Hanoi's GDP Growth Reaches 8.1 Percent
The Hanoi Gross Regional Domestic Product (GRDP) in 2012 was estimated to reach 8.1 percent, 1.55 times higher than the national growth despite the country’s many economic difficulties.
The figure was announced on November 3 at the sixth meeting of the Hanoi People's Council’s 14th session in the presence of Politburo member and Secretary of the city's Party Committee Pham Quang Nghi.
Speaking at the meeting, Chairwoman of the People's Council, Ngo Thi Doan Thanh said that the meeting would review the political and socio-economic situation in the capital and devise plans for the coming year.
She also said that the city's growth rate was encouraging amidst national and global economic difficulties. In addition, the city received 1.6 million foreign tourists in 2012, up 27.4 percent compared to 2011, while total export turnover surged 5.3 percent.
The city however faced many shortcomings, such as the risk of high inflation, a stagnant real estate market, tightened access to capital and unemployment.
Budget collection in 2012 was estimated at nearly VND139 billion, equivalent to 95 percent of the city's plan, but this figure marked a 15-year low due to firms struggling with high inventories, bankruptcies and tax extensions.
The city’s People's Council will outline plans and measures for the city socio-economic development for the next year, with the target of reaching a GDP growth rate of 8-8.5 percent.
The meeting will last until December 7.
Nhan Dan
Vietnamese
