Hanoi records nearly 8.9% economic growth in 2022

VOV.VN - Hanoi enjoyed annual growth of 8.89% in terms of gross regional domestic product (GRDP) in 2022, higher than the set target of 7% to 7.5%, according to details given by the Municipal Statistics Office.

This represents a high rate compared to the figure recorded in previous years, thereby showing the local administration’s determination and the strong efforts of local businesses, the office recently said.

The capital’s primary growth engine this year is industrial production and services, noted Dau Ngoc Hung, office director of the Municipal Statistics Office. He elaborated that the service sector has expanded 10.06% compared to last year, thereby contributing 6.44 percentage points to the overall GRDP growth.

Business, tourism, restaurant, hotel, transportation, and information activities have duly bounced back strongly as the capital moved in the post-pandemic period, thereby creating an impetus for trade and services.

Fast-growing services include logistics at 15.36%, information and communications at 6.5%; administrative activities and support services (including tourism) at 40.51%; finance, banking, and insurance at 9.19%; and wholesale and retail at 8.58%.

Meanwhile, the index of industrial production has increased by 8.8% from 2021, with the processing and manufacturing industry rising by 9% to retain its important role in common industrial growth.

These results are highly encouraging, mainly thanks to the resumption of supply chains by manufacturing firms after two years of enduring the COVID-19 pandemic, the Statistics Office went on to state.

This year has seen Hanoi earn US$17.1 billion from exports, up 10.3% on-year, compared to the 2.2% in 2021.
Most notably, textile and garment shipments have brought in US$2.57 billion, up 15.7%; computers, electronic products, and components US$2.52 billion, up 16.3%; machinery, equipment, and spare parts US$2 billion, up 1.6%; timber and wood products US$883 million, up 17.5%; and agricultural products US$871 million, up 12.2%.

About VND333 trillion, equivalent to S$14 billion, has been collected for the state budget, up 8% from the target and 2.7% from last year.

During the course of the year, Hanoi as attracted over US$1.69 billion in foreign investment, rising by 10.3%.

Furthermore, roughly 29,600 new enterprises have been licensed, up 23% from 2021, while their registered capital dropped 5% to VND328.4 trillion.

Along with this, 3,600 other firms were dissolved and 16,400 suspended operations, marking rises of 16% and 38%, respectively. In contrast, some 9,800 companies resumed operation, up 1.5%, data indicated.

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