Hanoi is taking science, technology, innovation, and the digital economy as its main drivers of growth.

On the morning of January 10th, reporting at the working session between General Secretary To Lam and the Standing Committee of the Hanoi City Party Committee, Standing Committee member and Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu stated that Hanoi is clearly defining a socio-economic development model based on science, technology, innovation, and digital transformation, considering this as a key driving force to achieve double-digit growth from 2026 and the 2026-2030 period.

Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu reported at the meeting.

A clear shift from an administrative management model to a constructive, development-oriented management model.

According to Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu, in implementing the directives of General Secretary To Lam , the strategic resolutions of the Central Committee, and the application of advanced institutions such as the 2024 Capital City Law and Resolution No. 258/2025/QH15, Hanoi has undergone a strong transformation in both awareness and action. The city has clearly shifted from an administrative management model to a constructive and development-oriented governance model.

The delegates attending the meeting.

The results for 2025 show many positive milestones. GRDP growth reached 8.16%, exceeding the target of 8.0% and significantly higher than the 6.52% of 2024. The size of the economy reached approximately US$63.5 billion, and per capita income reached US$7,200.

Total social investment reached 595 trillion VND; FDI attracted reached 4.3 billion USD, an increase of 169% compared to the same period, with implemented capital reaching 1.44 billion USD. The city had over 32,000 newly registered businesses, an increase of 12%, with total registered capital reaching 420 trillion VND, an increase of 45%.

Import and export activities continued to grow, with total turnover reaching 68 billion USD, an increase of 11.6%. Of this, exports reached 20.8 billion USD, an increase of 8.4%; and imports reached 47.3 billion USD, an increase of 13.0%.

State budget revenue achieved outstanding results with total revenue of 711 trillion VND, reaching 138.4% of the projected target, an increase of 38.4%, the highest level in recent years. Domestic revenue reached 668.4 trillion VND, accounting for 94% of total revenue. Local budget expenditures were ensured in a timely manner for all levels and sectors. 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 2025, Hanoi also commenced construction on many strategic infrastructure projects, creating breakthroughs in development and urban connectivity, 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.

Social welfare continues to be a priority. In the last four months of 2025 alone, the city waived tuition fees for preschool and primary school students with a budget of 1,243 billion VND; and provided support for school lunch programs totaling approximately 1,082 billion VND.

In particular, the results achieved in 2025, especially in the last three months, demonstrate the high determination of the entire political system and the decisive involvement of all levels and sectors in key areas such as land clearance, implementation of special mechanisms under Resolution 258, building an innovation ecosystem, developing full-process online public services, and promoting decentralization and delegation of power. From July 1st to December 31st, 2025, the City has decentralized and delegated 79 state management tasks from the City level to the commune level; raising the total number of tasks at the commune level to 841. It is expected that in 2026, an additional 97 tasks will be decentralized, bringing the total to 938 tasks.

Identifying a model for rapid but sustainable and synchronized growth.

According to Nguyen Xuan Luu, Vice Chairman of the Hanoi People's Committee, the 18th Hanoi Party Congress has set key development goals for 2026 and the 2026-2030 period. Accordingly, Hanoi aims for economic growth exceeding 11% in 2026 and maintaining this level during the 2026-2030 period; the contribution of total factor productivity (TFP) to growth in 2026 is targeted at 60%.

The proportion of the cultural industry will reach 6% by 2026 and 8% by 2030; the proportion of the digital economy will reach 35% in 2026 and increase to 40% by 2030. Total social investment in 2026 is expected to reach 730 trillion VND; and approximately 5 million trillion VND for the entire period of 2026-2030.

The estimated GRDP in 2026 is $70.7 billion, reaching approximately $113 billion by 2030. GRDP per capita is projected to reach $7,900 in 2026 and $12,000 by 2030.

To realize these goals, from November 26, 2025, the City People's Committee has assigned 43 targets along with 92 key tasks and solutions, broken down by quarter, sector, and locality, in order to closely monitor and supervise the implementation process.

The delegates attending the meeting.

According to Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu, to achieve an 11% growth rate in 2026, Hanoi needs a total social investment capital of 730 trillion VND, including 220 trillion VND from the state sector (of which 126 trillion VND is public investment), 470 trillion VND from the private sector and the people, and 40 trillion VND from foreign investment.

The city has identified key solutions to be implemented comprehensively from the beginning of 2026, including implementing specific policies according to Resolution 258/2025/QH15 of the National Assembly; focusing on removing bottlenecks and accelerating the progress of slow-moving land-use projects. If 50% of these projects are implemented in 2026, it will contribute an additional approximately 100 trillion VND to social investment capital.

Hanoi is also accelerating the progress of major projects such as the Olympic Urban Area, the Red River Landscape Axis, the Tran Hung Dao Bridge, the road connecting Gia Binh Airport, and the Ring Road 4 Project… These five projects alone are expected to contribute approximately 243 trillion VND to growth in 2026.

This also involves decisively removing obstacles to public investment projects, applying new mechanisms for land clearance to accelerate the progress of ring roads and radial routes; thoroughly implementing decentralization and delegation of investment procedures; and building new financial mechanisms related to human resources, innovation, and flexible capital utilization.

Regarding its development model, Hanoi has identified rapid but sustainable growth, synchronously encompassing all three pillars: economy, society, and environment; developing a socialist-oriented market economy while ensuring social security, protecting the environment, and improving the quality of life for its people. The city promotes new economic models such as the green economy, digital economy, circular economy, and night-time economy, while also researching new economic models suitable to its development context.

During the period 2026-2030, Hanoi will prioritize science and technology, innovation, and the digital economy as its main growth drivers. The city will focus on developing digital infrastructure, shared data, and AI; building a digital government, digital economy, and digital society; and developing a "Make in Hanoi" innovation ecosystem, aiming to become a startup capital, a center for high-tech research and development, semiconductor industry, green economy, and circular economy. The city has selected 31 key projects and initiatives to focus on and oversee their implementation.

Simultaneously, Hanoi continues to remove bottlenecks in mechanisms and policies; finalize the Capital City Master Plan with a long-term vision; develop the cultural and tourism industries into key economic sectors; organize urban space according to a multi-polar, multi-centered cluster model; improve the investment environment, using public investment to lead and activate private investment and FDI; strongly develop the private economy, and enhance the efficiency of the state-owned economy.

To achieve the target of over 11% annual GRDP growth and a 40% share of the digital economy by 2030, Hanoi proposes that the Central Government continue to support the amendment and supplementation of the Law on the Capital City in the direction of stronger decentralization, delegation, and authorization; allowing the application of superior special mechanisms in finance, land, and investment for large-scale projects, including piloting free trade zones linked to international transportation hubs.

The city also proposed the establishment of a Steering Committee and a Capital Region Development Fund with a mechanism of joint contributions from the central and local governments to implement inter-regional projects, especially those related to the environment and connecting infrastructure.

Hanoi City People's Committee Electronic Portal

Source: https://mst.gov.vn/ha-noi-lay-khoa-hoc-cong-nghe-doi-moi-sang-tao-va-kinh-te-so-lam-dong-luc-tang-truong-chu-dao-197260112101932222.htm