Hà Nội set to attract up to $40 billion in FDI over next five years

Hà Nội set to attract up to $40 billion in FDI over next five years


April, 21/2021 – 14:50

HÀ NỘI — Hà Nội has compiled a plan to attract between US$30 and 40 billion of foreign direct investment (FDI) during the 2021-25 period, Deputy Director of the municipal Department of Planning and Investment Vũ Duy Tuấn said.

According to Tuấn, during the 2016-20 period, the city attracted 3,113 foreign-funded projects worth $26.5 billion, 4.2 times higher than the capital recorded in the previous five-year period.

Of 33 key projects, 11 have been completed in line with plans, 15 are under construction, and 12 are about to begin.

As of March 31, there were 2,907 projects worth VNĐ1.65 quadrillion ($71.52 billion) not funded by the local budget. Of these, 967 have been completed and 182 had stopped or had their licences revoked.

At a working session with local authorities on Monday, Chairman of the municipal People’s Committee Chu Ngọc Anh asked the department to follow the city’s goals and working programmes to actively issue related plans or make proposals to local authorities.

He ordered the department to quickly review the local list of key projects and suggest new ones for the 2021-25 period, adding that the proposed projects should boost the city’s socio-economic growth and also prove feasible.

Anh also requested smooth and close coordination between the department and relevant sectors and localities. — VNS