Implementing Program No. 02-CTr/TU, term 2020-2025: Affirming the leading spirit, accelerating, breaking through, realizing the aspiration for double-digit growth

Growth is not just about numbers, but must be about quality, efficiency, sustainability, led by technology, innovation and deep international integration.

This is the way for Hanoi to maintain its leading position, while affirming its competitiveness with leading cities in the region and the world. With high political determination, strong development aspirations and the consensus of the people, these solutions will be the "big wind" to help Hanoi break through, firmly entering a new stage of development - faster, greener and more sustainable.

Product packaging line at AIC International Milk Company (Suoi Hai commune). *Photo: Nguyen Quang*

Strive for double-digit GRDP growth in the next 5 years

Member of the Party Central Committee, Deputy Secretary of the City Party Committee, Chairman of the Hanoi People's Committee Tran Sy Thanh said that in the coming period, the city will determine growth based on quality, efficiency and sustainability, instead of just relying on scale. The traditional growth model will be shifted to a growth model based on technology, innovation and deep international integration. With the advantage of specific policies and new plans approved by the Prime Minister, Hanoi will pioneer modern economic trends, such as green economy, circular economy, digital economy, urban economy, sharing economy, creative economy, artificial intelligence... With that perspective, the city continues to focus on promoting comprehensive digital transformation; enhancing innovation and research and development; promoting international integration and developing high-quality human resources. In particular, the city will strongly implement the Capital Law 2024 to soon realize specific and outstanding policies.

In the draft Political Report of the 17th Party Committee of the City presented to the 18th Hanoi Party Congress, one of the key tasks is to promote rapid and sustainable growth; determined to implement solutions to accelerate and make breakthroughs to strive for a Gross Regional Domestic Product (GRDP) growth rate of 11% or more in the 2026-2030 period. The important solution is to establish a modern urban growth model, creating a knowledge-based, creative and high value-added economy. Hanoi establishes a new economic identity based on knowledge, technology and innovation, improving productivity, efficiency and competitiveness, developing creative industries, fintech, smart logistics, healthcare, high-quality education and cultural tourism to become key growth drivers.

The city also researches and tests new economic models, in which the night-time economy is determined not only as a commercial activity, but also as an important part of the diverse cultural and consumer structure of the city; developing a circular economy and a green economy. Key areas are invested to attract talent, building Hanoi into a nucleus to create a common regional ecosystem, with an open, smart and harmonious ecosystem space.

The private economy is considered the most important driving force, along with the state economy playing a core role. The city encourages the formation of large-scale enterprises with international competitiveness. At the same time, it will promote the attraction of foreign direct investment (FDI) in the 2026-2030 period, with priority given to high-tech industries and fields that create great added value. FDI attraction will be associated with the goal of sustainable development, towards a green and low-emission economy...

Notably, the city restructures its economy in line with the advantages and characteristics of the capital; restructures the industry, develops in depth, modernizes, improves productivity, added value and competitiveness. The city strives to have the proportion of digital economy in GRDP reach 40% by 2030; the contribution of total factor productivity (TFP) to average growth is 57%; Hanoi's industry has modern, highly specialized processing and manufacturing industries/products, which are the center and driving force for growth and industrial development of the region and the whole country; Hanoi is in the leading group of the country in science development, technology transfer and application of high technology in industry.

Economic experts give advice

Regarding the target of double-digit economic growth in the coming time, experts suggested many important solutions for the city to achieve this goal.

Head of the Economic Research Department (Hanoi Institute for Socio-Economic Development Research) Nguyen Ngoc Tiep proposed that the city needs to make more breakthroughs in renewing the growth model towards improving productivity, quality and efficiency.

“To accelerate to achieve the highest growth target in 2025 and double-digit growth in the coming period, Hanoi needs to urgently remove the “bottlenecks” that are bottlenecks to growth, such as urban infrastructure and regional connectivity; improve growth quality, build a synchronous innovation ecosystem, urban environment... At the same time, the city needs to continue to promote its strengths and make good use of the opportunities brought about by the 4.0 Industrial Revolution and international integration,” said Dr. Nguyen Ngoc Tiep.

Associate Professor Dr. Tran Dinh Thien - Member of the Prime Minister's Policy Advisory Council, former Director of the Vietnam Economic Institute, suggested that the new growth model for Hanoi must meet two needs: double-digit growth, at least 10% and growth not only in speed, but also in quality. This model must also ensure a new approach that Hanoi competes globally, competing with first-class cities. The targets set are "digital, green and cultural", while ensuring that the driving force for development must be completely new. That is, shifting to developing high-tech science and cultural industries; private enterprises are the most important driving force.

“With the advantages of being the political, economic, cultural and educational center of the country, to achieve double-digit growth, Hanoi should focus on promoting human advantages by creating more opportunities, having more policies and a favorable environment for people to maximize their intellectual capacity, contributing to the development of the capital; at the same time, taking advantage of unique cultural and historical resources to create products and services with high added value, attracting investment and tourists. In addition, the city needs to exploit and promote other key factors such as institutional innovation, science and technology development, digital economy and ensuring stable energy sources to promote sustainable growth,” Associate Professor, Dr. Tran Dinh Thien proposed.

Phan Duc Hieu, member of the National Assembly's Economic and Financial Committee, said that Hanoi has advantages in operating this new model because it has qualified staff. This is both an advantage and a potential for Hanoi. In addition, the rate of Hanoi people performing administrative procedures online is high compared to other localities. Therefore, Hanoi needs to take advantage and promote it to accelerate the digital economy.

According to this expert, Hanoi has many advantages in terms of growth potential, in which Hanoi's environment is quite favorable. However, the city's apparatus is not yet operating at full capacity. Therefore, Hanoi needs to clear bottlenecks and fully exploit all potentials. Along with that, Hanoi promotes digital transformation, especially with administrative procedures, considering this the number one goal to facilitate people and businesses. Public services need to be served in the most convenient way. As long as administrative procedures and business services meet good standards, Hanoi's growth rate will reach a high level, leading to other results and other areas changing in a better direction. "With the current organization of local government, Hanoi has clearly identified the existing weaknesses and opportunities and proposed solutions. The city needs to be determined to implement. The room for the city to make a breakthrough is very large," said expert Phan Duc Hieu.

Source: https://hanoimoi.vn/thuc-hien-chuong-trinh-so-02-ctr-tu-nhiem-ky-2020-2025-khang-dinh-ban-linh-dau-tau-tang-toc-but-pha-hien-thuc-hoa-khat-vong-tang-truong-hai-con-so-bai-cuoi-doi-moi-sang-tao-chia-khoa-de-ha-noi-phat-trien-nhanh-ben-vung-718232.html