Hanoi leads the country in attracting foreign investment first 6 months of 2023

As of June 20, 2023, the country’s foreign investment capital, including the total newly registered, adjusted and contributed capital to purchase shares of the whole country reached over 13.43 billion USD, down 4.3% compared to the previous year. in the same period last year. Although the total foreign investment capital into Vietnam (FDI) registered in the first 6 months of this year decreased by 4.3%, the decrease was narrowed compared to the same period last year (down 8.1%), positive effect in attracting FDI. Specifically: Newly granted investment capital reached nearly 6.5 billion USD (accounting for 48.3% of total registered capital), a sharp increase of 31.3% and an increase of 71.9% in the number of newly granted projects compared to the same period last year; capital contributed to buy shares by foreign investors reached 4.01 billion USD (accounting for 29.9% of total registered capital), a sharp increase of 76.8%. The additional registered capital reached 2.9 billion USD (accounting for 21.8% of the total registered capital), down 57.1% but the number of projects increasing capital increased by 29.8% over the same period last year. The growth rate of the number of new projects (up 71.9%) was higher than the growth rate of the total newly registered investment capital (up 31.3%), showing that foreign investors continue to be interested in and believe in Vietnam’s investment environment.

In the first 6 months of the year, new investment projects still focused on provinces and cities that have many advantages in attracting foreign investment (good infrastructure, stable human resources, efforts to reform capital regulations). administrative procedures and dynamism in investment promotion,…) such as: Hanoi, Ho Chi Minh City, Bac Giang, Binh Duong, Hai Phong, Bac Ninh, Dong Nai… Investors from Asia, Traditional investment partners still account for a large proportion (Singapore, Japan, China, Korea, Hong Kong, Taiwan – China). These six partners alone accounted for 76.1% of the country’s total registered FDI in the first six months of 2023.

In the context of the fast, complicated and unpredictable world situation, domestic enterprises faced difficulties in output, import-export market, socio-economic situation in Hanoi city still achieved good results. very important: In the first 6 months of 2023, the city’s GRDP is estimated to increase by 5.97% over the same period last year (up 5.95% in the first quarter; 5.98% in the second quarter). Although GRDP growth in the first 6 months of this year is lower than the growth rate of 7.10% in the same period last year, in the current world economic context, this growth is very important and remarkable. Total state budget revenue in the area increased by 22.9% and reached 62.4% of the yearly estimate; tourism recovered strongly with the number of visitors to the capital 2.5 times higher than the same period last year…; cultural and social fields continue to develop, social security is guaranteed.

In particular, Hanoi still attracts a remarkable amount of foreign investment capital (FDI), is one of the attractive destinations for investors from many countries and territories in the region and the world. gender.

In the month, Hanoi city attracted 399.7 million USD of FDI, of which: 50 newly licensed projects with total registered capital reached 26.9 million USD; 18 projects were adjusted to increase investment capital with the additional registered capital reaching 9.3 million USD; Foreign investors contributed capital and bought shares 25 times, reaching 363.5 million USD. In general, in the first 6 months of 2023, the whole city attracted 2,265.9 million USD of FDI, of which: 196 newly registered projects with a capital of 75.6 million USD; 88 additional projects to increase investment capital with 208.7 million USD; 173 times of foreign investors contributed capital and bought shares reached 1,981.7 million USD (in which 1 transaction of Japanese investor Sumitomo bought shares of VPBank on the stock exchange with a transaction value of 1,500 million USD).

Some factors helped Hanoi attract a lot of FDI in the first 6 months:

(1) As the capital of the whole country, with sustainable socio-economic competitive advantages, abundant and high-quality human resources, potential markets, diversified services, highly appreciated for its infrastructure floor, time cost, business support services, always stand side by side to support businesses.

(2) Hanoi publishes publicly and transparently all sectoral plannings, zoning plans, and land use plans in various forms for businesses to easily access investment information.

(3) Organizing dialogue activities with businesses, investment conferences, so that many problems are solved, which is the basis for building and forming policies to support enterprises to stabilize production.

(4)The city develops preferential policies for investors, accelerates the completion of industrial parks, especially high-tech zones. Therefore, many FDI corporations and enterprises investing in Hanoi highly appreciate the improvement of the business investment environment of Vietnam in general and of Hanoi in particular, which has created favorable conditions for businesses to develop. develop. At the same time, large FDI corporations affirmed to choose Hanoi as a place to expand investment and business in the coming years, especially in the field of high technology.

          However, Hanoi’s FDI attraction still has some problems that need to be taken care of:

(1) In terms of planning, Hanoi changed its administrative boundaries in 2008, currently implementing the capital planning, adjusting the overall master plan, leading to a number of licensed projects being delayed in implementation. due to need to be adjusted to suit the higher-level planning. Since then, the construction of project portfolios calling for investment still faces many difficulties in terms of mechanisms, policies, legal regulations on investment, land, construction and real estate business. changes, overlapping and inconsistent, the construction of the project list for bidding to select investors is still slow and difficult.

(2) The city still faces many shortcomings such as the time taken to carry out the investment preparation and project implementation procedures .

(3) Unsynchronized technical infrastructure , limited land fund , rental price land is 1.5-2 times higher than that of neighboring localities ; a number of regulations are overlapping , not consistent between the Law on Investment and the Law on Specialization. Departments and sectors have stepped up promotion activities but only stopped at providing basic information about the project to call for investment, so it has not attracted interested investors.

(4) Information technology application in promotion activities has not brought into full play its capacity and effectiveness, so promotion activities carried out in the online form are not attractive to investors…

On the basis of identifying the above difficulties and obstacles, Hanoi has implemented a number of specific solutions to increase FDI attraction in the coming time:

– Speed up the progress and improve the quality of planning work as well as review the city’s general construction planning to submit to the Government and National Assembly for approval in October 2023 as well as closely coordinate with other ministries. , departments and branches to complete the Capital Law to speed up development as well as promote their potential and advantages, create a clean ground to promote the formation of industrial parks.

– Establishing more industrial zones and clusters to facilitate FDI attraction; review and promote the progress of completing infrastructure of industrial parks in the direction that is consistent with actual and synchronous needs in order to create favorable conditions for attracting foreign enterprises such as: Prepare well the conditions for receiving management of Hoa Lac Hi-Tech Park; focus on promoting transport infrastructure, including the 4th Ring Road, electricity,telecommunications and information infrastructure to attract foreign investors, especially in the fields of urban development, manufacturing production, science and technology…

 -Well perform the site clearance work, combined with speeding up the completion of the infrastructure system in a synchronous and modern direction; strengthen the review of projects in order to urge investors to fully implement the commitments specified in the investment license as well as to identify obstacles and difficulties in order to solve for investors with high quality of companionship, sharing.

– For large-scale and complex projects with a long implementation time, many inadequacies related to legal issues, Hanoi needs to request the Prime Minister to allow the establishment of an inter-ministerial working group to support the implementation of the project, supporting localities, including Hanoi, to remove difficulties and obstacles for projects./.