31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi's economic growth on the rise
Ngoc Thuy 16:26, 2021/05/27
Positive economic results are thanks to the city’s strong pushes amid the Covid-19 pandemic.

Hanoi continues to show positive economic performance in May as the city remains steadfast on pursuing the twin targets of both containing the pandemic and boosting economic growth.

 Hanoi's Mayor Chu Ngoc Anh at the meeting. Photo: Kinhtedothi

Chairman of the Hanoi People’s Committee Chu Ngoc Anh gave the assessment in the city’s monthly meeting today [May 27].

In May, Hanoi’s index of industrial production rose by 1.8% against last month and 5.1% year-on-year, leading to an overall growth of nearly 10% year-on-year in the five-month period.

The manufacturing and processing sector, accounting for 96% of total production value in the industry sector, increased by 9.7% year-on-year, Ngoc Anh noted.

Director of the municipal Planning and Investment Department Do Anh Tuan said such results were thanks to the city’s strong push for ensuring smooth operation of economic activities despite the Covid-19 pandemic.

 Production at Garment 10 company. Photo: Cong Tho

Tuan informed the city’s export turnover stayed around the same level of April at US$1.25 billion, expanding 2.5% against last May, while imports rose by 4.7% month-on-month and a whopping of 26.2% year-on-year in the January-May period.

The city’s mayor also pointed out other positive economic indicators, including total revenue from retail sales and services of  VND243.8 trillion (US$10.53 billion) in Jan-May, up 11.2% year-on-year; foreign direct investment (FDI) attraction of over US$591 million; and budget revenue of VND110.6 trillion (US$4.78 billion), up 6.5% year-on-year.

In May, the city’s consumer price index (CPI), a gauge of inflation, rose by 1.8% against April and 0.43% year-on-year.

The CPI, however, declined by 0.5% in the first five months compared to the same period of last year and stayed under control, Tuan added.

This year, Hanoi sets a growth target of 7.5% from the estimated 3.94% in 2020.

TAG: Vietnam economic performance Covid-19 pandemic dual target Hanoi Chu Ngoc Anh
Other news
16:33, 2022/33/20
Vietnam National University moved to Hanoi's outskirt
The Vietnam National University's Hoa Lac campus is ready with all facilities and equipment for educational and research activities.
14:18, 2022/18/20
Hanoi earmarks US$1 billion for Ring road No.4 project
Total investment capital for Ring road No.4, slated for completion by 2027, is estimated at VND85.8 trillion (US$3.73 billion).
15:01, 2022/01/19
State and Hanoi leaders commemorate President Ho Chi Minh's birthday
President Ho Chi Minh devoted all his life to the struggle for national independence, freedom, and happiness of the people.