Hanoi needs $160 billion to meet growth targets

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Hanoi will need some US$160 billion over the next 10 years for a grand project to implement is ambitious socio-economic development plans, a municipal meeting heard on Wednesday.

According to Hanoi's People's Committee, the capital could be mobilized mainly from non-public companies, the state budget and state-owned companies.

Known as the General Plan for Hanoi's Economic and Social Development by 2020 with a vision for 2030, the project aims to increase Hanoi's income per capita to $5,000 a year by 2020.

The city's income per capita last year was VND32 million ($1,681) a year.

Hanoi also wants to rank around the 61st-62nd among "150 cities with the world's largest economy scales" by 2030, according to the 19th meeting held by Hanoi Communist Party's Committee.

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