Hanoi aims to register 30,000 new businesses this year
It is a target of the city's economic agenda, which includes a set growth rate of 8% in 2025 and double-digit expansion in the following years.
THE HANOI TIMES — Hanoi aims to register 30,000 new businesses in 2025 and another 200,000 by 2030, according to a directive issued by Chairman of the Hanoi People's Committee Tran Sy Thanh on May 10.
The plan was outlined in Document No. 129/KH-UBND, which implements Prime Minister Directive No. 10/CT-TTg dated March 25, 2025, on boosting the development of small and medium-sized enterprises .
A garment factory in Dong Anh District, Hanoi. Photo: Chien Cong/The Hanoi Times
The directive calls on local agencies to adopt a citizen- and business-focused approach and offer proactive and coordinated support.
To improve the business environment, Hanoi will further streamline administrative procedures in 2025 to save time and cut compliance costs for administrative and internal procedures under the city's jurisdiction by at least 30%.
It will also seek to eliminate at least 30% of unnecessary business conditions to improve transparency and monitoring.
The city targets to have over 50% of companies engage in innovative activities by 2025.
Hanoi aims to attract 20 to 25 enterprises to the city's key industrial products program, with 30 to 35 products recognized, including 10 to 15 newly certified products. Total retail sales of goods and services are expected to increase by 9% to 10%.
In addition, the city expects to create 167,000 jobs by 2025, keep the urban unemployment rate below 3%, and raise the rate of educated workers to 75%, with 55% having formal qualifications or certificates.
The city also aims to disburse over 95% of its allocated public investment capital by 2025.
By the end of 2024, Hanoi had over 400,000 registered enterprises, with nearly 220,000 operating. Of these, 98.2% were small and medium-sized enterprises, accounting for 55.1% of employment and contributing over 40% of the city's GDP.
