Hanoi’s FDI attraction in nine months far exceeds yearly target
Hanoi lured 6.27 billion USD in foreign direct investment (FDI) in the first nine months of 2018, up 5.4 times over the same period last year and exceeding the yearly target by 64 percent.
Hanoi (VNA) – Hanoi lured 6.27 billion USD in foreigndirect investment (FDI) in the first nine months of 2018, up 5.4 times over thesame period last year and exceeding the yearly target by 64 percent.
The result made Hanoi the top locality nationwide in terms of FDIattraction.
Of the total, 5.17 billion USD was poured into 417 new projects, while 661million USD was added into 116 underway ones and about 431 million USDcontributed by 543 foreign investors to domestic firms.
At the same time, 70 non-budget invested projects were implemented withcombined capital of 163 trillion VND (7 billion USD), while 41 others receivedadditional 86 trillion VND (3.69 billion USD).
The feasibility reports of four public-private partnership projects wereapproved with total investment of 14.42 trillion VND (620.06 million USD).
Meanwhile, the city also issued investment licences to four new projectsworth 13.94 trillion VND (599.42 million USD).-VNA
This year, Hanoi will see breakthroughs in attracting investment capital, according to deputy director of the municipal Department of Planning and Investment Tran Ngoc Nam.
A survey by the General Statistics Office, Vietnam had nearly 518,000 enterprises by Jan 1, 2017. SMEs reported the highest expansion in number while FDI firms attracted the greatest deal of workers.
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Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
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Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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Illustrative photo (Source: VNA) 
