Hanoi, in 2023, will kick start the construction of 34 new industrial parks whose plans were approved in 2018-2020 as part of efforts to make the city a manufacturing hub in the region. 

To make the goal possible, the city will enhance the efficiency of 70 existing ones.

Accordingly, the development of industrial parks, power plants, and logistic hubs will be included in the city's master plan to have a proper policy for all, according to the municipal Department of Industry and Trade.

Products made for export at Son Tay Garment JSC in Hanoi. Photo: Hoai Nam/The Hanoi Times

In this regard, the local authorities will facilitate the growth of key and ancillary industries, assisting local companies' operations and attracting large-cap investors to major industrial projects.

Meanwhile, the city will speed up infrastructure and ensure sufficient power supply in industrial parks.

In addition, relevant agencies will boost trade promotion and take advantage of existing free trade agreements while exploring additional markets for highly competitive products, particularly those that account for a large proportion of Hanoi's total exports.

In 2023, the Hanoi Department of Industry and Trade will help local enterprises increase their exports and strengthen their presence in the domestic market.

It will also undertake measures to stabilize market prices and supplies, control the quality of products and services, and promote e-commerce platforms to meet consumer demand during the Lunar New Year or Tet. 

In 2022, the department took several measures to help local businesses recover in the post-pandemic phase. Specifically, the city launched 45 trade promotion programs, opened 20 new OCOP (One Commune - One Product) retail stores to bring the total number to 60, and organized nationwide and citywide promotional programs.

These activities contributed to an 8.89% increase in the gross regional domestic product (GRDP) in 2022. Of the figure, industrial added values rose 8.03%, beating the expected growth of 7.3%-7.8% for 2022 and accounted for 1.14 percentage points in the city’s GRDP growth.

Total retail of goods and services in 2022 is estimated at VND697.7 trillion ($29.7 billion), a quarter higher than the previous year and exceeding the plan by 9-10%.