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Capital enjoys highest GDP growth in five years

Viet Nam’s capital city of Ha Noi has reported a Gross Domestic Products (GDP) growth rate of 11.2 percent for the first half of this year, the highest increase in the past five years.

In the first six months of 2007, Ha Noi’s industrial growth was estimated to reach 21.3 percent over the same period last year. The foreign-invested sector recorded the highest growth rate of 34.6 percent, followed by non-state enterprises at 24.9 percent.

Meanwhile, the State-owned sector saw a modest increase of 5.9 percent.

The city’s export turnover was expected to surpass the 2 billion USD mark in the six-month period, representing a year-on-year rise of 21.8 percent.

The city also posted total social investment of over 19 trillion VND (nearly 1.2 billion USD), up 17.6 percent. Of which, domestic capital rose by 16.5 percent and foreign investment, 23.5 percent.

During the period, around new 5,200 enterprises was set up in the capital with total registered investment capital of 40 trillion VND (2.5 billion USD), marking year-on-year increases of 2 percent and 173 percent, respectively.(VNA)