Promising FDI outlook for Hanoi amidst global Covid-19 crisis

The Hanoitimes – FDI to Hanoi continues to rise while global investment activities shrink due to the growing impacts of the Covid-19 pandemic. Despite the complicated Covid-19 progression globally, the foreign direct investment (FDI) outlook for Hanoi remains positive, thanks to the city's strong efforts to improve the business environment. Data: Municipal Statistics Office. Chart: Nguyen Tung. In the first five months of 2020, FDI commitments to Hanoi increased 6.1% against the previous month to US$1.05 billion. The growing trend of FDI in Hanoi demonstrates the city authorities' efforts to reform administrative procedures and ensure a favorable investment environment, especially at a time when global investment activities continue to shrink. At a recent meeting with Secretary of the Hanoi Party Committee Vuong Dinh Hue, CEO of Japan-based Aeon Mall Vietnam Tetsuyuki Nakagawa revealed the group's plan to invest in a shopping mall and a parking lot at Giap Bat bus station, stressing this would be Aeon's largest investment project to date in Vietnam. In March, Samsung started construction of a US$200-million R&D center project in Hanoi, the largest of its kind in Southeast Asia, which showed the South Korean IT giant's vision to make Vietnam become its strategic base for… Read full this story

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