WORDS ON THE STREET 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 / Economy / Trade - Service
Hanoi aims 2020 GRDP growth of at least 7.5%
Ngoc Thuy 15:23, 2019/12/04
This would result in income per capita of VND136 million (US$5,871), significantly higher than Vietnam’s GDP per capita of US$3,000 in 2016 – 2020 and an estimated US$4,688 in 2021 – 2025.

On the back of the estimated GRDP growth rate of 7.46% in 2019, a four-year high, Hanoi targets the GRDP in 2020 to grow at least 7.5% onwards, according to Nguyen The Hung, vice chairman of the Hanoi People’s Committee.

 Infographic: Ngoc Thuy

This would result 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.

In 2019, Hanoi is on track to achieve strong results in all aspects of socio-economic development, Hung said at a meeting today [December 4].

In addition to high GRDP growth rate, Hanoi is projected to have export growth rate of 25.8% year-on-year in 2019 to US$17.5 billion, higher than the growth rate of 18.83% recorded in 2018.

Notably, the city’s business environment is improving consistently, with the city’s provincial competitiveness index (CPI) ranking in 2018 reaching the all-time high of 9th out of 63 provinces and cities. The result exceeded the original target of entering the top 10 PCI index ranking by 2020 set by the municipal People’s Council.

Hanoi is projected to maintain its top spot in terms of foreign direct investment (FDI) attraction nationwide for the second consecutive year in 2019, recording a 30-year high of US$8.05 billion.

In 2019, Hanoi expects to have seven out of 22 socio-economic development indicators exceed the targets, including the GRDP growth rate, total investment, exports, voluntary social insurance coverage, poverty reduction, unemployment rate in urban areas, and clean water coverage in rural areas

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.

RELATED NEWS
TAG: Hanoi GRDP 2019 2020 GDP per capita exports investment FDI PCI
Other news
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.