Hanoi promotes investment at APEC 2017

17:46 | 17/11/2017
Hanoi had a succcessful round of promoting its imgae as a leading investment destination at the APEC Economic Leaders' Week 2017 in the central province of Danang, highlighting potential opportunities and engaging world-leading businesses.
Nguyen Duc Chung speaking at the Vietnam Business Summit

At the Vietnam Business Summit (VBS), Chung introduced Hanoi's huge potential with many business and investment opportunities. The city is paying special attention to investment attraction and is striving to create an enabling environment for investors.

"Hanoi is calling for investment to develop high-quality services for the banking and healthcare sectors, as well as trade centres, e-commerce, and training facilities," he said.

"Hanoi’s leaders are always willing to hold dialogues with businesses to help them solve difficulties. The city is determining to build out its e-government system, while boosting the application of IT solutions and simplifying administrative procedures, thus saving time and costs for businesses," he affirmed.

While in Danang, Chung also had meetings with leaders of many international groups and business associations, including Nico Barito of R20; Yu Won Seog, deputy major of Changwon city of South Korea and its business delegation; Antonio V. Del Rosario, general director of Coca-Cola ASEAN; Don Lam, general director of Vina Capital; and Tetsu Funayama, CEO of Mitsubishi Vietnam.

The Hanoi booth at the APEC exhibition

The chairman also witnessed the signing ceremonies of the cooperation agreements between Hanoitourist and South Korea's Global Consultant Network Co., Ltd., and between BRG and Sumimoto, as well as between BRG and the US' Nicklaus.

Thanks to great efforts to improve the business climate, the time to complete administrative procedures for business registration has been reduced by 30 per cent, 40 per cent for investment registration, and 30 per cent for land planning. The time for granting land-use right certificates has also been reduced from 30 to 14 days.

Hanoi's ranking on the Provincial Competitiveness Index (PCI) has improved over the past four years. In 2016, its PCI climbed 10 notches against 2015 to stand at 14th among the 63 cities and provinces.

The city's index of administrative reform rose by six places and ranked 2nd in the country in terms of readiness to apply IT and telecommunications solutions.

According to the Vietnam Chamber of Commerce and Industry, Hanoi is one of the three most attractive destinations in Vietnam for foreign investors.

At the investment promotion workshops in 2016 and 2017, the city introduced 231 projects in different sectors, with a total investment capital sum of over $80 billion to call for investors.

As of October 2017, Hanoi ranked third among 63 cities and provinces in terms of FDI attraction, with the total accumulated pledged capital of $27.2 billion, accounting for 8.7 per cent of the country's total FDI, according to the Ministry of Planning and Investment's Foreign Investment Agency.

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By By Bich Thuy

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