10 months: Localities 'breakthrough', stable macro-economy

(Chinhphu.vn) - At the regular Government meeting in October 2025 held on the morning of November 8, reports showed that the economy continued to maintain macroeconomic stability, control inflation and ensure major balances. Many localities contributed to this overall result, creating momentum for socio-economic development in the final months of the year.

Regular Government meeting in October 2025 chaired by the Prime Minister - Photo: VGP/Nhat Bac

According to the report of the Ministry of Finance , since the beginning of the year, our country has been steadfast and determined to complete a very large and complicated volume of work, promptly handling arising problems. Thanks to that, macroeconomic stability has been maintained, inflation has been controlled, major balances have been ensured; production and business have been promoted. The consumer price index (CPI) for 10 months increased by 3.27% over the same period. Credit growth is high, reaching 20.69% over the same period. State budget revenue for 10 months is estimated at over 2.18 million billion VND, equal to 111% of the estimate and up 30.8% over the same period; the structure of state budget revenue is towards sustainability. Energy security, food security, supply and demand of essential goods have been maintained; budget deficit and public debt have been well controlled...

The above results were achieved thanks to the active contributions of localities. Vice Chairman of the Hanoi People's Committee Truong Viet Dung said that in the first 10 months of 2025, the local budget revenue reached 583,000 billion VND, equal to 113.5% of the estimate and increased by 37% over the same period, the highest increase in 5 years. FDI attraction reached 4 billion USD, 2.3 times higher than the same period; tourism and service sectors continued to be vibrant; the business environment maintained an improving trend, with nearly 28,000 newly established enterprises and a total registered capital of nearly 350,000 billion VND.

In October, the City successfully organized the Hanoi Party Congress. Also in the month, Hanoi started 8 major projects with a total investment of about 70,000 billion VND, focusing on key areas such as transportation, health care, education, culture and urban development. Notable projects are Tran Hung Dao Bridge, Thuong Cat Bridge, urban railway line No. 2, Co Linh tunnel, Cadre Training School and Kidney Hospital.

The city has identified digital transformation as not only an administrative task but also an important pillar of socio-economic development. In particular, Hanoi has launched many new features on the iHanoi application to improve the quality of service to the people.

A notable highlight is the progress of public investment disbursement. For the first time, Hanoi's disbursement rate exceeded the national average, reaching 55.4%. Sharing implementation experience, Vice Chairman Truong Viet Dung said that public investment disbursement must be organized as a large-scale "economic-administrative campaign", with flexible goals, progress and management mechanisms. Implementing the Prime Minister's direction, on October 31, the City issued a 75-day peak plan to promote public investment disbursement. The plan sets specific progress milestones: by November 30, 65% of the plan will be disbursed (expected to reach 68%); by December 31, 80% will be achieved; and by January 31, 2026, 100% of the assigned plan will be completed, corresponding to a total capital of VND 88,000 billion.

Regarding the two-level government model of decentralization and delegation, Hanoi believes that for the model to be effective, it is necessary to strengthen implementation capacity at the grassroots level and ensure a flexible coordination mechanism. Currently, the city has about 2,067 administrative procedures, of which the commune level is responsible for 415 procedures. This week, Hanoi will continue to delegate about 210 more procedures from the city level to the commune level; at the same time, allow departments to proactively delegate monthly or quarterly based on actual conditions. The city will also pilot a model of one to two wards/communes with comprehensive decentralization and delegation of administrative procedures and socio-economic fields for a period of one month, then evaluate for replication.

In addition, Hanoi continues to pay attention to social security issues and support business development. Regarding the key tasks of the last two months of the year, this week the City will report to the Standing Committee and the Standing Committee of the City Party Committee to launch a 45-day peak period to strive for an 8% growth rate. Hanoi commits to the Prime Minister and Deputy Prime Ministers to complete the 8% growth target as assigned by the Government.

Experience from the 'bright spot' Hai Phong

Chairman of Hai Phong City People's Committee Le Ngoc Chau said that in the first 10 months of 2025, the total state budget revenue in the area reached 162,000 billion VND, exceeding the Prime Minister's estimate by nearly 10% and increasing by 31.1% over the same period last year. The city has 6,258 newly registered enterprises, up 33.2%; total registered capital reached 169,000 billion VND, up 161% over the same period.

Regarding GRDP growth, the City's third quarter of 2025 increased by 12.47%; the cumulative 9-month increase was 11.59% over the same period, ranking 2nd out of 34 provinces and cities. The industrial production index (IIP) increased by 15.2%. Domestic investment attraction reached about 335,000 billion VND, 12.9 times higher; FDI attraction reached 2.3 billion USD.

Regarding public investment disbursement, the total capital allocated is nearly 36,000 billion VND for more than 3,000 projects. To date, the City has disbursed about 74.6% of the plan assigned by the Prime Minister and aims to complete at least 100% by 2025.

Regarding social housing development, according to the Government's target, Hai Phong must complete 49,400 units in the 2021-2030 period; 10,694 units in 2025 alone. Up to now, the City has handed over more than 6,000 units and is expected to hand over more than 4,000 units from now until the end of the year, bringing the total to about 11,000 units, exceeding the assigned target.

Regarding the two-level local government model, the City determined from the beginning that it was necessary to fully invest in facilities, focusing on public administration centers and online infrastructure to ensure smooth leadership, management, and interaction between the government and people and businesses. Hai Phong has focused on investing in digital infrastructure for management, while organizing inspection teams and training courses to promptly resolve difficulties, especially for new cadres and civil servants. The City has also mobilized and supplemented personnel for commune and ward levels, especially in complex areas such as land, construction, and finance.

Up to now, the two-level government model in Hai Phong has been assessed as operating effectively, demonstrated through the results of socio-economic development and the satisfaction of people and businesses.

Sharing practical experience, Mr. Le Ngoc Chau said that immediately after the merger, the City focused on building a socio-economic development scenario and a public investment disbursement scenario for each project. On that basis, specific targets were assigned to each department, branch and field, helping the direction and management work to be smooth and clear in goals.

The second experience is promoting digital transformation in administration and management, allowing the City to closely monitor the situation on a daily and weekly basis. Thanks to the continuously updated data system, Hai Phong can come up with timely and flexible solutions; slow-progressing tasks are required to be accelerated, thoroughly implementing the spirit of "if working during the day is not enough, work at night" as directed by the Prime Minister, in order to complete the set goals.

Anh Tho

Source: https://baochinhphu.vn/10-thang-dia-phuong-but-pha-kinh-te-vi-mo-on-dinh-102251108111131967.htm