Hanoi received an estimated 866.8 million USD in foreign direct investment (FDI) in January, as reported by the municipal Statistics Office.

This amount includes 859.4 million USD registered for 10 new projects, 5.1 million USD added to six existing projects, and 2.3 million USD invested in seven transactions contributing capital to or acquiring shares of local businesses.

Throughout the month, Hanoi saw the establishment of 2,529 new companies with a total capital of 35.4 trillion VND (1.4 billion USD), marking a 54% increase in numbers and a 2.4-fold year-on-year growth. Additionally, 3,660 businesses resumed operations, reflecting a 50% increase.

While 12,300 businesses registered for the suspension of operations, 457 others were dissolved, marking respective increases of 56% and 52%, according to available data.

The Statistics Office noted that consumer demand has continued to grow compared to the final months of 2023, especially with the approaching Lunar New Year (Tet) festival. Retail sales of goods and consumer service revenue totaled 68.8 trillion VND in January, up 3.2% month-on-month and 9.3% year-on-year.

Nguyen Manh Quyen, Vice Chairman of the Hanoi People’s Committee, stated that this year, the city will prioritize administrative reforms to streamline procedures and create a favorable environment to attract both domestic and foreign investors.