On November 26, at the 28th session of the Hanoi People's Council, Standing Member of the Hanoi Party Committee and Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu reported that city budget revenue in 2025 reached VND641.71 trillion (US$24.3 billion).

The figure has surpassed the full-year estimate and marked the first time Hanoi exceeded the VND600-trillion ($22.7 billion) threshold.

He said Hanoi's socio-economic performance in 2025 continued its recovery momentum. The city achieved 23 of 24 targets, with GRDP estimated at 8.5%, worth about $63.5 billion and accounting for 12.5% of national GDP.

Local budget expenditure reached VND105.7 trillion ($4 billion) by October 31, 2025, 40% higher than the same period last year. Development investment increased 42.7% and regular spending rose 37.7%.

For the full year, total spending is projected to reach VND166.2 trillion ($6.3 billion), meeting the annual plan.

Exports were estimated at $20.65 billion and imports at $47.12 billion. The average CPI is expected to stay between 3.6 and 4.1%. Total social investment reached VND594.7 trillion ($22.5 billion) and FDI attraction hit $4.1 billion, up 52% on-year.

Hanoi recorded about 32,400 newly established enterprises in 2025, bringing the city's active total to more than 424,000 businesses.

Cultural and social activities marking the 80th anniversary of the August Revolution and National Day generated positive public response. Education quality remained high with a 99.75% high-school graduation rate. Health-insurance coverage reached 95.95%, exceeding targets.

Public-investment disbursement was strongly directed, reaching VND53.9 trillion ($2 billion) by November 26, or 64.4% of the Prime Minister's target. Numerous infrastructure, transport and cultural projects were inaugurated or launched during the year.

Vice Chairman of the Hanoi People's Committee Nguyen Xuan Luu said digital transformation remained a major highlight. Hanoi ranked first nationwide in 18 of 52 innovation indicators and many administrative procedures, especially in public investment, were streamlined to shorten processing time.

In urban development, Hanoi launched major projects, from commemorative works to transport infrastructure. The city is preparing to begin eight more projects in December 2025. Efforts to address obstacles in old-apartment renovation and expand public lighting also advanced.

Despite positive results, one target remained unmet: total social investment, due to delays in several land-related projects.

Coordinating solutions to improve residents' quality of life

Looking to 2026, Luu said Hanoi aims for 11% GRDP growth, with services up 11.1%, industry up 9.5%, construction up 12.8% and agriculture up 4.3%. Total social investment is projected at VND730 trillion ($27.7 billion).

Major projects planned include the VND350-trillion ($13.3 billion) Olympic Urban Area, the VND338-trillion ($12.8 billion) Red River Landscape Axis, Tran Hung Dao Bridge and the Gia Binh Airport Road under the PPP model, as well as continued implementation of Ring Road No. 4.

With services making up 66% of GRDP, Hanoi will focus on trade, tourism, finance and banking, building a national e-commerce platform and integrating modern payment, logistics and traceability systems.

The city will improve institutions, strengthen decentralization and prepare amendments to key planning documents and the Capital Law.

Strategic development areas include the Red River, West Lake–Co Loa, Nhat Tan–Noi Bai, the southern corridor and West Lake–Ba Vi.

The private sector remains a major pillar, with plans to build strong domestic corporations and help household businesses transition into enterprises.

Hanoi will develop science-and-technology infrastructure, build innovation parks, promote digital transformation and expand the digital, green, gaming and intellectual-property economies. The city will also study sandbox mechanisms and develop a data market.

In social welfare, Hanoi will implement electronic health records, digital medical files and remote consultations, while modernizing job-placement platforms and enhancing workforce quality. The city aims to maintain strong poverty-reduction efforts for 2026–2030.

Hanoi will continue investing in transport, metro lines, river bridges, lighting and greenery. In 2026, it will prioritize tackling five major issues: traffic congestion, flooding, environmental pollution, food safety and urban order.

The city will accelerate land-resource development, especially around Ring Road No. 4 and TOD zones and raise the proportion of days with good or average air quality to above 80%.

Vice Chairman Luu affirmed Hanoi's determination to maintain unity, decisive action and strong momentum to achieve 2025 goals and create a foundation for breakthroughs in 2026.

He said the city is committed to building a modern, civilized, fast-growing and sustainable capital worthy of its national role.