Hanoi proposes Government support in building a growth scenario of 10-10.5% in 2026

On the morning of September 9, the working delegation of the National Assembly's Economic and Financial Committee worked with the Hanoi People's Committee.

Party Central Committee member, Vice Chairman of the National Assembly Nguyen Duc Hai attended and delivered a speech.

The working delegation of the National Assembly's Economic and Financial Committee worked with the Hanoi People's Committee. Photo: Dinh Hiep

Comrade Phan Van Mai, member of the Party Central Committee, Chairman of the National Assembly's Economic and Financial Committee, led the working delegation.

Comrade Tran Sy Thanh, Member of the Party Central Committee, Deputy Secretary of the City Party Committee, Chairman of the Hanoi People's Committee received and worked with the delegation. Attending the meeting were leaders of relevant departments, branches and units.

In the first 6 months of 2025, GRDP increased by 7.63%

At the working session, Director of the Department of Finance Nguyen Xuan Luu presented a summary report on the implementation results of the socio-economic development plan, finance - budget, public investment in 2025 and the 5-year period 2021-2025, expected in 2026, 5-year period 2026-2030.

The report stated that, implementing the direction of the Central Government, the Hanoi People's Council issued 2 resolutions, the Hanoi People's Committee issued 3 action programs, 2 directives with the target of economic growth in 2025 of over 8% (determined from the beginning of the year) and striving for over 8.5% according to Resolution No. 226/NQ-CP dated August 5, 2025 of the Government.

Director of the Department of Finance Nguyen Xuan Luu presents the report. Photo: Dinh Hiep

In the first 6 months of this year, Hanoi's GRDP increased by 7.63% (6.13% higher than the same period in 2024 and the proposed scenario was 7.59%), striving to achieve the annual target of 8% or more. Total state budget revenue in the city by August 20, 2025 reached 460,236 billion VND, reaching 89.6% of the estimate, up 34.8% over the same period in 2024.

In the period 2021-2025, the capital's economy grew quite well, reaching an average of 6.57%/year, 1.1 times higher than the national growth rate. It is expected that by 2025, Hanoi's economic scale will reach about 63 billion USD, 1.42 times higher than in 2020, accounting for 41.54% of the Red River Delta and 12.6% of the country; GRDP per capita is estimated at 175 million VND (equivalent to about 7,200 USD).

To implement the 5-year medium-term public investment plan for 2021-2025, the city has so far allocated VND357,658.425 billion. The amount of unallocated funds for implementing the 2-level local government is VND3,582.958 billion. The city is considering allocating VND2,886.214 billion from unallocated funds for important and urgent projects.

According to the Director of the Department of Finance Nguyen Xuan Luu, in the 2026 plan, Hanoi will develop three growth scenarios, in which the selected scenario is a scenario with a target GRDP increase of 10-10.5%. In the 2026-2030 period, the city strives for an average GRDP growth rate of 11%/year or more; GRDP per capita of over 12,000 USD.

Regarding the implementation of Resolution No. 56/2022/QH15 dated June 16, 2022 of the National Assembly on the investment policy of the Ring Road 4 Construction Investment Project - Hanoi Capital Region, up to now, all 7/7 component projects have been approved by the People's Committees of Hanoi City and Hung Yen and Bac Ninh provinces for investment projects, approved designs after basic design and bid to select contractors. Contractors for the parallel road component projects are implementing construction on the entire route.

Focus on restoring the environmental quality of four inner-city rivers

At the meeting, Hanoi city proposed that the Government support the development of detailed growth scenarios for 2026, especially the scenario of GRDP target growth of 10-10.5%, with specific solutions to ensure major balances in budget, investment, import and export.

Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai speaks. Photo: Dinh Hiep

Along with that, the city proposed that the Government support ODA capital and technology to complete wastewater treatment projects (such as Nam An Khanh, Yen Xa) and restore the environmental quality of four inner-city rivers (To Lich, Kim Nguu, Lu, Set).

The city also recommended that relevant ministries and sectors support Hanoi in expanding export markets, diversifying supply chains and participating more deeply in regional and global supply chains, especially in creative industries, technology finance and smart logistics. In particular, it recommended that the Ministry of Agriculture and Environment support Hanoi in developing a project to handle local flooding in the 2026-2030 period and deploy low-emission zones.

With the characteristics of being the capital of the country, the need for regular expenditures of Hanoi in 2026 is very large. Therefore, the city recommends that the Ministry of Finance, the Government, and the National Assembly, when building the 2026 budget estimate for the city, pay attention to building revenue and expenditure estimates and a reasonable structure of development investment and regular expenditures so that the city can ensure resources to implement mechanisms, policies, and socio-economic development tasks to strive with the whole country to achieve the economic growth target set by the Central Government.

Regarding the implementation of the Ring Road 4 project, the site clearance rate of the entire project is currently nearly 99%. However, the remaining area is mainly residential land - the most difficult part and needs to be completed as soon as possible to ensure the overall progress of the project. Along with that are difficulties and problems with construction materials, affecting the progress and construction costs of the project.

Therefore, the city proposes that the Vietnam Road Administration synthesize and report to the National Assembly Standing Committee to allow the contractor of component project 3 to continue not having to carry out the procedures for granting a license to exploit minerals used as common construction materials in the Construction Materials Survey File serving the project as prescribed in Resolution No. 56/2022/QH15 dated June 16, 2022 of the National Assembly, the time allowed to apply until the completion of project construction.

Source: https://hanoimoi.vn/ha-noi-de-xuat-chinh-phu-ho-tro-xay-dung-kich-ban-tang-truong-10-10-5-nam-2026-715508.html