Hanoi continues to improve the efficiency of urban economy

Notably, with the leading role of a special urban area, the capital of the whole country, during the 2020-2025 term, the Hanoi Party Committee issued and made efforts to implement Program No. 03-CTr/TU dated March 17, 2021 on "Urban beautification, urban development and urban economy in the period of 2021-2025". Thanks to that, urban advantages are being fully exploited, creating many changes in urban economic development.

Tourists shop at the walking - cultural space in the area of ​​Tran Nhan Tong street and surrounding areas (Hai Ba Trung district). Photo: Nguyen Quang

Positive shifts

Implementing Program No. 03-CTr/TU, Deputy Director of Hanoi Department of Construction (Standing agency of Steering Committee of Program No. 03-CTr/TU) Mac Dinh Minh said that Hanoi People's Committee has approved the Project on urban economic development of Hanoi from 2023. Based on the assessment of the current status of urban economic development of Hanoi in the period of 2016-2020, the Project identifies tasks and solutions for urban economic development of the city until 2025, with a vision to 2030. This is considered the "backbone" for implementing the goal of developing the capital's urban economy in a fast, effective and sustainable manner; making Hanoi by 2030 become the center and driving force for the development of the Red River Delta, the Northern Key Economic Zone and the whole country.

In particular, implementing the target of "Developing and expanding 3-5 areas into walking spaces and streets" according to Program No. 03-CTr/TU, up to now, the city has completed walking spaces and streets in the Urban Area South of Ring Road 3 - Bitexco; walking space around Son Tay Citadel; walking - cultural space in Tran Nhan Tong street and vicinity, flower garden, walking path around Thien Quang lake...

Regarding the development of the night food street, on January 18, Dong Da district opened Nguyen Van Tuyet food street. This is the third food street in Hanoi (next to Tong Duy Tan street, Hoan Kiem district and Dao Ngoc - Ngu Xa, Ba Dinh district), and is also the first food street in Dong Da district to apply cashless payment methods.

Implementing the development of the night economy, implementing the direction of the City People's Committee, the Department of Science and Technology is completing the Project "Developing the night economy in Hanoi". From a local perspective, Hoan Kiem is one of the leading districts with the Project "Developing the night economy in Hoan Kiem district". Chairman of the Hoan Kiem District People's Committee Pham Tuan Long affirmed that the night economy has been bringing in a large source of revenue, contributing to improving the lives of people in the area, as well as improving the spiritual life of the people.

In addition, the city also identified continuing to effectively and synchronously develop the real estate market as a solution to bring about urban economic efficiency. Accordingly, from 2021 to the end of the first 9 months of 2024, the Hanoi Department of Construction has confirmed that 77 projects are eligible to sell future housing, providing the market with 39,332 products, equivalent to 4,444,693 square meters of housing floor space. The functional departments and offices have also reviewed and posted on the Department's electronic information portal a list of real estate trading floors according to regulations. The Department has also inspected and issued a written confirmation of housing in projects that are eligible for business, publicly posting on the website to help people know.

In addition, in order to continue implementing the Project on management and development of logistics activities in the city until 2025, the units continue to manage and promote the effectiveness of the two operating logistics centers, namely Hateco (Sai ​​Dong B Industrial Park, Long Bien District) and the Northern Regional Transportation Exploitation Center (in Kim Hoa Commune, Me Linh District). At the same time, the City People's Committee has also approved the investment policy for 3 projects to invest in building logistics service infrastructure in Gia Lam and Hoai Duc districts. 9 other projects are being proposed for investment policy.

Assessing the current state of urban economic development in Hanoi, Deputy Director of the Hanoi Institute for Socio-Economic Development Nguyen Thi Diem Hang stated that the economic structure of urban areas is increasingly shifting towards modernity. The service sector accounts for the largest proportion, from 70% to 90%, fully reflecting the characteristics of Hanoi urban areas, typically the inner-city districts. Some newly established districts also have a rapid economic restructuring towards increasing the proportion of services and industry. Some key sectors in the urban economy have also been established and developed.

Regarding some specific areas, Ms. Nguyen Thi Diem Hang analyzed that e-commerce and modern retail through supermarkets, shopping malls, and convenience stores have developed well, clearly demonstrating their role in ensuring supply and demand of goods, serving the shopping needs of the people of the capital, gradually replacing traditional grocery stores. Tourism continues to be restructured towards improving service quality, focusing on investing in infrastructure and developing diverse products, especially at key tourist destinations. High-quality education, training, and healthcare services are increasingly invested in, better meeting the needs of the people of the capital. Banking and financial services continue to develop, diversify, and modernize.

Many spaces for urban economic development

However, many economic experts have also pointed out that the economic growth of Hanoi urban area is not really sustainable, reflected in the uneven growth rate over the years. The growth rate of added value of the service sector in many districts is still low. High-quality service sectors are slow to develop, not meeting the general development requirements in the process of international integration as well as not promoting the potential strengths of the urban area.

Hanoi's typical economic models such as night economy, sharing economy, and newly developed business models are still spontaneous, have many shortcomings, and their exploitation is still modest and ineffective.

In that context, looking back at Resolution No. 06-NQ/TU dated January 24, 2022 of the Politburo on planning, construction, management and sustainable development of Vietnamese urban areas to 2030, with a vision to 2045, we can clearly see the important role of urban development in general and urban economy in particular in the coming period to serve the country's sustainable development goals. As one of the two special cities of Vietnam, Hanoi has a great responsibility in implementing the set goals of urban development and urban economic development.

“Hanoi must be a city that achieves high standards in urban economic development indicators, a place to implement the target of “Building a national and regional smart urban network connecting internationally and 3-5 urban areas with regional and international recognized brands by 2030”. By 2045, it will be one of “5 urban areas reaching international stature, playing the role of a hub for connection and development with regional and international networks. The economic structure of the urban area develops in a modern direction, with green economic sectors and digital economy accounting for a large proportion”, Ms. Nguyen Thi Diem Hang stated.

Resolution No. 15-NQ/TU dated May 5, 2022 of the Politburo on the direction and tasks of developing Hanoi Capital to 2030, with a vision to 2045, also sets for Hanoi many very high development targets on economic growth, increasing people's income, and building a civilized - modern - cultural capital.

Faced with the above high and urgent requirements, Hanoi's urban economy in the coming period needs to have breakthrough developments in the direction of civilization, modernity, intelligence, bringing about remarkable changes. According to experts, Hanoi has completed a synchronous system of legal tools to develop the capital in the right direction. In particular, the orientation of overall spatial development and each urban development area will be specified, contributing to improving urban quality, suitable for infrastructure conditions, associated with improving urban economic efficiency, improving the quality of life of the people. This orientation will also open up new urban economic development spaces for the city.

Entering 2025, with the effort to "reach the finish line" of the targets of Program No. 03-CTr/TU, Hanoi urban area will be increasingly renovated, opening up many spaces for large-scale, unique, and outstanding urban economic development, meeting practical demands.

(To be continued)

Source: https://hanoimoi.vn/ky-niem-95-nam-ngay-thanh-lap-dang-cong-san-viet-nam-3-2-1930-3-2-2025-y-dang-hoa-quyen-long-dan-dua-dat-nuoc-tien-vao-ky-nguyen-moi-bai-6-ha-noi-tiep-tuc-nang-cao-hieu-qua-cua-kinh-te-do-thi-691543.html