Hanoi is constantly developing, becoming a potential partner of many big capitals and cities in the region and the world. (Photo: CPV)

Over the past 20 years, Hanoi has strengthened friendship and cooperation in all fields. It has been continuously selected as a location of important international events, including the Asia - Europe Meeting Summit (2004); the 132nd Assembly of the Inter-Parliamentary Union (IPU -132) (2015); the Asia-Pacific Economic Cooperation (2017) and the 2nd DPRK-USA Summit (2019).

Not only focusing on strengthening solidarity and mutual understanding with countries in the region and the world, Hanoi always determines diplomacy must be associated with economic development and foreign investment attraction. Therefore, the city's foreign activities are associated with promotion of trade, investment, and tourism cooperation.

The meetings and talks between city leaders and international partners have gained many positive results. The city has successfully organized many investment promotion events such as the “Meeting Canada” talk; and the talk on developing smart city with the US Department of Commerce and 18 leading US corporations and businesses in information technology, smart cities and e-government.

2018 marked the 3rd year the city successfully organized the conference “Hanoi - Investment and development cooperation” with the participation of about 1,500 domestic and international delegates. During the conference, Hanoi granted investment licences  to 71 projects with a total investment capital of VND397.335 trillion (or roughly over USD17 billion), making Hanoi the leading locality in investment promotion of the whole country, the highest in 30 years of implementing FDI attraction.

Most recently, Hanoi has received many large investment projects, which have positive significance for the development of the capital. Notable are an agreement with Sumitomo Group to invest more than USD4 billion in building smart city in Dong Anh district; an agreement with Fomula One Group to bring Formula 1 (F1) Race to Hanoi; and the cooperation with CNN TV to promote the image of Hanoi to the world.

Economic foreign affairs have made an important contribution to Hanoi's economic growth and socio-economic development. In the past 10 years, Hanoi has always achieved a high growth rate, at 7.41% per year on average. Exports of goods, services and export markets of Hanoi have expanded to 187 regions, countries and territories.

The city is now continuing to make efforts to renew policies to attract foreign investment by calling on large-scale projects with high added value, use of modern and environmentally friendly technologies; giving priority in healthcare, information technology, high technology, biotechnology, infrastructure, and training of high quality human resources; and supporting existing investors to expand production and business activities.

It will also focus on expanding and strengthening cooperation with the capitals and cities of countries and territories, international inter-urban organizations, governmental and non-governmental organizations through memorandums of understanding, cooperative programs and projects that have practical socio-economic significance. Meanwhile, it will expand trade and tourism relations with other countries; strengthen FDI attraction; and promote the image of Hanoi which is developing and integrating into the world./.

Compiled by BTA