Over VND200 trillion pledged to Hanoi at investment conference

Monday, 2017-06-26 11:45:44
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Hanoi leaders award investment licences to investors.
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NDO - Hanoi has granted investment licences to 48 projects worth VND74.4 trillion (US$3.3 billion) at a conference on June 25 to promote investment in Hanoi, more than double the figure pledged at the same conference last year.

The city also signed several memoranda of understanding with investors to facilitate the pledge of an additional VND134.8 trillion (US$5.9 billion) in other projects, raising total investment pledges at the conference to US$9.2 billion.

Hanoi Secretary Hoang Trung Hai said the conference was designed to realise the Party resolution on developing the private sector into a key driver of the economy and the government’s commitment to support enterprises.

He said the capital city has determined the private sector as the key to dealing with the problems associated with a large metropolis and restructuring its economy.

Speaking at the event, Prime Minister Nguyen Xuan Phuc said the spirit of a facilitative government has received a warm welcome from the business community but it must ensure it does not simply stop at words which fail to be translated into action across the board.

He hailed the Hanoi leadership’s efforts to improve the business climate and urged the city to work effectively each and every day to attract investors and the elites in order to build Hanoi into a civilised, modern and green global city.

Recalling Emperor Ly Thai To’s decision to relocate Vietnam’s capital to Hanoi more than 1,000 years ago, PM Phuc stated that Hanoi must be a city where the seeds of start-ups and business aspirations which extend beyond the Vietnamese border are sown.

Over the last 20 years, Hanoi has recorded an annual growth average of 9.5%, helping its size to grow from 8.2% of the national economy to 13.6% and contributing more than 16.5% of Vietnam’s total government revenue.