Hanoi attracted 43 new foreign-invested projects in February 2020

According to the Hanoi Department of Planning and Investment, in February this year, the Department granted investment licenses to 43 foreign-invested projects with a total investment capital of US $ 22.7 million

In which, there are 41 projects with 100% foreign direct investment and 2 joint venture projects. In addition, Hanoi also had 10 projects increased investment capital with the registered investment capital of 5.3 million USD; Foreign investors contributed capital, buying capital contribution of 35.7 million USD.

Accumulating the first 2 months of the year, the total registered capital of newly registered foreign-invested projects and adjusted capital increase reached 205.3 million USD, of which 111 newly registered projects with a total capital of 52.9 million dollars; 17 additional projects to increase investment capital of76.7 million USD; Foreign investors contributed capital, buying capital contribution of 75.7 million USD.

Also according to the report of Department of Planning and Investment, the industrial production index in February increased by 5.8% (increased by 6.1% in comparison with same period last year). Some industrial products dropped sharply such as: Beer and wine (down 23.2%); Footwear (down 5.5%); Plasstic products (down 12.5%); ... Some products for epidemics prevention and control increased such as: Pharmaceutical products (up 55.6%); Pesticides, chemical products (up 46.3%); Antibiotics form powder, nuggets (up 38.5%); ... At the same time, exports decreased by 19% (the same period increased by 15.5%). Import turnover decreased by 20.7% (the same period increased by 10.4%). Total revenue of transport, warehousing, supporting services and postal delivery decreased 0.9% (the same period increased by 12.3%).

Foreign investors still pay great attention to Hanoi

In February, there were 6/11 commodity groups with a decrease index including: Traffic decreased by 2.24%; Culture of entertainment and tourism decreased by 1.58%; Housing, electricity, water, fuel and construction materials decreased by 0.24%; Garment, hat, footwear decreased by 0.19%; Beverage and tobacco decreased by 0.11%; Post and telecommunication reduced by 0.13%.

Hanoi Department of Statistics reported that in February 2020, the investment capital implemented from the state budget managed by the City reached VND 2,055 billion, up 26.8% over the same period in 2019 and equaling 92.9% of January 2020. Generally, in the first 2 months of 2020, investment capital from this source reached VND 4,266 billion, an increase of 4.5% compared to the same period of 2019 and accounting for 9.4% of the year plan.

It can be said that, amid the complicated development of Covid-19, foreign investors still pay great attention to Vietnam. The global investment wave continues to shift and restructure under adverse effects from Covid-19 epidemic. Director of the Department of Planning and Investment - Mr. Nguyen Manh Quyen forecasts that industrial production in the first quarter of 2020 will still increase, but lower than the increase of the previous years. The index of industrial production increased by 5.75%. Even if the disease is controlled in the first quarter of 2020, industrial production in the second quarter of 2020 will still faces difficulties.

The Ministry of Planning and Investment has now launched scenarios to attract foreign investment in 2020 in the context of the Covid-19 epidemic. Specifically, if the epidemic ends in the first quarter, the total foreign investment capital is 38.6 billion USD; At the end of the second quarter, this figure will be 38.2 billion USD. Both forecasts are higher than the 2019 results of $ 38 billion and approximately the original goal of $ 39.6 billion (set before the Covid-19 epidemic).

The Government's request to the ministries and localities, including Hanoi, to persevere the growth goals, and at the same time continue to accelerate the reforms and improve the business environment so that Vietnam can continue to be an attractive investment destination.

Vietnam maps showing administrative units, sources of critical raw materials and industrial zones locations.