Hanoi recorded positive economic figures in the first quarter of 2019, making the capital city one of the top 10 localities with the best economic governance quality, according to Vice Chairman of the municipal People’s Committee Nguyen Van Suu.

A view of Phap Van intersection in Hanoi. (Photo: VNA)

Delivering a report at the 18th meeting of the municipal Party Committee on April 10, Suu said Hanoi sustained a growth pace roughly equivalent to that in the same period last year as the gross regional domestic product (GRDP) grew by 6.99% in the first quarter of 2019, compared to the 6.98% rise in the first three months of 2018.

The state budget revenue reached VND68.1 trillion (over US$2.9 billion), equivalent to 25.9% of this year’s target. Total investment in society increased 10.5%, compared to the hike of 9.5% during the same period last year. Meanwhile, the consumer price index climbed 3.96% during the past quarter.

Notably, the city’s investment climate has been improved considerably with its Provincial Competitiveness Index (PCI) rating in 2018 jumping up four places from the previous year to rank 9th among 63 provinces and centrally-run cities nationwide. With this result, Hanoi has reached its target – entering the top 10 localities in the PCI rankings – for the 2015-2020 period two years ahead of schedule, Suu noted.

He added that with maintained urban technical infrastructure, Hanoi has continued to ensure adequate power and water supply, water drainage, wastewater treatment, environmental hygiene, and lighting.