The figures were announced at a conference the Hanoi People’s Committee held on September 28 to review the city’s finance for the first nine months of this year and make decisions to manage the city’s budget in the remaining months of the year.
The city’s revenue for the first nine months of the year reached VND146.4 trillion (US$6.5 billion), meeting 71.5% of the year’s targeted revenue, according to report of the city’s Department of Planning and Investment.
It is estimated that the total city revenue for the entire year will reach over VND207.6 trillion (US$9.2 billion).
Nguyen Manh Quyen, the department’s director, also emphasised that the city’s investment and business environment had improved.
Hanoi ranked 14th on the provincial competitiveness index (PCI) in 2016. It scored 60.74 points, up 10 levels compared to 2015.
The average consumer price index in the first nine months was up by 3.5-3.55% over the same period last year. The average CPI in 2017 is estimated to increase by 3.05-3.11% compared to 2016.
Hanoi also ranked third among 63 provinces and cities in the country in the 2016 administrative reform index.
Besides the results, Quyen also mentioned some shortcomings in the city’s economic performance this year. Industrial growth is increasing slowly and competitiveness is not high. Violations on construction regulations, public land laws and mining rules persist.
Other issues such as health examination and treatment, quality of medicine, food safety and hygiene have improved, but not yet met the people’s demands.
Quyen said that until the end of the year, the city will carry out drastic measures to manage revenue collection, stimulate consumption and ensure market stability for the coming Tet (Lunar New Year holidays) to achieve the growth target of 8.5% in 2017.