HN sets 23 socio-economic development norms for 2021

December 08, 2020 9:00 AM GMT+7

VGP – With 100% of votes in favor, the Ha Noi People’s Council passed a resolution on socio-economic development norms for 2021.

Specifically, the local authorities is determined to achieving a GRDP of 7.5%,  social investment capital of about 12%an export turnover of 5%, a poverty reduction rate of 20%and 85% of rural areas having clean water supply. 

The city will seriously deploy measures to prevent and minimize negative impacts of the Covid-19 pandemic; restructure economic sectors and transform growth modals; raise productivity, quality, and competitiveness of the local economy on the basis of science, technology, and innovation.

For the period 2021-25, Ha Noi sets a GRDP growth target of 7.5-8%, in which the services sector would make up 65-65.5%, industry and services 22.5-23% and agro-forestry-fishery 1.4-1.6%.

By 2025, Ha Noi is expected to complete the city’s industrialization and modernization process, with the GRDP per capita rising to US$8,300-8,500. The figure would be nearly double the nation’s GDP per capita that is projected to reach US$4,688 in the period 2021-25.

In 2020, the construction industry could record the highest expansion rate among all economic sectors at 8.66% year-on-year, mainly thanks to the city’s strong push for disbursement of public funds, which was followed by industry (5.64%), agriculture (4.02%) and services (3.10%).

An early control of the Covid-19 pandemic helped the city focus on socio-economic development efforts.

One of the city’s highlights in economic development is the state budget revenue that could reach VND279.35 trillion (US$12.07 billion) in 2020, or 100.2% of the estimate and up 3.5% year-on-year, he added.

While the Covid-19 has disrupted global supply chains, Ha Noi’s export turnover for this year is on track to expand by 3.5% year-on-year to US$16.2 billion, and imports of US$30.3 billion, down 4.2% year-on-year.

A stabilized macro-economic environment also eases inflationary pressure, with the CPI staying in range of 2.73 – 2.79% in 2020, significantly below the 3.77% rate in one year ago.

Ha Noi remained in the 9th spot among the Top 10 business-friendly localities in Viet Nam for two consecutive years./

By Kim Anh  

 

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