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Vietnam Today

Hanoi calls for investment

Released at: 14:08, 25/08/2015

Hanoi calls for investment

Capital holds conference to seek investment and discuss how to assist existing investors.

by Hoai An

On August 24 the Hanoi People’s Committee held the “Conference on Investment Promotion in Hanoi 2015” to call for investment and help investors implement their projects.

According to Deputy Chairman of the People’s Committee, Mr. Nguyen Ngoc Tuan, investment activity in the city is heading in a positive direction in terms of both quantity and quality. Total investment for development in the last five years reached more than VND1,400 trillion ($65.7 billion), nearly double the figure recorded in the 2006-2010 period.

Foreign investors play a particularly important role. Hanoi is now one of Top 3 foreign investment destinations in Vietnam, with over 3,300 projects from 66 countries and territories and total registered capital of $26.5 billion. Mr. Tuan said the city introduced eleven projects at the conference seeking investment, in the fields of industry, trade, services, and infrastructure.

The Director of the Foreign Investment Agency under the Ministry of Planning and Investment, Mr. Do Nhat Hoang, outlined several advantages Hanoi holds in attracting investment. It is the center of economics, politics and culture in Vietnam, with convenient transport infrastructure and a high-quality workforce that can satisfy diverse economic forms. It is also the second-largest consumer market in the country in terms of scale and purchasing power.

He also made some recommendations for promoting further investment. Local authorities should focus on resolving problems during site clearance and shorten the time for granting investment licenses and completing other procedures, to assist investors.

The Chairman of the Hanoi People's Committee, Mr. Nguyen The Thao, said that the city is focused on attracting investment in exports, high-tech, training, human resources development, infrastructure development, industrial support, and high-quality services. Local authorities are committed to creating a liberal, transparent and consistent investment environment in line with the international integration process and implementing policies that support and resolve problems facing investors, creating a favorable environment.

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