Hanoi should position itself to come abreast of regional cities: PM

Hanoi should work to reach a higher status that is no longer of national level but regional one, Vietnam’s Prime Minister Nguyen Xuan Phuc has said.

Vietnam’s Prime Minister Nguyen Xuan Phuc speaks at the conference on June 27. Photo: Zing

With a millennial history, Hanoi should be positioned as one of political, economic, and cultural hubs in Southeast Asia by 2045, PM Phuc said at the “Hanoi 2020 – Investment and Development Cooperation” conference on June 27. This was the fourth hosting of such an event by Hanoi with the aim of boosting investment in the city.

“Hanoi should not set a goal to compete with national cities but regional ones like Bangkok, Kuala Lumpur or Shanghai,” the PM said at the event attended by roughly 1,800 guests who are ambassadors, international experts, foreign and domestic businesses, and local officials.

The old mindset in governance is no longer suitable for a dynamic city whose leaders are open to listening to people, tackling problems for businesses, and facilitating all economic sectors, said PM Phuc.

Hanoi, whose leaders are pioneering and enterprising, has built up a political system of integrity and taking action for both people and businesses.

In addition, it has been ranked a safe investment destination for domestic and foreign investors thanks to its stable political environment.

As a result, Hanoi has drawn a number of large foreign direct investment (FDI) projects by many multinational companies.

Vietnam’s Prime Minister Nguyen Xuan Phuc and Chairman of the Hanoi People's Committee Nguyen Duc Chung. Photo: Zing

Factors for Hanoi’s growth

Speaking at the conference, PM Phuc said there are three main factors that Hanoi needs to take into account for its growth path.

Firstly, well-stipulated regulatory framework should come the first and foremost for Hanoi to offer opportunities to investors and open new markets for the city itself.

Secondly, the geographical position is one of Hanoi’s strengths to link to other localities and form an area of cooperation with larger chains of supply, production, and distribution.

Thirdly, good human resources would be very important for the city’s development. Good businesses, wealthy people, and competent individuals are encouraged to trust in the local government.

With the aforementioned reasons, Hanoi should have a green, clean, and livable environment with lots of energy. Startups and digital economy are listed among the city’s key goals, the PM suggested.