Hà Nội devises two growth scenarios for second half of year

Hà Nội devises two growth scenarios for second half of year
A sales board in front of Tràng Tiền Plaza. In the most optimistic scenario, Hà Nội’s gross regional domestic product could achieve a growth rate of 5.9 per cent. — VNS Photo Mai Hương

HÀ NỘI — Hà Nội authorities have devised two growth scenarios for the remaining six months of the year.

In the first and the most optimistic scenario, the capital could achieve a growth rate of 5.9 per cent, 1.3 times higher than the nation’s optimistic growth scenario from 4.4 – 5.2 per cent, if growth rates in the third and fourth quarters reach 7.8 per cent and 8.4 per cent, respectively.

In the second, Hà Nội’s gross regional domestic product (GRDP) would expand 5.4 per cent, 1.3 times higher than the nation’s neutral growth scenario of 3.6 – 4.4 per cent, if the city’s economy expands 6.9 per cent and 7.4 per cent in the third and fourth quarters, respectively.

Speaking at a teleconference on Monday, chairman of the municipal People’s Committee Nguyễn Đức Chung said that Hà Nội would strengthen management and address shortcomings in planning, land, construction order, urban order, environmental protection, education, clean water, and employment.

He highlighted the importance of stepping up administrative reform and creating favourable conditions for investors.

Despite the severe economic impacts of the COVID-19 pandemic, Hà Nội’s GRDP is estimated to have expanded 3.39 per cent in the first half of 2020, the slowest six-month growth in many years, according to Nguyễn Mạnh Quyền, director of the municipal Department of Planning and Investment.

The growth rate, however, remains among the highest nationwide and is significantly higher than the national growth average of 1.81 per cent.

Also during the period, the city’s Index of Industrial Production (IIP) grew 3.5 per cent year-on-year, significantly lower than a rise of 7.4 per cent recorded in the same period last year.

As tourism is one of the hardest-hit groups by the pandemic, the total number of the tourists to Hà Nội plunged 65.4 per cent year-on-year to 4.93 million in January – June, including a decline of 68.8 per cent in foreign tourists and a contraction of 61.5 per cent in revenue from tourism activities. — VNS

Recommended Content
» Hit by Covid-19, Hanoi GRDP grows 3.39% in H1
The growth rate, however, remains among the highest nationwide and is significantly higher than the national growth average of 1.81% during the period....

See more: Hit by Covid-19, Hanoi GRDP grows 3.39% in H1

» Agriculture, industry expected to power Hanoi’s economy
While Hanoi’s agricultural sector is the least affected by Covid-19, a growth rate of 3.5% of the city’s Index of Industrial Production in the first half of 2020 is the second highest nationwide....

See more: Agriculture, industry expected to power Hanoi’s economy

» Digiworld targets 20 per cent sales growth in 2020 despite pandemic
Doan Hong Viet, chairman and general director of Digiworld, makes a speech at the annual general meeting on Monday in HCM City. — VNS Photo Thu Ngan Digiworld Corporation announced its financial...

See more: Digiworld targets 20 per cent sales growth in 2020 despite pandemic

» BCG targets 31.1 per cent growth in after-tax profit in 2020
BCG’s annual general meeting in HCM City on June 27. — VNS Photo HCM CITY — Bamboo Capital JSC has set revenue and after-tax profit targets of VNĐ1.913 trillion (US$82.2 million) and VNĐ184.2 billion...

See more: BCG targets 31.1 per cent growth in after-tax profit in 2020

» Vietnam’s rice export price stands at lowest level over past two months
Việt Nam’s rice export volume surged by 12 per cent to 3.09 million tonnes in the first five months of this year. — Photo anninhthudo.vn HÀ NỘI — Higher rice supplies in the domestic market has made...

See more: Vietnam’s rice export price stands at lowest level over past two months

» VN records positive growth amid gloomy global forecasts
GSO Deputy General Director Nguyen Thi Huong addresses a press conference on Monday. — Photo doanhnghiepvn.vn Viet Nam’s gross domestic product (GDP) expanded 1.81 per cent year-on-year during the...

See more: VN records positive growth amid gloomy global forecasts

» Viet Nam’s rice export price stands at lowest level over past two months
Viet Nam’s rice export volume surged by 12 per cent to 3.09 million tonnes in the first five months of this year. — Photo anninhthudo.vn Higher rice supplies in the domestic market has made the...

See more: Viet Nam’s rice export price stands at lowest level over past two months

» Banks still register encouraging performance amid COVID-19
Many banks are posting optimistic business results as the full force of the disruptions of the global COVID-19 pandemic are not felt in their operations yet....

See more: Banks still register encouraging performance amid COVID-19

» Vietnam’s local currency bond market posts positive growth through Covid-19
While Covid-19 drags on local currency bond markets in emerging East Asia, the market still got a positive increase....

See more: Vietnam’s local currency bond market posts positive growth through Covid-19

» Banks achieve half year’s profit target
Twelve out of the 25 commercial banks that have announced half-year financial reports achieved half their 2019 profit target within the first half of this year....

See more: Banks achieve half year’s profit target

  • Comment
  • Latest
  • Read