Hanoi's economic growth on the rise
Positive economic results are thanks to the city’s strong pushes amid the Covid-19 pandemic.
Hanoi continues to show positive economic performance in May as the city remains steadfast on pursuing the twin targets of both containing the pandemic and boosting economic growth.
|Hanoi's Mayor Chu Ngoc Anh at the meeting. Photo: Kinhtedothi|
Chairman of the Hanoi People’s Committee Chu Ngoc Anh gave the assessment in the city’s monthly meeting today [May 27].
In May, Hanoi’s index of industrial production rose by 1.8% against last month and 5.1% year-on-year, leading to an overall growth of nearly 10% year-on-year in the five-month period.
The manufacturing and processing sector, accounting for 96% of total production value in the industry sector, increased by 9.7% year-on-year, Ngoc Anh noted.
Director of the municipal Planning and Investment Department Do Anh Tuan said such results were thanks to the city’s strong push for ensuring smooth operation of economic activities despite the Covid-19 pandemic.
|Production at Garment 10 company. Photo: Cong Tho|
Tuan informed the city’s export turnover stayed around the same level of April at US$1.25 billion, expanding 2.5% against last May, while imports rose by 4.7% month-on-month and a whopping of 26.2% year-on-year in the January-May period.
The city’s mayor also pointed out other positive economic indicators, including total revenue from retail sales and services of VND243.8 trillion (US$10.53 billion) in Jan-May, up 11.2% year-on-year; foreign direct investment (FDI) attraction of over US$591 million; and budget revenue of VND110.6 trillion (US$4.78 billion), up 6.5% year-on-year.
In May, the city’s consumer price index (CPI), a gauge of inflation, rose by 1.8% against April and 0.43% year-on-year.
The CPI, however, declined by 0.5% in the first five months compared to the same period of last year and stayed under control, Tuan added.
This year, Hanoi sets a growth target of 7.5% from the estimated 3.94% in 2020.
- Hanoi eyes GRDP growth of 7% for 2023
- Hanoi’s GRDP growth set to hit 8.89% in 2022
- Hanoi police arrest nine suspects for illegal online gamble
- Promote the heritage of Thang Long Imperial Citadel in France
- Hanoi People’s Council convenes 10th session
- Hanoi's lawmakers to begin discussions on socio-economic issues on Dec 7
- Hanoi seeks cooperation with ASEAN cities for shared prosperity
- Hanoi mayor urges drastic actions to lift public investment performance
- Hanoi eyes more economic zones and satellite cities
- Leipzig to set up representative office in Hanoi
Vietnam, France to deepen strategic partnership
Hanoi eyes GRDP growth of 7% for 2023
Vietnam holds 1st International Arms Expo
Miss Tourism World 2022 contestants explore Hanoi’s beauty
Hanoi People’s Council convenes 10th session
Thailand, Vietnam urged to be more proactive in new int’l challenges
Vietnamese Gov’t to divest state capital at 141 businesses until 2025
Green growth an inevitable trend for Vietnam: PM
It's imperative for Hanoi to develop public transport: Experts