Hanoi economic growth hits a six-year peak

Thứ Ba, 06/12/2016, 14:22

Despite failing to hit the yearly target of 8.5-9%, Hanoi’s economic growth in 2016 has hit its highest level in six years, reaching 8.03%, Deputy Chairman of the municipal People’s Committee Nguyen Doan Toan said on December 5.

The service sector grew by 8.1% while industry-construction and agriculture witnessed increases of 8.8% and 2.21%, respectively.

The statistics were presented at the third session of the 15th Hanoi People’s Council from December 5-8. According to Toan, over the past year, an unprecedented number of new enterprises had been established.

Foreign-invested capital on projects reached US$2.8 billion, increasing 2.6 times compared to last year. Total social investment was estimated at VND277.95 trillion (US$12.3 million), a rise of 10% over the previous year.

The city has finished or nearly finished key transport projects such as Ring Road No.2 running through Nhat Tan-Cau Giay, Ring Road No.1 through O Dong Mac-Nguyen Khoai, the Long Bien district centre project and accelerated railway projects.

In the report reviewing socio-economic tasks in 2016, Deputy Chairman Toan said that the process had various weaknesses, including difficulties of business and production, leading to closure of firms.

Industry growth speed has been slowing down. Pressing issues include pollution at industrial parks and traditional craft villages, fires, explosions and traffic accidents.

The session approved a resolution on 2017 socio-economic development plan. Gross Regional Domestic Product (GRDP) is hoped to reach 8.5 to 9%. GRDP per capita is targeted at 86 million VND to 88 million VND (3,820-3,900 USD). Export-import turnover is aimed at 4 to 5%.

Health insurance coverage is hoped to reach 82.8%. The plan also expects all households in urban areas to have water for daily use.

To fulfill these targets, the meeting agreed on tasks, including improving the business and investment climate as well as provincial competitiveness index. To tackle pollution, by 2020, 117 industrial production bases in 12 districts will be moved out of the inner city, Phan Hong Son, Director of the municipal Justice Department said.

Politburo member Hoang Trung Hai, Secretary of the municipal Party Committee, said that “The year of administrative discipline” has been selected as the main topic of the city’s work next year. It aims to beef up administrative order and strengthen the role of public servants in office, residency and public areas and spread the spirit to citizens to tighten social discipline.

During the four-day gathering, the council will discuss and approve 15 important resolutions related to socio-economics, defence and security, the city’s State budget spending in 2017, key projects and middle term public investment next year.

VNA