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Hanoi determined to realize GRDP growth target of 7% this year
Nguyen Tung 15:04, 2023/07/04
This goal poses significant challenges and requires the determination and active participation of the entire local apparatus.

The Hanoi People’s Council today [July 4] ratified a resolution on objectives for socio-economic development in the second half of 2023, including a focus on realizing the GRDP growth target of 7%.

 Deputies ratify the resolution. Photos: Pham Hung/The Hanoi Times

Emphasizing the importance of achieving a 7% growth target for 2023, the resolution calls for decisive actions at all levels and sectors to strengthen and stimulate growth drivers while implementing the tasks and solutions outlined at the beginning of the year.

It acknowledges several notable achievements in the socio-economic development of the capital in recent times. These include ensuring a balanced budget with an increase in State budget revenues, which experienced a significant rise of 25.1% in the first five months of the year, reaching 58.7% of the estimated target.

In addition, Hanoi’s GRDP growth rate has been maintained at 5.97%. The city has successfully attracted social investment with an expansion rate of 9%, exceeding the growth rate of the same period (8.8%), and foreign direct investment inflows have surpassed the results of the entire year of 2022, making it the leading destination in the country.

The tourism sector experienced a strong recovery, with a sevenfold increase in international tourists and a 22.6% increase in domestic tourists over the same period.

Hanoi also accelerated its planning efforts, approving several key plans. Significant progress was made in constructing socio-economic infrastructure, particularly clearing land for the Ring Road No.4 project.

Efforts to upgrade public schools to national standards, improve the healthcare system, and restore and beautify historical landmarks have actively been pursued and prioritized.

 Deputies during the session. 

However, the resolution also noted the complex and unpredictable global situation. The domestic economy faces numerous challenges as it grapples with the long-standing "double whammy" of negative external factors and internal constraints.

The capital city's economy has been significantly affected, especially with the decline in the export market and the hardships challenging enterprises. In addition, the purchasing power of the domestic market and the overall production and business activities have shown signs of slowing down, posing obstacles to achieving socioeconomic goals and expenditures in 2023.

To realize the ambitious growth target of 7% in 2023, the resolutions emphasized the need to achieve economic growth of 7.54% or higher in the third quarter, followed by a growth rate of 8.23% or more in the last quarter.

"These targets represent significant challenges that require the continued implementation of the tasks and solutions outlined at the beginning of the year by all levels and sectors," the resolution stated.

Based on the above considerations, the Hanoi People's Council has resolved to prioritize the implementation of several key initiatives:

Ensure stable economic growth and control inflation: Consistent focus will be placed on maintaining the overall balance of the economy. Efforts will be made to effectively implement the socio-economic recovery and development program by ensuring sufficient capital for the economy, liquidity in the system, balanced budget revenues and expenditures, and a balance between supply and demand, especially for essential products and petroleum. The growth drivers of exports, consumption, and investment will be consolidated and maximized.

Accelerate project implementation and disbursement of public investments: Special attention will be paid to accelerating key projects such as the Ring Road No.4 project and investments in education, health and heritage restoration. Emphasis will be placed on site clearance work, holding responsible parties accountable, and using disbursement results as a criterion for evaluating performance in 2023.

Development of cultural and social sectors: Effective implementation of the Cultural Industries Development Plan and investment plans in education, health, and disease control will be prioritized. Measures will be taken to ensure social security and fully carry out the policy for those with meritorious service to the revolution and social assistance.

Strengthen planning and improve the efficiency of government administration: Efforts will be made to speed up the renovation of old apartment buildings and to review, amend and supplement regulations on land requisition, allocation, leasing, and change of land use. Emphasis will be placed on issuing land use right certificates and conducting land use right auctions in the city. 

Strengthen discipline, administrative reform and anti-corruption: It highlights administrative reform and preventing and combating corruption, negativity, and waste. The city would finalize the proposal for amendments to the Capital Law and submit it soon to the National Assembly for approval.

Efforts will continue to effectively implement financial-budgetary mechanisms and policies, as well as the pilot project of the Hanoi city government model. Administrative reform will be carried out in conjunction with digital transformation, focusing on improving the quality of online public services. Decentralization and empowerment in various sectors will be reviewed and strengthened.

Ensure national defense, security, and safety: The safety of political, cultural, and sports events will be guaranteed, and the close integration of national defense and security with socio-economic development will be emphasized. Projects such as the national population database, citizen identification, and electronic identification will be accelerated. Special plans will be implemented to prevent and combat organized crime, transnational crime, usury, online fraud, illegal racing and robbery, ensure network security and protect state secrets, especially in the digital environment. Traffic safety, fire prevention and explosion prevention will also be prioritized.

Improve the efficiency of foreign affairs: International cooperation in science, technology, investment, and trade promotion will be emphasized. Hanoi will actively engage with cities and international organizations and participate in networks of green, adaptive, identity, sustainable and smart cities regionally and globally.

Strengthen information, communication and mass mobilization: Efforts will be made to prevent the spread of false, harmful, and distorted information, especially in cyberspace. Mass mobilization will be carried out effectively with the engagement of different stakeholders.

TAG: Hanoi news Vietnam news Hanoi GRDP hanoi socio-economic development Hanoi development
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