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 ranked second nationwide in number of enterprises
Ngoc Thuy - Tram Anh 11:09, 2019/12/10
The ratio of enterprises to population in Hanoi stood at 1:38, nearly four times the national average at 1:144.

Over the past years, Hanoi has been implementing measures and policies to support the development of the business community and reform administrative procedures, making the capital second nationwide in terms of the number of enterprises with 280,000 to date, according to the municipal Planning and Investment Department.


As of the end of November, the number of newly established enterprises in Hanoi reached 25,214 with registered capital of VND345.92 trillion (US$14.92 billion), up 8.2% in quantity and 38.5% in value year-on-year.

Statistics from the department revealed the number of newly establishments have been increasing annually, in which small and medium enterprises account for 97% of the total.

The ratio of enterprises to population in Hanoi stood at 1:38, nearly four times the national average at 1:144.

The result was thanks to strong efforts of local authorities in applying technologies in the administrative process, in turn saving time and costs for enterprises.

For example, Hanoi continues to maintain its top ranking among Vietnam’s 63 provinces/cities in online business registration as 100% of applications are submitted online, 98.4% of tax declarations, 100% of e-customs procedures, 97.6% of e-tax payments are performed online, while the city has streamlined over 430 administrative procedures.

Additionally, Hanoi also provides free consultations for enterprises during the process of business registration and human resources training, including training courses for CEO; business administration program; startup assistance with annual financial aid of VND21 billion (US$906,000); market study; legal advices, among others.

The department said Hanoi has issued a proposal supporting innovation startups in the capital until 2025, with vision to 2045, targeting to turn Hanoi into one of Vietnam’s innovation and startup hubs.

Private sector remains driving force for growth

As the final year of the 5-year socio-economic plan 2016 – 2020 is approaching, the private sector has been a spotlight during the process of Vietnam’s integration into global economy.

In Hanoi, enterprises are proving to be the pioneers in applying new business models for breakthroughs in development and playing a significant role in Hanoi’s socio-economic development.

Total investment capital in the 2016 – 2018 period was estimated at VND927.88 trillion (US$40.03 billion), equivalent to 36.4% of the GRDP. A report from the Hanoi People’s Committee suggested a major proportion of the investment capital has shifted from the state sector to private players, helping Hanoi achieve a 4-year high GRDP growth rate of 7.46% in 2019.

For 2020, Hanoi targets the GRDP in 2020 to grow at least 7.5%, resulting in income per capita of VND136 million (US$5,871), significantly higher than Vietnam’s GDP per capita of US$3,000 in the 2016 – 2020 period and an estimated US$4,688 in 2021 – 2025.

Such high growth rates in 2019 and 2020 would help Hanoi achieve an average annual GRDP growth rate of 7.33% - 7.41% in the 2016 – 2020 period, which is in line with the city’s five-year socio-economic development plan.

TAG: Hanoi GRDP private sector newly establishments enterprises growth
Other news
18:06, 2024/04/15
Hanoi pushes ahead with major administrative reform
Hanoi prioritizes developing e-government and digital governance as a key task in administrative reform.
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.