Hanoi is constantly "moving", ready to welcome a new wave of investment.

Baoquocte.vn. In the first 8 months of 2024, attracting foreign direct investment (FDI) in Hanoi was a bright spot in the economic picture of the capital. Hanoi remains a safe and potential destination as well as an attractive position for investment capital in the country.

Hanoi is highly appreciated for its infrastructure, time cost, business support services, always standing side by side to support businesses. (Photo: Linh Chi)

Specifically, in 8 months, the whole city attracted 1.4 billion USD in foreign investment capital, an increase of 71% over the same period in 2023. Of which: 172 new projects were registered with a capital of 1.1 billion USD; 120 times of increased investment capital with 155 million USD; 154 times of foreign investors contributing capital and buying shares reaching 177.7 million USD.

In recent times, Hanoi has continuously been in the rankings of leading localities in attracting FDI.

With competitive advantages in open investment environment, stable politics , sustainable socio-economic development, abundant and high-quality human resources, potential market, and diverse services, Hanoi Capital is one of the attractive localities for foreign investors.

In addition to its own advantages, the thousand-year-old capital is highly appreciated for its infrastructure, time costs, business support services, and always stands side by side to support businesses.

Attracting FDI in depth

Assessing the general picture of FDI attraction in Hanoi recently, Associate Professor, Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, said that in the context of strong Industry 4.0, trade war between major countries, and the wave of FDI capital shifting to Southeast Asia, the capital Hanoi has had "open" orientations to improve the quality of FDI capital flows.

Besides, Hanoi focuses on training and developing high-quality human resources to access modern technology, meeting the requirements of FDI enterprises.

"This is also a decisive comparative advantage in attracting quality FDI capital in the coming time to the capital," Associate Professor, Dr. Tran Dinh Thien affirmed.

Hanoi has been identifying the business community in general and the FDI business community in particular as an important driving force for the integration and development process of the capital.

It is expected that by 2024, Hanoi will strive to attract about 3.15 billion USD in FDI; of which, projects using land will be about more than 2.15 billion USD, and commercial and service projects will be about 1 billion USD.

According to the Hanoi Department of Planning and Investment, the city's orientation is to attract FDI in depth in line with the goal of sustainable development; prioritizing quality projects, products with added value and high competitiveness focusing on various fields.

At the same time, continue to innovate in investment promotion, linked with trade and tourism promotion as well as foreign affairs and cultural activities; strengthen the role of investment promotion agencies in diplomatic organizations and foreign-invested economic sectors; strongly improve the open, favorable, transparent and fair investment and business environment for investors to do business successfully and develop sustainably.

Director of the Hanoi Center for Investment, Trade and Tourism Promotion Nguyen Anh Duong affirmed that the city always pays attention and provides the most favorable conditions to attract investment, especially FDI capital.

"In addition to the existing general incentive mechanisms, the new Capital Law also opens up many more incentive mechanisms and attractive policies for investors.

For example, enterprises investing in areas identified as priorities to attract strategic investors will be exempted from land and water surface rents for 10 years by the city and will receive a 50% reduction in land and water surface rents for the remaining period; at the same time, a 5% corporate income tax rate will be applied; of which, they will be exempted from corporate income tax for 4 years and will receive a 50% reduction in the amount of income tax payable for the next 9 years," Mr. Duong emphasized.

National Innovation Center at Hoa Lac Hi-Tech Park (NIC Hoa Lac), Hanoi. (Source: Dan Tri)

Constantly offering attractive policies and incentives

Recently, during a working session with the leaders of Hanoi city, President of the Asian Infrastructure Investment Bank (AIIB) Kim Lap Quan affirmed that the bank wishes to explore cooperation opportunities in the capital and is ready to become a reliable partner with a long-term cooperation program.

However, the AIIB also suggested that Hanoi reduce the complexity of administrative procedures, aiming to maximize cost efficiency and operational efficiency; emphasizing that approved projects need to be well-designed, implemented quickly, and completed on time.

For its part, the Hanoi People's Committee has requested relevant departments, branches and units to propose and organize calling for investors to implement projects according to the List of projects to attract investment in Hanoi City, phase 1, 2024; review and prepare conditions on land, infrastructure, labor, etc. to be ready to welcome investors and large corporations; promote the upgrading of synchronous industrial park infrastructure to create a competitive advantage to attract medium and long-term investment.

The city requires agencies and units to strengthen the capacity of enforcement officers, focus on reforming administrative procedures and the administrative apparatus in the direction of taking people and businesses as the subjects of service; quickly and legally handle investment and business procedures; absolutely do not arbitrarily set out requirements and conditions that are not in accordance with legal regulations in the process of handling administrative procedures.

Hanoi is preparing to organize a Dialogue Conference with foreign-invested enterprises, one of six thematic business dialogue conferences that the city will organize in 2024, to promptly listen to and remove difficulties for FDI enterprises.

It is clear that, in addition to its advantages, the Capital constantly offers attractive policies and incentives, renewing itself to attract new waves of investment. It is believed that in the coming time, investors will continue to choose Hanoi as a destination and the Capital will firmly maintain its position as a safe, potential and attractive destination for investment capital from the whole country.

Source: https://baoquocte.vn/ha-noi-lien-tuc-chuyen-dong-san-sang-don-them-lan-song-dau-tu-moi-286602.html