The Hanoi People’s Council today (July 2) approved a plan to speed up the socio-economic development and ensure social security and defense in the capital for the second half of 2024.

Hanoi lawmakers and deputies press the button to approve the socio-economic plan for H2/2024. Photo: Thanh Hai/The Hanoi Times

According to the People's Council, although there are challenges to be resolved in July-December, the authorities, enterprises and people are determined to achieve the goals set for the year.

Under the plan, the city will stabilize the capital's economy, control inflation, promote new sources of growth, carry out effective economic restructuring, and improve the productivity, quality, efficiency, and competitiveness of the local economy.

Measures will be taken to accelerate infrastructure and construction projects and to improve government management of urban planning, land use and the environment.

Emphasis will be placed on culture, society, education and training, and the development of a high-quality workforce to serve innovation and R&D activities.

City authorities will continue to reform the administrative and organizational structure and expand efforts to combat corruption and bribery.

Hanoi will seek more international partnerships, ensure social security, and force local landlords to improve fire and emergency standards.

The capital will prepare well for the 18th Municipal Party Congress for the 2025-2030 period. City's authorities will also work out the financial plans for the 2025-2027 and 2026-2030 periods, draw up the public investment fund for 2025, and amend the public investment plan for 2021-2025.

At the session, the deputies of the capital also approved the solutions for the state budget revenues and expenditures for the second half of 2024.  

Budget allocation for districts

The Hanoi People's Council also approved an allocation of VND2.1 trillion (US$82.5 million) for Hoang Mai and Gia Lam districts for procurement and construction in 2024.

Accordingly, Hoang Mai District will receive VND1.6 trillion (nearly $63 million) and Gia Lam District will receive VND500 billion (more than $19 million).

They also accepted the proposal of the Hanoi People's Committee to allow the Thang Long-Hanoi Heritage Conservation Center to pay UNESCO experts the remunerations stipulated in the contract with the International Council on Monuments and Sites (ICOMOS) for the preparation of a dossier on the heritage vision of the Thang Long Imperial Citadel in November 2024.

Hanoi will also organize training courses in 2024-2025 for local officials of Laos' capital, Vientiane, and for officials and teachers of vocational centers in Vientiane.

In addition, the Municipal People's Committee and its agencies were given the green light to develop a public bus fleet using electricity and green energy. The People's Committee asked the city government to develop a framework to encourage private investment in public transportation and to develop clean and environmentally friendly vehicles.

From January to June, Hanoi's industrial production index increased by 5%, with the processing and manufacturing industry up 4.1% and the product consumption index up 13.1%.

Another highlight is the over $1.1 billion of foreign investment in the city, including more than $1 billion in 120 newly registered projects, $55 million of capital increase in 78 projects, and $74 million of capital contribution and share purchase by 104 foreign investors.

Exports are back on track and have grown significantly, with an export turnover of $8.9 billion, up 11% from the same period in 2023. Of this, the domestic economic sector exported $5.2 billion worth of goods, up 14.8%, while the foreign-invested sector recorded an export turnover of $3.7 billion, up 6.1%.