A corner of Hanoi (Photo: VNA) Hanoi (VNS/VNA) - Hanoi should focus on improving its infrastructure systemwhile hastening administrative reforms to attract investors eyeing Vietnam amidthe global production shift, experts have said.
According toDeputy Head of the Party Central Committee’s Economic Commission Nguyen Huu Nghia,Hanoi plays an important role in the northern key economic region and inimproving regional links.
It wasnecessary for the capital city to promote regional economic development,Nghia said, adding that the focus should be placed on attracting foreign directinvestment (FDI) on offer due to the global shift of value chains pushed by theCOVID-19 pandemic.
An importantfactor was developing the urban infrastructure system, said Tran Quoc Cuong,Deputy Head of the Party Central Committee’s Commission forInternal Affairs.
Cuong said Hanoihad seen considerable infrastructure development in recent years, mostly in thecapital city’s northern and western parts. Cuong said more attention should bepaid to developing the infrastructure system in the city’s south.
He said thatHanoi should consider building an airport in the southern region to reduce thepressure on Noi Bai International Airport and contribute to developing theeconomic triangles Hanoi – Hai Phong – Quang Ninh and Hanoi – Thanh Hoa – NgheAn.
Nguyen Mai,Chairman of the Vietnam Association of Foreign Investment Enterprises, saidwhat was important to Hanoi now was not how much FDI the city attracted but thequality of the investment.
To competewith other countries in attracting FDI, Mai said Hanoi in particular and Vietnammust hasten administrative reforms to create favourable conditions forinvestors.
In addition,Hanoi must focus on developing a skilled labour force and tackling trafficcongestion and environment pollution, Mai said.
Besides,attention should be paid to improving the infrastructure system and buildingindustrial zones with developed infrastructure systems and logistics services.
According tothe municipal Department of Planning and Investment, the capital city is nowmore selective in attracting FDI.
The capitalcity is developing FDI attraction strategies for specific markets, withthe Republic of Korea, Singapore, Taiwan, the US, the EU, Australia andNew Zealand key target markets.
“Hanoi willfocus on calling for FDI in large-scale projects and highly competitiveproducts and those which promote small and medium-sized enterprises to engagein the global value chains of multinational corporations, through which, thecity will receive technology transfer and could develop the supportindustries,” said Nguyen Manh Quyen, Director of the municipal Department ofPlanning and Investment.
Hanoi aimsto attract 30-40 billion USD in registered FDI in 2021-2025 period with thedisbursed capital of around 20-30 billion USD. Projects which used advancedtechnologies to increase operational efficiency and protect the environment areset to make up 50 percent in 2025 and 100 percent by 2030. The localprocurement rate is expected to increase to more than 30 percent in 2025 and 40percent in 2030.
Quyen saidthe capital would enhance investment promotion, support investors inimplementing their projects and protect their rights.
In addition,e-government would be developed to reduce time and costs for enterpriseswhile the city would act to increase investors’ access to land.
He said thecity was speeding up the construction of infrastructure in industrial zones andindustrial clusters. Statistics showed the city had 17 industrial zones and 107industrial clusters.
Hanoi hasbeen among top localities in attracting FDI in recent years. In 2018 and 2019,the capital city ranked first out of 63 provinces and cities in Vietnam in FDIattraction with registered capital of 7.5 billion USD and 8.67 billion USD,respectively.
In the firstseven months of this year, Hanoi attracted around 2.82 billion USD inFDI and the city expects to attract 5 billion USD for the full year./.
VNA
