Capital strives for 7% GRDP growth rate in 2024
VGP - Ha Noi plans to achieve 6.5-7 percent of gross regional domestic growth (GRDP) in 2024, as the city expects a favorable global context to spur a strong economic rebound.
Delegates of the municipal People's Council, Ha Noi, December 5, 2023
The target was mentioned in a resolution on the 2024 socio-economic plan ratified by the municipal People's Council on December 5 in Ha Noi.
The resolution outlines 24 key development targets for next year.
Among key goals are GRDP per capita of VND160-VND162 million (US$6,591-$6,674); a 10.5-11.5 percent increase in realized investment capital; export growth of 4-5 percent; consumer price index growth below 4 percent, and a reduction in the number of poor households by 300-400.
The overall objective is to sustain growth while controlling inflation and maintaining economic fundamentals in the capital. This involves promoting positive changes through implementing breakthrough policies and restructuring the local economy, spearheaded by innovative growth models, enhanced productivity, improved quality, efficiency, competitiveness, and the internal strength of the capital's economy.
The city will focus on advancing administrative reform through digital transformation, refining and building a streamlined, effective apparatus, optimizing human resources, and restructuring the civil servants and public employees' teams.
"Efforts will continue to focus on enhancing the investment climate, addressing bottlenecks, and fostering production and business activities," noted the resolution.
It suggests that comprehensive and synchronized development in culture, education, and health should be prioritized, along with the promotion of infrastructure and digital technology, and the integration of science and technology in the construction of smart cities. Social security and welfare policies should be effectively implemented to enhance the material and spiritual well-being of the population.
The solutions include refining the effectiveness of land and resource management, emphasizing environmental protection, and proactively responding to climate change. Rigorous management and development of urban infrastructure under approved plans are also on the agenda.
Anti-corruption measures will be significantly intensified, with a focus on eradicating negativity and minimizing waste. The goal is to enhance the efficiency of foreign affairs and international integration, ensure national defense and local military strength, and maintain social order and security. Ongoing implementation of the five themes of "Discipline, responsibility, action, creativity, and development" remains a priority.
Vice Chairman of the Ha Noi People's Committee Le Hong Son
At a meeting held on the same day, Vice Chairman of the Ha Noi People's Committee Le Hong Son reported that the city had successfully maintained its GRDP growth pace, with this year's economic growth expected to be around 6.27 percent.
The socio-economic performance in 2023 successfully met 18 out of 23 planned targets.
Notably, three targets exceeded expectations: a greater reduction in the number of poor households compared to the previous year (reaching 34.4 percent against a planned target of 30 percent), a higher percentage of urban wastewater treated (30.9 percent compared to a planned target of 28.8 percent), and an increase in the number of public schools meeting national standards (130 newly accredited schools and 270 reaccredited schools, surpassing the planned targets of 81 and 50 schools, respectively). Budget revenue surpassed yearly estimates by 13.5 percent, reaching a total of VND400 trillion (US$16.47 billion).
“This revenue adequately covered development investment expenditure, regular expenditure, support for workers and employers, and social security spending,” Son said.
Meanwhile, exports and imports have declined due to disruptions in the global supply chain and lower demand in key markets.
The estimated export turnover for 2023 is US$17.30 billion, an increase of 1%, while imports are expected to reach US$44.17 billion, marking an 8% increase.
Double-digit growth was observed in trade and services, while agriculture showed steady growth, continuing to serve as a robust pillar of the economy. The consumer price index was well-controlled at 1.51%, markedly lower than the national level of 3.2 percent.
There were positive trends in social investment capital, foreign investment, and registered businesses. Social investment capital is expected to increase by 9 percent, slightly below the planned target of 10.5 percent.
In the first 10 months of the year, FDI capital attracted amounted to US$2.6 billion, representing a 2.04 times increase./.
