Business

Hanoi economy expands 5.5% in Q1

Hanoi’s economy continues its growth momentum in the first quarter of 2024, thanks to its activeness and flexibility in implementing socio-economic development measures, according to the municipal People’s Committee.
Hanoi economy expands 5.5% in Q1 ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Hanoi’s economycontinues its growth momentum in the first quarter of 2024, thanks to itsactiveness and flexibility in implementing socio-economic development measures,according to the municipal People’s Committee.

The committee said that the capital city’sgross regional domestic product (GRDP) grows by 5.5% in the first quarter, inwhich services expand by 5.84%, industry and construction by 4.77% and agro-fishery-forestryby 3.76%, and product tax by 4.94%.

Budget collection reaches 146.8 trillionVND (5.87 billion USD) in the period, equal to 36% of the yearly estimates, andup 3.9% against the same period last year.

Local budget expenditure is 31.59 trillionVND, or 14.7% of the estimates, of which 9.5 trillion VND is for developmentinvestment.

In January-March, the capital’s exportturnover is estimated at 3.9 billion USD, up 3.7% year-on-year, while itsimport revenue is estimated at 8.6 billion USD, up 1% year-on-year.

The index of industrial production in thefirst quarter is estimated to expand 3.6% against the same period of 2023,while total retail sales of consumer goods and services are estimated at 199.6trillion VND, up 9.3%.

Truong Viet Dung, Chief of the Office ofthe Hanoi People's Committee Office, said that the city will continue topromote growth associated with controlling inflation and ensuring majorbalances of the economy.

Attention will be paid to effectively andpromptly implementing the government’s policies on interest rates and credit tosupport businesses and people, and speeding up disbursement of publicinvestment right from the beginning of the year, especially for key projects,and national target programmes, he added./.

VNA
#Hanoi economy #growth momentum #Hanoi #Vietnam #Vietnamplus #Vietnam News Agency Ha Noi
Follow VietnamPlus

Related News

See more

Downtown area in Ho Chi Minh City. (Photo: VNA)

Vietnam's golden gateway: FDI poised for gains in 2026

More than just volume, the quality of FDI entering Vietnam has improved. The nation is evolving from a base for basic assembly and processing into a genuine contributor to hi-tech manufacturing and R&D across global value chains.

Deputy Minister of Finance Do Thanh Trung speaks at the ceremony (Photo: VNA)

Project to advance growth, innovation, leadership for enterprises kicks off

AGILE is not only a testament to the long-standing and trusted strategic partnership between Vietnam and Canada, but also an important contribution to the Vietnamese Government’s efforts to promote innovation and sustainable growth within the private sector, thereby effectively mobilising private investment to realise inclusive and sustainable development goal.

At Regza Vietnam Electronics Co., Ltd. in Dong Nai province. (Photo: VNA)

FDI disbursement in January hits five-year high

Economists said that the continued growth in realised FDI reflects foreign investors’ sustained implementation and expansion of production and business activities in Vietnam. This is seen as an encouraging signal, underscoring investors’ confidence in Vietnam’s business environment and economic prospects.

In Q1 2026, Vietnam records 16 export commodities with turnover exceeding 1 billion USD. (Photo: VNA)

Exports face stiff test in bid to hit 550 billion USD

To achieve export growth of over 15% as directed by the Government, the MoIT said it will prioritise a set of core measures in 2026, including expanding production capacity, developing new export products, increasing domestic content and value added, accelerating the shift from processing to manufacturing, and proactively addressing trade barriers and defence measures.

Illustrative photo (Photo: VNA)

January CPI rises on stronger Tet holiday demand

CPI in January 2026 rose 0.05% month-on-month, with urban areas up 0.02% and rural areas up 0.09%. Of the 11 major commodity and service groups, nine recorded price hikes while two saw declines.

Vietnam is currently Cambodia’s third-largest trading partner worldwide, after China and the US, and its largest trading partner within ASEAN. (Photo: Ministry of Industry and Trade)

Party chief’s Cambodia visit to open up new phase of deeper, closer cooperation

To further unlock the potential of bilateral economic and trade cooperation, Vietnam and Cambodia should continue reviewing and effectively implementing signed agreements, facilitating trade and border connectivity, strengthening trade promotion in complementary sectors, reforming administrative procedures, upgrading border and logistics infrastructure, and enhancing coordination in combating smuggling and trade fraud.

Investors monitor stock market movements at the HoSE trading floor. (Photo: VNA)

VNX, FTSE Russell discuss Vietnam market upgrade

During the working session, the two sides shared updates on the performance of Vietnam’s stock market in 2025, focusing on market capitalisation, index trends, developments in the equities, bond and derivatives segments, and the continued expansion of the investor base.

Vietnamese products continue to gain traction at traditional markets and supermarkets across Ho Chi Minh City (Photo: VNA)

Vietnamese goods dominate Tet market in Ho Chi Minh City

Despite still-muted purchasing power, Vietnamese products continue to gain traction at traditional markets and supermarkets across Ho Chi Minh City, as consumers increasingly prioritise locally made goods, from fresh food and fast-moving consumer items to processed products, for their stable quality, reasonable prices and transparent origins.