Hanoi 2020: pioneering investment attraction post-pandemic

10:00 | 29/06/2020
Hanoi needs to be a pioneer in attracting foreign-invested capital inflows post-pandemic, building on its success in controlling the COVID-19 outbreak to forge new momentum for breakthrough growth.
hanoi 2020 pioneering investment attraction post pandemic
Leaders at the Hanoi 2020 investment promotion conference discussed the way forward in the post-pandemic times

This was suggested by Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI) at the “Hanoi 2020 – Investment and Development Cooperation” conference organised at the National Convention Centre (NCC) on June 27.

According to Loc, the three key words (investment, development, and cooperation) in the slogan of the event show the vision and strategy of Hanoi in attracting investment capital. It shows the aim to lure stable investment capital based on cooperation and connection with each other.

“The event is organised in the context of Vietnam preparing to handle new investment inflows, thus it is necessary to make Hanoi a pioneer,” Loc said.

So far, Hanoi has prepared favourable conditions to welcome investment projects from both foreign and local investors. The city reported a breakthrough in the provincial competitiveness index (PCI) with a 40-point soar to stay at the top 10 cities and provinces having the highest PCI. In addition, Hanoi and Quang Ninh are pioneers in developing projects under the public-private partnership (PPP) model. It came in at second place in the 2019 Public Administration Reform Index (PAR Index) for the third year in a row with 84.64 per cent. Furthermore, administrative reforms and the implementation of online registration is highly appreciated by investors and enterprises.

At the event, representatives of Hanoi People’s Committee and enterprises signed MoUs with the investment capital of more than $26.07 billion, which are high-quality projects and will create breakthrough growth for Hanoi once implemented.

“However, in order to disburse the entirety of the registered capital and be a pioneer, it is important for city leaders to take good care of existing investors because they are the best emissaries to promote and introduce Hanoi as an investment environment to other global investors,” Loc said.

In the upcoming time, Hanoi should also establish a private task force to co-operate with the government’s task force to implement investment promotion activities as well as other policies to guide and handle new investment.

Hanoi attracted $1.05 billion in foreign-invested capital in the first five months of this year.

By Kim Oanh

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