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Hanoi attracts FDI of $5.9 billion in first half, first since 1988

It is the first time within 30 years , Hanoi takes the lead in attracting the Foreign Direct Investment (FDI) of US$5.9 billion in the first half of 2018, said participants at the sixth session of the 15th Hanoi People’s Council on July 5.

At the  sixth session of the 15th Hanoi People’s Council on July 5 (photo: SGGP)

At the sixth session of the 15th Hanoi People’s Council on July 5 (photo: SGGP)

Speaking at the session, Chairwoman of People’s Council Nguyen Thi Bich Ngoc said in the first half of the year, Hanoi has seen the rate of the Gross Regional Domestic Product (GRDP) of 7.07 percent whereas it was 6.64 percent in the same period last year. The city state budget is estimated to reach 51 percent, a year-on-year rise of 19 percent.
Its' investment environment has improved much; accordingly it was ranked 13 as per the Vietnam Provincial Competitiveness Index.
This is the first time within 30 years, FDI newly registered in Hanoi reached $5.9 billion.
At the meeting, participants reviewed implementation of socioeconomic growth, colelction of state budget and measures for the rest months of 2018. Urban management and development tasks was well done; plus, there have been much changes in environment hygiene and traffic congestion.
Local administrations take heed to carry out new rural development policies; so far , the city has four districts and 294 over 386 communes achieved the national sets of criteria.
Additionally, social welfare and people serving the national revolutionary fight receives much attention from government. Matters of culture, medicine , education , national defense and social security order are ensured.
However, Chairwoman Ngoc said besides good achievements, the capital city has faced many challenges.
The city has fast urbanization with high rate of condo yet poor municipal managmeent raised concerns amongst residents. Violations in construction fields are complicated.

By ANH PHUONG - Translated by UYEN PHUONG

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