HANOI: The capital has undergone a significant transformation in its economic structure, outpacing other provinces and cities in Vietnam in recent years.
This shift is largely attributed to the effective utilisation of the capital’s strategic advantages and potential, fostering a more modern and sustainable economic framework.
From 2011 to 2025, Hanoi’s economic scale is projected to reach US$63bil.
The implementation of the Hanoi Party Committee’s Programme No 02-CTr/TU, launched on March 17, 2021, aims to accelerate the renovation of growth models, restructure the economy, and enhance international integration.
After four years, this initiative has delivered remarkable results.
According to the Hanoi Steering Committee for Programme No 02-CTr/TU, the capital has achieved three key highlights: rapid growth, high quality, and progressive transformation.
The average gross regional domestic product (GRDP) is expected to increase by 6.57% from 2021 to 2025, exceeding the national average by 1.1 times.
By 2025, the economic scale is projected to be 1.42 times that of 2020, accounting for 41.54% of the Red River Delta region and 12.6% of the national economy. The average GRDP per capita is estimated to reach US$7,200 annually.
Social investment in the region, a vital driver of growth, is anticipated to reach 2.48 quadrillion dong (US$94.2bil), 1.5 times higher than the previous five-year period (2016 to 2020).
The city has also prioritised expediting stalled projects and optimising land use, contributing to economic growth while reducing waste.
Hanoi has attracted approximately US$11.5bil in foreign direct investment, underscoring the effectiveness of its economic policies.
The city’s economic structure has shifted positively towards modernity, with the service sector now accounting for 65.6% of GRDP, industrial construction at 32.4%, and agriculture at around 2%.
Notably, Hanoi’s budget revenue is projected to exceed 2.2 quadrillion dong, 1.8 times greater than the previous five years, representing about 25% of the national total.
At the recent 18th Congress of the Hanoi Party Committee, general secretary To Lam emphasised the need for the capital to develop a new governance model capable of effectively coordinating and addressing pressing issues while fostering sustainable long-term development.
Looking ahead, Hanoi aims for a growth trajectory that is high-quality, effective, and sustainable.
During the Congress, Vice Chairman of the Hanoi People’s Committee Truong Viet Dung announced the city’s goal of achieving a GRDP growth rate of 11% or higher and an average income of US$12,000 by 2030. — Viet Nam News/ANN
