Hanoi’s development investment increases by 8.5% year on year


Hanoi: The development investment in Hanoi in the first quarter of 2024 increased by 8.5% to 86.6 trillion VND (3.48 billion USD) compared to the same period last year, the municipal People’s Committee has announced.

Of the total investment, 31.4 trillion VND was from the State, 48.7 trillion VND from the non-State sector and 6.5 trillion VND from direct foreign investment (FDI), which saw year-on-year increases of 10%, 8.2% and 4.4%, respectively.

By investment categories, 60.6% of the city’s development investment in the first quarter of this year was channeled into basic construction. Funding for purchasing fixed assets for production; major repairs and asset upgrades; additional working capital and other investment capital also increased.

In March, Hanoi licenced 15 new FDI projects with total registered capital of 33.1 million USD. In addition, 14 operating projects were permitted to increase by 12.5 million USD in total. Nine foreign investors contributed capital and bought shares with combined inves
tment of 1.8 million USD.

In the first quarter of 2024, the city attracted 946.8 million USD in FDI. Of that, 42 new projects were licenced with total capital of 902.6 million USD; 31 projects increased their investment by 21.6 million USD; foreign investors contributed capital and purchased shares worth 22.6 million USD.

Besides activities to attract investors, Hanoi has paid much attention to speeding up infrastructure development projects, particularly transport ones such as Ring Road No. 4 running through Hanoi, Hung Yen and Bac Ninh; Hoang Cau-Voi Phuc section of Ring Road No. 1; upgrading Ba La-Xuan Mai section of National Highway No. 6; and Tay Thang Long route from Vo Chi Cong street (Tay Ho district) to Son Tay township./.

Source: Vietnam News Agency

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