Hanoi has concurrently carried out many urban development projects, including the planning for the 2021-2030 period with a vision to 2050, an overall adjustment for the Hanoi construction master plan until 2030 with a vision to 2050, and the drafting of an urban development program.

Trang Tien Plaza trade center, right in the heart of the capital city attracts many domestic and foreign tourists. Photo: Hung Khanh

The urban areas' economic structure will develop in a modern direction, with many green economic sectors and a digital economy.

Moreover, Government Resolution 15-NQ/TW issued in May 2022 sets the direction and tasks for Hanoi's development until 2030, with a vision to 2045. It also sets out many high development targets for the city, including its economic growth and people's income, to make it a traditional, civilized, and modern cultural capital.

Hanoi's general construction plan, approved in 2011, states that the city will be developed according to an urban cluster model, including a core metropolitan area, five satellite towns, and an eco-town system. In addition, Resolution 15-NQ/TW also guides the development of new urban models, such as cities within the capital city and cities following the TOD (Transit-oriented development) model along major traffic routes. Based on these orientations, it is possible to propose regional urban economic development.

Specifically, Hanoi will continue developing its historic inner area under the green, beautiful, civilized principle. The whole area needs to be renovated and embellished for the urban economy can be tapped most effectively, turning the entire historic inner city into a walking space. There would be a "sidewalk" and household economy along the industrial and modern economy instead of just a few walking streets like now. Priority should be given to developing trade-service industries, focusing on financial banking and luring multinational economic organizations to set up headquarters. At the same time, it should build commerce and tourism by taking full advantage of the thousand-year-old civilization and culture of the 36 streets- quarter. In particular, the night economic development model, focused mainly on food and commodities, should be targeted.

New urban development areas will be built toward green, smart and modern, following the model of cities within the capital city and specialized urban areas (industrial, educational and ecological urban centers). In addition, new urban centers should be considered following the TOD model along major traffic axes (Ring 4 and Ring 5) and functional areas (airports, universities, industrial areas).

Regarding the direction of urban economic development, the capital will have more commercial and service space in its newly urbanized areas. In its areas developed following the model of cities within the capital (Dong Anh, Me Linh, Soc Son, Hoa Lac and Xuan Mai), priority will be given to the formation of wholesale centers, outlet shopping areas (including stores specializing in consumption of outdated or discounted products) for tourists, regional trade centers, logistics service zones and centralized warehouses... that are attached to the airport system.

The areas for smart urban development on both sides of the Nhat Tan - Noi Bai axis should be reserved for building regional trade centers, trade representative offices, logistics service areas, and concentrated warehouses. In residential areas on both sides of the Red River and Duong River, shopping centers and concentrated warehouses will be built, while areas along Ring Road 4 are planned for commercial centers, supermarkets, convenience stores, and local markets following the TOD model.

Planning orientation for important urban economic sectors

For Hanoi to remain a leading economic center in the North, it is necessary to focus on planning and developing trade and services, building and renovating urban markets to ensure the city's aesthetics, and making it a cultural destination to promote tourism development. Developing high-end commercial centers should be vigorously promoted to form regional multi-functional shopping and entertainment centers. Land funds should be planned for building large wholesale centers, capitalizing on the role of a hub for distributing goods in the northern region. Land must also be set aside for education, science, technology, high-tech healthcare, and sports, among others, with leading quality and scale on par with the standards of the national region.

In addition, the city should set planning for high-quality tourism development as an objective, making the most of unique cultural and historical values to build high-quality tourism areas and attractions, such as the political center of Ba Dinh in association with the world heritage site of Thang Long Imperial Citadel, the Van Mieu - Quoc Tu Giam relic side, the old town and cities, Hoan Kiem Lake, West Lake, and its surroundings. 

Investments should be prioritized for developing Thang Long Imperial Citadel into a national historical and cultural park. The capital should also focus on planning for 4-5 star luxury tourist accommodations in districts such as Cau Giay, Tay Ho, Long Bien, and Nam Tu Liem associated with the development of MICE tourism.

The development of financial, banking, and insurance transaction network along the main thoroughfares should be the focus in Hoan Kiem District, Hai Ba Trung District, along Vo Nguyen Giap and Vo Chi Cong highway (Nhat Tan - Noi Bai axis). Land should be reserved in Hanoi downtown to attract the world's leading banking institutions. The capital city must pay attention to planning for industrial-high-tech constructions in new urban areas, and develop urban agriculture in areas that are about to be transformed from rural districts to urban districts. It must ensure harmony between nature and people and meet urban residents' demands for clean food.

Regarding land planning for urban economic development, Hanoi needs to requisition the land allocated to delayed projects, ensuring effective use of the urban land fund. The city should promote the relocation of polluting establishments to suburban areas and reserve vacated land for building financial centers to attract the world's leading financial institutions. In addition, it should build department stores in the area planned for urban underground construction spaces.