Hanoi helps enterprises to overcome difficulties amid COVID-19 (17:31 22/10/2021)

HNP - At the dialogue between the authority of Hanoi and foreign invested businesses on October 19 to seek ways to tackle difficulties facing them amid the COVID-19 pandemic, Vice Chairman of the municipal People's Committee Nguyen Manh Quyen emphasized that the pandemic has brought about unprecedented challenges, causing  serious impacts on production and business activities, and taking a heavy toll on the country’s socio-economic development. Thanks to strong measures, Hanoi has so far basically controlled the pandemic and gradually returned to new normal.   

Vice Chairman of the municipal People's Committee Nguyen Manh Quyen speaks at the meeting.

Giving a report on the city's socio-economic development and foreign investment attraction from January to September, Quyen stated that Hanoi's gross regional domestic product (GDRP) in the third quarter decreased by 7.02%, with a focus on a group of industries such as services, plummeting  by 8.18%, along with industry and construction, which fell by 6.76%. 
According to him, in the first nine months of the year, the city's GRDP increased by only 1.28% against the same period of last year. State budget revenue reached VND177.4 trillion, posting a year-on-year increase of 8.1%. The consumer price index (CPI) rose by 1.54% against the same period last year.
Along with effort to curb the pandemic, the municipal authorities have implemented policies to ensure social welfare and support enterprises in conducting their business. 
Regarding foreign investment attraction, Quyen stated that Hanoi is one of the localities to receive the earliest foreign investment projects, with the first   since 1989. The capital city has so far ranked third in attracting foreign investment.
Since the beginning of the year, Hanoi has drawn  US$1.28 billion in foreign investment capital, of which US$144 million was poured into 256 newly-registered projects and US$686 million was added to 93 existing projects. The capital contribution through share purchases  by 346 foreign investors hit US$450 million.
Since September 21, 2021, the municipal authorities have approved capital increase to a number of large existing projects with an additional capital of US$340 million.
The results show investors' confidence in Hanoi's business environment  as well as the municipal administration’s attention to streamlining  administrative procedures and create favorable conditions for investors to accelerate their disbursement and implementation of projects for economic recovery, Quyen stressed.
Quyen said together with foreign investment, domestic investors and firms have also paid full attention to expanding their business, creating a foundation for a sustainable and vibrant ecosystem. 
Over the past nine months, the city's domestic investment attraction fetched VND9.650 billion. The number of newly-established enterprises reached 17,328, with the total registered capital of  VND232.3 trillion.
As many as 8,310 businesses resumed their operations, up 77% against the same period last year. By the end of September, the total number of enterprises in the city hit 318,789.
With a spirit to accompany enterprises to overcome all difficulties caused by the pandemic, Quyen stated that the authorities of Hanoi always identify supporting  business as its top priority to quickly restore economy.
The municipal government has promulgated plans to improve investment climate and provincial competitiveness index (PCI), he told the conference,  adding the city is now striving to complete an economic recovery plan, speed up the building of e-government in a bid to reduce the time and costs for businesses, ensure political security, social order and safety.
He also informed, in the time ahead, Hanoi would focus on carrying out major tasks to quickly restore the production and business activities of local firms, and boost socio-economic recovery, whilst  continuing to implement COVID-19 countermeasures in a safe, flexible, and effective manner.

By Tran Huong

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