Companies showcase digital products at the Link to Grow program, which connects businesses in Hanoi with those in provinces in the Red River Delta region. Photo: Hoai Nam

Hanoi attracted $1.6 billion in FDI in the first 10 months of 2024, with total retail sales of goods and consumer services reaching VND699.2 trillion ($2.7 billion), up 10.7% year-on-year. Alongside this growth, Hanoi is advancing digital transformation as a key driver of sustainable development, especially in the digital and green economy, according to the Hanoi Statistics Department.

Nguyen Anh Duong, Director of the Hanoi Promotion Agency (HPA), said that Hanoi's Plan No. 184 is to boost digital growth, with the target of creating 10,000 digital enterprises and producing 10 key digital goods by 2025. The city also aims to support 10 digital startups contributing to the city's digital government, economy, and society.

"This plan is fundamental to Hanoi's development, helping the city achieve its socio-economic goals while leading the way in information technology and digital transformation," Duong said.

However, the experts point to challenges such as outdated digital infrastructure and a lack of skilled labor. Nguyen Hoai Son, Head of Science and Technology and Development Cooperation at the University of Technology, Vietnam National University, said that digital transformation can improve efficiency, but requires significant investment and cybersecurity. He noted that funding remains an obstacle, as educational institutions often have insufficient resources to upgrade technology and secure data.

Cao Cam Linh, Director of Strategy at Viettel Logistics, noted that businesses also face security concerns and a deficit of tech-savvy workers. Small and micro businesses often have few resources and trained personnel for digital transformation, as Nguyen Van Tai, director of VietSense Tourism, observed. "To support these businesses, the government should simplify project approvals and provide tax incentives, while strengthening cybersecurity infrastructure," Tai suggested.

Le Tu Luc, Deputy Director of the HPA, said Hanoi's commitment to supporting business growth through credit, tax, and investment incentives. "These efforts will create an environment for enterprises to access digital transformation and pursue sustainable growth," he said.