On September 18 in Hanoi, the Hanoi Department of Finance and the Vietnam Association of Foreign-Invested Enterprises (VAFIE) officially signed a Memorandum of Understanding (MOU) on cooperation to jointly implement investment promotion activities for the 2025–2030 period. The agreement marks an important step forward in strengthening investment attraction and promoting socio-economic development in the capital city.
The Hanoi Department of Finance and VAFIE have officially signed an MOU on cooperation for investment promotion in the 2025–2030 period.
New Momentum for the Capital’s Economic Growth
Over the years, Hanoi has maintained its position as the nation’s political–administrative center and one of the country’s major economic, cultural, scientific, and international exchange hubs. The city’s economy continues to grow steadily, with a positive shift toward high-quality services, high-tech industries, and ecological agriculture.
To remain among the leading localities in attracting foreign direct investment (FDI), Hanoi has consistently improved its investment environment, advanced administrative reforms, and enhanced transparency to create favorable conditions for businesses. Despite these achievements, the city still has significant development potential, requiring more proactive and extensive investment promotion and engagement with the domestic and international business community.
Speaking at the signing ceremony, Mr. Le Trung Hieu, Deputy Director of the Hanoi Department of Finance, emphasized:
“The cooperation with VAFIE will create new momentum for the city’s investment promotion efforts and open wider avenues for connecting authorities, businesses, and experts, helping Hanoi become one of the most attractive destinations in the region.”
Implementation of Key Investment Promotion Activities
Immediately after the signing of the MOU, the two parties will jointly develop an investment promotion plan for 2026–2030, aligned with the city’s development achievements in the past five years and its long-term strategic goals. Key areas of cooperation include:
Conducting research, forecasting, and identifying potential markets; preparing specialized materials for investment promotion.
Organizing conferences, workshops, and business dialogues to strengthen connections between authorities, economic experts, and investors.
Collecting proposals and innovative recommendations from businesses and experts to advise on solutions for Hanoi’s socio-economic development.
Coordinating the organization of domestic and international investment promotion events and welcoming delegations of investors to survey Hanoi’s investment environment.
VAFIE expects that this cooperation will not only enhance the effectiveness of investment promotion but also create favorable conditions for businesses to develop sustainably in Hanoi.
Commitment to Improving the Investment Environment
As an advisory body to the Hanoi People’s Committee, the Department of Finance has implemented various measures to create an open and business-friendly investment environment. The city has issued several key policies, including:
Resolution No. 17/2025-NQ-HDND on attracting strategic investors;
Resolution No. 16/2025-NQ-HDND on supporting small and medium-sized enterprises (SMEs) for 2026–2030.
Hanoi has also rolled out numerous programs supporting enterprises, such as start-up and innovation initiatives, digital transformation support, human resource development, and business incubation.
These efforts have produced positive results, helping the city’s business community enhance competitiveness, expand markets, and integrate more deeply into the global economy.
The city is currently drafting a support plan for SMEs for 2026–2030, with a focus on expanding program scale and quality, and introducing new components such as developing a consultant database and supporting the adoption of digital transformation solutions.
Expectations for Breakthroughs in Investment Attraction
The signing of the cooperation MOU between the Hanoi Department of Finance and VAFIE is expected to mark the beginning of a new phase of partnership, contributing to more effective investment attraction and supporting the city’s development towards a modern, green, and sustainable capital.
Deputy Director Le Trung Hieu affirmed:
“With the city leadership’s strong commitment and the close cooperation of the business community, Hanoi will continue to strengthen its position as a dynamic, safe, and highly attractive investment destination in the region and globally.”