Hanoi’s economy shows positive signs in Q1 (09:42 05/04/2021)

HNP - Member of the Party Central Committee, Deputy Secretary of the Hanoi Party Committee and Chairman of the municipal People’s Committee Chu Ngoc Anh chaired a   first quarter briefing on April 2.

The event saw the attendance of members of the municipal Party Standing Commission: Standing Vice Chairman of the municipal People’s Committee Le Hong Son, Vice Chairman of the municipal People’s Committee Nguyen Trong Dong, and Director of the Department of Public Security Nguyen Hai Trung; Vice Chairmen of the municipal People’s Committee Nguyen Manh Quyen, Duong Duc Tuan, Ha Minh Hai, and Chu Xuan Dung; and leaders of district-level People’s Committees. 


Speaking at the meeting, Chairman of the municipal People’s Committee Chu Ngoc Anh stressed the year of 2021 holds significant meaning in the city's efforts to realize the Resolution of the 17th municipal Party Congress and the Resolution of the 13th National Party Congress along with preparing for the elections of deputies to the National Assembly and People’s Councils at all levels. 
Over the first three months of the year, Hanoi has exerted every effort to overcome difficulties and challenges and attain massive achievements across all fields, he added. 
Especially, the city has put the COVID-19 pandemic under control and continued to pursue the twin goals, Anh stated, noting that the city’s economy in March and the first quarter of the year has showed positive signs. 
Giving a report on socio-economic results, Director of the Department of Planning and Investment Do Anh Tuan said that in the first three months, Hanoi has drastically implemented the twin tasks of fighting the COVID-19 pandemic and promoting socio-economic development. 
According to Tuan, in the January-March period, State budget revenue in the city stood at VND72.75 trillion US$3.16 billion, meeting 30.9% of the plan, up 1% year-on-year, while budget spending was estimated at VND14.19 trillion, accounting for 13.1% of the estimate. 
From January to March, export turnover reached US$3.12 million, down 1%, and import value stood at US$6.98 million, up 4% over the same period last year. Hanoi’s consumer price index (CPI) saw an increase of 0.04%. 
While Hanoi’s economy continues to face severe Covid-19 impacts, the gross regional domestic product (GRDP) growth in the first quarter expanded by 5.17% year-on-year, 1.25-fold surge against the 4.13% recorded in the same period of last year, in which, construction - industry sector was among key contributors for economic growth by expanding at the rate of 7.99% year-on-year, representing an increase of 1.43-fold year-on-year. 
During the period, the city’s Index of Industrial Production (IIP) has grown 7.7% year-on-year. The total retail sales of consumer goods and services increased by 6.8%.
Hanoi’s tourism sector has witnessed a sharp decline in number of tourists due to COVID-19 restrictions. The total number of visitors to the capital city hit 280,000, posting a decline of 87.7%, including 50,000 foreigners.
Besides, special attention has been paid to improving business environment and development. In March, Hanoi has 34 new foreign invested projects worth US$30.5 million and nine existing ones with additional capital of US$47.8 million. The local authorities also gave business license for 2,622 new enterprises with an average registered capital of VND23.6 billion (US$1 million).
For the second quarters and the rest of the year, Tuan said Hanoi continues to accomplish the dual targets, while focusing on removing difficulties for local business and production activities, ensuring social welfare and effectively responding the different developments of the COVID-19 pandemic.

By Tran Huong

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