Hanoi: Shaping a development model geared towards double-digit growth.

On the morning of January 14th, at the fourth meeting of the Hanoi City Party Committee, Standing Committee member and Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu presented a summary report on the socio-economic development model of Hanoi based on science, technology, innovation, and digital transformation, linked with strategic solutions to promote double-digit growth.

Member of the Standing Committee of the City Party Committee, Vice Chairman of the City People's Committee Nguyen Xuan Luu presents the report. Photo: Quang Thai

Total state budget revenue reached 711 trillion VND.

In 2025, Hanoi underwent a significant transformation in awareness and action; shifting from administrative management to constructive governance, maximizing the advantages of its superior institutions under the Capital City Law and Resolution 258/QH15, with many outstanding results.

Specifically, GRDP growth reached 8.16% (exceeding the target of 8.0%, higher than the 6.52% of 2024). The size of the economy reached approximately US$63.5 billion; per capita income reached US$7,200…

Total state budget revenue reached 711 trillion VND (achieving 138.4% of the projected target, an increase of 38.4% - the highest level in recent years). Domestic revenue accounted for 94% of total revenue; disbursement of public investment capital reached nearly 90 trillion VND, equivalent to 106.8% of the plan assigned by the Prime Minister . Total mobilized credit capital reached nearly 6.9 million trillion VND (an increase of 13% compared to 2024).

In particular, the city has commenced construction on a series of key strategic infrastructure projects, such as: the Red River scenic boulevard, the Olympic urban area, 7 bridges over the Red River, urban railway lines, and the road connecting Gia Binh Airport with the capital... Along with that, social welfare is well ensured, including, in the last four months of 2025, tuition fees will be waived for preschool and primary school students (with a budget of 1,243 billion VND), and support for school lunch programs will be provided at approximately 1,082 billion VND.

In the last three months of 2025, the entire political system demonstrated a very high level of determination in accelerating land clearance and implementing special mechanisms; at the same time, it announced the innovation ecosystem, the number of online public services, and the roadmap to reach 80% by June 2026.

These results have laid a solid foundation and created momentum for strong growth in 2026 and beyond.

43 targets, 92 key tasks and solutions

Delegates attending the fourth meeting of the City Party Committee's Executive Board. Photo: Quang Thai

Regarding the main goals and solutions for 2026 and the 2026-2030 period, Vice Chairman of the City People's Committee Nguyen Xuan Luu stated that the main objectives (according to the Resolution of the 18th City Party Congress) include: achieving a GRDP growth rate of over 11% per year in 2026 and for the entire 2026-2030 period; the contribution of total factor productivity (TFP) to growth reaching 60% in 2026; the proportion of cultural industries reaching 6% in 2026 and 8% in 2030; and a GRDP size of approximately US$70.7 billion in 2026 and US$113 billion in 2030…

From November 26, 2025, the City People's Committee has assigned 43 targets and 92 key tasks and solutions, clearly detailing them by quarter, sector, and locality for close monitoring and supervision of implementation.

To achieve the target of 11% growth in 2026, Hanoi needs a total social investment of 730 trillion VND, including 220 trillion VND from the state sector; 126 trillion VND from public investment; 470 trillion VND from private enterprises and the people; and 40 trillion VND from foreign investment.

The city will aggressively implement the special policies recently approved by the National Assembly for Hanoi (Resolution No. 258), while focusing on removing bottlenecks and accelerating the progress of slow-moving land-use projects. If 50% of these projects are implemented by 2026, it will contribute an additional approximately 100 trillion VND to social investment capital. Therefore, the city will focus on accelerating the implementation of 5 large projects with strong spillover effects: the Olympic Urban Area (approximately 955 trillion VND/5 years), the Red River Landscape Axis (855 trillion VND/5 years), the Tran Hung Dao Bridge (8 trillion VND), the road connecting Gia Binh Airport (PPP project - 32 trillion VND), and Ring Road 4 (PPP - 23 trillion VND). These 5 projects alone are expected to contribute approximately 243 trillion VND in 2026.

In addition, the city is resolutely removing obstacles to public investment; applying new mechanisms for land clearance to accelerate the progress of Ring Road 1, Ring Road 2.5, and radial routes (National Highway 6, etc.); and at the same time, thoroughly implementing decentralization and delegation of investment procedures to speed up implementation and disbursement. Furthermore, the city is developing three specific financial mechanisms: a human resources mechanism, an innovation mechanism, and a flexible capital utilization mechanism.

Regarding the socio-economic development model of the capital city, the focus is on rapid, sustainable, double-digit growth, synchronously encompassing three pillars: economy, environment, and society. This includes development based on knowledge, science and technology, AI integration, innovation, digital transformation, and high-quality human resources.

Regarding the main growth drivers for the 2026-2030 period and solutions, Comrade Nguyen Xuan Luu stated that the city will form an innovation ecosystem for the capital with the Hoa Lac High-Tech Park as its core – a pilot site for new governance models, policies, technologies, and talent training.

Delegates attending the fourth meeting of the City Party Committee's Executive Board. Photo: Quang Thai

The city is also focusing on removing bottlenecks in mechanisms and policies, such as developing a new Resolution on the development of the Capital City, amending the Law on the Capital City, and realizing the Master Plan for the Capital City with a 100-year vision. It is developing the cultural industry into a key economic sector (target 8% of GRDP by 2030), with the Red River landscape axis as the main focus, exploiting heritage and landscapes; completing large-scale spaces such as the Thang Long Imperial Citadel, the Vietnamese Ethnic Groups Cultural and Tourism Village, the Son Tay Cultural and Heritage Area, and the Olympic Sports Complex… At the same time, it is accelerating land clearance, resolving slow-moving projects, and researching mechanisms for social housing. In particular, each commune and ward is developing its own economic development plan, leveraging local advantages and participating in supply chains.

Based on this, the city proposes amending and supplementing the Law on the Capital City in the direction of strong decentralization, delegation, and authorization; superior special mechanisms for public financial management, land regulations, and investment procedures for extremely large-scale projects; and allowing piloting of a free trade zone associated with an international airport and railway to create a springboard for attracting global technology corporations and forming an international financial center associated with the Red River space.

At the same time, the city proposed that the Central Government agree to establish a Steering Committee for the Development of the Capital Region and a Capital Region Development Fund (with a structure of 50% from the Central Government and 50% from Hanoi and other provinces) to implement inter-regional investment projects on environmental pollution control, infrastructure connectivity, etc.

Source: https://hanoimoi.vn/ha-noi-dinh-hinh-mo-hinh-phat-trien-huong-toi-tang-truong-hai-con-so-730041.html