Chung said that Hanoi currently has over 8 million residents, and it also welcomes 2.2 million people who come regularly for work, study and doing business.

Each year, the city welcomes about 24.5 million visitors, including 6.5 million foreigners.

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At the meeting

In the past 10 years, the city’s GDP grew 7.41 percent per year, while per capita income of locals hit USD 5,200 per year, he noted.

He said that the city is currently focusing on expanding transport infrastructure, building e-government for smart city building, and developing high quality human resources towards a target of training about 300,000 IT engineers by 2025.

However, Hanoi is facing a number of challenges, including water and air pollution, traffic congestion, and fire risks, he said, stressing that the city always values partnership with foreign firms, including those from Singapore, to tackle those problems.

At the same time, Hanoi encourages businesses to invest in start-up ecosystem and smart city, including air censoring, water supply, fire prevention as well as smart transport, tourism and trade center building, he said.

He affirmed that the city will give support and incentives to investors, including assistance in vocational training, and the construction of houses for workers.

For his part, Teo Siong Seng lauded Hanoi’s policies for sustainable development and programs to encourage investment in the city.

He said that the areas encouraged by Hanoi are also among strengths of Singaporean firms, which wish to invest in, including infrastructure development, technology, transport, services, human resources training and health care.

Singaporean firms also hope to support local businesses in Hanoi to expand their operation, thus contributing to promoting the Vietnam-Singapore partnership.

Source: VNA