Economic Status in Hanoi
Hanoiˇ¦s population would reach 3.2 ˇV 3.3 million people by the year 2010, per capital GDP is hoping to have an increase of 2.4 times in comparison to that in 2000. GDP growth rate is 9.8% yearly. There are 1.5 millions working-age people. Hanoi is the city which has the highest qualified labor force with skillful occupation. Trained labor force is accounted for 34 percent. Over the past 5 years, the regionˇ¦s GDP growth has been increased by 15% per year in extended industry. There is also an increase of 22.16% per year in foreign capital investment area, driven mainly by industrial expansion, consumer spending and fixed investment.
Nearly 80 percent of the Vietnamese population is involved in agriculture, which accounts for 30 percent of the GDP and 40 percent of the nationˇ¦s export.
Although the demand for machinery and equipment in the industry is huge, the domestic machinery industry cannot satisfy the internal demand because (despite some skill in copying and reverse-engineering) it has proven poor in design and quality. For the most part, domestic equipment is used in small scale processing factories. Medium and larger food processing enterprises and even smaller firms producing high quality products must rely on imported machinery and equipment. The food processing sector is forecast to maintain an average annual growth rate of 10-15 percent for the short-term.