70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi continues to focus on economic recovery efforts
The city would speed up the public investment progress to ensure the disbursement of 100% of the target amount for this year.

In the remaining months of the year, Hanoi would continue to focus on rebooting economic growth and addressing concerns of the business community, according to the municipal People’s Committee.

 Overview of the conference. 

Additionally, the city would speed up the public investment progress to ensure the disbursement of 100% of the target amount for this year.

At a meeting on September 1, Director of Hanoi’s Department of Planning and Investment Nguyen Manh Quyen said in August, the majority of economic indicators improved against the previous month amid the Covid-19 pandemic.

Among them, the city Index of Industrial Production (IIP) expanded 3.4% month-on-month and 4.1% year-on-year in the January – August period; revenue of retail sales of consumer goods and services in Hanoi was estimated at VND261.9 trillion (US$11.35 billion) in August, up 1.37% month-on-month and VND1,920 trillion (US$83.18 billion) in the 8-month period, up 7.4% year-on-year.

 Director of Hanoi's Department of Planning and Investment Nguyen Manh Quyen (standing). 

Meanwhile, the number of tourists coming to Hanoi in August plunged 70.3% month-on-month to 310,000, accumulating a total of 6.29 million in January – August, down 67.3% year-on-year.

The city's state budget revenue as of August was estimated at nearly VND180 trillion (US$7.8 billion), equivalent to 64.3% of the estimate and up 1.6% year-on-year.

As of the end of August, over 17,800 new businesses were established in Hanoi with registered capital of VND241.7 trillion (US$10.47 billion), down 3% in term of number of enterprises but up 1% in value, year-on-year.

To date, Hanoi is home to over 295,800 operational enterprises.

Based on preliminary data from the first half of 2020, Hanoi’s authorities have devised two growth scenarios for the rest of the year.

In the first scenario and also the most optimistic one, Hanoi could achieve a growth rate of 5.9% in 2020, 1.3 times the nation’s optimistic growth scenario of between 4.4 and 5.2%, if growth rates in the third and fourth quarters reach 7.8% and 8.4%.

In a second scenario, Hanoi’s GRDP would expand 5.4%, 1.3 times the nation’s neutral growth scenario of 3.6 – 4.4%, if the city’s economy expands 6.9% and 7.4% in the third and fourth quarters, respectively.

TAG: Hanoi economic recovery covid-19 coronavirus nCoV pandemic Public investment disbursement industrial production
Other news
22:25, 2024/04/13
Hanoi agricultural and handicraft product week attracts locals and foreigners
The products on display are regional specialties and OCOP (One Commune One Product) farm produce made by cooperatives in Hanoi and other provinces and cities.
22:19, 2024/04/13
Hanoi sees alternative to private vehicles in metro lines
The capital plans to build 14 metro lines totaling 610km by 2065.
17:59, 2024/04/10
Hanoi’s planning expected to revive culturally rich millennial capital
The goal is to make Hanoi a city of "culture, civilization, and modernity", where the cultural essence of both the nation and the world converge.
22:34, 2024/04/09
Hanoi contest seeks initiatives for administrative reform
The awards will be presented by October 10, 2024.
21:13, 2024/04/09
Hanoi to tackle obesity in primary schools
Students living in urban areas are more likely to be obese than those who live in rural areas.
17:57, 2024/04/08
250 publishing brands gather at Hanoi Book Fair
The ninth Hanoi Book Fair will be held in September under the theme "Hanoi: Capital of Culture and Heroes - City for Peace".