Hanoi urged to attract more large-scale FDI projects (21:18 25/09/2020)

HNP - Speaking at the working session between the Hanoi’s Party Standing Board and the MPI’s Party Committee on September 24, Secretary of Hanoi Party Committee Vuong Dinh Hue affirmed the capital city stands ready to cooperate with the MPI in organizing events to promote investment and socio-economic development.   

Hanoi and the MPI sign a Memorandum of Understanding

According to Minister Nguyen Chi Dung, over the past five years, Hanoi has made positive changes during development process. The city has contributed nearly 17% to GDP, 19% to the national budget, and exported 16% of the country’s total exports. 
Despite the negative impact of the COVID-19 pandemic in 2020, Hanoi has still achieved  five-year high growth rate. Investment and business environment, and administrative reforms have been improved remarkably. Hanoi has remained a leading locality in attracting foreign investment for the second straight year. 
Dung noted, however, there remains untapped potential that could create breakthroughs for the city’s further development. 
Hanoi has not been able to attract large-scale FDI projects that could serve as driving forces for growth, he underlined.
Meanwhile, socio-economic facilities are still poor and have not met development requirements, Dung added, suggesting the issues should be promptly addressed via efficient planning.
The minister urged Hanoi to soon approve the master planning for Hanoi in the 2021 - 2030 period, with vision to 2045 which is regarded as a platform to carry out the planning work. 
He said the MPI would proactively give assistance to Hanoi in completing the task as it is a huge undertaking. 
Hanoi was told to fully tap into the potential of one of the two largest economic locomotives of the country, the driving force for development of the Capital Region, the northern key economic region and the Red River Delta.
The MPI will work with Hanoi in investment attraction and promotion, help the city become a hub of innovation, and create favorable conditions for local businesses in digital transformation, Dung affirmed.
Making conclusion at the session, Secretary Vuong Dinh Hue asked the city’s entities to fully acknowledge the Minister’s instruction, along with strictly realize the memorandum of understanding signed at the event, aiming to remove difficulties and boost socio-economic development. 
Hue suggested the MPI should pay special attention and create the best possible conditions for Hanoi to carry out the recommendations, especially the master planning for Hanoi in the 2021 - 2030 period, with vision to 2045.
Regarding FDI attraction, the Secretary assigned the Party Board of the municipal People’s Committee to set up a specialized team in this task. 
It is expected that, in the next term, the municipal Party Committee will issue ten working programs, he said, adding that the city wants to receive the support from the MPI during the process. 

By Tran Huong

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