Hanoi ranks second in attracting foreign investment

This figure made the capital the second largest destination of FDI in the country over the past year.

The city's gross regional domestic product (GRDP) increased by 3.98% compared to 2019.

Its industrial production index increased by 4.7% over the previous year, while development investment capital in the city reached more than VND413 trillion, a year-on-year rise of 9%. Budget revenue reached more than VND280 trillion, up 3.9%.

The service sector in 2020 increased by 3.29% over the previous year (contributing 2.1 percentage points to GRDP growth), much lower than the 7.27% increase in 2018 and 7.59% in 2019, due to the impact of the COVID-19 pandemic.

Export revenue reached US$16 billion, up 1.8% over the same period last year due to the negative impact of the pandemic and low overall demand across the world.

In 2020, the city had 26.4 thousand newly established enterprises, a decrease of 2% compared to 2019 with registered capital estimated at VND337.7 trillion, down 13%.