HANOI: Local authorities nationwide have pledged to step up public investment, remove development bottlenecks and unlock new growth drivers in the second half of financial year 2026.
This reaffirmation underscores their determination to help the country achieve double-digit economic growth this year.
Speaking at the government’s regular meeting for June and teleconference with local authorities last Saturday, leaders of major cities and provinces outlined measures to accelerate growth, improve public investment disbursement and create new momentum for economic expansion.
Chairman of the Hanoi People’s Committee, Vu Dai Thang, said the capital posted gross regional domestic product (GRDP) growth of 8.22% in the first six months of the year.
This was its highest first half growth rate in recent years.
Budget revenue reached about 410 trillion dong, while public investment disbursement stood at 64 trillion dong, equivalent to more than 53% of the annual target assigned by the Prime Minister, and exceeding the pace recorded in the same period of previous years.
Despite the positive results, Vu acknowledged that Hanoi has yet to meet its double-digit growth target.
He said the city has targeted that goal in the remaining months of the year, by accelerating implementation rather than lowering expectations.
According to Vu, Hanoi will focus on mobilising and efficiently using all available resources while maximising the advantages provided by Capital Law to create new growth momentum.
It will speed up public investment disbursement, remove bottlenecks related to site clearance, planning and investment procedures, and accelerate strategic infrastructure projects, including ring roads, bridges, railways, social housing and rental housing.
The capital also pledged to improve the development quality in culture, social affairs, healthcare and education, placing people at the centre of development.
Chairman of the Ho Chi Minh City People’s Committee, Nguyen Van Duoc, reported that Vietnam’s largest economic hub recorded economic growth of 8.55% in the first half, the highest in a decade, contributing 24.5% of the country’s gross domestic product (GDP).
The result reflected the efforts made by the political system and business community despite numerous difficulties and challenges.
Public investment disbursement exceeded 51.6 trillion dong, equivalent to 35% of the annual plan during the first half.
Duoc attributed the sharp acceleration in June to stronger leadership and personnel restructuring, including the reassignment of 46 capable personnel from municipal departments, agencies and city-level bodies to commune-level administrations to support project implementation.
Although the southern metropolis’ growth remained below its 10% target and the disbursement rate also fell short of expectations, he said it remained determination to achieve double-digit growth and collect more than one quadrillion dong in state budget revenue this year.
Ho Chi Minh City will focus on pressing on with the implementation of the Party Central Committee’s directions, along with key resolutions of the Politburo and the National Assembly, mobilising more private investment, fully disbursing public investment capital and accelerating the approval of its master plan to facilitate new investment projects in the time to come.
Meanwhile, chairman of the People’s Committee of Ha Tinh, Phan Thien Dinh, said the central province achieved GRDP growth of 12.79% in the first half, driven mainly by manufacturing, steel production, energy and electric vehicle industries.
He added that the Vung Ang Economic Zone continued to serve as the province’s principal growth engine.
“Identifying public investment as a key and overarching political task, as well as a catalyst for mobilising social investment, Ha Tinh has established dedicated task forces led by the provincial vice-chairpersons to regularly oversee and accelerate public investment disbursement, while improving the efficiency of investment management and capital utilisation.”
So far, its public investment disbursement has reached nearly 56.9% of the annual plan.
“It also approved 32 new investment projects worth more than US$412mil, including four foreign investment projects, while speeding up the resolution of long-delayed projects to unlock development resources,” said Dinh.
In his speech, chairman of the People’s Committee of central Gia Lai province, Pham Anh Tuan, said the locality is accelerating implementation of 405 approved projects worth more than 350 trillion dong, and expanding large-scale raw material production areas to sustain growth of around 10% this year.
He also proposed central authorities allocate additional medium-term public investment and official development assistance funding for developing irrigation infrastructure in large material zones.
Permanent Deputy Prime Minister, Pham Gia Tuc, said Hanoi and Ho Chi Minh City together account for about one-third of Vietnam’s GDP.
He said that their commitment to achieving growth of more than 10% will play a decisive role in helping the country meet its double-digit growth target for 2026. — Viet Nam News/ANN
