At present, Hanoi gives utmost priority to containing the Covid-19 pandemic while continuing strong efforts in improving the business environment and addressing businesses’ concerns.

The plans, estimated at VND402 billion (US$17.3 million), would give priority to supporting innovative and digital enterprises.

Hanoi eyes 10% annual growth of business creation, or 30,000 per year, while the SMEs would create 150,000 new jobs annually during the next five years.

Industry and trade are two major pillars for the development of Vietnam’s economy in general, and that of Hanoi in particular, stated Hanoi’s Party chief Vuong Dinh Hue.

The complicated progression of Covid-19 in Danang has dealt a blow to the city’s efforts to grow its economy this year and may drag Vietnam's economic recovery.

The city expects to promote the Hanoi brand as an attractive tourism destination the region and the world, and advertise the city’s image at major markets.

In the final six months of the year, Hanoi would continue to boost administrative reforms in state budget collection and address concerns of the business community, said a Hanoi leader.

Low economic growth, high unemployment rate and low disbursement rate of public investment are among shortcomings that Hanoi should address in the coming time, said Hanoi's Party chief.

While Hanoi’s agricultural sector is the least affected by Covid-19, a growth rate of 3.5% of the city’s Index of Industrial Production in the first half of 2020 is the second highest nationwide.