Hanoi posts nearly 8.9% economic growth in 2022

Hanoi's economy has expanded 8.89% in 2022. (Photo: VNA)

Hanoi (VNA) – Hanoi recorded year-on-year growth of 8.89% in grossregional domestic product (GRDP) in 2022, higher than the target of 7 - 7.5%,according to the municipal Statistics Office.

This is a high rate compared to those in many recent years, showing thelocal administration’s determination and businesses’ efforts, the office saidon December 28.

The capital city’s growth engine thisyear is industrial production and services, Office Director Dau Ngoc Hungnoted, elaborating that the service sector has expanded 10.06% from last year,contributing 6.44 percentage points to the GRDP growth.

Business, tourism, restaurant,hotel, transportation, and information activities have bounced back strongly inthe new normal, creating an impetus for trade and services. Fast-growingservices include logistics 15.36%; information and communications 6.5%;administrative activities and support services (including tourism) 40.51%;finance, banking, and insurance 9.19%; and wholesale and retail 8.58%.

Meanwhile, the index ofindustrial production has increased 8.8% from 2021. The processing andmanufacturing industry rose 9%, retaining its important role in common industrialgrowth.

This result is highlyencouraging, mainly thanks to manufacturing firms’ resumption of supply chains after the two years of the COVID-19 pandemic, the Statistics Office went on.

The press conference to unveil statistics about Hanoi's socio-economic indexes on December 28. (Photo: hanoimoi.com.vn)

In 2022, Hanoi has earned 17.1billion USD from exports, up 10.3% year on year, compared to the 2.2% in 2021.

Notably, textile and garment shipmentshave brought home 2.57 billion USD (up 15.7%); computers, electronic products,and components 2.52 billion USD (16.3%); machinery, equipment, and spareparts 2 billion USD (1.6%); timber and wood products 883 million USD (17.5%); agricultural products 871 million USD (12.2%).

About333 trillion VND (14 billion USD) has been collected for the state budget, up8% from the target and 2.7% from last year.

During the year, Hanoi hasattracted more than 1.69 billion USD in foreign investment, rising 10.3%.

About29,600 new enterprises have been licensed, up 23% from 2021, while theirregistered capital fallen 5% to 328.4 trillion VND.

Besides,3,600 others have been dissolved and 16,400 suspended operations, respectivelyup 16% and 38%. Some 9,800 companies have resumed operation, up 1.5%, datashowed./.

VNA