31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi to bank on Industry 4.0 for rapid and sustainable development: Mayor
The development of the knowledge economy, urban economy and innovative startups is priority of Hanoi, stated the city’s recently-elected mayor.

Hanoi would continue to revise the growth model and restructure the economy on the foundation of science, technology, innovation from the Industry 4.0 to ensure rapid and sustainable development, according to Chairman of the Hanoi People’s Committee Chu Ngoc Anh.

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

As part of these efforts, the city is set to promote the development of the knowledge economy, urban economy and innovative startups, Mr. Anh said at a conference discussing Hanoi’s socio-economic performance in the past four years on September 30.

Mr. Anh added the city aims to improve the business environment and put in place drastic measures to raise Hanoi’s rankings in major classifications, including the Provincial Governance and Public Administration Performance Index (PAPI), the Provincial Competitiveness Index (PCI) and the Public Administration Reform (PAR), among others.

In the coming time, the mayor expected Hanoi to better mobilize resources for infrastructure improvement and environmental protection for further development in the next period, especially in the city’s southern region towards a balance growth.

Mr. Anh also pointed to the necessity in improving efficiency in operation of state-owned enterprises (SOEs) and speed up the process of privatization, divestment of state capital in state firms.

More efficient policies are needed to support the private sector, including small and medium enterprises for socio-economic development, Mr. Anh stated.

In the 2016 – 2020 period, Hanoi’s gross regional domestic product (GRDP) expanded at an average of 7.39%, reaching the target of 7.3 – 7.8% and higher than the economic growth of 6.93% in the past five years.

Hanoi’s economic size in 2020 is set to reach VND1,060 trillion (US$45 billion), resulting in GRDP per capita of US$5,420, 1.8 times as high as the national average.

There have also been a significant improvement in productivity, which is estimated at an average of VND258.3 million (US$11,173), 1.65 times as high as the national average. This translated into a productivity growth of 6.15% in the 2016 – 2020 period, exceeding the target.

In the first nine months of 2020, Hanoi’s GRDP growth was reported at 3.27% year-on-year, 1.54 times as high as Vietnam’s (2.12%).

This year, the city targets its growth to range from 4.5% - 5% to ensure the economic expansion at 1.3-fold the national average.

RELATED NEWS
TAG: Hanoi Industry 4.0 sustainable development mayor Hanoi People\'s Committee Chu Ngoc Anh GRDP knowledge economy innovative startups Innovation
Other news
16:02, 2022/02/05
Hanoi People’s Council opens 7th session
The municipal People’s Council would spend most of the time discussing matters related to socio-economic performance during the first six months, and key tasks for the remainder of the year.
17:56, 2022/56/01
Hanoi eyes cooperation with UK to develop clean energy
Vietnam and the UK have achieved impressive cooperation results in the fields of politics, diplomacy, economy, culture, and tourism in recent years.
09:33, 2022/33/01
Folding bikes allowed on Hanoi's sky train
Folding bikes are compact and light and do not take up too much space.
20:41, 2022/41/30
Hanoi’s economy posts solid growth in first half of 2022
Hanoi's GRDP growth in the first half of this year shows the economic recovery with the development of many key industries.
17:21, 2022/21/28
Success of US$3.7-billion ring road project is Hanoi’s pride: City Party chief
The project with a five-year construction period would be seen as gauge of the city's leadership and credibility.
14:56, 2022/56/27
Hanoi to pilot real-time reporting system in Q3
The goal is to ensure a consistent reporting system from the grassroots to city-level agencies, which helps save time and cost for all parties involved.