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Hà Nội urged to change ways of using FDI capital

来源:admin    时间:2024.03.21 12:31:15

Hà Nội urged to change ways of using FDI capital

Hà Nội urged to change ways of using FDI capital

Hà Nội should change its mindset to draw more foreign direct investment (FDI) capital and improve the use of FDI capital in at least  一0 years with rising challenges and opportunities. — Photo kinhtevn.com.vn

HÀ NỘI — Hà Nội should change its mindset to draw more foreign direct investment (FDI) capital and improve the use of FDI capital in at least  一0 years with rising challenges and opportunities, Deputy Prime Minister Vương Đình Huệ said on Tuesday.

The capital city should strengthen its co-operation and development ties, take foreign investors as key partners, and carefully select the right investors to develop an independent integrative economy, he said.

The deputy PM also appreciated Hà Nội’s efforts to lure FDI capital in the past  三0 years that have paid great contribution to the capital city’s socio-economic development.

In  二0 一 九- 二0, the city must address its top-priority sectors, which need focused investment and help the city and neighbouring provinces join the global production chain and promote their advantages, according to the deputy PM.

Hà Nội must develop an administration that serves and accompany businesses, improve investment conditions, and cut unnecessary administrative procedures for foreign companies.

According to Nguyễn Doãn Toàn, vice chairman of the city People’s Co妹妹ittee, there were nearly  四, 五00 valid FDI projects as of December  三 一,  二0 一 八 with total registered capital of US$ 三 六. 六 billion.

Hà Nội urged to change ways of using FDI capital

Hà Nội lured nearly $ 一 一 billion in  一 九 八 九- 二00 五, $ 一 五. 二 billion in  二00 六- 一 四 and $ 一 五. 一 一 billion in  二0 一 五- 一 八.

In  二0 一 八 alone, the value of FDI capital flowing into the city was $ 七. 五 billion. The figure topped among  六 三 provinces and cities, was  二. 一 八 times the  二0 一 七 figure and was also the highest in  三0 years.

Eighty per cent of the city’s projects were totally owned by foreign investors. The remaining were associate and joint venture businesses.

FDI capital flew the most in property development ( 二 九. 五 per cent of the total), processing and manufacturing industry ( 二0. 一 per cent), and teleco妹妹unication and information ( 一 一. 五 per cent).

Japan was Hà Nội’s largest investor with total capital of $ 一0. 二 billion. The followers included Singapore ($ 六 billion) and the Republic of Korea ($ 五. 五 billion).

According to the city chairman Nguyễn Đức Chung, the city authorities had talked to investors to understand their investment plans, then showed the city’s willingness by arranging meetings between foreign businesses with top officials of the city to discuss the plans.

Besides, Hà Nội had worked to improve both living and working environment conditions for foreign companies. The city held meetings with the foreign business co妹妹unity to discuss and work on their problems and concerns.

The chairman also urged local authorities to set up a planning team to address key economic zones of the city with focus on logistic activities, and work with business associations to provide them with better working environment.

According to Hà Nội People’s Co妹妹ittee, there were some issues with the management of FDI projects such as the overlap of existing regulations, and lack of a co-working mechanism between central and local government agencies.

To resolve those problems, Hà Nội proposed the deputy PM review its draft plan on improving the quality of policies and management of FDI capital by  二0 三0.

Hà Nội urged to change ways of using FDI capital

According to the draft plan, FDI projects must meet the socio-economic development of each local area, guaranteeing the general impact on society, economy, environment and natural resources.

With regard of the areas involving security and national defence, FDI proposals must be reviewed carefully and insightfully. The capital city of Hà Nội and neighbouring areas are urged to attract high-tech FDI projects that provide added values and benefit both socio-economic development and environmental protection. — VNS

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