Hanoi's GRDP expands 3.39% in H1 (08:32 01/07/2020)


HNP - At the 24th session of the Hanoi Party Committee’s Executive Board on June 30, Vice Chairman of the municipal People’s Committee Nguyen Doan Toan presented a report on socio-economic development achievements in the first six months as well as major missions for the remaining months of 2020.


Vice Chairman of the Hanoi People’s Committee Nguyen Doan Toan gives a report at the session.


Hanoi's gross regional domestic product (GRDP) in the first six months of 2020 rose 3.39% 
 
According to the report, despite negative impacts of the COVID-19 pandemic, Hanoi still achieved a GRDP growth of 3.39% in the first six months of the year. Total State budged revenue was estimated at VND113.6 trillion (US$4.8 billion), meeting 40.8% of this year’s expected volume. 
 
In the January - June period, export revenue was estimated at US$6.53 billion, falling 9.8% over the same period in 2019, and import value was US$13.43 billion, dropping 11.1% compared to the same period last year. Total social investment was estimated at VND152 trillion (US$6.5 billion), posting a year on year increase of 5.8%. 
 
Hanoi has strictly realized the call made by the Party General Secretary and President as well as instructions by the Politburo, the PCC’s Secretariat, the Government, ministries and ministerial-agencies, and the Hanoi Party Committee while mobilizing the participation of the whole political system and the society in combating COVID-19. So far, 114 cases of COVID-19 infection have been discharged from the hospital. Hanoi has gone through more than 60 consecutive days without a community - acquired infection. The pandemic has been basically put under control in the capital city. 
 
Over the past months, the city has made positive changes in urban management and development, planning, housing, urban infrastructure development, among others. 
 
Due attention has been paid to socio-cultural development. The application of information technology (IT) has been enhanced across all spheres. In addition, strong measures have been implemented so as to combat the novel coronavirus in parallel with economic development in new situation.
 
Notably, the municipal authorities have fully implemented the Government’s policy to support those hit by the pandemic. To date, as many as 385,432 people have received the financial aid worth VND474 billion.
 
Rolling out measures for economic recovery and development in the post-COVID-19 period.
 
Due to the complicated situation of coronavirus disease in the region and the world, Hanoi outlined two growth scenarios for the remaining months of 2020. 
 
In the first scenario, if the city achieves a growth rate of 7.8% in the third quarter and 8.4% in the last quarter of the year, it could gain growth of 5.9% in 2020. Hanoi expects a growth rate of 5.4% in case the city’s economy expands 6.9% in the third quarter and 7.4% in the fourth quarter of the year.
 
Based on the scenarios, Hanoi will focus on removing difficulties for local businesses as well as investors, accelerating the implementation of large-scale projects, taking action to improve investment and trade environment and improve its Provincial Competitiveness Index (PCI). 
 
The city will also continue strengthening administrative reforms, increasing budget revenue, speeding up disbursement of investment capital, improving the efficiency of land use, boosting socio-cultural development, ensuring social security, among others. 

By Tran Huong


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