For the first half of 2018, Hanoi's gross regional domestic products (GRDP) rose 7.07% against the same period of last year, in which service and industrial sectors played a major part, according to a recent report by Hanoi's Statistics Office.
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Industrial production continued its high growth rate, reaching a higher-than-average growth rate of 8.1% year-on-year.
Meanwhile, the service sector in the six-month period expanded hit 7.04% against the comparable period of 2017, adding 4.93 percentage points to the overall growth. Some major sector with large proportion in the GRDP remained stable, such as: retail and service revenue (up by 9.5%); accommodation service (up by 17.8%).
The office said that in the first six months, total mobilized capital of credit institutions stood at VND2,81 trillion (US$122.37 billion), up 6.4% compared to December 31, 2017. Meanwhile, credit demands were met, and bad debt was tamed at 2.82% of total outstanding loans.
The value of the agriculture, fishery and forestry sector increased by 2.99%, contributing 0.07 percentage points to the GRDP rise.
For 2018, Hanoi has set the GRDP growth target of 7.3-7.8%. Additionally, the capital city expects the service sector to grow by 6.9-7.5%, the industrial and construction sector by 8.2-8.7%, and export turnover by 7.5-8%.
