Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc speaks online at the Ho Chi Minh City People's Committee bridge. Photo: VGP/Nhat Bac
Speaking at the meeting, Chairman of Hanoi People's Committee Nguyen Sy Thanh said that in the first 6 months of 2025, the city's GRDP is estimated to increase by 7.63% over the same period last year, higher than the construction scenario at the beginning of the year (scenario 7.59%) and the highest in the past 3 years (GRDP in the first 6 months of 2024 and 2023 increased by 6% and 5.97% respectively).
In the first half of this year, the service sector played a pivotal role in Hanoi's economy with growth reaching 8.42%, contributing 5.76 percentage points to the overall GRDP growth.
In the first 6 months, the city attracted about 3.68 billion USD of FDI capital, 2.2 times higher than the same period in 2024. Of which, 192 newly registered projects with capital reaching 237.5 million USD; 89 projects increased capital with about 3.14 billion USD; 173 foreign investors contributed capital and bought shares reaching 296.5 million USD.
Total retail sales of goods and consumer services revenue in the first 6 months reached VND455,200 billion, up 12.1% over the same period last year.
The City's total state budget revenue in the first 6 months is estimated at VND 392,100 billion, equal to 76.3% of the annual ordinance estimate and an increase of 51.4% over the same period in 2024.
Regarding some key projects in the area, the Ring Road 4 project - Capital Region is gradually taking shape, disbursing 17.3% of the capital plan; the Ring Road 1 project, Hoang Cau - Voi Phuc section (phase 1) has disbursed 51.4% of the capital plan; the project to renovate and upgrade National Highway 6, Ba La - Xuan Mai section has disbursed 21% of the capital plan; the Thang Long Highway project, the section connecting National Highway 21 to Hanoi - Hoa Binh Expressway has disbursed 31.7% of the capital plan.
The Chairman of Hanoi City said that with the above results, the City is committed to striving with the Government to achieve an 8% growth rate in 2025 as planned.
However, the City Chairman said that currently, the issue of service land in Hanoi is facing many difficulties, mainly revolving around the delay in land allocation, shortcomings in policies and the situation of abandoned service land. Therefore, the City recommends that the Ministry of Agriculture and Environment consider and provide guidance to remove difficulties and obstacles, especially in completing land allocation procedures and resolving the situation of abandoned land. Or ask the Prime Minister to authorize the City to resolve this issue.
As the key economic center of the country, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that in the first 6 months of the year, industrial production and commercial activities in the city both grew. Accordingly, the total retail sales of goods in the first 6 months of the city are estimated at 304,369 billion VND, an increase of 13.8% over the same period in 2024.
The city's import and export activities continue to record positive growth signals; the total import and export turnover of the city's enterprises is estimated at 56.5 billion USD, an increase of 13.3% over the same period in 2024. Of which, export turnover is estimated at 31.6 billion USD, an increase of 13.3% (same period increased by 13.1%), import turnover is estimated at 24.9 billion USD, an increase of 13.2% over 2024 (same period increased by 4.6%).
Regarding the total state budget revenue in the area, the City reached 321,892 billion VND, equal to 61.89% of the estimate, up 20.38% over the same period. Of which, domestic revenue reached more than 256,779 billion VND (up 24.42%), revenue from import and export was more than 65,020 billion VND (up 6.58%).
Notably, the city has allocated in detail 100% of the 2025 public investment capital plan assigned by the Prime Minister, both central and local budget capital (totaling more than VND 85,000 billion), which clearly demonstrates the determination to speed up the progress of key infrastructure projects.
The city has also cut 10% of regular expenditure (excluding salaries and salary-based expenses) to create a source for salary reform, with an amount of up to 1,417 billion VND. Agencies and units have built internal spending regulations towards thrift, limiting formal meetings and wasting time.
In general, budget capital in total social investment has been used to invest in infrastructure, economic, technical and social development, contributing to promoting economic growth.
Regarding the solutions implemented by the Government to achieve 8% growth, the Chairman of the Ho Chi Minh City People's Committee said that the City is focusing on removing obstacles, clearing blocked projects, creating confidence for investors, in order to promote economic growth. One of the main solutions is to review and resolve backlog projects, to free up resources.
In addition, Binh Duong and Ba Ria - Vung Tau provinces have merged into Ho Chi Minh City, so the settlement of non-territorial records is still problematic. The reason is due to changes in boundaries, management systems and working procedures, leading to inconsistencies and unfamiliarity in the process of processing records. Therefore, the City strives to resolve this issue by the end of 2025.
Vinh Hoang
Source: https://baochinhphu.vn/no-luc-cung-chinh-phu-dua-nen-kinh-te-dat-tang-truong-8-102250703180219939.htm
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