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Aug 16, 2022 / 17:26

Hanoi boosts socio-economic growth, but remains vigilant against Covid-19

The city is keen to avoid any Covid-19 impacts that could derail its plan for socio-economic recovery for this year.

The Hanoi People's Committee has urged local agencies to remain vigilant against the Covid-19 pandemic and accelerate the disbursement of public funds, seen as a key task for socio-economic recovery for the rest of the year.

 Electronics production at Rhythm Precision Vietnam, Soc Son District, Hanoi. Photo: Pham Hung

Among the key tasks, the city would focus on the Covid-19 vaccine roll-out by providing boosters for eligible people, including the completion of vaccination for children aged 5-12 before September 2022, noted the municipal People’s Committee in a directive.

The city’s authorities reiterated public investment is a key task for economic development and considered pubic fund disbursement a key criterion to evaluate the performance of each agency, department, and unit by year-end, especially leaders and senior officials.

“Efforts are required to finalize the investment procedures for the Ring-road No.4, along with addressing bottlenecks during the implementation of projects financed by foreign capital and the ODA,” the directive requested.

Meanwhile, the authorities would continue to provide preferential loans for businesses and people affected by the pandemic as well as financial support for workers and low-income groups.

In the long term, the city is determined to restructure the economy in line with revising the growth model, which would be based on digitalization, development of a digital economy, energy transition to green growth, and a circular economy.

The Hanoi People’s Committee asked related agencies to ensure effective management of tax collection in 2022, at the same time adopting administrative reform and applying IT in tax collection to avoid possible revenue losses.  

The directive also stressed the necessity to speed up the implementation of three logistics projects, start the construction of two inland container depots (ICDs), and the parking lot project for Aeon Mall Hoang Mai.

Amid rising inflationary pressure, the local authorities should closely supervise the market situation to timely intervene, if needed, and keep the consumer price index (CPI) below the 4% target.

“Local agencies should follow any policy changes from major economies to anticipate impacts on the domestic economy and provide solutions to facilitate trade, ensure sufficient supplies of strategic commodities, especially petroleum products,” noted the directive.

It also provided that Hanoi would further support the speedy recovery of services sectors, promote the night economy, and open new walking streets around the city.

A major task for Hanoi in the coming time would be to complete the city’s planning for the 2021-2030 period, with a vision for 2050; revise the construction planning of Hanoi until 2030, with a vision for 2050; finalize the planning of satellite cities namely Phu Xuyen, Xuan Mai, and other rural districts.

Hanoi is determined to tighten discipline in urban management and construction order, along with the implementation of the housing development program for the 2021-2030 period, with a vision to 2040. Under the resolution of the municipal People’s Council, the city would soon issue a regulation on the renovation of old buildings in the city and complete the appraisal of the state of old buildings in the city.

In addition, Hanoi will strive to ensure that the clean water supply rate in rural areas reaches 85%, and accelerate the construction of the waste-to-energy plant project by Seraphin Green Environment Technology Company, Yen Xa wastewater treatment plant (Thanh Tri District), address traffic congestion and flooding in the inner city areas due to heavy rainfall.

Positive economic performance during the first half of 2022 led to the city’s gross regional domestic product growth by 9.49% during the second quarter, beating the expectation of 6.4-6.9% set in early 2022.

This resulted in Hanoi’s economic growth of 7.79% in the first half of 2022, a 1.29-fold increase against the same period of last year and higher than the 7.21% rate recorded in the six months of 2019 (before the pandemic).

The city is determined to maintain the growth momentum and strive for the GDP growth target of 7-7.5% for 2022.