FDI to Hà Nội up 6.7 times in 6 months

VGP - Hà Nội lured US $ 875.1 million in foreign direct investment (FDI) in the first half of this year, a 6.7 fold rise over the same period last year, according to the municipal Statistics Department.

June 22, 2011 8:42 PM GMT+7

In the six-month period, the city licensed 107 FDI projects with total registered capital of US$414.4 million, and saw 33 operational FDI projects raising their capital by a total of US $460.7 million.

According to the department, development investment in the city rose 12.6% in the first half to nearly VND77,155 billion. Of the sum, state investment increased 11.7%, and non-state investment rose 5%.

The department’s Director Công Xuân Mùi said Hà Nội has so far this year axed significantly public investment spending, citing the cut and transfer of VND119.4 billion of 97 projects using budgets of districts and towns.

Mr. Mùi said the city will prioritize investment for projects to build important technical infrastructure, accommodations for students, workers and low-income earners. It is accelerating the implementation of drainage and waste treatment projects.

By Ngọc Vân