The forecast of Hanoi’s economy in 2013

The city has called on authorities and sectors to exert more effort to keep its economy on track, he affirmed in a recent interview.

Hanoi has drawn up three “scenarios” for its economic development, with a separate package of solutions for each.

The economy is expected to grow by 8-8.5 percent in the scenario of that the 2012 economy trajectory is maintained. Growth could surpass 8.5 percent in the best-case scenario, or drop below 8 percent if there are more difficulties.

The city predicts a growth rate of 8-8.5 percent based on the analysis of the domestic and global situation, Thao added.

He highlighted solutions to meet the target, saying 2013 will be a year of administrative reform to help businesses and people.

The city will focus on ways to attract investment and create jobs, as well as procedures and supervision of rules and regulations, and firmly handle irresponsible officials. 

In addition, the city has instructed authorities and sectors to tighten public spending, and outlined five measures to improve the property market, he said. It will also purchase commercial property to add to the social housing stock. 

To reduce burden on the budget, Hanoi mobilised VND900 trillion from credit organisations in the city this year, an increase of 9.2 percent over that of 2011. 

However, Thao attributed the slow transfer of non-budget capital for development, especially build-and-transfer (BT) projects, to delays from the Ministry of Planning and Investment.

Therefore, the city plans to publicise a list of BT projects to be carried out.

The Capital Law will provide a legal basis for Hanoi to implement programmes in a more active manner, Thao affirmed.

The city will prioritise and facilitate a number of policies, including those on construction planning, space management, architecture and view, cultural preservation and development, education-training and science-technology development, management and protection of the environment, land, housing and transport, and technical infrastructure development. 

Regarding administrative reform, Thao said the city will have multiple solutions such as management renewal, implementation of a single-door policy, pilot e-administration in five districts, reviewing and supplementing administrative procedures, and the inspection of administrative procedure implementation. 

In 2013 – the year of administrative rules, Hanoi will develop principles and a sense of responsibility among officials and public servants, especially senior officials and managers at all levels, he affirmed.