Overview of the meeting. Source: Hanoi’s portal.
Ho Chi Minh City came second with US$4.96 billion or 17% of the total investment, followed by Binh Duong, Dong Nai, and Bac Ninh.
Upon breaking down, foreign investors committed US$945 million for fresh projects in Hanoi and injected an additional US$578 million for existing ones, and spent US$5.33 billion on share acquisitions, Quyen said at a meeting on October 30.
In addition to foreign invested projects, Hanoi attracted VND36.31 trillion (US$1.57 billion) in investment capital from domestic sources, including VND17.37 trillion (US$752.25 million) for new projects and VND18.94 trillion (US$820.33 million) for existing ones.
Data: FIA. Graphic: Ngoc Thuy.
Quyen informed that total retail sales of consumer goods and services grew 8.6% month-on-month in October to VND49.8 trillion (US$2.15 billion), accumulating a total of VND462 trillion (US$20 billion) in the January – October period, up 10.2% year-on-year.
The consumer price index (CPI) rose by an average 3.63% against the same period last year.
Hanoi has seen a total of nearly 23,140 enterprises set up in the first ten months of 2019 with registered capital of VND317.1 trillion (US$13.73 billion), up 8% in number and 36% in capital year-on-year.
Meanwhile, the number of tourists coming to Hanoi has been on the rise, reaching 23.82 million in the first ten months, up 9.7% year-on-year. Of the total, foreign tourists totaled at 5.32 million, up 10.8%. Revenue from tourism activities in Hanoi during the period was estimated at VND83.2 trillion (US$3.6 billion), up 31.3%.
During the January – October period, Hanoi’s exports reached US$13.4 billion, up 16.1% year-on-year, in which the domestic sector posted export turnover of US$7.9 billion, up 26.5% and the FDI sector of US$5.51 billion, up 3.8%.
The city’s state budget revenue reached VND202.8 trillion (US$8.78 billion), equivalent to 82.5% of the year’s estimate and up 15% inter-annually. Of the total, revenue from crude oil reached VND2.6 trillion (US$111.98 million), up 16.8% year-on-year, and domestic revenue of VND200.2 trillion (US$8.67 billion), up 15%.
Hanoi targets GRDP growth rate of 7.5% in 2019 and 2020, leading to the average GRDP growth in the 2016 – 2020 period of 7.33% – 7.41% per year, which is in line with the city’s five-year socio-economic development plan.
- Storm Nakri weakens; torrential rain to remain in central, southern Vietnam
- Textile and footwear industries remain bright spots for Vietnam’s economy
- Who will lead Vietnam's economy?
- Slowdown in FDI’s export growth to impact Vietnam’s economy in 2020
- Vietnam is only one option in relocation wave from China, says economist
- Vuon Chuoi reveals life in Hanoi thousands of years ago
- Fat salaries keep foreigners in Vietnam despite dirty air
- Vietnam Airlines, Jetstar Pacific adjust flight schedules due to storm
- Plan to publically shame litterers proposed in Hanoi
- Off the rails: Hanoi closes railway cafés thronged by selfie-seeking tourists