Capital calls on enterprises to lead innovation push for double-digit growth
Hanoi leaders are urging enterprises to accelerate innovation, digital transformation, and green growth as the capital targets GRDP growth of at least 11% in 2026, laying the foundation for sustained double-digit expansion through 2030.
THE HANOI TIMES — Hanoi’s business community is being urged to play a more decisive role in shaping both the capital’s future and the national economy, as Chairman of the Hanoi People’s Committee Vu Dai Thang calls for faster transformation and stronger innovation among local enterprises.
Speaking at a meeting with outstanding enterprises in Hanoi on January 15, Thang urged firms to invest boldly in high technology, comprehensive digitalization and sustainable business models.
Hanoi's outstanding enterprises at the meeting with Chairman of the Hanoi People’s Committee Vu Dai Thang in Hanoi. Photos: hanoi.gov.vn
He stressed the need to expand green and circular economy practices while boosting total factor productivity, which the city expects to account for about 60% of growth in the coming period.
Under Hanoi’s roadmap, the digital economy aims to contribute 35% of GRDP by 2026 and 40% by 2030. Cultural and creative industries also target rapid expansion, accounting for 6% of GRDP by 2026 and 8% by 2030.
At the same time, enterprises are encouraged to scale up operations, integrate more deeply into global supply chains under environmental, social and governance (ESG) standards and strengthen innovation-driven startups to create thousands of high-quality jobs and raise incomes.
“These efforts are essential for businesses and decisive for Hanoi’s ambition to achieve double-digit growth from 2026 onward,” Thang said.
He added that such progress would help lift the capital’s economic scale to about US$113 billion by 2030, with GRDP per capita reaching $12,000.
He described 2026 as a pivotal year, marking the start of implementing the 18th Hanoi Party Congress Resolution for the 2025-2030 term and coinciding with the 14th National Party Congress.
For 2026, Hanoi targets GRDP growth of at least 11%, creating a firm base for sustained double-digit expansion through 2030.
City projections show GRDP reaching about $70.7 billion in 2026, with per capita GRDP at $7,900. Total social investment is expected to reach VND730 trillion ($27.8 billion).
While ambitious, these goals remain achievable with decisive action and effective execution, Thang said.
To support enterprises, the city government has pledged deeper administrative reform, including cutting at least 30% of procedures and shortening processing times.
Hanoi is also working to improve transparency, expand access to preferential credit and ensure the availability of cleared land for strategic projects.
The city will promote technology transfer through public-private partnerships, help small and medium-sized enterprises and supporting industries join regional and global supply chains and support market expansion through trade fairs and business-matching forums.
Chairman of the Hanoi People’s Committee Vu Dai Thang.
“We are committed to removing bottlenecks, sharing risks and protecting legitimate business rights,” Thang said.
Enterprises will stand at the center of public service delivery through concrete actions.”
Nguyen Thi Nga, Chairwoman of BRG Group and Standing Vice Chairwoman of the Vietnam Private Business Association, said Hanoi’s reforms are shaping a development model defined by speed, quality, intelligence and sustainability.
She highlighted “green lanes” and paperless, contact-free procedures that have cut processing times by 30% to 60%, helping businesses save resources and act faster.
Le Duc Thuan, Chairman of Bao Ngoc Manufacturing and Investment Joint Stock Company, said small and medium-sized firms have ideas but need a fair, transparent and open business environment to invest with confidence and compete internationally.
According to Vice Chairman of the Hanoi People’s Committee Nguyen Xuan Luu, 2025 marked a key milestone for the capital.
Hanoi streamlined its administrative apparatus, implemented major policy frameworks and reinforced its role as the country’s political and administrative center.
The city recorded GRDP growth of 8.16% in 2025, exceeding the target and well above the previous year. Its economic scale reached $63.5 billion, while state budget revenue surpassed VND711 trillion ($27 billion), the highest on record.
More than 424,000 enterprises now operate in Hanoi, with strong growth in new registrations and total capital, reflecting the private sector’s central role in innovation and expansion.
