Hanoi sets ambitious 2022 targets, with emphasis on pandemic control

Industrial production recovery

Although the city's GRDP growth for the whole year, estimated at 2.35-3.0 percent, did not meet the set plan of 7.5 percent, it remained stable with the budget’s revenue-expenditure balance still guaranteed.

Industrial production recovered well, the industrial production index was estimated to increase by 4.78 percent (compared to 4.7 percent in 2020), while agricultural production in the city’s rural zones is estimated to grow by 2.83-2.95 percent, contributing to residents’ food security. E-commerce has gradually become a solution for sustainable and long-term development. The city successfully organized two dialogue conferences with businesses to focus on solving difficulties for domestic and foreign-invested enterprises.

Hanoi’s total state budget revenue in 2021 is estimated at more than VND241.8 trillion, equal to 102.7 percent of the assigned estimate and 84.1 percent compared to 2020. Total local budget expenditure is estimated at VND85.6 trillion, or 78.8 percent of the estimate assigned by the Hanoi People’s Council.

The registered capital of newly established enterprises is estimated at VND345 trillion, down 16 percent year on year. The city’s export turnover decreased, however its import turnover increased significantly. The export is estimated at US$14.98 billion, down 1.2 percent year on year; while import is estimated at US$34.35 billion, up 18.33 percent.

Secretary of the Hanoi’s Party Committee Dinh Tien Dung emphasized that despite the impact of Covid-19 in 2021, a number of important targets have been completed, and social security has been guaranteed.

However, the city still suffers shortcomings and limitations that need to be resolved in the near future. They include the capacity of some leading officials in handling administrative procedures; lack of effective coordination among departments, divisions and sectors; and substandard quality of some work.

Safe adaptation, economic recovery

Global economic recovery and growth is forecast to be lower in 2022 than in 2021, posing a barrier to the country’s and Hanoi’s economic recovery. Hanoi’s 2022 goal is to adapt safely, flexibly, and effectively control the Covid-19 pandemic, focusing on promoting economic recovery and development, ensuring social security and improving people's living standards.

To execute the 2022 plan, which is pivotal to the 2021-2025 development period, Secretary Dinh Tien Dung underlined the responsibilities of the leaders of departments, sectors and localities, as well as their roles in the Covid-19 pandemic prevention and control.

Hanoi People's Committee Chair Chu Ngoc Anh urged departments, agencies and People's Committees of districts to urgently assign targets and plans to their units; develop and implement plans and projects to address shortcomings and limitations of 2021 and complete assigned goals, targets and tasks in 2022.

In addition, all sectors and localities are asked to keep implementing Covid-19 prevention and control promptly and strongly in accordance with Governmental Resolution 128/NQ-CP as a foundation for the city’s socioeconomic recovery and development, and to adopt solutions to ease difficulties and support businesses, cooperatives and business households affected by the pandemic.

With an estimated 2022 budget revenue of VND311.65 trillion, an increase of 28.8 percent compared to 2021, Chair Chu Ngoc Anh asked relevant units and localities to strengthen management to avoid revenue loss, and urged tax debt recovery to ensure sufficient and timely collection of taxes, fees, and other revenues for the state budget, to ensure the efficiency of budget expenditure, reduce the proportion of recurrent expenditure, and to mobilize more resources for development investments.