The announcement was made at a press conference on Hanoi’s socio-economic performance in the first quarter of 2026.

According to Do Thu Hang, Deputy Director of the municipal Department of Finance, the city’s gross regional domestic product (GRDP) grew by 7.87 percent year-on-year in the first quarter, marking one of the strongest increases in recent years.

However, rising fuel prices have pushed up transportation and production costs, contributing to higher prices for goods and services, weakening consumer demand and affecting business performance.

In the second quarter, Hanoi will focus on adjusting its 2026 public investment plan by reallocating capital from slow and inefficient projects to key and urgent ones with strong disbursement capacity.

The city will continue to leverage special task forces to address bottlenecks in public investment disbursement and land clearance.

Priority will be given to site clearance for major infrastructure projects, including bridges across the Red River, Ring Road 2.5, Ring Road 3.5, radial routes, and urgent works. Responsibilities will be clearly assigned to leaders at all levels, with land clearance results serving as a key metric for evaluating performance.

At the same time, Hanoi will proactively tackle export-related risks and rising input costs by working directly with major exporters to identify causes of declining orders, technical barriers, logistics costs, and shifting trade policies, thereby crafting tailored solutions for each sector.

The city will also monitor the impact of fuel price fluctuations across economic sectors, update construction material prices, and resolve contractual bottlenecks to prevent contractors from slowing down projects due to pricing risks.

A key highlight is the activation of service and consumption drivers. Hanoi will pilot a controlled night economy in Hoan Kiem and Tay Ho, extending operating hours while ensuring proper management. The city will also promote digital transformation in traditional markets, aiming for at least 1,000 traders to adopt QR codes and complete their first online transactions at major markets such as Dong Xuan, Long Bien, and Ha Dong.

In parallel, Hanoi is shifting from broad-based investment attraction to a more selective, targeted approach. Authorities plan to identify 20 to 30 strategic investors for Hoa Lac and new industrial zones, prepare tailored investment proposals, and accelerate land clearance, infrastructure, and administrative procedures for high-tech, supporting industries, and research and development projects.

The city is also working to complete the installation of IT infrastructure and online meeting systems for 126 communes and wards, alongside specialized training programs. Each locality is required to define its development space, priority projects, available resources, and specific contributions to overall growth.

Speaking at the briefing, Do Thu Hang outlined five major orientations for Hanoi’s development.

First, the city will accelerate disbursement for high-impact infrastructure projects, including bridges, ring roads, drainage systems, logistics networks, and regional connectivity, to expand development space, attract private investment, create jobs, and improve urban productivity.

Second, Hanoi will unlock non-state investment by reviewing 420 private projects and 342 delayed public investment projects, resolving bottlenecks or reclaiming stalled projects, and fast-tracking major developments such as the Olympic urban area, the Red River landscape axis, and multi-functional urban zones.

Third, the city aims to drive breakthroughs in science and technology, innovation, digital transformation, and high-quality human resources. It targets at least 80 percent of administrative procedures to be fully available online and over 95 percent of applications to be processed digitally, with more than VND9,090 billion (US$372 million) allocated to science and technology from early 2026.

Fourth, Hanoi will leverage culture, tourism, the night economy, experiential tourism, conferences, and digital cultural products to shift from seasonal to sustained growth. These are seen as key pillars to enhance the city’s identity and deepen economic expansion.

Finally, the city will optimize the use of public assets, land, housing funds, and fees, conduct a comprehensive inventory of public assets, accelerate land auctions, and strictly address inefficiencies. Reducing waste is identified as a critical lever for growth.

Thanh Hue