Hanoi should continue to lead the country’s economic recovery efforts to ensure an economic growth rate that is 1.3 – 1.4 times as high as the national average, Prime Minister Nguyen Xuan Phuc has said.

Prime Minister Nguyen Xuan Phuc. Photo: Thanh Hai.

In the past five years, Hanoi has continued to be Vietnam’s political, culture, science, education and economic hub, stated Mr. Phuc at the capital city’s Patriotic Emulation Congress for the 2020 – 2025 period.

Mr. Phuc, who is also Chairman of the Central Council for Emulation and Commendation, expected Hanoi to continue improving its emulation and commendation activities.

At the meeting, Chairman of the Hanoi People’s Committee Chu Ngoc Anh said emulation activities are key to help keep a strong and healthy political system.

Chairman of the Hanoi People's Committee Chu Ngoc Anh. Photo: Thanh Hai.

Mr. Anh called on local authorities and the people to actively participate in the city’s patriotic emulation movements, thus contributing to the city’s efforts to realize its political tasks in the 2020 – 2025 period.

Hanoi’s gross regional domestic product (GRDP) is estimated to have expanded 3.27% year-on-year in the first nine months of 2020, 1.54 times as high as Vietnam's (2.12%).

In the 2016 – 2020 period, Hanoi’s gross regional domestic product (GRDP) expanded by an average of 7.39%, reaching the target of 7.3 – 7.8% and higher than the economic growth of 6.93% in the previous five years.

Hanoi’s economic size in 2020 is set to reach VND1,060 trillion (US$45 billion), resulting in GRDP per capita of US$5,420, 1.8 times as high as the national average.

For this year, the city targets an economic growth in range of 4.5% - 5% to ensure the economic expansion 1.3 times the national average.