 businesses in the capital to quickly solve their difficulties while continuing to apply policies on preferential lending rates.
Statistics from the committee showed that by the end of May, the city had 6,150 businesses registered for operations with total capital 33.2 trillion dong ($1.58billion), down by 1.5 per cent from last year.
More than 5,300 firms stopped their operations, representing a 4.7 per cent year-on-year increase, of which 848 companies are implementing insolvency procedures.
He said the city would continue to resolve its difficulties in agriculture, rural areas, export products and support industry. It has supported small and medium sized enterprises with low lending rates between 7 and 8 per cent, he added.