Ha Noi accelerates key growth drivers in upcoming months
VGP - Deputy Secretary of the Ha Noi Party Committee and Chairman of the Ha Noi People’s Committee Vu Dai Thang on Friday chaired the municipal regular meeting for September.
Deputy Secretary of the Ha Noi Party Committee and Chairman of the Ha Noi People’s Committee Vu Dai Thang chairs the municipal regular meeting for September, September 4, 2026 - Photo: VGP
The meeting was attended by Standing Vice Chairman of the Ha Noi People's Committee Duong Duc Tuan; Vice Chairmen Nguyen Xuan Lưu and Do Anh Tuan; Vice Chairwoman of the Ha Noi People's Council Pham Thi Thanh Mai; and Vice Chairwoman of the Ha Noi People's Committee Vu Thu Ha.
Director of the Department of Finance Nguyen Ngoc Tu emphasized that services continued to be the primary driver of growth.
In the first eight months of the year, total retail sales of goods and consumer service revenue reached VND 708.2 trillion (US$27.24 billion), up 14.9 percent year on year. Retail sales increased by 17.1 percent, accommodation and catering services 14.4 percent, and travel services 13.8 percent.
A particularly notable result was budget revenue. As of August 31, Ha Noi's total State budget revenue reached VND 529.377 trillion (US$20.36 billion), equivalent to 81.4 percent of the annual estimate and up 10.6 percent year on year.
Domestic revenue stood at VND 495.658 trillion (US$19.1 billion), fulfilling 81.3 percent of the estimate and increasing 9.3 percent.
Public investment disbursement also recorded positive progress during the first eight months of 2026. As of August 31, Ha Noi had disbursed VND 92.592 trillion (US$3.56 billion), equivalent to 77.17 percent of the plan assigned by the Prime Minister and 56.10 percent of the city's plan, excluding the 5 percent savings component.
To achieve its target of annual GRDP growth of at least 11 percent, Ha Noi's GRDP will need to grow by 13.44 percent in the second half of the year, including 12.54 percent in the third quarter and 14.26 percent in the fourth quarter.
The capital city has identified public investment and construction as direct growth drivers for the final four months of the year. Meanwhile, consumption, trade, services, transport and tourism still offer considerable room for further expansion. The city will therefore focus on stimulating consumer demand, developing the night-time economy and promoting e-commerce./.
