At the construction site of the flyover at Mai Dich - Ring Road No. 3 intersection. — VNA/VNS Photo

The development investment in Hà Nội in the first quarter of 2024 increased by 8.5 per cent to VNĐ86.6 trillion (US$3.48 billion) compared to the same period last year, the municipal People’s Committee has announced.

Of the total investment, VNĐ31.4 trillion was from the State, VNĐ48.7 trillion from the non-State sector and VNĐ6.5 trillion from direct foreign investment (FDI), which saw year-on-year increases of 10%, 8.2% and 4.4%, respectively.

By investment categories, 60.6% of the city’s development investment in the first quarter of this year was channeled into basic construction. Funding for purchasing fixed assets for production; major repairs and asset upgrades; additional working capital and other investment capital also increased.

In March, Hà Nội licenced 15 new FDI projects with total registered capital of $33.1 million. In addition, 14 operating projects were permitted to increase by $12.5 million in total. Nine foreign investors contributed capital and bought shares with combined investment of $1.8 million..

In the first quarter of 2024, the city attracted $946.8 million in FDI. Of that, 42 new projects were licenced with total capital of $902.6 million; 31 projects increased their investment by $21.6 million; foreign investors contributed capital and purchased shares worth $22.6 million.

Besides activities to attract investors, Hà Nội has paid much attention to speeding up infrastructure development projects, particularly transport ones such as Ring Road No. 4 running through Hà Nội, Hưng Yên and Bắc Ninh; Hoàng Cầu-Voi Phục section of Ring Road No. 1; upgrading Ba La-Xuân Mai section of National Highway No. 6; and Tây Thăng Long route from Võ Chí Công street (Tay Ho district) to Sơn Tây township. — VNS