Hanoi - one of the bright spots of the country in FDI attraction.

Sunday, 02/10/2022 21:11
Thanks to the development of a network of industrial parks and clusters as well as efforts to accompany investors, Hanoi has remained one of the bright spots of the country in foreign direct investment (FDI) attraction, reported VNA.
Illustrative image (Source: VNA) 

According to the municipal Department of Planning and Investment, so far this year, the city has attracted about 992.4 million USD in FDI, up 15% year on year, including 141.3 million USD invested in new projects.

The result helps the capital city remain among the top localities in FDI attraction.

Nguyen Ngoc Tu, Vice Director of the department, said that the FDI projects are mostly in the fields of import-export, goods distribution, construction, information technology, telecommunications, processing and manufacturing.

The majority of investment in the city is from Japan, the Republic of Korea and Singapore, while that from Europe and the US accounts for only 10% of total FDI capital, he said.

FDI projects have played an important role in promoting the city’s economic development, serving as a driving force for its exports and technology renovation, the official added.

Particularly, the FDI sector has helped expand the export market and supported domestic firms to join the global supply chain through the supply of materials and business cooperation, Tu held, adding that FDI firms have also motivated domestic firms to renovate their technologies through the pressure from competition and requirements in adapting to the globalisation.

However, he also pointed to a number of shortcomings in the city’s FDI quality and efficiency. FDI has still concentrated in a number of labour intensive sectors using low technology, while the scale of the majority of FDI projects is small. The efficiency of the projects has yet to match their capacity and advantages while FDI firms’ connections with other economic sector remains poor.

Tu said that in the future, the city will pay greater attention to holding dialogues with investors to remove difficulties and obstacles facing them, and prioritising projects with large investment.

According to experts, one of the reasons that make Hanoi attractive to investors is the development of its infrastructure system.

In the 2021-2025 period, the city plans to establish 2-5 new industrial parks, aiming to meet the demand of investment attraction and industrial production development.

Agriculture sector works to deliver on COP26 commitments

According to VNA, the Ministry of Agriculture and Rural Development has decided to carry out a project on tasks and measures realising outcomes of the 26th United Nations Climate Change Conference.

Illustrative image (Photo: VNA) 

The project was approved by the Prime Minister under a decision dated July 25, 2022.

Accordingly, the ministry will prioritise reviewing and proposing amendments to laws, mechanisms and policies in line with commitments to reduce greenhouse gas emission to zero by 2050, while ensuring national defence-security and maintaining energy security.

A rice-shrimp farming model brings sustainable results (Photo: VNA) 

It will also issue a national plan to realise the Glasgow Leaders' Declaration on Forests and Land Use for the 2022-2030 period and build a scheme to protect, develop and improve the quality of forests, increase carbon consumption and storage from forests.

For a long term, the ministry will develop agriculture in an ecological, organic and eco-friendly way.

At the same time, it will launch a project on developing smart agriculture value chain infrastructure in adaptation to climate change, as well as use technological advances in cultivation and animal farming.

Further attention will be paid to the protection, preservation and sustainable use of forests and forestry land.

The ministry will review demand for clean technology and low carbon emissions in areas to fulfill the goal of achieving zero carbon emission by 2050.

Hanoi’s bus passenger traffic grows 25%

Buses in Hanoi served 212.7 million passengers in the first nine months of 2022, rising by over 25% from a year earlier, reported VNA.

A bus runs on a street in Hanoi's Thanh Xuan district (Photo: VNA) 

The passenger number has bounced back since the second quarter and gradually increased month on month.

This result is partly attributed to the opening of 11 new bus routes, including five connected with the Cat Linh - Ha Dong urban railway and six using electric vehicles, raising the number of e-bus routes to nine.

Hanoi has also adjusted and expanded the itineraries of eight routes, extend the running time of 14 routes, and upgrade support infrastructure, helping improve services and ensure safety for both vehicles and passengers.

The capital currently has 154 bus routes, including 132 subsidised routes, eight non-subsidised ones, 12 connecting the city with neighbouring provinces, and two City Tour routes.

The network has covered all district-level localities and is being expanded to more universities, colleges, high schools, large industrial parks, residential areas, craft villages, and tourist sites.

Hanoi targets that public passenger transport will meet 30 - 35% of travel demand by 2025.

Festival introduces traditional costumes of ethnic minorities in northern region

A festival of traditional costumes of ethnic minority groups in Vietnam’s northern region will take place from November 18 to 20 at the Vietnam National Village for Ethnic Culture and Tourism in Son Tay District on the outskirts of Hanoi, reported NDO.

Photo for illustration (Source: NDO) 

The event will gather the participation of ethnic groups from 17 provinces and cities in the northern region, including Hanoi, Phu Tho, Hoa Binh, Son La, and Ha Giang, among others.

In addition to shows introducing traditional costumes of the participating ethnic groups, the three-day festival also features an exhibition of typical cultural products in the northern region and demonstrations of embroidery and hand-woven traditional crafts.

A meeting with artisans and people who have made great contributions to the preservation and promotion of the ethnic culture in the northern region, and a conference discussing solutions to safeguard and uphold traditional costumes of Vietnamese ethnic minorities will be scheduled on the occasion.

The festival is jointly held by the Party Central Commission for Education and Communication, the Party Central Commission for Mass Mobilisation, the Vietnam Fatherland Front, the National Assembly's Council for Ethnic Affairs, the Committee on Ethnic Minority Affairs, the Ministry of Culture, Sports and Tourism, the Ministry of Information and Communication, the Ministry of Public Security, Vietnam Television, and functional agencies.

It aims to honour the cultural essence of ethnic groups in the northern region while providing a venue for local people to exchange experiences in safeguarding their culture and tightening solidarity among Vietnamese ethnic groups./.

Compiled by BTA