Ha Noi’s socio-economic performance shows strong momentum, resilience

The capital city is an attractive destination for international capital flows. During January-October, total foreign direct investment (FDI) inflows reached US$3.907 billion, 2.4 times higher than the same period in 2024.

There were 342 new projects with a total investment of US$316.7 million; 120 projects with investment capital increasing by US$3.215 billion; and 318 instances of capital contribution and share purchases worth US$375.3 million.

The number of newly established enterprises continues to grow strongly. In October, Ha Noi recorded 2,814 newly registered businesses with a total capital of VND49.3 trillion (US$1.871 billion), a year-on-year increase of 32.1 percent in capital volume.

Over the first 10 months, the city saw 27,800 new enterprises established with a total registered capital of VND337.9 trillion (US$12.825 billion), representing an 11.1 percent increase in the number of enterprises and a 38 percent increase in capital compared to the same period last year.

The Index of Industrial Production (IIP) increased by 0.8 percent compared to the previous month and 8.3 percent year-on-year. During January-October, the IIP rose by 6.9 percent.

The manufacturing and processing sector grew by 7 percent, electricity production and distribution up 5.5 percent, and water supply and waste treatment up 6.6 percent.

Industries with high growth rates included motor vehicle manufacturing (up 17.9 percent), electronics and computer products (up 10.4 percent), and leather products (up 11.3 percent).

The total retail sales of goods and consumer service revenue in the first 10 months reached VND789.1 trillion (US$30 billion), an increase of 12.7 percent year-on-year.

Of the figure, retail sales of goods accounted for 62.6 percent, reaching VND493.9 trillion, up 11.7 percent while accommodation and catering services earned VND113.2 trillion, up 18.5 percent.

It was followed by travel and tourism services with VND29.7 trillion, up 26.9 percent and other service revenues with VND152.3 trillion, up 9.3 percent.

Import and export activities continued to maintain a positive trend. In the first 10 months, Ha Noi's export turnover reached US$17.1 billion, an increase of 8.3 percent, while import turnover hit US$38.5 billion, up 14.6 percent.

Key export categories included machinery, equipment, and spare parts US$2.805 billion, up 46.4 percent; vehicles and spare parts US$2.271 billion, up 18.7 percent and textiles and garments US$2.014 billion, up 6.7 percent.

The total revenue from transportation, warehousing, and postal delivery services reached VND210.7 trillion (US$8 billion), an increase of 15.4 percent.

During the reviewed period, the total state budget revenue in the city were estimated at VND564.2 trillion (US$21.4 billion), 9.8 percent higher than the annual estimate and up 35.8 percent year-on-year.

Regarding budget expenditure, Ha Noi's local budget expenditure in the first 10 months was estimated at VND105.2 trillion (nearly US$4 billion), equivalent to 63.4 percent of the annual estimate and increasing by 40.2 percent compared to the same period in 2024. The city's regular budget expenditures over the past ten months focused primarily on essential areas, contributing to ensuring social welfare and economic development.

The total investment capital from the state budget managed by the city reached VND69.1 trillion (nearly US$2.63 billion), equivalent to 66.1 percent of the annual plan and increasing by 29.4 percent compared to the same period last year. This result indicates that the disbursement progress of public investment capital in Ha Noi is being accelerated, creating an important driving force for infrastructure development and local economic growth recovery.

In October, the capital city commenced eight key projects in the fields of transportation infrastructure, healthcare, culture, and urban development with a total investment of over VND68 trillion (nearly US$2.6 billion)./.