Hanoi Pushes to Meet 11% Growth Target in 2026
Hanoi’s economy grew 8.85% in the first three quarters of 2026. To meet its full-year target of 11%, it would need to grow about 16.55% in the fourth quarter. Industrial production and exports rose in the first 10 months, but many businesses suspended operations or dissolved. The city is advancing administrative reforms and support for digital transformation.
Hanoi has set an economic growth target of at least 11% for 2026. According to the city’s socioeconomic report, gross regional domestic product grew 10.02% year on year in the third quarter and 8.85% in the first three quarters. To achieve 11% growth for the full year, the economy would need to grow about 16.55% in the fourth quarter.
File photo of production and business operations at a Hanoi enterprise.（VietVance）
In the first 10 months of 2026, Hanoi’s industrial production index rose 9% year on year, while exports reached $18.619 billion, up 8.6%. Exports from the domestic sector grew 2.8%, compared with 16.2% for the foreign-invested sector. Over the same period, retail sales of goods and consumer service revenue totaled about VND 916 trillion, up 16.2% year on year. About 27,800 businesses were newly established and nearly 11,500 resumed operations; about 27,800 registered to suspend operations, and another 12,600 were dissolved.
Key industrial products displayed by participating businesses at a Hanoi trade fair.（VietVance）
At a November 5 briefing on work in the first 10 months of the year, the chairman of the Hanoi People’s Committee called on the finance department to address issues affecting investment, production and business operations, particularly policy and procedural obstacles to project implementation and industrial cluster development. Hanoi’s finance department said processing time for certain investment-related procedures had been cut from 17 to 12 working days. The city attracted nearly $4.17 billion in foreign direct investment in the first 10 months.
Hanoi also plans a first round of support worth VND 50 billion for digital transformation and e-commerce services, targeting small and medium-sized enterprises, cooperatives and household businesses. It expects to issue about 5,000 to 6,000 support vouchers. Depending on the circumstances, support will cover no more than 70% of the cost of eligible products and services.
Source: VietVance
