Hanoi’s economy expands 3.39% in first six months

Tuesday, 2020-06-30 13:17:21
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The industry-construction sector expanded by 5.94% during the six-month period. (Illustrative image)
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NDO – Hanoi’s gross regional domestic product (GRDP) during the first six months of 2020 rose 3.39% compared to the same period last year, as announced by the Hanoi Statistics Office on June 29.

The industry-construction sector expanded by 5.94% while the service sector increased only 2.59%, due to heavy affects from the COVID-19 pandemic, and the agriculture sector rose 1.61%.

In the six-month period, Hanoi also attracted US$1.2 billion worth of foreign direct investment (FDI), up 4.9% over the same period last year. More than 12,600 enterprises were granted with investment licenses during the period with total registered capital of VND175 trillion, down 7% in terms of number of enterprises but up 5% in terms of registered capital.

Hanoi’s Consumer Price Index (CPI) in June expanded 0.69% over the previous month and average CPI in the first six months of the year rose 3.68% over the average CPI in the same period in 2019.

Over the past six months, enterprises in Hanoi posted total export revenue of US$6.75 billion, down 6.7% over the same period last year, which is not a large decrease amid the COVID-19 pandemic.

Notably, industrial, commercial and service activities have gradually recovered, promising positive changes in the near future.

Deputy Director of Hanoi Department of Planning and Investment Tran Ngoc Nam affirmed that the city will focus on promoting the disbursement of public investment in addition to stimulating domestic tourism this year.

The city has also proactively fostered investment promotion activities and called on investment in important areas including the manufacturing industry, tourism, green agriculture, and others, Nam noted.