Hanoi targets Q4 growth of at least 5 percent

Hanoi (VNA) - Hanoi has targeted economic growth of at least 5 percent in the fourth quarter of this year, to ensure its annual growth is 1.3 times higher than in the country’s average, Vice Chairman of the municipal People’s Committee Nguyen Doan Toan has said.

Toan told an online meeting between the municipal administration and district-level authorities on September 30 that despite the strong impact of COVID-19, thanks to directions from all-level Party Committees and authorities as well as efforts by enterprises and citizens, production and business difficulties have gradually been tackled and the economy is in recovery.

The capital’s gross regional domestic product (GRDP) rose 3.05 percent in Q3, compared to 2.41 percent in Q2, resulting in nine-month growth of 3.27 percent, or 1.54 times higher than the country’s 2.12 percent.

More than 50 trillion VND (2.1 billion USD) was collected for the State budget in the July-September period, for a nine-month figure of over 176.93 trillion VND, representing 63.5 percent of this year’s target and 92.8 percent of the figure in the same period last year, he noted.

Toan also highlighted the city’s positive performance in agriculture, industrial production, construction, wholesale and retail, and banking.

For Q4, Hanoi will push ahead with drastic action to realise the twin targets of fighting the pandemic and recovering the economy, to record the best possible results in socio-economic development and the financial and budgetary situation this year, the Vice Chairman added.

In his remarks, Secretary of the municipal Party Committee Vuong Dinh Hue emphasised Hanoi’s growth target of 4-4.5 percent for the full year.

He ordered the continued implementation of outcomes from the city’s investment promotion conference in June, along with the facilitation of innovation and entrepreneurship.

Departments, sectors, and authorities also need to accelerate key transport projects, step up administration reform, and continue to guarantee social security, especially for the poor, Hue said./.