Hanoi (VNA)🅺 – Hanoi estimates its gross domestic product (GDP) growth rate this year will reach 8.03 percent – the highest in six years.
The municipal People’s Committee met on November 7 to review the socio-economic situation in 2016 and set tasks for next year.
While the services sector’s expansion was estimated at 8.1 percent, industry and construction have risen by 8.8 percent, and agriculture growth has hit 2.21 percent.
The local consumer price index is between 3.01 and 3.07 percent in 2016, according to municipal departments.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung said the capital has developed well despite the slow global economic recovery and impacts of natural disasters in Vietnam.
Other officials attributed the economic attainments to new leadership of the authorities.
At the meeting, Chung also asked agencies to consider suspending all karaoke services across the city until December 31 to check karaoke bars’ fire safety, following a blaze at a karaoke bar at 68 Tran Thai Tong Street on November 1 that claimed 13 lives.-VNA
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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An aerial photo of Hanoi at night (Photo: VNA)
