Ha Noi needs new momentum for growth: Prime Minister

Monday, Jun 18, 2018 08:47

Prime Minister Nguyen Xuan Phuc delivers a speech at the Ha Noi 2018 - Investment and Development Co-operation conference. — VNS Photo

Ha Noi needs to seek new momentum for growth to materialise its development vision, said Prime Minister Nguyen Xuan Phuc.

Phuc was speaking at the conference ‘Ha Noi 2018 - Investment and Development Co-operation’ held in Ha Noi on Sunday, the city’s largest investment promotion forum in the year with the participation of nearly 1,000 businesspeople and investors.

Ha Noi should devise a master plan and action programme for its development, he said, taking Cau Giay District as an example, which has emerged from a very poor locality into an urban area with industrial value exceeding VND43 trillion (US$1.9 billion) and State budget contribution of more than VND7 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 Ha Noi’s achievements in development, especially its efforts in building an e-Government, PM Phuc expressed his hope that the city would promote its role in development in the Red River Delta region and the country.

“The event demonstrated Ha Noi’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 Hoang Trung Hai said.

Vu Tien Loc, chairman of Viet Nam Chamber of Commerce and Industry said Ha Noi 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 Ha Noi.

“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,” Loc added.

Chairman of the municipal People’s Committee Nguyen Duc Chung revealed that Ha Noi 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, Ha Noi’s business climate has improved greatly, boosting its standing on the PCI and a much enhanced administrative system.

Ha Noi’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 VND1 quadrillion ($44 billion).

“In the months to come, Ha Noi 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.

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

On this occasion, the city handed over investment decisions and licences to 71 projects worth VND397.33 trillion ($17.48 billion), including 11 FDI projects with total investment capital of more than VND130 trillion ($5.72 billion) and 60 domestically-invested projects worth VND267.27 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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