Hanoi keeps hastening investment attraction, disbursement
Hanoi recorded encouraging results in investment attraction and disbursement during the first half of 2024, and is poised to push ahead with this work in the coming time.
A stretch of the Belt Road No. 4 project in Hoai Duc district, Hanoi, under construction__Photo: VNA

Hanoi recorded encouraging results in investment attraction and disbursement during the first half of 2024, and is poised to push ahead with this work in the coming time.

The municipal People’s Committee reported that development investment in Hanoi reached VND 208.8 trillion (USD 8.2 billion) during the January - June period, representing a year-on-year rise of 9.5 percent.

Added with USD 43.8 million registered in June, the city recorded USD 1.165 billion in foreign direct investment (FDI) during H1, comprising USD 1.036 billion for 120 new projects, USD 55 million for 78 existing projects, and USD 74 million spent on contributing capital to or purchasing shares of local companies.

Thanks to the effective use of public investment capital, construction activities continued to be sped up in the first six months, the administration said, noting that together with investment attraction, it has also asked contractors and construction units to harness resources to accelerate key projects and infrastructure development, helping boost public investment disbursement.

In 2024, Hanoi has 226 public investment projects on basic construction, consisting of 155 projects launched in previous years and invested with VND 205.5 trillion in total (including VND 24.4 trillion planned to be disbursed this year), and 71 new projects worth VND 7.2 trillion (including VND 1.1 trillion to be disbursed this year). Among them, there are 58 transport projects, accounting for 19.5 percent of the capital plan.

Key projects in the city are being accelerated so as to be completed on schedule, the People’s Committee went on.

It elaborated that the Belt Road No. 4 project in the Capital Region, invested with about VND 12.6 trillion so far, has had 9.6 percent of its workload done. Invested with over VND 7.2 trillion from the city’s budget, the Hoang Cau - Voi Phuc section of the Belt Road No. 1 project (Phase 1) has had 32.4 percent of its investment capital disbursed.

The project on upgrading the Ba La - Xuan Mai section of National Highway 6, with investment totalling VND 8.1 trillion funded by the city’s budget, has seen 7.5 percent of its capital plan allocated.

The city has also disbursed about 7.3 percent of the VND 5.2 trillion in total investment for a project that builds a road connecting Thang Long Avenue with Hanoi - Hoa Binh Expressway.

Meanwhile, the first phase of the Hanoi Children’s Hospital has recorded 53.6 percent of its total investment, nearing VND 785 billion, disbursed. The hospital is expected to be completed and put into use by the end of 2024.

The Hanoi Children’s Palace project, worth over VND 1.3 trillion in total, has had up to 75.8 percent of its capital plan allocated. The facility is scheduled to open in the third quarter of this year.

Hanoi is taking various big and long-term measures to attract investment to many areas and create a favorable environment for projects to be sped up.

Chairman of the municipal People’s Council Nguyen Ngoc Tuan said the city will soon announce the Hanoi Capital Master Plan for the 2021 - 2030 period with a vision to 2050, and the adjustments to the general master plan on building Hanoi until 2030 with a vision to 2050. It will also make implementation plans for these two master plans as soon as they are approved by the Prime Minister.

In particular, special attention will be given to devising concrete measures and detailing progress targets to serve as the basis for implementing projects and calling for domestic and foreign investment.

Authorities will also focus on perfecting land-related regulations and thoroughly deal with prolonged shortcomings and weaknesses pertaining to land management and use, Tuan added.-(VNA/VLLF)

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