Economic highlights of the Capital in the period 2021-2025

However, the Party Committee, government and people of the capital have made efforts to overcome difficulties and synchronously implemented many solutions to restore and develop the economy , thereby achieving outstanding and comprehensive results.

Electronic components production at Katolec Vietnam Co., Ltd. (Quang Minh Industrial Park). *Photo: Do Tam*

Economic structure shifts in a positive direction

In the 2021-2025 period, Hanoi 's Gross Regional Domestic Product (GRDP) is expected to increase by an average of 6.57% per year, 1.1 times higher than the national average. The economic scale is estimated at about 63 billion USD, 1.42 times higher than in 2020, accounting for 41.54% of the economic scale of the Red River Delta and 12.6% of the country. GRDP per capita is estimated at 7,200 USD per year.

Notably, the economic structure of the capital has clearly shifted in a positive and modern direction, strongly increasing the proportion of services, making trade - services - tourism the spearhead, while gradually reducing the proportion of agriculture . Along with that, Hanoi actively develops new economic models in line with global trends.

Currently, the trade and service sector accounts for nearly two-thirds of the local GRDP, affirming the city's correct orientation. If in 2020, Hanoi's economic structure included services accounting for 55.5-56.6% of GRDP, industry and construction 41-42%, and agriculture 2-2.5%, then in the first 9 months of 2025, the structure has clearly shifted, the service sector accounts for a large proportion of 67.65%; the industry and construction sector accounts for 20.53%; the agricultural sector is only 1.92%.

The trade and service sector continues to be restructured in a modern direction, focusing on e-commerce, digital services, high-quality services, and new potential economic sectors, such as creative industries associated with cultural industries (design, media, digital content, performing arts, handicrafts, etc.). Tourism also recorded many breakthroughs. Meanwhile, industry is oriented to develop in a modern direction, focusing on information technology and key industries with high added value.

In particular, the service sector continues to be the mainstay of the economy, contributing significantly to overall growth. In 2024, total retail sales of goods and consumer service revenue will maintain double-digit growth, reaching VND853.3 trillion, up 10.8%.

In the first 9 months of 2025 alone, total retail sales of goods and consumer service revenue reached 702.2 trillion VND, up 12.9% over the same period last year. The added value of the service sector is estimated to increase by 8.74%, contributing 5.92 percentage points to the city's GRDP growth.

Exports maintain their role as a pillar of economic growth

In the context of a challenging global economy with the Covid-19 pandemic, complex geopolitical tensions, increasing trade conflicts, many countries applying non-tariff barriers and stricter environmental standards, export activities in Hanoi still recorded encouraging results. Export turnover increased over the years, affirming its role as one of the important pillars of the capital's economic growth.

In the 2021-2024 period, the export turnover of goods will increase by an average of 6% per year. In 2021, the export turnover of goods will reach 15.49 billion USD; in 2022, it will reach 17.13 billion USD; in 2023, it will reach 16.66 billion USD; in 2024, it will reach 19.13 billion USD.

It is expected that in 2025, the export turnover in Hanoi will reach 20.5 billion USD, thus the average increase in the 5 years 2021-2025 will be 6.2%/year - achieving the set plan. In the first 9 months of 2025 alone, the export turnover of goods is estimated to reach 15.7 billion USD, an increase of 12.1% over the same period last year. Some groups of goods with high export turnover include: Machinery, equipment and spare parts 2,436 million USD, an increase of 44.7%; means of transport and spare parts 2,165 million USD, an increase of 31.4%...

To achieve this positive result, in addition to the recovery of the global supply chain, Hanoi also launched dozens of large-scale trade promotion events at home and abroad. In addition to participating in international fairs, Hanoi promoted trade promotion on digital platforms, through connecting information with trade counselors and international organizations.

Enterprises also diversify products; proactively source export goods through investment in building raw material areas and agricultural product processing factories; at the same time innovate export methods such as promoting online trade, exporting through large e-commerce platforms or foreign retail groups; strengthen trade connections with key markets such as the US, Japan, the European Union (EU)...

Thanks to that, in addition to maintaining traditional markets, Hanoi has expanded to many new markets; to date, it has established trade relations with about 180 countries and territories, including important partners such as the US, Japan, China, Germany, UK, Australia, Singapore, etc.

Affirming position in attracting FDI capital

In recent times, Hanoi has always been an attractive destination for foreign investors. From 2020 to October 14, 2025, the city has attracted a total of more than 15.625 billion USD in foreign direct investment (FDI). In the first 10 months of 2025 alone, Hanoi recorded more than 3.858 billion USD in FDI, nearly three times higher than the same period in 2024 and far exceeding the planned target. Of which, the additional capital from 115 projects accounted for more than 83%, demonstrating the strong confidence of existing investors.

Key sectors attracting large capital include real estate, manufacturing and processing industry, goods trading services, trade and scientific and professional activities. To date, the capital has also attracted investment capital from 117 countries and territories, of which Japan, Singapore and South Korea are the leading partners.

This remarkable growth comes from a combination of many factors. First of all, the attraction of large capital-raising projects demonstrates the strong confidence of international corporations in the business environment and sustainable development potential of Hanoi. Strategic geographical location and synchronous infrastructure are also key advantages, helping Hanoi become an important gateway with an increasingly modern transportation system, creating favorable conditions for logistics and market connection. In addition, abundant, high-quality human resources from hundreds of universities and colleges are a great competitive advantage, especially in the fields of technology and engineering.

In recent times, Hanoi has been proactively researching and developing flexible and effective investment attraction mechanisms and policies. The city focuses on investment incentives by industry and location, especially in industrial parks and high-tech parks such as Hoa Lac, prioritizing high-tech fields, manufacturing and processing industries, and high-quality services. At the same time, Hanoi has also increased comprehensive support for businesses through the establishment of special working groups to promptly remove difficulties and maintain regular dialogue channels.

At the same time, the investment and business environment has been gradually improved. The city has issued and implemented annual plans on improving the investment and business environment, developing enterprises, promoting investment, etc.; at the same time, dialogue and listen to the opinions of enterprises to find ways to support the restoration of production and business with drastic and effective solutions. The above factors have strengthened the confidence of the domestic and foreign business community, continuing to affirm Hanoi as the leading safe, attractive and sustainable investment destination in the country.

With the goal of becoming the driving force for the development of the Red River Delta and the whole country by 2030, a growth pole with regional influence, Hanoi sets a target of an average GRDP growth rate of about 11%/year in the 2026-2030 period; GRDP per capita exceeding 12,000 USD; the proportion of digital economy accounting for 40% of GRDP; social investment capital reaching about 5 million billion VND. These are very high targets, requiring the city to synchronously deploy breakthrough, feasible and effective solutions.

With high political determination, strategic vision and synchronous solutions, Hanoi will create a new turning point in the period 2025-2030. The goal is not only rapid growth but more importantly sustainable and modern development, worthy of the capital - the political, economic and cultural center of the whole country.

Source: https://hanoimoi.vn/diem-nhan-kinh-te-thu-do-giai-doan-2021-2025-719654.html