Hanoi continues to be most attractive FDI destination

A Japanese-invested production line of electronic products in Hanoi's Quang Minh Industrial Park (Illustrative image. Source: VNA)

Deputy director of the municipal Department of Planning and Investment Tran Ngoc Nam revealed the information at a regular press meeting of the Hanoi Party Committee on December 25.

In 2018, the city has granted licences to 616 new FDI projects with total registered capital of 5.03 billion USD, he said.

According to Nam, the capital has deployed a number of measures to improve the investment environment and increase support for investors and businesses from business registration to implementation of projects.

Particularly, the city has approved the simplification of 61 administrative procedures and pressed ahead with online business registration, ensuring that relevant administrative procedures are completed within three days.

Japan is the leading foreign investor in Hanoi with about 10.6 billion USD, followed by Singapore, 6.9 billion USD, and the Republic of Korea, 5.5 billion USD, Nam said.

The field most attractive to foreign investors are real estate, which absorbed 34.8 percent of total FDI, followed by processing and manufacturing 24.4 percent, information and communications 8.72 percent, and construction 6.29 percent, he added.-VNA