Ha Noi raises GRDP growth target to 8% in 2025

Other key economic targets for 2025 include a GRDP per capita of US$6,880, a 7 percent increase in export turnover, and consumer price index (CPI) growth below 5 percent, among others.

Prior to the adoption of the resolution, Standing Vice Chairwoman of the Ha Noi People's Council Phung Thi Hong Ha stated that raising the 2025 economic growth target from 6.5 percent to at least 8 percent reflects the city's determination to spearhead the country's development efforts.

Ha suggested key measures to achieve this goal, including decentralizing administrative authority, reforming administrative procedures, ensuring the timely implementation of unique policies under the amended Capital Law, and developing plans for the Ha Noi Capital Planning period 2021-2030, with a vision to 2050, and the General Ha Noi Capital Planning to 2045, with a vision to 2065.

According to Ha, the city is committed to streamlining its organizational structure to be more efficient while ensuring that the reforms do not disrupt residents or business operations.

"Ha Noi will maximize administrative decentralization in all sectors, maintain consistent leadership, and increase accountability among officials while encouraging innovation among government employees," she noted.

To further stimulate economic growth, Ha Noi will simplify administrative procedures, reducing time and costs for businesses. The city will remove barriers to production, business activities, and project implementation in both the public and private sectors, especially in areas requiring frequent administrative transactions, such as justice, land, construction, labor, social security, and taxation.

The People's Council also endorsed efforts to maximize traditional growth drivers while unlocking new investment resources. A key goal is to optimize public investment by ensuring clear timelines for project implementation and disbursement, with a target disbursement rate of over 95 percent of the 2025 public investment plan.

Ha Noi is also prioritizing the acceleration of major infrastructure projects, including the West Ha Noi drainage system, the Tay Thang Long road from Pham Van Dong Street to Van Tien Dung Street in Bac Tu Liem District, and Phase 1 of the Ring Road 4 project.

The city is encouraging private investment in key industries by continuing administrative simplification, regularly hosting business forums to address challenges, and supporting companies in expanding operations.

A list of priority investment projects is under consideration, particularly in high-tech, environmentally friendly industries, including semiconductor chips, artificial intelligence, energy transition, electronics, automotive manufacturing, and biotechnology. Ha Noi seeks to attract US$3 billion in registered foreign direct investment (FDI).

To support industrial growth, the city will accelerate the development of industrial clusters, complete 25 clusters under construction with an initial occupancy rate of 25 percent, and launch 18 new industrial clusters and one new industrial zone. It will also expand 15-20 existing clusters. A key focus is ensuring sufficient electricity supply for industrial zones, the Hoa Lac High-Tech Park, and urban and production areas./.