Hanoi’s FDI attraction hit 1.12 billion USD in five months

The capital city of Hanoi attracted 98.6 million USD in foreign direct investment (FDI) in May, lifting the total in the first five months to 1.12 billion USD.

According to the municipal Department of Statistics about foreign direct investment (FDI) in May, over 1.02 billion USD was poured into 92 new projects in the January - May period, while 36.8 million USD was added to 64 existing projects, and 57.9 million USD was spent on contributing capital to or purchasing shares of local companies.

Hanoi’s FDI attraction hit 1.12 billion USD in five months
A production line for electronic products at INOAC Vietnam Co., Ltd of Japan in Quang Minh Industrial Park of Hanoi. (Source: VNA)

In the first five months, Hanoi had 12,900 newly established enterprises with a registered capital of 124.3 trillion VND (4.9 billion USD), a decrease of 2 per cent in the number of companies and 3.5 per cent in capital year-on-year.

Meanwhile, as many as 5,400 businesses resumed their operation, up 18.5 per cent compared to the same period last year.

Vice Chairman of the municipal People’s Committee Nguyen Manh Quyen attributed the results to efforts in promoting administrative reform and improving the investment environment. The capital is leading the country in implementing the model of decentralization and authorization in handling administrative procedures, he stressed, adding that more and more foreign businesses are interested in investing in the capital.

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(Source: VNA)