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Hanoi to set example in socio-economic development
Ngoc Mai 21:32, 2023/05/26
Hanoi's key economic drivers such as investment, exports and consumption should be the focus of further promotion.

Hanoi should remain an example for other cities/provinces in socio-economic development.

 Hanoi from above. Photo: Pham Hung/The Hanoi Times

The Government Office released the Prime Minister's conclusion on the direction of the capital's development.

The conclusion emphasizes Hanoi's crucial role as the national political-administrative center and an important hub for business, culture, education, science, technology, and international integration.

Despite the prevailing challenges faced by the entire country, the city has shown great determination and taken decisive action to successfully contain the Covid-19 pandemic, eventually moving from a state of lockdown and social distancing to a safe and flexible adaptation.

"This has enabled the recovery of socio-economic development and ensured social security," the announcement said, adding that the city has also accelerated restructuring efforts, revitalized growth models, and achieved comprehensive and positive results in various sectors.

In 2022, Hanoi's gross regional domestic product (GRDP) grew by 8.89%, while budget revenue exceeded nearly 20% of the year's estimate.

The city’s GRDP per capita in 2022 reached an average of nearly VND142 million (US$6,047), marking an increase of over VND18 million ($768) compared to 2020, reflecting an average annual growth rate of 7.07%.

Despite these achievements, Hanoi still has to deal with several shortcomings and challenges, including that economic development has not made a significant breakthrough, especially in achieving sustainable growth.

The city's growth rate has also lagged behind targets. Environmental pollution, traffic congestion, and overburdened urban infrastructure have not been addressed thoroughly.

Going forward, Hanoi must realize its potential in its overall development.

The Prime Minister urged Hanoi to continue to promote key drivers of the city's economy, such as investment, exports, and consumption.

Meanwhile, the city should focus on addressing market difficulties and weaknesses, especially in real estate, securities, and corporate bonds.

The Government encourages Hanoi to work on measures to support local businesses and people, including reducing fees, taxes, land rents, and interest rates and restructuring debt repayment terms.

At the same time, Hanoi must improve the efficiency of the management and utilization of public investment capital and accelerate the disbursement of funds for socio-economic recovery and development programs.

The aim is to help Hanoi achieve the goals and tasks set for 2023 and lay a solid foundation for the years to come.

It is essential to effectively mobilize all available resources, strengthen public-private partnerships, prioritize administrative reform, and streamline procedures.

This should be accompanied by efforts to enhance enforcement capacity at all levels while strengthening inspection, supervision, and control mechanisms.

The Prime Minister stressed the need for Hanoi to build a cohesive, unified, action-oriented, and efficient administrative system that prioritizes serving the people and businesses.

In the immediate future, Hanoi should focus on finalizing the draft amendment to the Capital Law and key master plans for Hanoi, including capital planning for 2021-2030 and adjusting Hanoi's construction master plan to 2045.

These plans should be developed with innovative, breakthrough, strategic, and long-term perspectives, taking advantage of Hanoi's diverse potential, outstanding opportunities, and competitive advantages.

In parallel with socio-economic development, Hanoi must emphasize preserving and promoting traditional cultural values rooted in its millennia-old civilization and prioritize environmental protection.

The city should also improve the effectiveness of foreign affairs, deepen substantive international integration, and focus on preventing and controlling epidemics while protecting people's health.

TAG: Hanoi news Vietnam news socio-economic development hanoi hanoi planning
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