Hanoi seeks to improve role of manufacturing, processing
The processing and manufacturing industry holds an important position in Hanoi's economic structure. Therefore, the municipal authorities have paid due attention to the development and expansion of this sector to create growth momentum for its gross regional domestic product (GRDP).
Hanoi (VNA) - The processing and manufacturing industry holds an important🌸 position in Hanoi's economic structure. Therefore, the municipal authorities have paid due attention to the development and expansion of this sector to create growth momentum for 🅠its gross regional domestic product (GRDP).
In the first nine months of this year, the city's index of industrial production grew by 2.6% compared to the same period last year, driven by manufacturing and processing up 2%; electricity production and distribution up 7.3%; water supply and wastewater and waste treatment up 6.1%. Meanwhile, mining went down 2%.
Remarkable hikes were seen in beverage production, machinery repair and maintenance, drug and medicinal material production, wood processing and wood product manufacturing, and food production and processing.
According to analysts, international experiences show that the processing and manufacturing industry is key to the path to development in order to create prosperity for each country.
Therefore, to promote the development of this sector, the municipal authorities need to focus on building and enhancing the capacity of industrial enterprises; developing strong firms, supply chains and value chains in the country; creating an open and favourable business and investment environment; and effectively developing service industries serving production to contribute to improving productivity and operational efficiency of the processing and manufacturing sector.
Nguyen Manh Quyen, Vice Chairman of the municipal People's Committee, said that Hanoi is focusing on developing infrastructure, including transportation infrastructure with ring roads and metro lines to connect traffic with the inner area. In addition, the capital city has developed 25 industrial parks, of which 10 are operating. For the remaining 15, investment orientations, infrastructure development, and supporting systems are being implemented to attract investment.
Hanoi is striving to complete the goal of industrialization and modernization, become a city with modern industry, and raise the proportion of processing and manufacturing to over 90% in its industrial structure by 2030./.
Prime Minister Pham Minh Chinh has required utmost efforts to fulfil to the highest possible level the targets and tasks for 2023 while chairing the regular Government meeting for September and an online meeting between the Cabinet and localities on September 30.
Hanoi’s Industrial Production Index (IIP) in September rose by 0.7% from the previous month and 3.5% year-on-year, the Hanoi Statistical Office reported.
Over the medium-term outlook for the next five years, a number of key drivers are expected to continue to make Vietnam one of the fastest growing emerging markets in the Asian region, said an article published by the S&P Global Market Intelligence on October 5.
Vietnam’s economy has passed its trough, staging a modest recovery with stronger-than-expected growth of 5.3% in the third quarter, but upside risks to inflation have resurfaced, prompting the upgrade of 2023 average inflation forecast to 3.4%, said the HSBC.
According to the State Bank of Vietnam (SBV), in the interbank market, the trend of decreasing overnight interest rates has continued, starting at 3.13% in the first session of last week and gradually decreasing over the sessions to 1.67% at the last session of the week. In total, overnight interest rates decreased by 1.46 percentage points within one week.
Huynh Tan Khanh, Secretary of the Party Committee of Ganh Hao, noted that the town strictly follows anti-IUU fishing directives and has partnered with local agencies to organise six awareness campaigns attended by nearly 500 fishermen. Some 130 boat owners and captains have also signed commitments to follow legal requirements and avoid entering foreign waters.
ChatGPT is not yet a threat to the real estate market as it can handle information quickly and effectively, but it’s here to support, not replace, human advisors.
As Vietnam moves forward, ESG, innovation and digital transformation will change the way businesses grow and how they are evaluated. This journey can’t rely on policy alone. It needs strong leadership, the right technology and, most importantly, skilled people who are ready to build a greener, more competitive economy.
Prime Minister Pham Minh Chinh affirmed that science, technology, innovation, digital transformation, green transition, and circular economy are offering limitless opportunities for bilateral collaboration.
The US remained Vietnam’s largest market, accounting for 55% of the country's total wood exports. Key products include wooden furniture, plywood, doors, and handicrafts.
With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
As Vietnam’s largest private carrier, Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years.
The Vietnam National Petroluem Group (Petrolimex) had acted early to mitigate risks amidst the recent surge in global oil prices driven by the Israel–Iran conflict, Vietnam News Agency cited a Petrolimex representative as saying.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Illustrative image (Photo: VNA)
