Hanoi lured 6.27 billion USD in foreign direct investment (FDI) in the first nine months of 2018, up 5.4 times over the same period last year and exceeding the yearly target by 64 percent.

The result made Hanoi the top locality nationwide in terms of FDI attraction.

Of the total, 5.17 billion USD was poured into 417 new projects, while 661 million USD was added into 116 underway ones and about 431 million USD contributed by 543 foreign investors to domestic firms.

At the same time, 70 non-budget invested projects were implemented with combined capital of 163 trillion VND (7 billion USD), while 41 others received additional 86 trillion VND (3.69 billion USD).

The feasibility reports of four public-private partnership projects were approved with total investment of 14.42 trillion VND (620.06 million USD).

Meanwhile, the city also issued investment licences to four new projects worth 13.94 trillion VND (599.42 million USD).

Hanoi stands ready to aid European investors and will offer them more preferential policies, said Chairman of the municipal People’s Committee Nguyen Duc Chung.

The official made the commitments at a dialogue between the European Chamber of Commerce (EuroCham) in Vietnam and the municipal People’s Committee on September 25 in the capital.

Chung reviewed Hanoi’s development since its administrative boundary expansion 10 years ago.

He told the delegates that the city is stepping up infrastructure building towards the smart city model, administrative reform, personnel training and environmental protection.

Chung expressed his hope that these efforts will help Hanoi improve its business environment and consolidate confidence of foreign investors, including those from Europe.

European partners are leading foreign investors in Vietnam, with total investment of nearly 25 billion USD, and the continent is the country’s biggest provider of non-refundable aid, while two-way trade rose five times in 2006-2017, exceeding 50 billion USD last year.

Source: Vietnam+, Vietnam+