Hanoi takes lead in nine-month FDI attraction

Tuesday, 2018-10-02 13:17:58
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Workers are rushing to finish the final phase of the overpass at the An Duong-Thanh Nien intersection (Photo: VNA)
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NDO - Hanoi attracted approximately US$6.26 billion worth of foreign direct investment (FDI) in the first nine months of this year, 5.4 times higher than the same period last year, becoming the leading city in nine-month FDI attraction.

"The economy of the capital city continues to expand with good socio-economic results. The national defence and social order are ensured while the Party building and the political system are consolidated," said Secretary of Hanoi Party Committee Hoang Trung Hai at the 15th meeting of the Hanoi Party Committee on October 1.

According to Director of Hanoi Department of Planning and Investment Nguyen Manh Quyen, Hanoi's Gross Regional Domestic Product (GRDP) rose by 7.17% in the first nine months of this year and the city's export revenue was estimated at US$10.51 billion, an annual increase of 21.6%.

The tourism sector also reported impressive results as Hanoi welcomed 19.7 million visitors in the nine-month period, up 9.2% over the same period in 2017, including 4.3 million foreign arrivals, up 20% against the corresponding period last year.

However, the city revealed a number of inadequacies including traffic congestion, floods during heavy rains, slow progress in the building of waste water treatment plants at industrial zones, and the delay in the disbursement of public investment.

Addressing the meeting, Secretary of Hanoi Party Committee Hoang Trung Hai spoke highly of Hanoi achievements during the nine-month period while asking for joint efforts to address inadequacies, particularly issues related to traffic safety, infrastructure building projects, land clearance and management of apartment buildings.

He noted that several construction works will be put into operation in upcoming months to meet expectations of the people including the overpass at the An Duong-Thanh Nien intersection, the Duong water supply plant and the Cat Linh-Ha Dong elevated railway.