Hanoi’s export turnover up in five months despite COVID-19
Hanoi’s export value was estimated at 5.89 billion USD in five months of this year, up 8.1 percent annually, reported the municipal People’s Committee.
Hanoi (VNA) – Hanoi’s export value was estimated at 5.89 billion USD in fivemonths of this year, up 8.1 percent annually, reported the municipal People’sCommittee.
Of the figure, over3.1 billion VND was from domestic enterprises, down 2.7 percent, while theremaining from foreign firms, up 23.7 percent.
Almost all sectorsrecorded increase in export earnings, including mobile phones and spare parts147.2 million USD (2.1 times higher than that of last year's same period), footwear 136.2 million USD (up 39.8 percent), glass and its products 167.5million USD (up 29.8 percent), machinery and equipment 791.5 million USD (up 24.8 percent), wood and woodenfurniture 273.9 million USD (up 24.6 percent).
Only farm produce andpetrol earned less with a respective revenue 315.2 million USD, down 7.1percent, and 231.5 million USD, down 38.2 percent.
In May alone, the city's export turnover was estimated at 1.252 billion USD, down 0.2 percent month-on-month andup 2.5 percent year-on-year. Of which, 683 million USD was from domestic firms,down 0.1 percent monthly and 14.5 percent yearly. The remaining was fromforeign enterprises, representing a monthly decrease of 0.3 percent and anannual increase of 34.5 percent.
Sectors recordedyear-on-year export revenue growth include machinery and equipment 152 millionUSD, transport means and spare parts 125.4 million USD, wood and woodenfurniture 56.5 million USD, petroleum 47.5 million USD, mobile phones and spareparts 26.1 million USD.
Others had theirrevenues drop, including ceramics 17.5 million USD, farm produce 74.9 millionUSD and other goods 366.9 million USD.
The total State budgetcollection in Hanoi in the first five months reached 110.6 trillion VND, or 47 percent of the estimate assignedby the Government, up 6.5 percent year-on-year.
🧜 The municipalauthorities directed agencies and departments to fulfill the dual goals offighting the pandemic and stepping up production of essentials, as well as seekforeign partners to boost exports./.
Vietnam is still a popular investment destination for foreign investors, who poured 14 billion USD into the country during the first five months of the year.
Total registered capital of new foreign-invested projects and additional capital in existing ones in Hanoi amounted to 519.2 million USD in the first five months of this year, according to the Statistics Department of Hanoi.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Illustrative image (Photo: VNA) 
