31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi Party chief urges more urgency for speedy economic recovery
Hai Yen - Tran Long 13:27, 2020/05/06
This difficult period is an opportunity for the city to streamline the organization and lay off irresponsible staff, said Secretary of the Hanoi Party Committee Vuong Dinh Hue.

Without a greater spirit of urgency of the entire political system in boosting economic recovery, Hanoi would face the risk of failing to realize the economic growth targets for this year, according to Secretary of the Hanoi Party Committee Vuong Dinh Hue.

 Secretary of Hanoi Party Committee Vuong Dinh Hue at the meeting. Photo: Thanh Hai. 

The Covid-19 pandemic has negatively impacted Hanoi’s economic performance in the first four months of 2020, including a disbursement rate of public investment at only 18 – 19% of the year’s target, Hue said at a meeting with local authorities in the outlying district of Dan Phuong on May 5.

This is despite the fact that Hanoi has prioritized public investment as key economic solution to help the city achieve its economic target.

According to Hue, Hanoi’s suburban districts must take a more active role in supporting economic growth, given their high potential for agricultural production and land auctions.

As Hanoi has gradually contained the Covid-19 pandemic, the city is now focusing on boosting economic growth, Hue stressed, adding there are clear responsibilities for each department and unit.

Hue said this difficult period is also an opportunity for the city to streamline the organization and lay off irresponsible staff.

Regarding Dan Phuong district, Hue requested the locality to address issues related to public investment and create favorable conditions for the development of the private sector; develop craft villages and new industrial clusters; encourage business households to formalize into enterprises.

A report from Hanoi’s Department of Planning and Investment showed that the city’s public disbursement target remains unchanged at VND37 trillion (US$1.56 billion) in spite of potential losses to state budget revenue on the Covid-19 pandemic.

For this year, Hanoi targets an economic growth rate 1.3 times higher than the national average.

The city has set up three growth scenarios, with the most optimistic one envisioning a 7.5% economic growth rate.

TAG: Hanoi Vietnam covid-19 coronavirus nCoV pandemic economic recovery Public investment disbursement Vuong Dinh Hue party chief
Other news
17:08, 2022/08/17
Hanoi supports 20 locations in promoting sales of OCOP products
A trade fair promoting agricultural products under the One Commune, One Product (OCOP) program and regional specialties will run until August 20 in Hanoi.
17:07, 2022/07/17
Hanoi targets 9% increase in tax revenue by 2023
Hanoi expects positive economic performance in 2023 would result in the higher budget collection.
10:27, 2022/27/17
Urban planning plays a key role in sustaining prosperity in Hanoi: Experts
The goal is to ensure the effective use of different resources to serve the capital city’s development goals for the 2021-2030 period and subsequent years.
21:02, 2022/02/16
Cultural industry designed as spearhead economic sector of Hanoi
All 30 districts citywide can develop cultural industry, making it a spearhead economic sector by 2030.
18:09, 2022/09/16
Hanoi bolsters cooperation with Singapore in urban development
Mayor of Hanoi Tran Sy Thanh has called for Singapore to further support the capital city in drafting urban planning for the next decade.
17:33, 2022/33/16
President Ho Chi Minh Mausoleum reopens
A trip to Ho Chi Minh Mausoleum can be an extraordinary experience for any visitor.