Hanoi will give priority to improving its business climate and competitive capacity, aiming to be among top ten localities nationwide in Provincial Competitiveness Index (CPI) by 2020.

The information was heard at the fifth conference of the Hanoi Party Committee (16th tenure) held on June 27.

The conference turned spotlight on the socio-economic development plan period 2016-2020, targeting Gross Regional Domestic Product (GRDP) growth of 8.5-9 percent and per income capita reaching 140 million-145 million VND (6,268-6,492 USD). Social investment mobilisation is expected at 2.5-2.6 quadrillion VND (111.9-116.4 billion USD) in the next four years. In the economic structure, service and construction industry account for 67-67.5 percent and 30-30.5 percent while agriculture makes up 2.5-3 percent.

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Regarding urban infrastructure development, the capital city strives to become a green and modern urban area. It targets to increase the rate of public transportation to 20-25 percent, zone off 10-13 percent of urban land for transportation and green the city with planting one million trees.

Secretary of the municipal Party’s Committee Hoang Trung Hai highlighted the city’s economic growth in the first six half of this year, noting that concerted efforts need to be made to realise an economic growth rate of 10-11 percent in the remaining six months of the year.

Focus should be given to investment attraction, administration procedure simplification and developing a transparent administration system, Hai added.

Concerning the city’s socio-economic development plan, he underscored that attention should be paid to the balance of resources to effectively implement the set strategic tasks.

Source: VNA