Wednesday, November 22 2017

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Hà Nội economic growth hits a six-year peak

Update: December, 06/2016 - 05:00
Bulb manufacturing line of Rạng Đông Thermos and Light Bulb Joint Stock Company. Hà Nội’s Gross Regional Domestic Product is set to reach 8.5 to 9 per cent this year. - VNA/VNS Photo Trần Việt
Viet Nam News

 

HÀ NỘI — Despite failing to hit the yearly target of 8.5-9 per cent, Hà Nội’s economic growth in 2016 has hit its highest level in six years, reaching 8.03 per cent, Deputy Chairman of the municipal People’s Committee Nguyễn Doãn Toản said yesterday.

The service sector grew by 8.1 per cent while industry-construction and agriculture witnessed increases of 8.8 per cent and 2.21 per cent, respectively.

The statistics were presented at the third session of Hà Nội People’s Council’s 15th tenure scheduled from yesterday until Thursday.

According to Toản, over the past year, an unprecedented number of new enterprises had been established.

Foreign-invested capital on projects reached US$2.8billion, increasing 2.6 times compared to last year. Total social investment was estimated at VNĐ277.95 trillion ($12.3million), a rise of 10 per cent over the previous year.

The city has finished or nearly finished key transport projects such as Ring Road No.2 running through Nhật Tân-Cầu Giấy, Ring Road No.1 through Ô Đống Mác-Nguyễn Khoái, the Long Biên District centre project and accelerated railway projects.

In the report reviewing socio-economic tasks in 2016, Deputy Chairman Toản said that the process had various weaknesses, including difficulties of business and production, leading to closure of firms.

Industry growth speed has been slowing down. Pressing issues include pollution at industrial parks and traditional craft villages, fires, explosions and traffic accidents.

The session approved a resolution on 2017 socio-economic development plan. Gross Regional Domestic Product (GRDP) is hoped to reach 8.5 to 9 per cent. GRDP per capita is targeted at VNĐ86 to 88 million ($3,820-3,900). Export-import turnover is aimed at 4 to 5 per cent.

Health insurance coverage is hoped to reach 82.8 per cent.

The plan also expects all households in urban areas to have water for daily use.

To fulfill these targets, the meeting agreed on tasks, including improving the business and investment climate as well as provincial competitiveness index.

To tackle pollution, by 2020, 117 industrial production bases in 12 districts will be moved out of the inner city, Phan Hồng Sơn, director of Hà Nội’s Justice Department said.

Politburo member Hoàng Trung Hải, the city’s Secretary of Party Committee said that “The year of administrative discipline” has been selected as the main topic of the city’s work next year. It aims to beef up administrative order and strengthen the role of public servants in office, residency and public areas and spread the spirit to citizens to tighten social discipline.

During the four-day gathering, the council will discuss and approve 15 important resolutions related to socio-economics, defence and security, the city’s State budget spending in 2017, key projects and middle term public investment next year. — VNS

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