Hanoi eyes 7% GRDP growth in 2023

Hanoi aims to maintain macroeconomic stability and control inflation while promoting new growth drivers and enhancing its economic resilience.

Hanoi has set a target of 7% year-on-year gross regional domestic product (GRDP) growth by 2023 as part of its action plan for socio-economic development this year.

Production at Sunhouse Group in Ngoc Liep Industrial Park, Quoc Oai District. Photo: Thanh Hai

This plan includes 22 objectives, such as a GRDP per capita of VND150 million (US$6,400), export growth of 6%, an inflation rate below 4.5%, and a 30% reduction in poverty.

The global situation is expected to remain challenging in 2023, and Hanoi aims to maintain macroeconomic stability and control inflation while promoting new growth drivers and enhancing its economic resilience.

The plan also emphasized the development of cultural and education fields, disease control, and improving people's material and spiritual well-being, as well as promoting digital infrastructure, environmental protection, and good governance.

This would include the efforts to ensure efficient use of land and resources, environmental protection and proactively addressing climate change while improving urban planning to support infrastructure development.

In addition, the plan stressed the importance of continuing administrative reform and tightening disciplines in public agencies in carrying out public works, especially public investment plans for 2023 and the 2021-2025 period.

This year, Hanoi would push for the construction of new schools at national standards, improve the public health capacity and preserve the cultural-historical heritage sites.

Hanoi's authorities will make greater efforts in building a digital government, eliminate waste and corruption, and maintain national security.

The city’s long-term goals include completing its planning and construction plans by 2050, implementing the ring road No.4 project, and streamlining the state apparatus.

In 2022, Hanoi successfully achieved all 22 socio-economic objectives, including a GRDP growth of 8.89% and a GRDP per capita of VND141.8 million ($6,037).