PM urges Hanoi to mobilise all resources for development

ABO/NDO- Hanoi should maximise all resources for development investment, especially the public-private partnership, Prime Minister Pham Minh Chinh said at a meeting between permanent Cabinet members and the Standing Board of the municipal Party Committee on May 6.

The leader urged the capital city to quickly complete its master plan and other relevant planning schemes, and handle shortcomings in the real estate and corporate bond markets.Attention should be paid to the growth engines of investment, export and consumption, he continued, asking the city to continue streamlining administrative procedures and improving its business environment.

He stressed that greater efforts are needed to restructure the industrial sector, targeting the industries that have advantages and potential, promote support industries, and prioritise the services with added values and sectoral linkages like finance, logistics and e-commerce.

The PM also suggested Hanoi establish green, smart industrial parks, optimise scientific-technological applications to raise productivity and competitiveness, and promote tourism.

Socio-economic development should go in tandem with cultural conservation and environmental protection, he said, asking the city to roll out better social welfare policies and invest more in education and health care.

Apart from ensuring national defence and security, and social order and safety, Hanoi needs to improve the efficiency of external relations and international integration, and give more heed to Party building, Chinh said.

According to a report presented at the working session, Hanoi’s gross regional domestic product (GRDP) grew 5.8% in the first quarter of this year, and 5.86% in 2021 and 2022.In the first four months, its budget collection reached nearly 178 trillion VND (7.59 billion USD), completing 50.4% of the estimate, up 21.6% year-on-year.

Hanoi now ranks second nationwide in terms of foreign direct investment (FDI) attraction with over 7,000 projects worth 61.7 billion USD. Between January and April, the city lured 1.71 million USD in FDI, representing a year-on-year rise of up to 260%.

(Source: NDO)