According to the municipal Department of Planning and Investment, Hanoi attracted an additional US$992.4 million in FDI in the first nine months of this year, up 15% year on year, including US$141.3 million invested in new projects.
FDI projects are mostly in the fields of import and export, goods distribution, construction, information technology, telecommunications, processing and manufacturing.
FDI projects have played an important role in promoting the city’s economic development, serving as a driving force for its exports and technology renovation.
Particularly, the FDI sector has helped expand the export market and supported domestic firms in joining the global supply chain through the supply of materials and business cooperation.
Hanoi’s attraction for investors is due, among other things, to the development of its infrastructure system. As one of the largest economic and cultural centers in the country, it also attracts more qualified human resources compared to other localities.
In the 2021-2025 period, the city plans to establish two to five new industrial parks, aiming to meet the demand of investment attraction and industrial production development.
By 2030, the city expects to have 159 industrial clusters to meet investor demand. Hanoi already attracts nearly 3,900 firms and more than 60,000 laborers.
The city will continue to implement administrative reform to speed up industrial zone infrastructure construction. This will promote domestic and foreign investment attraction, gradually contributing to the country’s industrialization and modernization.
Source: Vietnam Economic News