Hanoi's economy continues to flourish

Friday, 2020-12-04 17:00:12
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Hanoi residents shopping at the Big C Thang Long supermarket. (Photo: Nguyen Trang)
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NDO – Hanoi’s growth targets have shown positive results in November and during the first 11 months this year, despite the impact of the COVID-19 epidemic.

>>> Hanoi’s economy estimated to grow by 3.94% in 2020

>>> Hanoi disburses public investment of over VND40 trillion in 11 months

Figures announced by Director of the Hanoi Department of Planning and Investment, Nguyen Manh Quyen, at a meeting of the Hanoi People's Committee on December 4 showed total State budget revenue in the capital city in the first 11 months this year had reached VND233.517 trillion, equivalent to 83.8% of the estimate and accounting for 98.9% of that over the same period in 2019.

If including the VND7.274 trillion of tax and land rental payable in the first 11 months of 2020, which is expected to be extended, total State budget collection in the city during the Jan-Nov period is VND240.791 trillion, reaching 86.4% of the estimate and 102% of the same period last year.

Hanoi’s export turnover in November was estimated at US$1.465 billion, up 8.3% over the previous month and up 21.8% over the same period last year. Of this, the domestic economic sector reached US$875 million, up 9.2% MOM and 29.4% YOY, respectively; while the FDI sector reached US$590 million, up 6.8% MOM and 12% YOY, respectively.

In this first 11 month period, total export turnover was estimated at US$14.6 billion, up 1.2% over the same period in 2019, of which the domestic economy contributed US$9.1 billion, up 7.6% and the FDI sector US$5.5 billion, down 8%.

Over the past 11 months, Hanoi has continued to promote investment attraction, business environment improvement and business development, focusing on directing support for investors and enterprises, while creating a healthy investment environment and equality in land access for project implementation.

By the end of November, the capital city had decided to grant investment certificates and adjust investment for 140 projects, with total newly-registered and additional capital at over VND143.5 trillion.

FDI attraction during the 11-month period reached US$3.19 billion, of which 464 are newly-granted projects with registered capital having reached US$662 million and 132 projects having increased their capital with additional volume reaching US$1.245 billion. There were 2,300 new businesses registered in November with registered capital of VND20.6 trillion.

In December, Hanoi decided to synchronously implement solutions to prevent and control the epidemic from occurring in the city, in association with boosting production and the circulation of goods in the last month of the year.