Hanoi (VNA) - National Assembly (NA) ChairwomanNguyen Thi Kim Ngan has praised the efforts and determination of Hanoi in regardto economic development, with its GDP expanding 3.39 percent in the first halfof 2020, higher than Vietnam’s average of 1.81 percent.

Addressing the opening of the 15th meetingof the Hanoi People’s Council on July 6, the NA leader said the success of an investmentpromotion conference in the city in late June affirmed its pioneering role ineconomic recovery and development now that the COVID-19 pandemic has been controlled.

Along with the Capital Law and Resolution No 97 issuedon November 27, 2019 on the pilot implementation of the urban government modelin Hanoi, the NA approved a resolution on a number of specific finance-budgetpolicies and mechanisms for the capital during the 9th NA session,which allows it to apply on a pilot basis several policies and mechanisms inState budget collection and spending, outstanding loans, and finance reservefund use.

The NA leader advised the city to make full use of thespecfic finance-budget policies and mechanisms in NA Resolution No 115, whichwill take effect from August 15, and therefore make faster and more sustainabledevelopment while contributing more to the country’s overall growth.

The NA leader underscored the significance ofenhancing the role and responsibility of the People’s Council in makingdecisions on important issues for the city, especially those relating tofinance and budget.

According to the Chairwoman of the Hanoi People’sCouncil Nguyen Thi Bich Ngoc, in the early months of 2020 the city facedextreme difficulties from the COVID-19 pandemic, which badly damaged socio-economicactivities around the globe and in Vietnam.

The city applied various measures to prevent and fightthe pandemic as well as solutions to support economic activities and guarantee socialsecurity, she said.

The city’s economy slumped in April but then recoveredin May before expanding strongly in June. The sharpest growth was seen in thefield of industry-construction, at about 6 percent. Budget collection in thefirst half was estimated at 143.47 trillion VND, up 11 percent against the sameperiod last year.

At the same time, administrative reform has beenpromoted via the application of IT, while the investment and business environmenthas improved and enterprises and investors have been supported to overcome thisdifficult period.

Attendees at the meeting pointed to eight limitations facingthe city, including increased unemployment and low satisfaction among localpeople about public services.

Secretary of the Hanoi Party Committee Vuong Dinh Hueunderlined that, with strong determination, the city will not adjust its socio-economicdevelopment targets for 2020. It has built growth scenarios for the remainder ofthe year and 2020 as a whole. The city anticipates 5.9 percent growth for theyear in one scenario and 5.4 percent in the other./.