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Hanoi reports growth in first six months
Date: 6/25/2016 11:09:06 AM
Hanoi has recorded robust economic performance in the first half of 2016, with its gross regional domestic product (GRDP) gaining 7.3 percent, said the municipal People’s Committee.
The capital’s agro-fishery sector grew 2.1 percent year-on-year in the period. However, unfavorable weather conditions inflicted crop cultivation, making the sector’s value added yet to fulfill its quota.
The industry and construction sector secured an annual growth of 7.8 percent, with investments poured into local industrial parks soaring 4.2 times. Sub-industries producing food, apparel and pharmaceuticals gained momentum, in contrast to timber processing and chemical production.
The service sector grew 7.5 percent. Hanoi welcomed six million tourists in the six-month period, up 9.4 percent year on year. Of the total, 1.5 million were foreigners, mostly from China, the Republic of Korea, Thailand and France.
Meanwhile, development projects in the city got 140 trillion VND (6.3 billion USD) in capital, which saw State funds reducing and foreign investment rising three-fold. Hanoi attracted almost 72 trillion VND (3.24 billion USD) worth of foreign direct investment.
There were 11,000 companies established in the first half of the year, registering a total investment of more than 92 trillion VND (4.14 billion USD), an annual surge of 52 percent.
Hanoi is now calling for further investment in urban infrastructure development, particularly in green spaces and social housing. The hub is also prioritising high-tech application in heath, energy and agriculture.
(Source:vietnamplus news)
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NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
