Hanoi economic growth hits a six-year peak

Despite failing to hit the yearly target of 8.5-9%, Hanoi’s economic growth in 2016 has hit its highest level in six years, reaching 8.03%, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said on December 5.

The service sector grew by 8.1% while industry-construction and agriculture witnessed increases of 8.8% and 2.21%, respectively.

The statistics were presented at the third session of the 15th Hanoi People’s Council from December 5-8. According to Toan, over the past year, an unprecedented number of new enterprises had been established.

Foreign-invested capital on projects reached US$2.8 billion, increasing 2.6 times compared to last year. Total social investment was estimated at VND277.95 trillion (US$12.3 million), a rise of 10% over the previous year.

The city has finished or nearly finished key transport projects such as Ring Road No.2 running through Nhat Tan-Cau Giay, Ring Road No.1 through O Dong Mac-Nguyen Khoai, the Long Bien district centre project and accelerated railway projects.

In the report reviewing socio-economic tasks in 2016, Deputy Chairman Toan said that the process had various weaknesses, including difficulties of business and production, leading to closure of firms.

Industry growth speed has been slowing down. Pressing issues include pollution at industrial parks and traditional craft villages, fires, explosions and traffic accidents.

The session approved a resolution on 2017 socio-economic development plan. Gross Regional Domestic Product (GRDP) is hoped to reach 8.5 to 9%. GRDP per capita is targeted at 86 million VND to 88 million VND (3,820-3,900 USD). Export-import turnover is aimed at 4 to 5%.

Health insurance coverage is hoped to reach 82.8%. The plan also expects all households in urban areas to have water for daily use.

To fulfill these targets, the meeting agreed on tasks, including improving the business and investment climate as well as provincial competitiveness index. To tackle pollution, by 2020, 117 industrial production bases in 12 districts will be moved out of the inner city, Phan Hong Son, Director of the municipal Justice Department said.

Politburo member Hoang Trung Hai, Secretary of the municipal Party Committee, said that “The year of administrative discipline” has been selected as the main topic of the city’s work next year. It aims to beef up administrative order and strengthen the role of public servants in office, residency and public areas and spread the spirit to citizens to tighten social discipline.

During the four-day gathering, the council will discuss and approve 15 important resolutions related to socio-economics, defence and security, the city’s State budget spending in 2017, key projects and middle term public investment next year.

VNA

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.