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, 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 spent on contributing capital to or purchasing shares of local companies.

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% in the number of companies and 3.5% in capital year-on-year.

Meanwhile, as many as 5,400 businesses resumed their operation, up 18.5% 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 decentralisation and authorisation in handling administrative procedures, he stressed, adding that more and more foreign businesses are interested in investing in the capital./.