Capital's Economy in 9 months of 2025: Growth and breakthrough

In the first 9 months of 2025, the capital's economy continued to grow strongly with many breakthrough indicators. This is an important premise for Hanoi to complete the economic growth target of 8% or more this year and aim for double digits in the coming years.

Electronic components production at Channel Well Technology Vietnam Co., Ltd. (Quang Minh Industrial Park). Photo: Quang Thai

GRDP increased by 7.92% in 9 months

According to data from Hanoi City Statistics, the Gross Regional Domestic Product (GRDP) in the third quarter of 2025 is estimated to increase by 8.2% over the same period last year. Of which, the service sector increased by 8.83%; the industrial and construction sector increased by 7.35%; the agricultural, forestry and fishery sector increased by 3.89%; product taxes minus product subsidies increased by 6.62%. In the first 9 months of 2025, the city's GRDP is estimated to increase by 7.92% over the same period in 2024 (the first quarter increased by 7.52%, the second quarter increased by 8%, and the third quarter increased by 8.2%).

The representative of Hanoi City Statistics assessed that in the context of many difficulties in the world, regional and domestic economies , market demand has not recovered, industrial production has not accelerated strongly, GRDP growth in the first 9 months of this year is higher than the same period last year (6.33%) with an improving trend over each quarter, which is very important and noteworthy.

The highlight of the economic picture for the first 9 months of 2025 is that the total state budget revenue in the area is 499.9 trillion VND, reaching 97.3% of the annual ordinance estimate and increasing by 32.5% over the same period in 2024. Notably, the total retail sales of goods and consumer service revenue in the third quarter increased by 14% over the same period last year, with the cumulative 9 months reaching 702.2 trillion VND, up 12.9% over the same period last year.

In the third quarter of 2025, Hanoi will be the venue for a military parade to celebrate the 80th anniversary of the August Revolution and National Day on September 2, along with many large-scale cultural and artistic activities. This is an opportunity for people across the country and international tourists to come to Hanoi to join in the festive atmosphere, sightseeing and shopping, thereby contributing positively to the growth of the capital's trade and service sector.

Although the economy is affected by political instability and global trade policies, industrial production activities in the city still maintain positive growth momentum. The industrial production index (IIP) in the third quarter was higher than the previous quarter and higher than the same period in 2024. In the first 9 months, IIP increased by 6.7%, of which the processing and manufacturing industry increased by 6.9%, becoming a bright spot of the industry.

Hanoi is determined to effectively disburse public investment capital, creating a breakthrough momentum to ensure growth targets. Development investment capital in the first 9 months of this year increased by 10.7% compared to the same period last year. Investment capital implemented from the state budget managed by localities was the highest in the country, reaching 59.5 trillion VND, up 31.1%.

Thanks to the active improvement of the investment environment, in the past 9 months, the city attracted 3,897 million USD of FDI capital, 2.9 times higher than the same period in 2024. Hanoi continues to affirm its position as an attractive destination, a safe haven for international capital flows. Hanoi has granted certificates to 3,063 newly established enterprises, an increase of 58.7% over the same period last year; registered capital reached 31.8 trillion VND, an increase of 90.1%. In the past 9 months, the city has granted certificates to nearly 25,000 newly established enterprises with registered capital of 271.7 trillion VND, an increase of 10.5% in the number of enterprises and an increase of 30.8% in registered capital over the same period last year.

In the context of complex geopolitics, increasing trade conflicts, many countries applying non-tariff barriers and increasingly strict environmental standards, Hanoi's import and export activities still maintain strong growth momentum, affirming its role as one of the pillars of economic growth, contributing to macroeconomic stability. Total import and export turnover in the first 9 months of this year reached 50 billion USD, up 13.7%; of which exports increased by 12.1%, imports increased by 14.5%. In the past 9 months, tourists to Hanoi reached 5.5 million, up 22.1% over the same period last year...

Comprehensive and sustainable resilience

Expert Nguyen Quang Huy, Executive Director of the Faculty of Finance and Banking (Nguyen Trai University), said that Hanoi's economy in the past 9 months has shown a comprehensive and sustainable recovery. GRDP growth reached 7.92% with an upward trend every quarter, reflecting a momentum that is not short-term but gradually accumulated and increasingly widespread. Budget revenue has surpassed expectations, FDI attraction has increased nearly 3 times compared to the same period in 2024 and services and consumption have maintained strong growth momentum... All of these create a stable macro foundation and long-term prospects. Hanoi's economy has not only grown strongly in quantity, but more importantly, is shifting in quality. The combination of sustainable budget revenue, selective FDI, effective public investment disbursement and vibrant domestic consumption is creating a balanced, modern growth ecosystem with great potential for breakthroughs.

Sharing the same view, some other experts said that in the last months of the year, Hanoi needs to focus maximum resources, promote disbursement, and effectively implement public investment capital in 2025, especially important transport infrastructure projects, such as: Ring Road 4, metro line No. 2 (Nam Thang Long - Tran Hung Dao section), metro line No. 5 (Van Cao - Hoa Lac) and bridges across the Red River. Along with that, it is necessary to continue improving the investment and business environment, promoting administrative procedure reform associated with digital transformation, and improving the quality of online public services. The city also needs to focus on reviewing to promptly remove difficulties and support businesses through preferential policies on credit, tax reduction, land fees, trade promotion, etc.

Source: https://hanoimoi.vn/kinh-te-thu-do-9-thang-nam-2025-tang-truong-va-but-pha-718377.html