Ha Noi seeks momentum for new development phase
VGP - The capital has expanded its economic scale, enhanced the quality of growth, and consolidated its position as one of the country’s key growth engines. Building on these foundations, Ha Noi is now transitioning toward a new growth model, seeking to unlock modern development drivers and create breakthroughs for its next stage of development.
Since the launch of the Doi Moi (Renewal) process, the city has experienced four decades of both extensive and intensive growth. A defining milestone came in 2008, when the National Assembly adopted Resolution No. 15/2008/QH12 to expand Ha Noi's administrative boundaries, significantly widening its development space. The city's area increased from 920.97 square kilometers to 3,348.5 square kilometers, with a population surpassing 8 million, creating a strong platform for socio-economic progress.
Between 2008 and 2013, Ha Noi recorded an average GRDP growth rate of 9.59 percent per year. Economic restructuring has since deepened, with all sectors contributing more actively. Total disbursed social investment has accounted for roughly a quarter of the national total, highlighting the capital's central role in mobilizing and effectively utilizing resources.
By 2020, the economic structure had shifted markedly, with services making up 55.5–56.6%, industry and construction 41–42 percent, and agriculture only 2–2.5 percent. Export turnover also grew steadily, rising by 14–15 percent annually in 2011–2015 and 13–14 percent in 2016–2020, reflecting stronger global integration.
In the 2021–2025 period, the city's GRDP is estimated to have grown by an average of 6.57 percent annually—around 1.1 times the national average—bringing the economy to approximately US$63 billion, or 12.6 percent of the national total. GRDP per capita reached about VND175 million (US$7,200). State budget revenues have consistently exceeded targets, contributing around 25 percent to the national total, while total disbursed social investment reached VND2.5 quadrillion, 1.5 times higher than in the previous period. Total factor productivity has contributed roughly 53 percent to overall growth.
Foreign direct investment remained a bright spot. Since 1986, Ha Noi attracted around US$71.7 billion in FDI, ranking second nationwide after Ho Chi Minh City. The capital is now home to more than 7,600 valid FDI projects from 117 countries and territories. During 2021–2025 alone, total registered FDI reached approximately US$11.3 billion, with more than half directed toward expanding existing projects—an indication of sustained investor confidence. Notably, FDI surged to US$4.44 billion in 2025, more than doubling year-on-year despite global uncertainties.
Infrastructure development has also been stepped up, with major transport projects accelerated, including ring roads, key interchanges, and bridges spanning the Red River. Urban rail systems, such as Cat Linh–Ha Dong and the elevated section of Nhon–Ha Noi Station, have been brought into operation.
These achievements reinforce Ha Noi's status as a national economic locomotive and a key growth pole in the northern region. Looking ahead, the city has set ambitious targets under the Resolution of its 18th Party Congress for the 2025–2030 term, aiming for annual GRDP growth of 11 percent or higher and per capita GRDP exceeding US$12,000.
To meet these goals, Ha Noi is shifting toward a knowledge-based, innovation-driven growth model, anchored in science and technology, digital transformation, and high-quality human resources. Emerging economic models—including the green, digital, circular, sharing, and night-time economies—will be further promoted.
A central priority will be the development of an innovation ecosystem centered on Hoa Lac Hi-Tech Park, alongside stronger linkages among universities, research institutions, businesses, and financial entities. The city also plans to advance digital infrastructure, smart governance, and a digital economy projected to contribute at least 40 percent of GRDP by 2030.
With these comprehensive efforts, Ha Noi is well positioned to sustain its economic leadership while transforming into a dynamic regional innovation hub in the near future./.
