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In the first five months of this year, Hanoi has seen a 2.1% year-on-year increase in its index of industrial production (IIP). Processing and manufacturing, electricity production and distribution, and water supply and waste water treatment have all seen increases. Additionally, 13,000 enterprises were established in the city between January and May with a total registered capital of 125.9 trillion VND (5.35 billion USD). Despite the global economic crisis, Hanoi still attracted nearly 156.4 million USD in May. Lastly, Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) has completed a 1.5 billion USD deal to purchase a 15% stake in Vietnam’s VPBank.