For the development of the Capital City

Amidst a complex and volatile global situation, with the International Monetary Fund (IMF) forecasting a decline in global economic growth from 3.3% to 2.8%, Hanoi seems to have bucked this trend. Its Gross Regional Domestic Product (GRDP) in the first six months of the year reached 7.63% (the national average is estimated at 7.52%), higher than the same period in 2024 (6.13%) and exceeding the projected target (7.59%). Following this upward trend, growth in each subsequent quarter was higher than the previous one; the major balances of the economy were ensured.

This is the result of the tireless efforts of the political system over the past period. With high political determination and consensus, the city has resolutely implemented comprehensive solutions, with a focus on creating a superior mechanism through the Capital City Law.

Accordingly, regulations on certain policies, contents, and levels of support for small and medium-sized enterprises; on attracting strategic investors; and regulations on certain policies, contents, and levels of support for small and medium-sized enterprises in the city for the period 2026-2030... (recently approved by the City People's Council at its twenty-fifth session) are promised to create new momentum, unleash development potential, and provide practical support for businesses and people.

In addition, city leaders have been proactive and flexible in their direction and management, promptly issuing action programs and plans such as: Action Program No. 04/CTr-UBND dated February 14, 2025, implementing tasks and solutions for socio -economic development and state budget estimates, improving the business environment, and enhancing national competitiveness in 2025, with 25 overall indicators for the 2025 socio-economic development plan, 97 key tasks and solutions for socio-economic development in 2025; and 95 specific tasks for various sectors and fields; and Action Program No. 06/CTr-UBND dated June 26, 2025, with 50 key tasks aimed at accelerating socio-economic development and improving the investment environment...

Simultaneously, the city has focused on promoting administrative reform, simplifying administrative procedures, shortening processing times, and reducing costs for businesses, citizens, and society as a whole.

In particular, the successful implementation of administrative unit mergers and the establishment of a two-tiered local government model in the city has created a new wave of confidence among the people in the country's development policies and guidelines. Inheriting the advantages of the old operating model, it simultaneously creates a new model to become a more complete version, serving the people.

Based on the indicators of the capital's economy, the projected Gross Domestic Product (GDP) for the third quarter of 2025 is 8.18% and for the fourth quarter of 2025 is 8.53%, ensuring the achievement of the 8% growth target for the whole year. This is a positive sign to boost the confidence of the business community and encourage investment in the city's economy. Therefore, the entire political system needs to continue fostering this political confidence.

In reality, Hanoi is a highly attractive location for investors, so this advantage needs to be further leveraged through the most practical solutions, both in terms of policy and political confidence. Departments and agencies need to advise the city on creating superior mechanisms for the business community. Existing and newly established policies need to be quickly implemented to create momentum and attract foreign investors. The goal is to gradually create an ecosystem that encourages private enterprises and small and medium-sized enterprises to boldly take larger and more stable strides in the economy.

Furthermore, city authorities need to be determined to eradicate counterfeit, fake, and substandard goods that are negatively impacting consumer confidence. This is not only about addressing violations that affect economic development, but more importantly, about protecting legitimate businesses, building a solid production foundation, and preventing consumers from turning their backs on Vietnamese products.

Mobilizing the people's strength to strengthen the economy is a key solution. Therefore, relevant agencies and all levels of government need to put the people and businesses at the center of their service. When businesses and people feel understood and supported, they will unite, work together, and strive towards the goal of developing the capital city.

Source: https://hanoimoi.vn/vi-muc-tieu-phat-trien-cua-thu-do-708745.html