Urban economy to make up 85% of Hanoi’s GRDP by 2025
The People’s Committee of Hanoi has approved a project on urban economic development, under which the urban economy is hoped to make up 85% of the capital city’s gross regional domestic product (GRDP) by 2025, and 90% by 2030.
Hanoi (VNA) – The People’s Committee of Hanoi has approved a project on urban economic development, under wඣhich the urban economy is hoped to make up 85% of the capital city’s gross regional domestic product (GRDP) by 2025, and 90% by 2030.
The share of the digital economy in the city's GRDP will reach 30% by 2025 and 40% by 2030.
The city also expects that e-commerce sales will account for 10% of the total retail sales of consumer goods and services in the city by 2025, and 20% by 2030.
Consumers shop at a supermarket (Photo: VNA)
Although urban areas account for only over 10% of the city's area, they are holding an increasingly important position and role in the capital’s socio-economic growth and development.
The urban economy has also affirmed its role as a driving force for economic development, and the nucleus of promoting the transformation of the city's economic and labour structure.
In the 2016-2020 period, budget revenue in urban areas accounted for 78.8% of the total of the whole city./.
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In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
A corner of Hanoi (Photo: hanoimoi.com)
Consumers shop at a supermarket (Photo: VNA)
