Hanoi proposes strategies to draw in substantial financial investments

In the bustling heart of Vietnam, Hanoi continues to attract significant foreign investment, as evidenced by the $77.4 million inflow in July 2025 alone. This investment is channeled towards projects that focus on research and development, technology transfer, and high-tech workforce training, as outlined by the Hanoi Department of Finance.

The Hanoi Department of Finance has been assigned a pivotal role in this drive, responsible for publishing a list of priority projects, setting capacity and experience requirements, defining investor criteria, reviewing dossiers, selecting investors, and overseeing investment procedures. Additionally, they will handle tasks related to attraction, implementation, and post-investment management of projects involving strategic investors.

One such strategic investor is OSI, with their Grade A office development, Oriental Square, rapidly gaining recognition in Hanoi's Starlake. Another notable development is the Toshin Development's Westlake Square Hanoi, a high-end mixed-use complex in the Starlake urban area. The construction of Westlake Square aims to set a new standard for high-end retail and lifestyle spaces in Hanoi.

The Hanoi Management Board of High-Tech Parks and Industrial Zones has been tasked with leading efforts to draw in investment, while the Hanoi Tax Department will implement and guide tax incentive policies for investors, monitor their application, and address any related challenges. Preferential customs procedures will be applied by the Customs Sub-Department for projects under the Law on Capital, ensuring transparent and expedited clearance.

Local departments and commune- and ward-level people's committees will review and propose projects in priority sectors as stipulated in Resolution 17. The Hanoi Department of Finance will also set clear processes for selecting strategic investors, establish mechanisms to monitor and assess their commitments, and coordinate on developing incentive policies.

A significant milestone in Hanoi's development is the construction of the Ngoc Hoi Bridge, a major development over the Red River aimed at boosting regional connectivity. This project marks a significant step in Hanoi's National Day celebrations.

The investment drive in Hanoi has shown promising results, with FDI inflows in the first seven months of 2025 reaching $3.75 billion, an increase of 91% from the previous year. With these strategic investments and developments, Hanoi continues to solidify its position as a hub for innovation and economic growth in Vietnam.