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Hà Nội needs new momentum for growth: Prime Minister

Update: June, 18/2018 - 09:00
Prime Minister Nguyễn Xuân Phúc delivers a speech at the Hà Nội 2018 - Investment and Development Co-operation conference. — VNS Photo
Viet Nam News

HÀ NỘI — Hà Nội needs to seek new momentum for growth to materialise its development vision, said Prime Minister Nguyễn Xuân Phúc.

Phúc was speaking at the conference ‘Hà Nội 2018 - Investment and Development Co-operation’ held in Hà Nội yesterday, the city’s largest investment promotion forum in the year with the participation of nearly 1,000 businesspeople and investors.

Hà Nội should devise a master plan and action programme for its development, he said, taking Cầu Giấy District as an example, which has emerged from a very poor locality into an urban area with industrial value exceeding VNĐ43 trillion (US$1.9 billion) and State budget contribution of more than VNĐ7 trillion ($308 billion) thanks to effective planning.

The PM believes that the capital will take the lead nationwide in developing the Fourth Industrial Revolution and the digital economy, while building a smart city.

He urged the city to create high-quality human resources in spearhead sectors such as artificial intelligence and data science, and carry forward its role as the country’s cradle in personnel training in natural sciences. 

He also asked the city to support investors when they meet difficulties, and create breakthroughs in land-related procedures.

More attention should be paid to the construction of public facilities such as parks and public toilets, with all toilets at schools and hospitals satisfying quality standards, the leader said.

He called on investors to promptly carry out projects in the city, and urged municipal authorities and investors to co-ordinate in land clearance.

Applauding Hà Nội’s achievements in development, especially its efforts in building an e-Government, PM Phúc expressed his hope that the city would promote its role in development in the Red River Delta region and the country.

“The event demonstrated Hà Nội’s commitment to improving the business environment, accompanying enterprises and turning the private economic sector into an important factor in the city’s economic reform,” secretary of the municipal Party Committee Hoàng Trung Hải said. 

Vũ Tiến Lộc, chairman of Việt Nam Chamber of Commerce and Industry said Hà Nội had seen improvements. The number of both domestic and foreign projects in the city had rapidly increased. One out of five newly-established firms in the country came from Hà Nội.

“The city’s provincial competitiveness index (PCI) has seen positive changes as it jumped to among the 13 localities with best administration quality in the country,” Lộc added.

Chairman of the municipal People’s Committee Nguyễn Đức Chung revealed that Hà Nội aimed to help start-ups by providing all expenditures and convenient services for free from August 1, 2018. This proposal is expected to be presented at the sixth meeting of the municipal People’s Council in early July, 2018. 

Over the past two years, Hà Nội’s business climate has improved greatly, boosting its standing on the PCI and a much enhanced administrative system.

Hà Nội’s economy maintained steady growth of 7.15 per cent in 2016, 7.31 per cent in 2017 and 7.07 per cent in the first six months of 2018.

He said domestic private investments make up 51.1 per cent of the city’s total investment capital. The city, to date, has attracted 2,200 projects run by private investors, worth more than VNĐ1 quadrillion ($44 billion). 

“In the months to come, Hà Nội will prioritise investment in high-tech, clean energy, housing projects for workers, waste treatment plants, high-tech agriculture, universities, vocational schools and the manufacturing and supporting industry,” Chung said.

As of June 15, more than 4,300 foreign direct investment (FDI) projects valued at $33.38 billion had come to the city. In 2016-17 and the first six months of this year, the city lured $12.46 billion in FDI, equivalent to the number recorded from 1986-2015, Chung said. 

Hà Nội drew more than $5.9 billion in FDI in the first half of 2018, making it the country’s largest six-month FDI attractor for the first time in three decades.

At the conference, Hà Nội signed on co-operation with other localities nationwide. The event also saw the signing of 24 memoranda of understanding between Hà Nội and Hoa Lac Hi-tech Park.

On this occasion, the city handed over investment decisions and licences to 71 projects worth VNĐ397.33 trillion ($17.48 billion), including 11 FDI projects with total investment capital of more than VNĐ130 trillion ($5.72 billion) and 60 domestically-invested projects worth VNĐ267.27 trillion ($11.87 billion).

The conference is the third consecutive annual edition, showing the capital’s commitment to improving the business climate. — VNS



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