Hanoi Attracts $1.12 Billion in FDI Over Five Months

In May, Hanoi attracted $98.6 million in foreign direct investment (FDI), bringing the total FDI for the first five months of the year to $1.12 billion. The municipal Department of Statistics reported that over $1.02 billion was invested in 92 new projects from January to May. Additionally, $36.8 million was added to 64 existing projects, and $57.9 million was spent on capital contributions or purchasing shares of local companies.

During this period, Hanoi saw the establishment of 12,900 new enterprises with a total registered capital of 124.3 trillion VND ($4.9 billion), reflecting a year-on-year decrease of 2% in the number of companies and 3.5% in capital. Conversely, 5,400 businesses resumed operations, marking an 18.5% increase compared to the same period last year.

Vice Chairman of the municipal People’s Committee, Nguyen Manh Quyen, credited these results to efforts in administrative reform and improving the investment environment. He emphasized that Hanoi is leading the country in decentralization and authorization in handling administrative procedures, which has increased interest from foreign businesses in investing in the capital.