While the Covid-19 fight remains a priority for Hanoi, the city would push for a gross regional domestic product (GRDP) growth of around 6.98% for the fourth quarter, and eventually 4.54% for the whole year.

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

Chairman of the Hanoi People’s Committee Chu Ngoc Anh stressed the view in a hearing held by the 16^th municipal People’s Council during its second session today [September 23].

According to the mayor, despite the serious Covid-19 situation, Hanoi’s GRDP growth in the second quarter was estimated at 6.61%, higher than the 5.17% growth attained in the previous one. This resulted in the economic growth of 5.91% for the six-month period, above the national average rate of 5.64%.

During the first eight months of 2021, state budget revenue stood at VND164.4 trillion ($7.2 billion), or 70% of the year’s estimate and up 10.3% year-on-year. Other key economic indicators included industrial production expansion by 6.3% year-on-year and exports of $9.7 billion, in which export turnover of phones and parts of  $235 million, up 67.8%.

Deputies of the municipal People's Council at the session.

Anh added the business environment has been improved with foreign direct investment (FDI) during the January-August period of $841.8 million, and total investment capital of VND164.4 trillion ($7.2 billion), an 8.4% increase.

For the third consecutive year, Hanoi continues to stay in the top ten most business-friendly localities nationwide and ranked 9^th out of 63 provinces/cities in the Provincial Competitiveness Index (PCI).

Anh said the city is determined to pursue the twin goal of both containing the pandemic and boosting economic recovery.

“Hanoi is committed to constantly improving the business/investment environment to attract investment capital into the city, along with faster disbursement of public funds and higher agricultural production,” Anh added.

Regarding the Covid-19 situation, Anh said the city has put the outbreak under control with around 420,000-550,000 vaccine doses administered per day. As of September 20, Hanoi has given jabs to over 6.3 million people aged 18 and above.

The city is scheduled to complete administering people with the second dose by November while looking for vaccine supplies for children, Anh noted.

Among solutions for long-term development, the city is expected to finalize the master plan for the 2021-2030 period, with a vision to 2050.

“The city is set to soon announce the action programs to realize the 5-year socio-economic plan or the mid-term public investment plan,” he said.