Hanoi has become the leading locality nationwide in foreign direct investment (FDI) with total investment during the first four months of this year accounting for 30.6 percent of the total capital poured into the Vietnamese economy.

According to the Ministry of Planning and Investment, in the first five months of this year, the city lured 4.75 billion USD in investment.

The ministry is considering an horse racing and entertainment complex project worth 5.3 billion USD in the city as well.

In order to complete the target of FDI equivalent to or higher than last year’s 7.5 billion USD, the city will continue to attract more big projects, while supporting investors to process investment procedures and implement their projects.

Last year, the city’s rose 4 positions on competitiveness index over 2017 to reach ninth place out of 63 localities.

This year, the city will focus on investment promotion through conferences and meetings with investors, while speeding up the licensing of projects and developing infrastructure system to lure investors.

The city will prioritise a number of sectors for investment, including information technology, innovation, biotechnology, tourism, education-training, healthcare, logistics, finance, and research and development.