Hanoi steps up efforts to boost enterprises’ competitiveness (21:28 06/08/2020)

HNP - In the coming time, Hanoi would continue to support enterprises and pursue administrative reform, so that the business community could take advantage of the EU – Vietnam Free Trade Agreement (EVFTA), according to Chairman of Hanoi People’s Committee Nguyen Duc Chung.

At an online conference regarding the EVFTA on August 6, Chung said 23 out of 27 countries in EU are investing in Hanoi with registered capital of US$4.16 billion, or 10% of total FDI to the city. 
Every year, Hanoi’s exports to EU account for 12 - 15% of the city’s total export turnover, mainly footwear, leather products, vegetable and electronic products. 
In the first 7 months, Hanoi’s export turnover reached an estimated  US$998 million, down 2.5% year-on-year. 
Chung said under the instruction of Prime Minister Nguyen Xuan Phuc, Hanoi has set up action plan for the implementation of the EVFTA, as well as investment promotion activities between Hanoi and EU countries. 
The city would focus on projects with technology transfer and modern technologies in fields of healthcare, pharmacy, supporting industries, manufacturing, among others. 
Hanoi is currently adopting technologies from the Industry 4.0 to ensure higher added value for agro-forestry-fishery products, Chung added. 
In tourism, EU is the fourth largest market for Hanoi, but the pandemic has led to a significant reduction in the number of tourists. Chung said Hanoi identifies EU as a major market for tourism in the future.

By Tran Huong

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