Hanoi (VNA) – Hanoi is doubling down on fiscal discipline and wastefulness elimination as it chases a gross regional domestic product (GRDP) growth target of more than 11% in 2026.
Under the plan, average per capita income is set to hit 198 million VND (7,600 USD) a year, while state budget revenue is projected to stand at around 546.93 trillion VND. At the same time, the city is refining its institutional framework while preparing a capital master plan with a 100-year vision.
A key step is tighter control of state budget spending. In addition to a 10% cut in regular expenditures to create funding for salary reform, departments, agencies, and local authorities are required to save an additional 10% of regular expenditures to support social welfare policies in accordance with directions from the Government.
For public investment, Hanoi has imposed an immediate 5% cut on allocated capital outlays, redirecting those funds specifically to the strategic Lao Cai–Hanoi–Hai Phong railway project.
When it comes to natural resources, the city is raising the bar on planning standards to guarantee that land, minerals and other assets are exploited economically, efficiently and sustainably, while slashing losses, waste and environmental harm.
Officials are fast-tracking reviews of troubled land projects previously flagged in inspections, audits or court decisions, including those stalled by prolonged land use disputes, resolving issues within their authority or escalating them to higher levels in strict accordance with the law.
The entire process must be transparent and fair, balancing the state and investor interests to get land back into productive use quickly and prevent additional waste. Clear accountability will be enforced, especially for agency heads, in any cases of violations, resource mismanagement or wasteful behaviour, from illegal land use to outright abandonment.
On public asset management, Hanoi plans to wrap up thorough reviews of government offices, state-owned land and facilities, tackling underuse or inefficiency head-on and adopting a zero-tolerance policy toward any waste or loss of public property.
The capital is also accelerating the disbursement of public investment funds, giving priority to nationally critical projects, key infrastructure and inter-regional connectivity projects. Trimming bureaucracy through organisational streamlining, workforce reduction and civil service restructuring has been flagged as a top priority to boost state management efficiency.
Meanwhile, Hanoi is channeling resources toward digital transformation and sci-tech advancement, while cultivating a broad culture of thrift and anti-waste mindset throughout public agencies and urging residents to embrace savings in both production and daily consumption./.
