In 2020, the municipal Department of Industry and Trade has been strictly following the instruction of the government and city’s leaders in realizing the dual target of both containing the pandemic and boosting economic recovery.
As such, the added value in the industry - construction sector in 2020 rose by 6.39% year-on-year and contributed 1.43 percentage points to the overall economic growth of 3.98% of the city.
The industrial production index (IIP) of Hanoi in 2020 expanded by 4.7% year-on-year, in which manufacturing and processing grew by 4.6%; electricity production and distribution with 6.1%; water supply, sewage treatment and waste water collection with 5.4%.
Meanwhile, the added value of the services sector expanded by 3.29%, contributing 2.1 percentage points to the overall growth. Total goods retail sales and services revenue hit VND584.7 trillion, up 2.7% year-on-year.
Overall, the added value of industrial production and wholesale, retail activities contributed 1.5 percentage points to the overall growth, or 38% of the total.
In 2020, Hanoi exported goods worth nearly US$16 billion, up 1.8% year-on-year.
The municipal Department of Industry and Trade has also been focusing on upgrading the trade and industrial infrastructure, in which 25 new industrial parks have been built, up 1.4 times against the 2018-19 period; developing 25 new convenience stores, 98 foreign-invested retail shops; and 1,215 wholesale and retail firms.
Administrative reform has also been a priority of the department with 100% of administrative reform have been provided at the online stage 4; 34 administrative procedures were simplified and save VND2.4 billion for the state budget.
In 2021, the municipal Department targets the expansion rate of the added value in industrial production at 9%, 1.8 times higher than in 2020; export growth of 5%, 2.8 times higher than in 2020; and revenue from retail sales and services by 7 - 8%; among others.
Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen highlighted the efforts of the municipal Department of Industry and Trade in 2020, saying the year of 2021 marks an important milestone as the first year implementing the 5-year socio-economic development plan (2021-25).
Quyen expected the Department to continue excelling in regulatory works in trade, including attracting foreign investment capital and addressing issues related to industrial and trade infrastructure projects.