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 is 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 with businesses. (Photo: Linh Chi)

Specifically, in 8 months, the whole city attracted 1.4 billion USD of 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 terms of 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 and accompany 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 wars between major countries, and the wave of FDI capital shifting to Southeast Asia, the capital city of 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 of the Capital", Associate Professor, Dr. Tran Dinh Thien affirmed.

Hanoi has identified 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 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, linking with trade and tourism promotion as well as foreign affairs and cultural activities; enhance the role of investment promotion agencies with 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 creates 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 priority areas to attract strategic investors will be exempted from land and water surface rent for 10 years and receive a 50% reduction in land and water surface rent for the remaining period; at the same time, they will be subject to a 5% corporate income tax rate; 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, Chairman of the Asian Infrastructure Investment Bank (AIIB) Kim Lap Quan affirmed that the bank wishes to explore cooperation opportunities in the capital city 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 projects after being approved 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 calls 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 in accordance with legal regulations, handling investment and business procedures; absolutely not arbitrarily setting 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 is constantly introducing 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